Surgical Microscope Market Higher Growth Rate and Forecast 2017 - 2025
The global market for surgical microscope is gaining significantly from the increasing prevalence of various chronic diseases, such as cancer, where surgery is essential for the treatment. According to the WHO, nearly 13.0% deaths across the world are caused by cancer, the number of which is likely to increase in the near future, further driving the demand for surgical microscopes. The geriatric population has emerged as the key target population segment of these microscopes, owing to the high incidence rate of age-related deformities and their susceptibility to chronic disorders.
Mostly, casters, tabletop, wall mounted, and ceiling mounted microscopes are available across the world. Casters, commonly known as surgical microscopes, enjoy the most prominent demand among all types of microscopes and the trend is anticipated to remain so over the next few years. The portability and superior cleaning capability of casters have a significant impact on their demand.
Hospitals and clinics have surfaced as the prime end users of surgical microscopes, worldwide. Among these, the demand for these microscopes is significantly high in hospitals. The increasing volume of surgeries, increase in government funds, surge in the patients' pool, and the escalating number of surgeries are the main forces that are driving the demand for these devices in hospitals. Going forward, the rising availability of compact operational microscopes and the ongoing boom in the dentistry industry are projected to fuel the demand for these microscopes in private clinics in the near future.
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Global Surgical Microscope Market: Overview
With a rising number of people undergoing surgeries, there is an upsurge in the adoption for minimally invasive surgical instruments, which in turn translating into a greater demand for surgical microscopes. A surgical microscope is an optical device, which is electrically or mechanically operated, designed to be used in a surgical setting, typically for microsurgeries. It finds applications in various types of surgeries including spine and neuro, ophthalmology, oncology, dentistry, ENT, urology, gynecology, and plastic and reconstructive. The global surgical microscope market is anticipated to witness significant growth with rapid technological advancements over forthcoming years.
The objective of the research report is to offer a 360-degree view of the global surgical microscope market. It does so by providing an immaculate understanding of all the important parameters of the market. It has been compiled using data from various paid and unpaid sources, including press releases, white papers, journals, and presentations. It extensively covers the factors impacting the growth of the market. It offers vital insights into the competitive landscape of the market. It also profiles key players in the market and gives a brief overview of their business strategies, latest developments, market shares, and contact information. It presents statistics pertaining to the global surgical microscope market at both global and regional levels.
Global Surgical Microscope Market: Drivers and Restraints
The continuous research and development activities in the field of life science are providing a fillip to the growth of the global surgical microscope market. Governments worldwide are allocating substantial budgets for medical advancements. Moreover, the improving healthcare facilities in developing countries coupled with increasing healthcare spending are augmenting the market. Furthermore, the growing geriatric population is working in favor of the market. Since aged people are more likely to undergo surgeries due to higher susceptibility to chronic diseases and age-related deformities, they are estimated to be the key target demographic segments for key players in the market.
On the other hand, the high cost of surgical microscopes is hampering their widespread adoption, particularly in developing nations. This is further compounded by heavy taxes levied on medical devices in terms of custom duties. However, the widening applications of these devices are unfolding numerous growth opportunities for the market.
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Global Surgical Microscope Market: Region-wise Outlook
The key segments methodically examined in the research report are North America, Europe, Asia Pacific, and Rest of the World. North America and Europe will account for a substantial share of the revenue pie throughout the forecast period. The incessant developments in life science vertical and higher acceptance of advanced technologies are fuelling the growth of the regions. Moreover, the growing geriatric population is leading to a greater uptake of surgical microscopes in these regions.
Asia Pacific will be a potential market for key players. The rapidly increasing population, improving healthcare facilities and favorable reimbursement scenarios in countries such as India, China, and Japan. The rising consumer expenditure on healthcare is also boosting the demand for surgical microscopes in the region. China is expected to be a sight of high growth rate in the region.
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Global Surgical Microscope Market: Competive Landscape
Key players in the global surgical microscope market are aiming at strengthening their foothold through mergers and acquisitions. They are also focusing towards offering advanced and innovative products that are in line with end user requirements. Some of the prominent companies operating in the market are Carl Zeiss, Topcon, Haag-Streit Surgical, Leica Microsystems, and Alcon.
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