The Surgical Microscopes Market is projected to grow at a rate of 10.3% in terms of value, from 2023 to reach USD 2.00 Billion by 2032. Increased health expenditure is likely to drive the market growth in the forecast period. According to WHO, overall health expenditure is growing at a faster rate than the gross domestic product, growing more rapidly in low and middle-income countries (around 6.0% on average) as compared to high-income countries (about 4.0%).
Resources for health systems are being received from households paying and more through funds collected from pooled resources, primarily from domestic government sources. As per the 2016 data published in WHO\’s Global Health Expenditure Database, the average per capita public spending on health in middle-income countries has grown two-fold since 2000, as these countries develop in their transition to domestic funding. In 2016, the global health expenditure was USD 7.50 trillion, which is equivalent to 10.0% of the world\’s GDP.
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Rise in the geriatric population is one of the significant factors influencing the market growth. It has been estimated that by 2050 approximately 16.0% of the global population will be aged more than 65 years, which expected to increase fivefold since 1950. Forecasts from the World Health Organization (WHO), United Nations (UN), and the EU commission all indicate aging as a significant challenge for society, which demands concentrated efforts to meet the requirements of the elderly.
According to the World Health Organization (WHO), each year, globally, around 250,000 and 500,000 individuals suffer a spinal cord injury. Preventable causes, including road traffic accidents, falls, or violence, are the major contributors to the spinal cord injury, and individuals suffering from the condition are more likely to die prematurely as compared to healthy individuals with low and middle-income economies having the worst survival rates. Spinal cord injury is linked with a peril of occurrence of secondary conditions, which can be incapacitating and sometimes cost a person\’s life, such as urinary tract infections, deep vein thrombosis, muscle spasms, pressure ulcers, osteoporosis, chronic pain, and respiratory complications.
However, the high cost associated with surgical microscopes may hamper the growth of the market in the upcoming years.
Product Type Outlook:
By product type, wall-mounted surgical microscopes held the second-largest market share in 2023 and are estimated to grow at a rate of 12.1% in the forecast period. Wall mount products are suitable for rooms with limited space. These microscopes are normally mounted on the wall behind the patient\’s chair. A long multi-articulating suspension arm offers stable delivery of the optical base to the field. The arm conveniently folds flat when not in use, against the wall for unhindered storage.
Application Outlook:
By application, neurosurgery and spine surgery dominated the market in 2023 and are expected to witness a growth rate of 10.4% in the forecast period. Surgical microscopes are common thing within the neurosurgical operating theater and are a backbone of surgical processes for brain tumor removal. As an essential visualization tool in everyday use for neurosurgery, surgical microscopes are acquiring advanced functionality through innovative illumination modes.
ENT surgery microscopes perform a crucial role in assisting surgeons in performing surgery by observing the surgical site precisely. During ENT surgery, traversing the anatomy through deep channels and complex structures becomes tough without appropriate illumination. Hence, magnification and lighting play a vital role in ENT surgery and are essential to carry out the procedure by identifying the surgical site properly, along with causing no harm to the nearby organs or tissue.
End-Users Outlook:
By end-users, ambulatory surgical centers are projected to grow at a significant rate of 10.9% in the forecast period. Hospitals, on the other hand, held a major pie of the market share, owing to the factors, including well-resourced operating, higher purchasing power, existence of highly skilled healthcare professionals, and improved health coverage for hospital-based healthcare services from several private and group insurance plans, among others, are responsible for the high market share of hospitals.
Regional Outlook:
North America dominated the market in 2023 and is anticipated to grow at a rate of 9.6% in the forecast period. The market dominance of North America is due to the rising number of ophthalmic surgeries, spinal surgeries, neurosurgeries, and growing awareness pertaining to dental hygiene. Besides, the state of the art medical infrastructure, and high disposable income, among others, are a few factors fuelling the growth of the market in the region.
