Healthcare & Pharmaceutical

Surgical Microscopes Market Analysis by Type (Wall Mounted, On Casters, Table Top, and Ceiling Mounted); by Price Range (Low-Range, Mid-Range, and Premium-Range); by Application (Ophthalmology, Oncology, Neuro & Spine Surgery, Gynecology & Urology, Dentistry, ENT Surgery, Plastic & Reconstructive Surgery, and Other Surgeries); and by End-User (Hospitals, Ambulatory Centers, Clinics, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Report ID: 4568 | Published On: Jan 30, 2023

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Inflation and Looming Recession to Haunt Businesses:

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. Purchasing 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.


In The News

  • ACCU-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. Its ultra-fast processing capabilities give users a more realistic, real-time experience during operation.


Global Surgical Microscopes Market Definition

Surgical microscopes are medical devices that are attached to a series of lenses, and built-in illumination systems, all to provide a stereoscopic image. Surgical microscopes assist surgeons and operating room staff to analyze the small structure of organs via illuminated, high-quality images. These microscopes are getting more enhanced and being used for multiple clinical applications, such as ENT surgery & consultation, dentistry, reconstructive surgery, orthopedics, ophthalmology, and others. For image-guided surgery, advanced surgical microscopes are equipped with a range of imaging techniques, including optical coherence tomography (OCT), fluorescence imaging, and augmented reality (AR).

The surgical microscope is comprised of a series of lenses. A competent surgical microscope with 25 times boosted magnification is highly required in those procedures where precise localization is required. The basic microscope has a set of ocular lenses that may be adjusted to account for myopia or hyperopia in one or both of the surgeon's eyes. Surgical microscopes can be tailored, making them suitable for component disinfection and sterilization and preventing total cross-infection. Even the most basic surgical microscopes can cost several thousand dollars. It also allows the surgeon to walk around freely while doing critical medical procedures.

Surgical microscopes are classified into four varieties based on their configuration- on casters, wall-mounted, table top, and ceiling mounted. Owing to their greater mobility, the on-casters are the most preferred supporting structure, however, a ceiling mount or wall mount can assist with space utilization. A variety of hands-free operating procedures have been created, and improved designs have minimized the strain on surgeons during long operating sessions. Additionally, some modern microscope stands come equipped with HD displays and documentation tools that make it easier to share the process of a surgical procedure.


Global Surgical Microscopes Market: Key Insights

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

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)


Global Surgical Microscopes Market Size, Forecast, and Trend Highlights Over 2023 - 2033

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 can be attributed to the worldwide increase in count of various types of surgical procedures to treat many disorders such as abdominal pain, hernia, cancer, thyroid, gallbladder inflammation, and so on. 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. Further, the significantly rising utilization of fluorescence image-guided surgery (FIGS), coupled with customization in microscopic solutions, is also estimated to drive the market growth over the forecast period. 

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In addition to these, factors that are believed to fuel the market growth of surgical microscopes include the increasing prevalence of several chronic diseases along with the rising geriatric population throughout the world, which is estimated to fuel the huge growth of the global surgical microscopes market. For instance, in 2020, the prevalence of chronic diseases increased by 59% across the globe. Additionally, the surging demand for more precision in surgery, coupled with the integration of novel technologies such as augmented reality (AR) microscopy, and red reflex illumination, are also estimated to display prominent market growth over the coming years. 


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Global Surgical Microscopes Market: Growth Drivers and Challenges

Growth Drivers

  • Growing Number of Ophthalmic Surgeries – A notable increase in various kinds of ophthalmic surgeries is estimated to fuel the demand for surgical microscopes. In recent years, more people have opted for several non-invasive eye surgeries to treat several eye-related issues. A spike in diabetes and a high blood glucose level leads to 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 Death Toll 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 – For instance, 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 statistics, in 2019, global healthcare spending expanded by 9.83%.

