Surgical Microscopes Market Growth 2014-2022
Posted by pooja on June 11th, 2019
Global Surgical Microscopes Market would reach 8 million by 2022 from 7 million in 2015, growing a CAGR of 8.9% from 2016 to 2022, according to a new report published by Allied Market Research.Ophthalmology application segment is expected to remain the highest revenue-generating segment throughout the forecast period. North America held the leading position in the global market in 2015, and is expected to maintain its lead throughout the study period.
The demand for surgical microscopes has witnessed tremendous growth due to growth in global geriatric population, increase in R&D activity in life science sector, growth in health care infrastructure, and increase in demand for minimally invasive surgeries. In addition, governmental funding & support for implementing the healthcare infrastructure and technological advancement are some of the factors anticipated to play a major role in the growth of the developed markets. However, sale of used and refurbished equipment and high pricing of equipment in developing region are some of challenges, which can hamper the growth of the market to some extent during the forecast period.
Ophthalmology segment dominated the market in 2015 with one-fourth market share, and is expected to maintain its dominance throughout the forecast period due to increase in population undergoing ophthalmic surgeries worldwide. Moreover, ENT segment is projected to exhibit higher growth rate among all the other applications, closely followed by plastic & reconstructive surgery and oncology segments.
In 2015, outpatient facilities was the largest end-user segment and is expected to remain predominant over the forecast period. In addition, low price range surgical microscopes accounted for more than two-fifths market share in 2015 and is anticipated to grow at higher CAGR when compared with mid-range and premium range surgical microscopes.
Key Findings of the Surgical Microscopes Market:
In 2015, North America and Europe collectively accounted for more than 60% of the worldwide demand for surgical microscopes and are expected to maintain their lead position throughout the forecast period. However, Asia-Pacific is projected to be the fastest growing region, with a CAGR of 10.7% during the forecast period, followed by LAMEA and North America.
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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small- & medium-scale enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Allied Market Research provides one-stop solution right from data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients understand the significance and impact of market dynamics. The company applies client’s insight on the factors such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligence support to help clients transform into a prominent business firm.
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About the Authorpooja
Joined: May 29th, 2019
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