Surgical Microscopes Market (By Product: On Casters, Wall & Ceiling Mounted; By Application: ENT Surgeries, Dentistry, Oncology, Neurosurgery, Ophthalmology, Plastic & Reconstructive Surgeries, Other Surgeries; By End User: Hospitals & Ambulatory Surgical Centers, Specialty Clinics) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030

Published Date : Aug 2021 | No. of Pages : 200 Pages | Category : Healthcare

According to Vision Research Reports, the global surgical microscopes market size was valued at US$ 625 Mn in 2020 and to surpass around US$ 5.5 bn by 2030 with a CAGR of 20.5% during the forecast period 2020 to 2030.

Increase in the burden of chronic diseases, and growing demand for sophisticated easy-to-maneuver and accurate surgical intervention systems are propelling the adoption of surgical microscopes.

An operating or surgical microscope is an optical instrument that provides the surgeon with a stereoscopic, high quality magnified, and illuminated image of small structures in the surgical area. The operating microscope is a fixture of modern surgical facilities, and it is critically important for the success of several complex surgical interventions that are used today. First used in neurosurgical procedures, surgical microscopes are now heavily utilized in the surgical practices of ophthalmology, otolaryngology, plastic and reconstructive medicine, dentistry, gynecology, oncology, urology, etc. The purpose of a surgical microscope is to improve the surgeon’s view and also improve the usual components of microscopy, magnification, resolution, and illumination. Modern surgical microscopes can be placed on a stand, table or even worn by the surgeon. These microscopes can also be mounted on the ceiling or a wall to conserve floor space in the surgical suite.

A Key Driver

  • Chronic diseases are long-lasting conditions that usually can be controlled but not cured. According to the National Health Council, in the U.S., by 2020, the number of individuals with chronic diseases is projected to grow to an estimated 157 million, with 81 million suffering from multiple conditions.
  • Rise in the geriatric population is another key driver of the global surgical microscopes market, as it constitutes the major share of the patient population suffering from chronic diseases. According to the National Council on Aging, approximately 80% of the elderly population has at least one chronic disease, and 77% has at least two. Four chronic diseases—heart disease, cancer, stroke, and diabetes, lead to almost two-thirds of all deaths each year.
  • According a study published by NCBI (National Center for Biotechnology Information), titled 'Prevalence and correlates of chronic diseases in an elderly population: A community-based survey in Haikou', with an increase in the geriatric population and rise in life expectancy, the leading cause of death may change from infections to chronic non-communicable diseases. It has been reported that, major chronic illnesses that burden the elderly population in high-income countries are hypertension, high cholesterol, arthritis, diabetes, heart disease, cancer, and dementia.
  • Increase in the prevalence of chronic disorders, along with a rise in the geriatric population, is likely to propel the global surgical microscopes market during the forecast period.

High Cost of Surgical Microscopes Hamper Global Surgical Microscopes Market

  • Surgical microscopes are expensive, delicate instruments that require extreme care and precaution in handling and cleaning. All lenses and cords must be carefully inspected before and after every use.
  • According to a study titled 'An Overview on Periodontal Microsurgery', the operating microscope offers flexibility and comfort, superior to magnifying loupes. However, it is much more expensive and difficult to use, at least initially.

Surge of Surgical Microscopes Market to Remain Fostered by Technological Advancements

The study finds that, market players have a huge appetite for innovation, with stability, portability, and visibility being the focal points. Besides the MVPs of surgical microscopes, efforts are being expended to offer value-added products with features such as augmented microscopy, red reflex stability, and a wide-angle view.

A key market player, Coburn Technologies, introduced the HOM-700 that possesses 3D observation and a halogen-illumination system, to offer a better resolution to surgeons. Another player - Haag-Streit Surgical GmbH - announced the launch of Allegra, which has been developed using the red reflex technique, to provide stereoscopic observation during a surgical procedure.

Also, a novel trend of custom-development of microscopy solutions is being well-received by surgeons, which stresses on catering to their specific requirements. An introduction of fluorescence image guided surgery, also known as FIGS, which uses non-toxic contrast agents, has been enabling surgeons to precisely differentiate cancerous and non-cancerous tissues. With ease to conduct surgeries being central, revenue influx will remain powered by hospitals, ambulatory surgical centers (ASCs), and specialty clinics, during the forecast period.

High Investments from Hospitals & Ambulatory Surgical Clinics

According to the VRR study, in 2019, hospitals and ambulatory surgical clinics (ASCs) are projected to account for ~78 percent of the total investments made in the surgical microscopes market. A high number of individuals opting for surgeries over drugs to eliminate the disease from the very cause is likely to turn more patients toward hospitals and ASCs. Also, supportive government initiatives to improve healthcare quality, coupled with favorable reimbursement options, are high impact drivers leading to the adoption of surgical microscopes in these healthcare centers.

