Global Surgical Microscope Market Driven by Complex Procedures and Emerging Technologies – Business
Image: The global market for surgical microscopes is expected to reach $2.9 billion by 2030 (Photo courtesy of Pexels)
Surgical microscopes have become an essential tool for minimally invasive procedures in several fields, including neurosurgery, ophthalmic surgery, dental surgery, otolaryngology, and cosmetic surgery. Technological advancements in the field have greatly improved vision, stability, and sizing, positioning, and recording capabilities, as well as contributing to the integration of image-guided microscope systems for better results. Surgical microscopes provide 3D visualization, optimal illumination and magnification of deep surgical fields through small approaches. Besides the clinical benefits, surgeons benefit physically from these microscopes as they allow them to adjust their posture while performing long and complicated procedures. Additionally, surgical microscopes have revolutionized the field of minimally invasive surgeries as they allow surgeons to perform surgeries with maximum precision on the actual pathology by magnifying the surrounding anatomical structures, which improves patient outcomes with longer duration. shorter procedure and quick recovery. Additionally, the limitations of open surgeries have been significantly eliminated by integrating the workflow into operating rooms. Majority of surgeons are adopting minimally invasive surgeries in various surgical fields across the world.
The global surgical microscope market is expected to grow at a CAGR of 11.37% from 2022 to 2030 to reach USD 2.9 billion, driven by an increasing number of surgical procedures, demand for more precision and emerging technologies, such as as wide angle illumination, red reflex illumination and augmented reality (AR) microscopy. The introduction of technologically advanced products is driving the demand for surgical microscopes as they are more precise, provide better illumination sources, and provide options for customization and technology integration depending on the complexity of the procedures. Population in emerging economies are willing to pay for premium services owing to their growing disposable income which is expected to drive the demand for minimally invasive surgeries which in turn is expected to drive the growth of the surgical microscope market in the during the forecast period. . In response to the COVID-19 pandemic, hospitals had decided to suspend all elective and elective surgeries, which had a negative impact on the market. However, with the easing of restrictions, treatments are resuming in many countries, including developing countries. Improvements in healthcare infrastructure and the adoption of technologically advanced devices in developing countries have dramatically improved patient outcomes. Additionally, due to the increase in disposal income, individuals are opting for expensive medical procedures such as minimally invasive surgeries that require the use of surgical microscopes as they provide better resolution and magnification. These factors are fueling the increased demand for advanced medical equipment such as surgical microscopes, thereby driving the growth of the market.
These are the latest findings from Grand View Research, Inc. (San Francisco, CA, USA), a market research and consulting firm.
Based on type, wheeled segment dominated the surgical microscope market with revenue of USD 880.9 million in 2021. Wheeled microscopes are floor-mounted devices that have retractable casters with single, double or composed. Surgical microscopy on wheels is used in the majority of surgical fields, including dental, ophthalmology, neurosurgery, cosmetic procedures and ENT. Wheel-mounted microscopes take up less floor space and can be easily moved in any direction according to the convenience of surgeons. This is driving the demand for wheeled microscopes, thereby supporting the growth of the segment.
The wall-mounted surgical microscope segment held the second largest share of the surgical microscope market, followed by tabletop and ceiling microscopes. The wall-mounted surgical microscope segment is expected to register a CAGR of 11.44% during the forecast period. Wall-mounted microscopes are used less frequently due to their limitations such as restricted flexibility and lighting and maintenance issues. However, such microscopes are preferred in examination or operating rooms with limited space. In addition, the wall microscopes are equipped with an integrated spring system, which can be tightened depending on the weight of a person. These factors contribute to the growing demand for wall mounted microscopes.
Based on applications, ophthalmology segment held the largest share of surgical microscopes market in 2021 with revenue of USD 412.9 million due to factors such as increasing number of patients, increase demand for devices to meet surgical requirements and the increasing volume of cataract surgeries. Various ophthalmic surgeries such as laser eye surgery; glaucoma, cornea and eye muscle surgeries; and oculoplastic surgeries, require surgical microscopes. The complex anatomy of the eye and the availability of a wide range of products for the treatment of various ophthalmic conditions are fueling the growth of the segment. The neurosurgery and spine surgery segment is expected to register a CAGR of 11.01% and 10.48%, respectively, during the forecast period. The overall segment held the second largest share of the surgical microscope market in 2021. Neurosurgery and spinal surgery includes surgeries related to the nervous system including all parts that are in the peripheral nerves, spinal cord , brain and extracranial cerebrovascular. system. As surgical microscopes play a vital role in neurosurgery by providing better illumination and three-dimensional views, manufacturers are focusing on product innovations to increase treatment efficiency, such as augmented reality imaging technologies for surgical microscopes to supplement surgical microscope views for neurological procedures.
In terms of end use, hospital segment led the global surgical microscope market in 2021 with revenue of USD 648.9 million owing to higher number of patient admissions and operations performed in hospitals and increased financing capacities. Additionally, hospitals have funds to purchase the most advanced surgical equipment to improve and streamline workflow in operating rooms. The medical clinics and other establishments segment is expected to register the fastest CAGR of 12.43% during the forecast period. The availability of smaller operating microscopes and the rapid growth in the field of dentistry are some of the major factors contributing to the growth of the segment. In recent years, health care delivery has shifted from inpatient hospital settings to various community and outpatient settings. Due to the growing demand for shorter hospital stays and faster recovery, a higher number of patients prefer outpatient surgery centers.
Geographically, North America led the global surgical microscope market in 2021 with revenue of USD 437.6 million owing to the presence of favorable reimbursement framework for medical treatment and sophisticated healthcare facilities in the region who are equipped with highly advanced tools and skilled neurosurgeons and cosmetic surgeons. . Additionally, the prevalence of ophthalmic and neurological disorders is significantly higher in this region, which facilitates the growth of the North American surgical microscope market. Companies in the region are launching innovative products that are also expected to fuel the market growth in North America. The Asia-Pacific surgical microscope market is expected to register the fastest CAGR of 12.27% during the forecast period. Rising instances of ophthalmic disorders, growth in medical tourism, and increasing number of surgeries being performed in inpatient and outpatient settings are some of the major factors driving the surgical microscope market in Asia Pacific. Furthermore, favorable government policies to improve healthcare system and rapid economic development in many countries in the region are expected to drive the market growth over the forecast period.
Grand View Research, Inc.