Ophthalmic Operating Room Microscope Market to reach $0.59 billion by 2027

According to a new report published by Allied Market Research, titled, "Ophthalmic Operating Room Microscope By Product, Indication, and End User: Opportunity Analysis and Industry Forecast, 2019–2027," the global ophthalmic operating room microscope market size was valued at $0.43 billion in 2019 and is expected to reach $0.59 billion by 2027 with a CAGR of 5.1% during the forecast period.

An operating microscope or surgical microscope is an optical microscope specifically designed to be used in a surgical setting to perform microsurgery. Ophthalmic operating room microscopes are designed to provide high contrast and detailed imaging of all regions of the human eye.

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Rise in geriatric population and increase in affectivity of minimally invasive ophthalmic surgeries are the major factors that propel the growth of the global ophthalmic operating room microscopes. In addition, rise in prevalence of various eye-related diseases globally is expected to drive the ophthalmic operating room microscope market growth. However, increase in custom tax restricts the medical devices import, which acts as a key restraining factor of the market. Moreover, high cost of maintenance is expected to hamper the market growth.

On the contrary, extensive research & development efforts in ophthalmology and evolution in ophthalmic imaging are anticipated to offer remunerative opportunities for the expansion of the global market during the forecast period.

By product, the global ophthalmic operating room microscope market is categorized into on casters, wall mount, table top, and ceiling mounted. The on casters microscope segment held the largest share in 2019, and is expected to continue the trend during the forecast period. This is attributed to advantages offered by on caster microscope such as effective maneuvering and repositioning functionality requiring minimum efforts, which help in reducing the duration of the operation.

The indications covered in the study include cataract surgery, LASIK, keratoplastry surgery, trabeculectomy, and others. The cataract surgery segment was the largest revenue generator in 2019. This is attributed to rise in cases of cataract across the globe. For instance, in North America 2015, around 24 million individuals were affected by cataract, this number is likely to reach 38.7 million by 2030.

Depending on end user, the ophthalmic operating room microscope market is fragmented into hospital & clinics and ambulatory surgical centers. The ambulatory surgical centers segment is expected to reach the highest during the forecast period. This is attributed to rise in surgical care costs, In addition, some insurers have considered incentivizing patients to undergo surgery at age-related macular degeneration (ASCs) rather than hospital outpatient departments. For instance, approximately 53 million outpatient surgeries are performed in the U.S. annually.

Furthermore, the proportion of cataract surgeries performed at ASCs increased steadily over time, reaching 73.0%. in 2014 compared to earlier years.
Region wise, the ophthalmic operating room microscope market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America dominated the market in 2019, owing to presence of large patient base suffering from ophthalmic disorders. In addition, due to its well-established healthcare infrastructure and increase in need for ophthalmic surgeries, the demand of ophthalmic operating room microscope is anticipated to rise exponentially, thereby contributing toward the growth of the market.

However, Asia-Pacific is expected to register the highest CAGR in terms of revenue during the forecast period, owing to rise in cataract surgeries along with government initiatives to promote manufacturing of medical devices. In addition, improvement in the healthcare infrastructure is anticipated to provide a major opportunity for the region, which is catching attention of ophthalmic device manufactures. Government initiatives and awareness programs toward eye-related diseases are expected to propel the demand for ophthalmic operating room microscope in Asia-Pacific.

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The COVID-19 pandemic has impacted the ophthalmic operating room microscope market. The implementation of lockdown across the globe resulted in postponing the surgeries, which, in turn, declined the number of ophthalmic patients visit in hospitals. In addition, since routine ophthalmic examinations are usually performed in a setting with close doctor–patient contact, tears could become a source of cross-infection. Therefore, eye care professionals shall remain highly vigilant.

Market players are adopting growth strategies such as product launches, acquisitions, product developments, and partnerships & collaborations to gain competitive advantage. For instance, in December 2019, a new era of visualization began with the ZEISS ARTEVO 800. Unveiled at the ASCRS meeting in May 2019, this first-of-its-kind digital microscope is now commercially available in both the U.S. and Europe. In addition, ZEISS entered into a partnership with more than 300 ophthalmic surgeons. The digital microscope can be used as an imaging, information, and teaching tool in cataract, corneal, retinal, and glaucoma surgeries.

Prominent players operating in the global ophthalmic operating room microscope market include Alcon (Novartis AG), Johnson & Johnson, Carl Zeiss Meditec AG, Inami & Co., Ltd, Takagi Seiko Co., Ltd, Leica Microsystems (Danaher Corporation), Topcon Corporation, Kaps GmbH & Co. KG, (Haag-Streit Holding) Metall Zug Group, and Seiler medical.

Key Findings Of The Study
• Depending on product, on caster segment led the ophthalmic operating room microscope market in 2019.
• By application, the LASIK segment is estimated to generate 38.1% share by 2027.
• On the basis of end user, the hospitals & clinics is accounted to have 69.2% share in 2019.
• Region wise, North America occupied substantial revenue share of the ophthalmic operating room microscope market in 2019, whereas Asia-Pacific is anticipated to grow with the highest CAGR during the forecast period.

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