United State: Surgical Microscope Market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Surgical Microscope Market by region.
Surgical Microscope Market is valued approximately USD 723.3 million in 2019 and is anticipated to grow with a healthy growth rate of more than 12.5% over the forecast period 2020-2027.
The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while other private revenues accounted for 7.5%.
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
Surgical microscope is an electrical or mechanical optical device, particularly intended to perform microsurgeries in surgical settings. It has a blend of lenses that provides stereoscopic vision, magnification, and illustrated image of the surgical area. Now a days, surgical microscopes have become an integral tool for performing minimally invasive surgeries in several fields, such as neurosurgery, dental surgery, cosmetic surgery, otorhinolaryngology, and ophthalmic surgery. Technological enhancements in the surgical microscopes have significantly enhanced vision, stability, positioning, and sizing capabilities, as well as facilitated in the incorporation of image-guided microscope systems for improved outcomes.
Apart from its clinical benefits, physicians are getting benefit from surgical microscopes as they allow them to accommodate their position while operating complicated clinical procedures. Therefore, these factors are anticipated to propel the market growth all over the world. Increasing number of minimally invasive surgeries, growing technological advancements such as wide-angle illumination, red reflex illumination and more, along with rising product launches by the market players are the few other factors driving the market growth during the forecast period.
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For instance, in 2018, Carl Zeiss AG launched a new surgical microscope namely, EXTARO 300 with advanced visualization system for operating complicated surgical procedures. Similarly, in September 2017, Olympus Corporation also launched of its new ORBEYE Surgical Microscope, with integrating 4K 3D video technology, in Japan and America. Therefore, such initiatives of market players are expected to accelerate the market growth worldwide.
Amidst the COVID-19 pandemic, several countries are under lockdown, and therefore, surgeries have been delayed or cancelled to prevent the spread of novel coronavirus thereby, the need for surgical microscope is significantly declining at least in this year. However, the high cost of advanced operating microscopes and implementation of excise duty by the U.S. government, may act as a major roadblocks for the market growth during the forecast period of 2020-2027.
The regional analysis of global Surgical Microscope market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading/significant region across the world in terms of market share owing to the rise in number of surgeries, along with the advancements in healthcare facilities in the region.
Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising incidence of ophthalmic disorders, increasing number of minimally invasive surgical procedure and growing medical tourism would create a lucrative growth prospectus for the market growth in the Asia-Pacific region.
Major market player included in this report are: Novartis AG Danaher Corporation Topcon Corporation Carl Zeiss AG Haag-Streit Surgical GmbH (Moller-Wedel GmbH) Accu-Scope Inc. Alltion (Wuzhou) Co., Ltd. Arri Medical (Arri Group) Karl Kaps GmbH & Co. Kg Takagi Seiko Co. Ltd.
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Application: Neuro and Spine Surgery Plastic and Reconstructive Surgery Ophthalmology Gynecology and Urology Oncology Ear, Nose, and Throat (ENT) Surgery Dentistry
By End-User: Hospitals Outpatient Facilities
By Region: North America U.S. Canada Europe UK Germany France Spain Italy ROE
Asia Pacific China India Japan Australia South Korea RoAPAC Latin America Brazil Mexico Rest of the World
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Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018 Base year – 2019 Forecast period – 2020 to 2027
Target Audience of the Global Surgical Microscope Market in Market Study:
Key Consulting Companies & Advisors Large, medium-sized, and small enterprises Venture capitalists Value-Added Resellers (VARs) Third-party knowledge providers
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What are the key findings of the report?
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