Being home to sophisticated healthcare facilities and high use of technology to offer surgical convenience to surgeons, North America is the key surgical microscopes market. The high popularity of surgical microscopes in the region can also be attributable to the concentration of market majors who constantly strive to innovate with new product launches. However, the exponential growth of the surgical microscopes market is witnessed in Asia Pacific, on account of the high returns potential of the region, which attracts investments from leading players operating in developed countries for business expansion.

In terms of product, the on casters segment held a major share of the global surgical microscopes market in 2020. It is likely to maintain its dominance during the forecast period, owing to their increased penetration in the market, and also because they provide ease of operation and maneuverability.

Based on application, the oncology segment is estimated to account for a major share of the global surgical microscopes market. This segment is anticipated to expand at a rapid pace during the forecast period. According to the National Cancer Institute, in 2016, there were an estimated 15,338,988 people living with cancer in the U.S.

In terms of end user, the hospitals & ambulatory surgical centers segment is anticipated to dominate the global surgical microscopes market during the forecast period, due to an increase inpatient admissions in hospitals and ambulatory surgical centers. Surgical microscopes are used in various surgeries such as ENT surgeries, neurosurgery, dental surgeries, etc. Surgical microscopes, along with technological advancements, provide surgeons with better insights, enabling appropriate decision-making regarding the treatment procedure. However, the high cost of procurement of surgical microscopes and lack of skilled professionals are factors that are expected to hamper the growth of the surgical microscopes market during the forecast period.

Prominent Regions

North America holds a major share of the global surgical microscopes market. The market in the region is estimated to expand at a rapid CAGR during the forecast period. It is primarily driven by factors such as highly structured healthcare industry and availability of well-defined reimbursement policies from private and public health insurance firms. In addition, the adoption of new technologies related to surgical microscopes, along with high awareness among people about diseases and related cure & technologies, and a large number of players in the North American region focusing on R&D activities to introduce technologically-advanced surgical microscopes with improved design are driving the surgical microscopes market in the region. The surgical microscopes market in Asia Pacific is estimated to witness significant growth. Asia Pacific is a relatively untapped market as compared to developed regions. Hence, the region offers immense growth opportunities to market players. Factors such as high prevalence of chronic diseases, rise in geriatric population resulting in increased number of surgeries, surge in patient population, and growth of the healthcare industry in the region are factors fueling the expansion of the surgical microscopes market in the region.

Europe held the second-largest market share in 2020. Well-developed healthcare infrastructure and increase in the number of surgical procedures are driving the surgical microscopes market in the region. This markets in the Middle East & Africa and Latin America are projected to witness moderate growth in the near future.

Key Players

Key players are expanding their footprint to strengthen their position in the global surgical microscopes market. Emerging economies, due to an increase in the number of patient population and surgical procedures, offer lucrative opportunities to key players to increase their market share. Manufacturers are engaging in new product development, collaborations, acquisitions, and distribution agreements. For instance, In March 2018, The Metall Zug Group completed 70% acquisition of HAAG-STREIT GROUP, headquartered in Köniz, Switzerland. Haag-Streit Holding AG develops, produces, and distributes high-quality products and services for diagnosis and surgery, mainly in the fields of ophthalmology and surgical microscopy. Following this acquisition on February 28, 2018, Haag-Streit Holding AG formed the fourth Business Unit Medical Devices of the Metall Zug Group.

Prominent players operating in the global surgical microscopes market are ZEISS International, Leica Microsystems (Subsidiary of Danaher), HAAG-STREIT GROUP (Metall Zug Group), TOPCON CORPORATION, Alcon, Takagi Ophthalmic Instruments Europe Ltd., Ecleris, Optomic, Seiler Instrument Inc., and ATMOS MedizinTechnik GmbH & Co. KG.

Market Segmentation

Surgical Microscopes Market by Product

  • On Casters
  • Wall & Ceiling Mounted

Surgical Microscopes Market by Application

  • ENT Surgeries
  • Dentistry
  • Oncology
  • Neurosurgery
  • Ophthalmology
  • Plastic & Reconstructive Surgeries
  • Other Surgeries

Surgical Microscopes Market by End User

  • Hospitals & Ambulatory Surgical Centers
  • Specialty Clinics

Surgical Microscopes Market by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Report Scope

The Surgical microscopes market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Surgical microscopes market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Surgical microscopes market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Surgical microscopes market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Surgical microscopes market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Surgical microscopes capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Surgical microscopes by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Surgical microscopes market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Surgical microscopes market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Surgical microscopes market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Surgical microscopes industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Surgical microscopes market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Surgical microscopes market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Surgical microscopes market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Surgical microscopes market. These factors have benefited the growth of the global market for Surgical microscopes. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Surgical microscopes. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Surgical microscopes are as follows:

  • History Year: 2017-2020
  • Base Year: 2020
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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