Challenges

  • 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 in this process, which becomes a remarkable restraint on the market since heavy excise duties are imposed by the governments.
  • High Price of Surgical Microscopes
  • Lack of Favorable Reimbursement


Market Segmentation

The global surgical microscopes market is segmented and analyzed for demand and supply by application into ophthalmology, oncology, neuro & spine surgery, gynecology & urology, dentistry, ENT surgery, plastic & reconstructive surgery, and other surgeries. Out of these segments, the oncology segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the rapidly growing occurrence of cancer, that is spiking the demand for surgical microscopes globally. For instance, in 2019, approximately 2 million new cancer cases were diagnosed, and nearly 610,370 cancer deaths were reported in the United States.

The global surgical microscopes market is also segmented and analyzed for demand and supply by end-user into hospitals, ambulatory centers, clinics, and others. Amongst these segments, the hospitals segment is expected to garner a significant share over the forecast period. The growth of this segment is owing to the rising ratio of patient hospitalizations, followed by the increased proportion of complex surgeries performed in hospitals. For instance, based on a report published in 2022, the total patient admissions in all hospitals in the United States have topped around 34,358,855.  Additionally, the escalating use of surgical microscopes in dental procedures is another prominent factor that is anticipated to fuel market growth in the coming years. On the other hand, the clinics segment is also projected to witness a massive CAGR during the forecast period, owing to the rising awareness about physical appearance, and aesthetics that is boosting the ratio of aesthetical procedures worldwide.

Our in-depth analysis of the global surgical microscopes market includes the following segments:

               By Type

  • Wall Mounted
  • On Casters
  • Table Top
  • Ceiling Mounted

               By Price Range

  • Low-Range
  • Mid-Range
  • Premium-Range

                 By Application

  • Ophthalmology
  • Oncology
  • Neuro & Spine Surgery
  • Gynecology & Neurology
  • Dentistry
  • ENT Surgery
  • Plastic & Reconstructive Surgery
  • Other Surgeries

                  By End-User

  • Hospitals
  • Ambulatory Centers
  • Clinics
  • Others


Global Surgical Microscopes Market Regional Synopsis

The North America surgical microscopes market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be attributed majorly to the rising prevalence of cardiovascular and cancer diseases, along with the 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. Further, the increase in research and development activities, coupled with the presence of supportive reimbursement facilities for medical treatments are some major factors that are projected to push the market growth further throughout the forecast period in the region.

Furthermore, the Asia Pacific surgical microscopes market is also anticipated to display prominent market growth by the end of 2033. The growth of the market can be attributed to the increasing ratio of ophthalmic disorders, such as cataracts, diabetic retinopathy, myopia, and so on, that are estimated to drive the market’s growth during the forecast period. For instance, myopia is presently a serious public health concern in many East Asian countries, affecting between 82 to 91% of high school graduates, with around 12 to 20% having sight-threatening pathologic myopia. In addition to this, the surge in medical tourism and the escalating count of surgical procedures are some further factors that are anticipated to propel the market growth in the region in the projected time frame.

Surgical-Microscopes-Market-regional Top Featured Companies Dominating the Global Surgical Microscopes Market

Surgical-Microscopes-Market-regional

Key Questions Answered in the Report

1) What are the major factors driving the growth of the surgical microscopes market?

Ans: 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.

2) What would be the CAGR of surgical microscopes market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~14% over the forecast period, i.e., 2023 – 2033.

3) What are the challenges affecting the surgical microscopes market growth?

Ans: Heavy custom and excise duty levied by governments, high price of surgical microscopes, and lack of favorable reimbursement are estimated to be the growth hindering factors for the market expansion.

4) Which region will provide more business opportunities for growth of surgical microscopes market in future?

Ans: The market in the North America region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

5) Who are the major players dominating the surgical microscopes market?

Ans: 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.

6) How are the company profiles selected?

Ans: 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.

7) What are the segments in the surgical microscopes market?

Ans: The market is segmented by type, price range, application, end-user, and by region.

8) Which segment captures the largest market size in application segment in the surgical microscopes market?

Ans: The oncology segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

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