In a recently published report, Surgical Microscope Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Surgical Microscope Market products.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Global 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. 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.
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 (Möller-Wedel GmbH)
Accu-Scope Inc.
Alltion (Wuzhou) Co., Ltd.
Arri Medical (Arri Group)
Karl Kaps GmbH & Co. Kg
Takagi Seiko Co. Ltd.
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
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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
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
Investment bankers
Investors
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