In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.
Request InsightsPurchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively. Request Insights
IN THE NEWSACCU-SCOPE Inc. has introduced new ACCU-fluor LED fluorescence illuminators for upright compound microscopes with the features of built-in LEDs with intensity control, and filter sets.
Leica Microsystems GmbH has released the ARveo 8, a digital visualization neurosurgery microscope with ultra-fast processing speeds. In ARveo 8, AR fluorescence imaging, IGS information, and endoscopic imaging are combined to provide improved AR visualization. It provides users with a more natural, real-time experience during surgery through its ultra-fast processing capabilities.
|
Base Year |
2022 |
|
Forecast Year |
2023-2033 |
|
CAGR |
~14% |
|
Base Year Market Size (2022) |
~USD 1 Billion |
|
Forecast Year Market Size (2033) |
~ USD 3 Billion |
|
Regional Scope |
|
The global surgical microscopes market is estimated to garner a revenue of ~ USD 3 Billion by the end of 2033 by growing at a CAGR of ~14% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~ USD 1 Billion in the year 2022. The growth of the market is primarily attributed to the worldwide increasing count of various types of surgical procedures to treat many diseases and disorders abdominal pain, hernia, cancer, thyroid, gallbladder inflammation, and others boosting the demand for surgical microscopes. For instance, around 41 to 52 million major surgeries are performed annually in the United States, and 21 million in Europe, for a striking total of 312 million worldwide.
Get more information on this report:Request Sample PDF
Surgical microscopes are medical devices that give a clear visual display and bright illumination of the surgical field. They offer an adjustable resolution, resulting in better identification of anatomical structures in the surgical field. They are also used for training purposes in medical institutes. Advanced surgical microscopes are equipped with a wide range of imaging modalities, such as optical coherence tomography (OCT), fluorescence imaging, and augmented reality (AR), for image-guided surgery. The increasiprevalence of several chronic diseases along with the rising geriatric population are fueling up the huge growth of the global surgical microscopes market. For instance, in 2020, the prevalence of chronic diseases increased by 59% across the globe.
Growing Number of Ophthalmic Surgeries – A notable increase in various kinds of ophthalmic surgeries are fueling up the demand of surgical microscopes. In recent years, more people opted for several non-invasive eye surgeries to treat several eye-related issues. A spike in diabetes and high blood glucose level lead towards numerous eye diseases, i.e., vision impairment, cataracts, color blindness, and so on. So these microscopes deliver high contrast and comprehensive imaging of different areas of the human eye. Therefore, minimally non-invasive ophthalmic surgeries are the appropriate solution to treat such eye diseases. As per the data provided by the World Health Organization (WHO), by 2021, at least 2.2 billion people worldwide had a near or distance vision impairment and cataract is a major factor in both vision loss and blindness.
Spiking Number of Cardiovascular Diseases – For instance, Cardiovascular diseases are the major cause of death, accounting for 32% of all deaths. 17.9 million people died from cardiovascular diseases in 2019.
Rising Trend of Reconstructive Surgeries - Nearly 6.9 million reconstructive surgical procedures were carried out in the United States in 2020.
Escalating Occurrence of Chronic Kidney Disease (CKD) - Chronic kidney disease is a long - term condition affecting nearly 12% of the global population, denoting approximately 855 million people.
Worldwide Increase in Healthcare Expenditure – As per the World Bank, in 2019, global healthcare spending expanded by 9.83%.
Heavy Custom and Excise Duty Levied by Governments
Microscopes are developed to provide accurate results and are developed in a way that can fulfill a certain task. These microscopes are not manufactured in every nation and that’s why the export and import volume is very high this process becomes a remarkable restraint to the market since heavy excise duties are imposed by the governments.
High Price of Surgical Microscopes
Lack of Favorable Reimbursement
The global surgical microscopes market is segmented and analyzed for demand and supply by application into ophthalmology, oncology, neuro and spine surgery, gynecology and urology, dentistry, ENT surgery, plastic and reconstructive surgery, and other surgeries. Out of these, the oncology segment is estimated to significantly grow over the forecast period owing to the rapidly growing occurrence of cancer spiking the demand for surgical microscopes globally. Cancer is a leading cause of death and is designated as a chronic disease. For instance, in 2019, approximately 2 million new cancer cases were diagnosed and nearly 610,370 cancer were deaths reported in the United States.
Regionally, the global surgical microscopes market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2033 backed by the huge investment in research and development, rising prevalence of cardiovascular and cancer diseases, and growing number of surgeries in the region. For instance, from January 1, 2019, to January 30, 2021, approximately 14 125 570 surgical procedures were performed in the United States.
Our in-depth analysis of the global surgical microscopes market includes the following segments:
|
By Type |
|
|
By Price Range |
|
|
By Application |
|
|
By End-User |
|
FREQUENTLY ASKED QUESTIONS
Growing number of ophthalmic surgeries, spiking number of cardiovascular diseases, rising trend of reconstructive surgeries, and escalating occurrence of chronic kidney disease (CKD) are some major factors driving the growth of the market.
The market is anticipated to attain a CAGR of ~14% over the forecast period, i.e., 2023 – 2033.
High price of surgical microscopes, heavy custom and excise duty levied by governments, and lack of favorable reimbursement are estimated to hamper the market growth.
The market in North America is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.
The major players in the market are Carl Zeiss Meditec AG, Leica Microsystems GmbH, Takagi Seiko Co., Ltd., ACCU-SCOPE Inc., Seiler Instrument & Manufacturing Company, Inc., ARI Medical Technology Co., Ltd., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, price range, application, end-user, and by region.
The oncology segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
Related Reports
Disclaimer | Privacy Policy | Terms & Conditions | LOB
Copyright © 2022 Research Nester. All Rights Reserved
