Surgical Microscopes Market Dynamics and Global Forecast to 2021

Posted by Rosy Wills on February 13th, 2019

The global surgical microscopes market is projected to reach USD 915.6 million by 2021 from USD 508.1 million in 2016, growing at a CAGR of 12.5% during the forecast period.

The global surgical/operating microscope market is segmented on the basis of application, end-user, and region. On the basis of applications, the Surgical/operating microscope market is broadly segmented into neuro and spine surgery, plastic and reconstructive surgery, ophthalmology, gynecology and urology, oncology, dentistry, ENT surgery, and documentation. The neuro and spine surgery segment is expected to account for the largest share of the global Surgical/operating microscope application market in 2016. Factors attributing to the growth of this segment are the increasing demand for surgical/operating microscopes in neurosurgery. However, oncology is the fastest-growing application for surgical/operating microscopes due to the increasing prevalence of cancer across the globe

Furthermore, based on end-user, the Surgical/operating microscope market is segmented into hospitals, and outpatient facilities. The hospitals segment is expected to account for the largest share of the Surgical/operating microscope end-user market in 2016. Growth in this segment can be attributed to the increasing demand for minimally invasive surgeries worldwide.

Market Dynamics

Drivers

• Increasing use of fluorescence image-guided surgery (FIGS)
• Increase in the number of surgeries and growing demand for MIS
• Advancements in healthcare facilities
• Technological advancements
• Customized microscopy solutions

Restraints

• High cost of advanced surgical/operating microscopes
• Implementation of excise tax by the U.S. government
• Heavy custom duties on medical devices

Opportunities

• Emerging Markets (China, India, Brazil, and the Middle East)
• Broadened applications of surgical/operating microscopes

Challenges

• High degree of technical expertise