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Surgical Microscopes Market is growing at a CAGR of 8.9% by 2022

02-04-2020 02:36 PM CET | Health & Medicine

Press release from: Allied Market Research

/ PR Agency: Allied Market Research
Surgical Microscopes Market

Surgical Microscopes Market

"Surgical Microscopes Market by Application, End-User, Price Range, Geography - Global Opportunity Analysis and Industry Forecast, 2014 - 2022", projects that the global surgical microscopes market would reach $818 million by 2022 from $447 million in 2015, growing a CAGR of 8.9% from 2016 to 2022. Ophthalmology application segment is expected to remain the highest revenue-generating segment throughout the forecast period. North America held the leading position in the global market in 2015, and is expected to maintain its lead throughout the study period.

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The demand for surgical microscopes has witnessed tremendous growth due to growth in global geriatric population, increase in R&D activity in life science sector, growth in health care infrastructure, and increase in demand for minimally invasive surgeries. In addition, governmental funding & support for implementing the healthcare infrastructure and technological advancement are some of the factors anticipated to play a major role in the growth of the developed markets. However, sale of used and refurbished equipment and high pricing of equipment in developing region are some of challenges, which can hamper the growth of the market to some extent during the forecast period. "Technologically advanced products and customizations for clinical and pre-clinical applications have enabled Tier II and Tier III players to penetrate into the market; while, Tier I players have strengthened their market position through organic growth and acquisitions strategies." Says Analyst, Jayant Nannore, at AMR

Ophthalmology segment dominated the market in 2015 with one-fourth market share, and is expected to maintain its dominance throughout the forecast period due to increase in population undergoing ophthalmic surgeries worldwide. Moreover, ENT segment is projected to exhibit higher growth rate among all the other applications, closely followed by plastic & reconstructive surgery and oncology segments.

In 2015, outpatient facilities was the largest end-user segment and is expected to remain predominant over the forecast period. In addition, low price range surgical microscopes accounted for more than two-fifths market share in 2015 and is anticipated to grow at higher CAGR when compared with mid-range and premium range surgical microscopes.

Summary of the Surgical Microscopes Market Report can be accessed on the website at: https://www.alliedmarketresearch.com/surgical-operating-microscopes-market

Key findings of the study:

ENT is expected to witness highest CAGR of 9.3% during the forecast period.
Outpatient facilities is predicted to be the fastest growing end-user segment with a CAGR of 9.0% during the analysis period.
North America is anticipated to lead the market, growing at a CAGR of 8.2% from 2016 to 2022.
China and India are projected to grow at higher CAGR of 16.4% and 13.6%, respectively, during the forecast period.
Low-range surgical microscope to remain dominant over the forecast period and is also estimated to grow at a high CAGR.

In 2015, North America and Europe collectively accounted for more than 60% of the worldwide demand for surgical microscopes and are expected to maintain their lead position throughout the forecast period. However, Asia-Pacific is projected to be the fastest growing region, with a CAGR of 10.7% during the forecast period, followed by LAMEA and North America.

All the industry players invest immensely in R&D to upgrade their product segments and to further penetrate into market. The major companies profiled in the report include ACCU-SCOPE, Inc., TAKAGI SEIKO CO., LTD., Alltion (Wuzhou) Co., Ltd., ARRI AG, Carl Zeiss, Haag-Streit U.S., Leica Microsystem GmbH, Alcon Laboratories, Inc., Topcon Medical Systems, Inc., Olympus Corporation, and Global Surgical Corporation.

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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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