Surgical Microscopes Market worth over $2.1bn by 2027

Surgical Microscopes Market size is set to surpass USD 2.1 billion by 2027, according to a new research report by Global Market Insights Inc.
 

Rising geriatric population coupled with growing prevalence of chronic conditions especially in elder population are among the key factors driving the market growth. According to the United Nations’ World Population Ageing 2017 report, the elderly population aged 60 years and above were numbered 962 million in 2017 and are projected to reach 2.1 billion by 2050. The Center for Disease Control and Prevention (CDC) states that around 85% of elder adults are affected with minimum one chronic disease, and more than 60% have reported suffering from at least two chronic conditions. The aging population globally, along with high susceptibility among the older adults to chronic conditions is expected to boost the surgical microscopes market expansion substantially.
 

Technological advancements incorporating advanced imaging modalities will stimulate the surgical microscopes market progression

Surgical microscopy has been witnessing advancements in terms of technical aspects with incorporation of advanced imaging modalities such as optical coherence tomography (OCT), photoacoustic microscopy, hyperspectral imaging, fluorescence imaging, and laser speckle contrast imaging among others. Addition of digital technologies such as high-end visualization and augmented reality (AR) to surgical microscopes as novel features have led to notable transition in clinical practices and aided the surgeons in delivering precise & minimally invasive surgeries. Several market players are investing in the development of advanced operating microscopes that feature advance optics, shadow-free illumination, versatile mechanical design, and high-end visualization.
 

The combination of advanced imaging modalities and microscopy is poised to allow the surgeons to perform critical procedures with high precision and enhance the surgical outcomes. With ongoing advancements and improved ergonomics, the surgical microscopes have become an indispensable part of microsurgical operations in the field of spinal surgery, neurosurgery, ENT, dentistry, plastic and reconstructive surgeries among others.
 

Higher maneuverability, motorized mechanics and development of advanced on-casters products is predicted to surge the market value

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The on casters segment in the surgical microscopes market was valued at USD 669 million in 2020. The on-caster surgical microscopes are preferred due to optimum stability, better maneuvering and repositioning functionality with minimum efforts that aids the surgeons in reducing the duration of the operation. The integration of motorized mechanics has further incorporated the automation element in surgical microscopes that assists in easy balancing and adjusting flexibly in the right position. Various controlling methods have been designed to provide hands-free control to the surgeons, and the improved ergonomics minimizes the operators’ strain during lengthy and critical surgeries. Furthermore, commercialization of advanced on casters surgical microscopes by prominent leaders will propel the segment growth.
 

Browse key industry insights spread across 200 pages with 193 market data tables & 16 figures & charts from the report, “Surgical Microscopes Market Size By Device Type (Tabletop, On Casters, Wall Mounted, Ceiling Mounted), By Application (Dentistry, Urology, Oncology, Gynecology, ENT Surgery, Neurosurgery, Ophthalmology, Spine Surgery, Plastic & Reconstructive Surgery), By End-use (Hospitals, Ambulatory Surgical Centers), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/surgical-microscope-market
 

Growing prevalence of cancer and increasing number of cancer surgeries will promote the demand for surgical microscopes

The surgical microscopes market for oncology segment is slated to expand at 11.5% growth rate through 2027 led by the rising prevalence & mortality rate of cancer and emergence of interventional oncology. As per the American Cancer Society’s statistics, cancer is responsible for 1 in every 6 mortalities globally. In 2018, the diagnosed cancer cases were numbered 17 million with 9.5 million cancer deaths. The global burden will increase in the coming years with 27.5 million new cancer cases and 16.3 million cancer deaths by 2040. Moreover, according to the American Cancer Society’s Surveillance Research 2019 data, there were estimated 268,600 new cases of invasive breast cancer in women in the U.S. with 42,260 deaths. Mastectomy is a surgical procedure recommended to the breast cancer patients to limit the spread of the disease. With increasing awareness regarding breast cancer and growing availability of treatment options, over 100,000 women in the U.S. undergo mastectomy procedure every year, as of 2016. The rising number of interventional oncology procedures will augment the adoption of surgical microscope, thereby promoting the industry growth.
 

Rising patient preference for ambulatory surgical centers is anticipated to spur the market revenue

The ambulatory surgical centers segment captured 35% of the surgical microscopes market share in 2020 impelled by the cost-effective surgical procedures, shorter stay and access to latest medical technology. Ambulatory surgery centers offer cost-effective alternative to hospitals for outpatient surgeries. On average, procedures performed in ambulatory surgical centers take 31.8 fewer minutes than surgeries performed in hospitals. Availability of comprehensive range of treatments with advanced technological instrument caters to substantial percent of patient population undergoing several types of surgeries.
 

Increasing number of surgical procedures in China will accelerate the market demand

China held majority revenue share of 40% in the Asia Pacific surgical microscopes market in 2020 on account of the increasing geriatric population and the rising number of surgical procedures. The UN Surveillance data projects drastic growth of older adults aged 60 years & above and are expected to reach over 41% of the total population by 2050. Geriatric population is associated with increasing disease burden, due to high susceptibility to chronic conditions that require surgical interventions. In addition, growing number of surgical procedures to manage these chronic conditions across the country has surged notably.
 

Players are emphasizing on strategic initiatives and innovative product launches to expand business operations

Some of the major companies operating in the surgical microscopes market are TAKAgi Seiko Co., LTD., Synaptive Medical, Seiler Instrument Inc., HAAG-STREIT Surgical GmbH, Leica Microsystems (Danaher Corporation), Topcon Corporation, Alcon Laboratories, Olympus Corporation and Carl Zeiss Meditec AG among others. These leaders are involved in adopting strategic initiatives such as collaborations, partnerships and agreements to gain competitive advantage over their competitors.