The global surgical microscope Market is expected to reach USD 1,304.3 million by 2024, according to a new report by Grand View Research, Inc. The prevalence of chronic disorders such as cancer and coronary heart diseases requires surgery as the prime line of treatment. With the advent of operational microscopes, these surgeries have become much easier and less painful; thus, these devices play a vital role in the treatment of chronic conditions.
The inflow of technologically-advanced products is spurring the demand for surgical microscopes as they are accurate, offer better illumination, and stability. Technologies such as Red Reflex illumination stability, wide angle illumination, and augmented microscopy act as emerging technologies.
The rising popularity of minimally invasive surgeries due to their patient-friendly nature is an impact rendering driver for this market. Operational microscopes are vital elements of minimally invasive procedures as well as microsurgeries, fueling the growth of Surgical Microscope Market.
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Further key findings from the study suggest:
- Oncology held the lucrative share of around 25.0% in the application segment. The rising prevalence of cancer along with the complexity in the treatment fosters the usage of operational microscopes.
- Neurosurgery and spinal surgeries are anticipated to witness lucrative growth over the forecast period. The increasing investment for R&D activities in this area of application is projected to govern this segment’s growth.
- The surgical microscopes based on casters dominated the type segment; moreover, their dominion is expected to continue over the forecast period due to their portability and easy cleaning capabilities.
- Hospital as an end-user segment held the largest share of over 75.0% in 2015. Greater financing capabilities, as well as increased volume of surgeries over the years, contributed to this growth.
- Physician’s/dentists’ clinic as end-user is anticipated to grow at a substantial rate. The availability of small-scale microscopes as well as the growing cosmetic dentistry is expected to drive their demand.
- North America held lucrative shares of around 35.0% in 2015. On the contrary, Asia Pacific is anticipated to witness lucrative growth over the forecast period. Unmet needs of huge population base along with economic development in this region governed its growth.
- The key players operating in this industry include Carl Zeiss, Leica Microsystems, Allition (Wuzhou), Takagi Corporation, Topcon, Alcon, HAAG-STREIT SURGICAL, and Seiler Precision Microscopes.
- Mergers and acquisitions along with new product launches are key strategic initiatives undertaken by market players to sustain the competition. Upgrading of products, new launches, technological innovation, and strategic collaborations are the key initiatives in this market.
- For instance, in August 2014, Alcon acquired WaveTec Vision a developer of an intraoperative guidance system for cataract. This initiative helped Alcon to strengthen product portfolio in the ophthalmic surgical market.
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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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