Europe contributed to the second-largest market share in 2023 and is expected to grow at a rate of 10.1% in the forecast period. The growth of the market in the region is primarily owing to increasing government support for the device manufacturers, among other factors.
Market-O-Nomics
- The valuation for the surgical microscopes market was USD 0.91 billion in 2023, and it is expected to reach USD 2.00 billion by 2032.
- By product type, on-casters contributed to the largest market share in 2023 and is estimated to grow at a rate of 9.9% in the forecast period.
- By application, ophthalmology held the second-largest market share in 2023 and is expected to grow at a rate of 9.8% in the period 2023-2032.
- By end-users, clinics held the second-largest market share in 2023 and are expected to grow at a rate of 10.1% in the forecast period.
- The market in the Asia Pacific region is likely to witness the highest growth rate of 11.5% in the period 2023-2032.
Competitive Landscape:
The companies operating in the market can be segmented on the offering of product types, such as wall-mounted, on-casters, tabletop, and ceiling-mounted. Key companies in the market comprise Alcon, Topcon Corporation, Seiler Instrument Inc., Carl Zeiss Meditec AG, Leica Microsystems, ARI Medical Technology Co. Ltd., Takagi Seiko Co. Ltd., Synaptive Medical, Olympus Corporation, and Metall Zug Group, among others.
The players operating in the market have undertaken a number of strategies related to the market in the period 2023-2020. Some of the key highlights are:
- In February 2020, Synaptive Medical, a leading market player and developer of robotic surgical visualization, announced the of availability of updates to its flagship surgical technology product, Modus V, an automated robotic digital microscope, in the U.S. and Canadian, designed to help surgeons in the operating room for a smooth surgical workflow. The innovative product updates are meant to strengthen the robotic platform by the addition of voice-activated control and 3D visualization of the system from the sterile field.
- In October 2018, Med X Change, Inc. announced the launch of the 4Klear, a 4K Camera and Medical Video Recorder, which is an All-In-One Solution for surgical microscopes. The availability of two products in one; reduces cost, simplifies use, and offers unparalleled Native 4K image quality.
- In August 2023, Leica Microsystems, a leading market player, announced to reveal a new generation of augmented reality imaging technologies for surgical microscopes. Augmented reality imaging technologies enhance the microscope view, to support surgical decision-making and training during intricate neurosurgical processes.
Start-up Traction
The industry offers numerous growth opportunities. Thus, a number of startups, including LightTopTech, providing innovative products and technologies, have been entering the market.
Deal Landscape
Mergers and Acquisitions are an integral part of the surgical microscopes industry. Along with the companies operating in the market, other key market players have also been entering the industry.
- In March 2018, Metall Zug Group announced the completion of the acquisition of 70.0% of Haag-Streit Holding AG. Haag-Streit develops, manufactures, and distributes high-quality products and services for diagnosis and surgery, primarily in the fields of ophthalmology and surgical microscopy.
Expert Insights:
forecasts promising developments for increased adoption of surgical microscopes. According to industry experts, the usage of surgical microscopes in the ambulatory surgical centers is gaining traction in the market in the market. New companies entering the industry would emphasize on designing and developing through innovative solutions, thereby providing visualization and precision to the end-users.
Segments covered in the report:
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the industry trends in each of the sub-segments from 2023 to 2032. The scope of the report can be defined as:
For the purpose of this study have segmented the global surgical microscopes market on the basis of product type, application, end-user, and region:
Product Type Outlook (Revenue, USD Million; 2023-2032)
- Wall Mounted
- On-Casters
- Table-Top
- Ceiling-Mounted
Application Outlook (Revenue, USD Million; 2023-2032)
- Neurosurgery & Spine Surgery
- Ophthalmology
- ENT Surgery
- Dentistry
- Plastic & Reconstructive Surgery
- Gynecology
- Urology
- Others
End-Users Outlook (Revenue, USD Million; 2023-2032)
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Others
Regional Outlook (Revenue, USD Million; 2023-2032)
- North America
- U.S
- Europe
- U.K
- France
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- MEA
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