Global Market For Microsurgery to Witness Tremendous Growth and Expansion by 2030

 Microsurgery Market Growth & Trends

The global microsurgery market size is expected to reach USD 3.3 billion by 2030, registering a CAGR of 5.5% during the forecast period, according to a new report by Grand View Research, Inc. The industry growth is driven by the increasing aging population and surging incidence of lifestyle diseases. Improving levels of healthcare access in emerging markets are anticipated to fuel industry growth. Several developing economies, such as India and Australia, have had a vast private-public and urban-rural divide in healthcare delivery for several years. In the past 3-5 years, this gap has been minimized with an increase in private and public investments in hospital infrastructure.

The development of corporate hospitals in under-developed economies and advancements in small multi-specialty and private single-specialty hospitals have changed the dynamics of access to care. Hence, increasing investments in healthcare infrastructure will subsequently boost the demand for microsurgery equipment in various healthcare facilities. Developed nations commonly have established healthcare systems providing services to larger proportions of their population and, in some circumstances, offer complete healthcare to their total population. However, in emerging countries, such as India, government schemes offer limited coverage.

This results in higher out-of-pocket expenses to attain healthcare requirements. Thus, a noteworthy proportion of healthcare spending in developed countries is driven by government spending, which will ultimately boost industry growth. The COVID-19 pandemic negatively impacted the industry in 2020 for microsurgery by directly affecting production & demand, creating a disruption in the supply chain, and increasing the financial burden on firms. To minimize the spread of COVID-19, elective surgeries were commonly postponed or even canceled in this timeframe. Such activities have caused disruptions to the supply chain, facilities, and operations impeding the supply chain of microsurgery equipment.

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Microsurgery Market Report Highlights

• The operating microscopes segment held the largest share in 2022 as they provide increased & improved safety and precision during surgical procedures
• The plastic and reconstructive surgeries segment held a significant share in 2022 owing to the high popularity and demand for such surgeries across the globe
• The transplantation segment held a momentous revenue share in 2022 owing to the high number of kidney and heart transplants
• The hospitals & clinics segment is anticipated to hold the highest share by 2030 due to the increasing usage of microsurgery instruments for several surgical procedures
• North America was the leading region in 2022 owing to the presence of advanced healthcare infrastructure and key microsurgery equipment manufacturers
• Asia Pacific is anticipated to grow at the fastest CAGR during the forecast period due to the high prevalence of chronic diseases and the rising geriatric population

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Microsurgery Market Segmentation

Grand View Research has segmented the global microsurgery market on the basis of equipment, procedure, application, end-use, and region:

Microsurgery Equipment Outlook (Revenue, USD Million, 2018 - 2030)

• Operating Microscopes
• Micro Sutures
• Micro Forceps
• Microsurgery Needle Holder
• Others

Microsurgery Procedure Outlook (Revenue, USD Million, 2018 - 2030)

• Transplantation
• Suture & Grafting
• Free Tissue Transfer
• Others

Microsurgery Application Outlook (Revenue, USD Million, 2018 - 2030)

• Orthopedic
• Neurology
• Gynecological & Urological Microsurgery
• Ophthalmic
• Plastic & Reconstructive
• Oncology
• Others

Microsurgery End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals & Clinics
• Ambulatory Surgical Centers
• Academics and Research Institutes
• Others

Microsurgery Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Spain
  • Denmark
  • Norway
  • Sweden
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Thailand
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • South Africa
  • Saudi Arabia
  • UAE
  • Kuwait

List of Key Players of the Microsurgery Market

• HAAG-STREIT GROUP
• Olympus Corp.
• Leica Microsystems
• Braun Melsungen Inc.
• Accurate Surgical & Scientific Instruments Corp.
• Surtex Instruments Ltd.
• Scanlan International
• Carl Zeiss AG
• KLS Martin Group
• Topcon Corp.
• Integra LifeSciences

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.