Surgical Microscopes Market | Top Trends and Key Players Analysis Report 2031

Surgical Microscopes Market Outlook 2031

The global surgical microscopes market was valued over US$ 0.7 Bn in 2021

It is estimated to grow at a CAGR of 8.3% from 2022 to 2031

The global surgical microscopes market is expected to exceed value of US$ 1.7 Bn by the end of 2031

Overview of Surgical Microscopes Market

The surgical/operating microscope is a medical equipment that provides bright illumination, clear visualization, and adjustable magnification of the surgical field, and they are being increasingly utilized in operating theaters. Cutting-edge surgical microscopes are integrated with multiple imaging modalities, including augmented reality (AR), fluorescence imaging, and optical coherence tomography (OCT) for image-guided surgery.

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The global surgical microscopes market is estimated to grow at a decent growth rate during the forecast period, owing to key technological advancements in surgical microscopes, surge in R&D funding, rise in demand for ophthalmic surgery microscopes, and increase in prevalence of chronic diseases.

Exponential Rise in Surgical Procedures to Boost Demand for Surgical Microscopes Worldwide

Notable rise in the number of surgeries, primarily attributed to the significant increase in geriatric population across the globe, is expected to propel the surgical microscopes market. For instance, as per data published by World Health Organization (WHO), between 2015 and 2050, the proportion of the global population of over 60 years would almost double from 12% to 22%. Furthermore, some countries in Asia, such as Japan, are also dealing with ageing populations. Currently, almost 25% of Japan's population is above the age of 65, and this population is expected to surge up to 40% by 2060.

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According to the Eurostat, a Directorate-General of the European Commission located in the Luxembourg, at least 1.16 million caesarean sections were performed across the 27 European Union countries in 2018. Moreover, as per the American Society of Plastic Surgeons, a significant plastic surgery specialty organization across the globe, nearly 15.6 million cosmetic surgeries were carried out in 2020.

Urology Segment to Create Lucrative Opportunities in Global Surgical Microscopes Market

 Prevalence and incidence of urological conditions, including end-stage renal disease (ESRD), chronic kidney disease (CKD), kidney and ureteral stones, bladder and prostate cancer, and urinary incontinence have been increasing dramatically across the globe for the past few years. As per research conducted by Global Forum on Incontinence - (GFI), a platform for education and debate around continence care, almost 4% to 8% of the global population (nearly 400 million individuals) were suffering from urinary incontinence in 2018. The prevalence of urinary incontinence is projected to increase, owing to a surge in incidence of obesity, as this is the major risk factor for urinary incontinence. This is anticipated to propel the market.

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Additionally, key players across the globe are also launching novel strategies in order to strengthen their position and offer advanced products to end-users. For instance, Boston Scientific announced the official launch of LithoVue, a flexible, digital, single-use ureteroscope for minimally invasive surgery in order to diagnose and treat stones and other disorders of the ureter, bladder, and kidneys.

Rise in Demand for On Casters Microscopes Due to Repositioning Functionality and Effective Maneuvering

 In terms of product, the global surgical microscopes market has been bifurcated into on casters and wall & celling mounted. The on casters segment held a major share of almost 70% of the market in 2021. The segment is estimated to grow consistently at a CAGR of 8% during the forecast period. This growth is primarily due to the key advantages offered by on caster microscope, such as repositioning functionality and effective maneuvering that require less effort, which helps reduce the duration of surgical procedures.

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Increase in Use of Surgical Microscopes in Oncology to Propel Global Market

Based on application, the global surgical microscopes market has been classified into dentistry, ENT surgery, neurosurgery, oncology, plastic & reconstructive surgeries, ophthalmology, and other surgeries. The oncology segment dominated the global surgical microscopes market and held around 21.6% share in 2021. Significant rise in incidence of cancer, globally, is one of the prominent factors that is estimated to fuel the segment during the forecast period.

Furthermore, key technological innovations are expected to drive the demand for surgical microscopes globally. For instance, in April 2019, Leica Microsystems, a Germany-based microscope manufacturing company, received DeNovo clearance from the U.S. FDA to commercialize its 'FL400 surgical microscope'. This microscope plays a key role in differentiating malignant glioma tissue from normal brain tissue.

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 Market to Witness Consistent Demand for Advanced and Innovative Surgical Microscopes from Hospitals & Ambulatory Surgical Centers

In terms of end-user, the global surgical microscopes market has been split into hospitals & ambulatory surgical centers and specialty clinics. The hospitals & ambulatory surgical centers segment held around 70% share of the global surgical microscopes market in 2021. Furthermore, the segment is expected to grow at a notable CAGR of 8.4% during the forecast period. This growth of the segment can be ascribed to the rise in adoption of surgical microscopes solutions by hospitals/clinics in order to provide better health services. Additionally, exponential increase in the utilization of advanced and innovative surgical microscopes are crucial factors that are likely to propel the segment.

Regional Outlook of Global Surgical Microscopes Market

In terms of volume, North America held a share of approximately 40% of the global surgical microscopes market in 2021. Heavy investment in R&D by key manufacturers and increase in prevalence of cardiovascular and oncology diseases, particularly across the U.S. and Canada, are key factors that are likely to drive the segment during the forecast period. Moreover, major drivers of the North America surgical microscopes market are increase in the number of surgeries, need for high-speed diagnostics, and innovations in the healthcare infrastructure. Europe was also a prominent consumer of surgical microscopes, globally, in 2021. Easy availability of skilled workforce, along with strong presence of key manufacturers, including Carl Zeiss AG Novartis AG, and Hagg-Streit Surgical GMBH, are a few factors driving the market in the region.

Latin America is a prominent consumer of surgical microscopes as compared to Middle East & Africa; Moreover, the market in Latin American is estimated to grow at a rapid pace as compared to the market in Middle East & Africa.

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Analysis of Key Players in Global Surgical Microscopes Market

The global surgical microscopes market is consolidated with the large-scale vendors controlling majority of the market share. The firms are spending significantly on comprehensive research and development, primarily to develop innovative devices. Diversification of product portfolios and mergers & acquisitions are notable strategies adopted by key players. Leica Microsystems (Subsidiary of Danaher), Carl Zeiss Meditec AG, TOPCON CORPORATION, HAAG-STREIT GROUP (Metall Zug Group), Takagi Ophthalmic Instruments Europe Ltd., Alcon, Optomic, Ecleris, ATMOS MedizinTechnik GmbH & Co. KG, and Seiler Instrument Inc. are the prominent entities operating in the market.

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