How Much Revenue Surgical Microscope Market Will Generate Globally Till 2027?

Posted by Mrudula Anil Karmarkar on February 11th, 2022

The global surgical microscope market size is expected to reach USD 2.1 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 10.9% from 2020 to 2027. Technology upgrade and innovations in surgical microscopy have changed the way surgeons operate.

Amongst the majorly used Covid-19 screening options, imaging is preferred by most healthcare professionals as it provides a primary diagnosis in a short time. All the imaging modalities including nuclear imaging have been used exhaustively to study Covid-19 and its effect on different patients in each demography. These are used in theories such as comparison of the vulnerability of pediatric and geriatric patients, and treatment response for several drug combinations. The rising requirement for advanced lung imaging solutions is expected to boost the development studies for lung phantoms. A detailed study on lung deterioration in Covid-19 patients is expected to provide advanced measures for early detection of the disease. The report will account for Covid19 as a key market contributor.

Surgical microscopes have revolutionized the field of minimally invasive surgeries as they allow surgeons to perform surgeries with maximum precision by magnifying the surrounding anatomical structures, resulting in improved patient outcomes with shorter duration of procedures and rapid recovery. In addition, the limitations of open surgeries have been significantly eliminated by integrating the workflow in operating rooms. As a result, surgeons are opting for minimally invasive surgeries over invasive ones, leading to an increase in revenue and improvements in workflow.

The majority of surgeons are adopting minimally invasive surgeries in various surgical fields worldwide. Furthermore, people in emerging economies are willing to pay for premium quality services due to increasing disposable income, which is expected to boost the demand for minimally invasive surgeries, which, in turn, is anticipated to drive the market during the forecast period. Companies reported decreases in the revenue of the second quarter for the year 2020 due to the impact of the COVID-19 pandemic, which affected the supply chain of most of the companies.

To Request Sample Copy of this report, click the link:

https://www.grandviewresearch.com/industry-analysis/surgical-microscopes-market/request/rs1

Major players in the market are taking up strategies such as new product launches and collaboration. In February 2020, Leica Microsystems expanded its partnership with SurgicalOne into the Mid-Atlantic region. This would help in expanding market representation for its ophthalmic, neurosurgical, otolaryngologic, spine, dental, and plastic reconstructive microscope sales.

Surgical Microscope Market Report Highlights

  • By type, the on-casters microscopes segment held the largest market share in 2020 and is anticipated to expand at the highest CAGR over the forecast period owing to portability and flexibility of the devices for better adjustment during surgeries and easy maintenance
  • Based on application, the neurosurgery and spine surgery segment held the second-largest share in 2020 owing to the increasing demand for advanced equipment for performing complex invasive surgeries
  • New product launches and collaboration are the key strategies followed by major players in the market. For instance, in September 2020, Leica Microsystems showed a preview of its Proveo 8 ophthalmic microscope, which is built around EnFocus intraoperative Optical Coherence Tomography (OCT) system
  • In terms of end use, the hospital segment dominated the market in 2020 with a large number of minimally invasive microsurgeries being performed in inpatient settings. The availability of smaller operational microscopes and the booming dentistry industry are anticipated to drive this segment
  • North America held the largest revenue share in 2020. The sophisticated healthcare facilities, technological advancements, and a large number of hospitals offering advanced procedures facilitated the regional market growth

Surgical microscopes have become an essential tool for minimally invasive surgical procedures in several fields, including neurosurgery, ophthalmic surgery, dental surgery, otorhinolaryngology, and cosmetic surgery. Technological advancements in the product have significantly improved vision, stability, sizing, positioning, and recording capabilities as well as helped in the integration of image-guided microscope systems for better outcomes.

They offer 3D visualization, optimum lighting, and magnification of deep surgical fields through small approaches. Apart from clinical benefits, surgeons physically benefit from these microscopes as they allow them to adjust their posture while performing long and complicated procedures. These factors are anticipated to further propel the market growth during the forecast period.

According to the statement released by Carl Zeiss in March 2020, the company has discontinued all the internal and external events and is operational via video conferences. But it assured all its customers that there will be no delay in the deliveries of the orders as the company has developed comprehensive measures to protect all of its employees and maintain smart business continuity. The company is following all the government measures to maintain production in its plants. The company is closely monitoring its supply chains and secured distribution channels.

Companies reported decreases in the revenue of the second quarter for the year 2020 due to the impact of the COVID-19 pandemic, which affected the supply chain of most of the companies. Currently, most of the companies have resumed their businesses and are delivering orders within the given guidelines.

In February 2020, Carl Zeiss Meditec AG along with the Christoffel Mission for the Blind (CBM) opened a training center in Pune, India for treating cataracts, in collaboration with the Poona Blind Men’s Association (PBMA). In October 2018, the company announced the acquisition of IanTECH, Inc., a privately held company focused on technologies for micro-interventional cataract procedures. This acquisition enhanced the company’s portfolio of ophthalmic solutions. Some prominent players in the global surgical microscope market include:

  • Carl Zeiss Meditec AG
  • Leica Microsystems
  • Olympus Corporation
  • Haag-Streit Surgical GmbH
  • Synaptive Medical
  • Alcon, Inc. (Novartis)
  • Topcon Corporation
  • ARI Medical Technology Co., Ltd.
  • Takagi Seiko Co., Ltd.
  • Seiler Instrument Inc.
  • Chammed Co. Ltd.

About Grand View Research

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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information:www.grandviewresearch.com

Like it? Share it!


Mrudula Anil Karmarkar

About the Author

Mrudula Anil Karmarkar
Joined: July 2nd, 2020
Articles Posted: 1,982

More by this author