Surgical Microscopes Market to Reach USD 2.3 Billion by 2028: Grand View Research Inc.

 Surgical Microscopes Market Growth & Trends

The global surgical microscopes market size is expected to reach USD 2.3 billion by 2028, based on a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 11.1% from 2021 to 2028. The rising need for ophthalmic procedures, rapid adoption of surgical microscopes in cosmetic surgeries, and new product launches are factors driving the growth of the market. For instance, in October 2018, Med X Change, Inc. launched 4Klear, a 4K Camera & Medical Video Recorder for surgical microscopes. Ophthalmic, neurological, cosmetic, and other minimally invasive surgeries require utmost precision and accuracy.

This can only be achieved through superior visualization tools. Surgical microscopes offer improved visibility, stability, recording capabilities, illumination, and high magnification of minute veins. This has led to increased demand for the product among physicians. These tools have revolutionized the field of minimally invasive surgeries as they allow surgeons to perform surgeries with maximum precision on actual pathology by magnifying the surrounding anatomical structures, resulting in improved patient outcomes with a shorter duration of procedures and rapid recovery.

In addition, limitations of open surgeries have been significantly eliminated by integrating the workflow in operating rooms. Thus, the majority of surgeons are adopting minimally invasive surgeries in various medical fields worldwide. Furthermore, people in emerging economies are willing to pay for premium-quality services due to increasing disposable income, which is anticipated to drive market growth during the forecast period. North America dominated the market in 2020 and will grow at a steady CAGR from 2021 to 2028. The growth is credited to the rising adoption of microsurgeries, favorable health reimbursement programs, and the presence of major manufacturers in the region.

Asia Pacific is expected to witness the fastest CAGR from 2021 to 2028 owing to rising cases of ophthalmic and neurological disorders that require microsurgical treatment and the growing demand for advanced surgical microscopes in hospitals for complex procedures. In response to the COVID-19 pandemic, hospitals decided to suspend all the elective and non-urgent surgeries, which have negatively impacted the market. However, with the ease of restrictions, treatments are resuming in many countries, including developing nations. Also, many companies, such as Alcon and Carl Zeiss, have resumed their business operations with the given government guidelines to deliver their orders.

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Surgical Microscopes Market Report Highlights

• On casters was the largest type segment in 2020 due to the high portability & flexibility and low maintenance requirements of these tools
• The ophthalmology application segment accounted for the maximum revenue share in 2020
• The rising prevalence of ophthalmic diseases and an increasing number of procedures performed annually in every region to treat various eye disorders are primary factors responsible for the segment’s high share
• Major market participants focus on R&D and new product development to gain a competitive edge over others
• For instance, in December 2019, Topcon Medical Systems launched SL-D4 LED illumination Slit Lamp for application in ophthalmic procedures

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Surgical Microscopes Market Segmentation

Grand View Research has segmented the global surgical microscopes market on the basis of type, application, end-use, and region:

Surgical Microscope Type Outlook (Revenue, USD Million, 2016 - 2028)

• On Casters
• Wall Mounted
• Tabletop
• Ceiling Mounted

Surgical Microscope Application Outlook (Revenue, USD Million, 2016 - 2028)

• Ophthalmology
• Neurosurgery
• Spine Surgery
• ENT Surgery
• Dentistry
• Plastic & Reconstructive Surgeries
• Gynecology
• Urology
• Other Surgeries

Surgical Microscope End-use Outlook (Revenue, USD Million, 2016 - 2028)

• Hospital
• Physician Clinics & Others Settings

Surgical Microscope Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • Italy
  • UK.
• Asia Pacific
  • Japan
  • China
  • India
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa (MEA)
  • South Africa
  • Egypt

List of Key Players of Surgical Microscopes Market

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

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.