Surgical microscopes had been honed to be a precise tool with a number of enticing characteristics at the time. They have high-precision optics and high-power coaxial illumination, allowing surgeons to alter magnifications, work at the right distance, and see the entire operating field unimpeded. Surgical microscopes have been used in a variety of surgeries, including neuro and spine surgery, ENT surgery, dentistry, ophthalmology, and plastic and reconstructive surgery, due to numerous advantages such as clear and bright visualization, easy documentation and adaptation, stability, maneuverability, and improved ergonomics.
The surgical microscopes market report highlights that the overall surgical microscopes market was valued at $928.3 million in 2020 and is expected to reach $3,578.2 million by the end of 2031. The market is expected to grow at a CAGR of 13.3% during the forecast period from 2021 to 2031.
Impact of COVID-19 on Surgical Microscopes
Surgical microscopes are frequently used in minimally invasive surgical operations, and the growing desire for MIS treatments has played a crucial role in the healthcare business in recent decades, with the number of MIS procedures increasing significantly in the last five years.
In the first half of 2020, the COVID-19 pandemic had a significant influence on elective surgical procedures. On a global scale, the COVID-19 pandemic had a significant influence on regular hospital routine services. During the early stages of the pandemic, hospitals drastically restricted or stopped performing elective surgical procedures to ensure patient safety and to focus on COVID19 patients.
The large-scale decline in the volume of elective surgical procedures had a significant impact on patients as well as financial consequences for medical device producers. As a result, sales of minimally invasive surgical equipment have declined.
Market Segmentation
Surgical Microscopes Market (by Product Type)
Different technologies that have been studied and analyzed under the surgical microscopes market report include conventional microscopes and advanced microscopes.
Conventional microscopes generate the highest revenue in the surgical microscopes market, and advanced microscopes are expected to rise at a faster pace between 2021 and 2031. This is mostly due to a rise in technologically advanced options and features like the incorporation of LED lights, better visualization, and precision.
Surgical Microscopes Market (by Application)
Different applications that have been studied and analyzed under the surgical microscopes market report include ENT, dental, ophthalmology, neurology, gynecology, spine, and plastic and reconstructive.
In the surgical microscopes market, the ENT segment generates the most revenue, while plastic and reconstructive is projected to expand at the fastest rate between 2021 and 2031. The plastic and reconstructive segment is projected to grow at the fastest rate because of the growing demands for plastic and reconstruction surgeries across the globe.
Surgical Microscopes Market (by Region)
The different regions covered under the surgical microscopes market report include North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
North America dominated the global surgical microscopes market in 2020 and is anticipated to uphold its dominance throughout the forecast period. The growth in the market is majorly driven by the increasing adoption of surgical microscopes by surgeons in various medical fields such as neurology, ENT, ophthalmology, gynecology, etc. Also, the ongoing trend for the rise in demand for multi-modality imaging is putting a significant impact on the market growth.
Key Market Players and Competition Synopsis
Some of the key players operating in the market include Alcon, Inc., B. Braun Melsungen AG, BHS Technologies GmbH, Carl Zeiss Meditech AG, Haag-Streit Holding AG (Metall Zug AG), Karl Storz SE & Co. KG, Danaher Corporation (Leica Microsystems GmbH), Munich Surgical Imaging GmbH, Olympus Corporation, Synaptive Medical, Inc., and Topcon Corporation.
The surgical microscopes market has witnessed several strategic and technological developments in the past few years, undertaken by the different market players to attain their respective market shares in this emerging domain. Some of the strategies covered in this segment are new offerings and upgradation, collaborative activities (partnerships, alliances, and business expansions, mergers and acquisitions), and regulatory and legal activities. The preferred strategy for companies has been new offerings and upgradation.
Key Questions Answered in the Global Surgical Microscopes Market Report
• How has the COVID-19 pandemic impacted the global surgical microscopes market?
• What is the regulatory landscape of the global surgical microscopes market? How have the regulations altered due to the COVID-19 pandemic?
• What has been the patent landscape for the market during 2017-2021?
• What are the major companies operating in the market and their respective market share?
• What are the major strategies employed by the companies to enter the market or for business expansion?
• How are advanced microscopes different from conventional microscopes?
• What are the major industry trends, market drivers, and market restraints that would impact the market during the forecast period 2021-2031? What are the growth opportunities for the market?
• Which product type, application, and end-user segment are expected to dominate the market during the forecast period 2021-2031?
• What would be the country-level revenue share and CAGR for the market during the forecast period 2021-2031?
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Who should buy this report?
• Surgical Microscopes manufacturers (emerging and established)
• Established technology companies
• Hybrid OT manufacturers
• Healthcare facilities
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