(PharmaNewsWire.Com, October 04, 2019 ) The global surgical microscopes market is segmented on the basis of application, end user, and region. On the basis of application, the market is segmented into neuro and spine surgery, plastic and reconstructive surgery, ophthalmology, gynecology and urology, oncology, dentistry, ENT surgery, and documentation.
Global market size -
According to research report the global surgical microscopes market is projected to reach USD 915.6 million by 2021 from USD 508.1 million in 2016, growing at a CAGR of 12.5% during the forecast period. The global surgical microscopes market is segmented on the basis of application, end user, and region.
• On the basis of application, the market is broadly segmented into neuro and spine surgery, plastic and reconstructive surgery, ophthalmology, gynecology and urology, oncology, dentistry, ENT surgery, and documentation. In 2016, the neuro and spine surgery segment is expected to account for the largest share of the market due to the increasing demand for surgical/operating microscopes in neurosurgery.
o However, the oncology segment is expected to grow at the highest CAGR during the forecast period. This can be attributed to the increasing prevalence of cancer around the world.
• On the basis of end user, the surgical microscopes market is segmented into hospitals and outpatient facilities. In 2016, hospitals are estimated to account for the largest share of the global surgical microscopes market. The growing usage of surgical/operating microscopes in complex neurology, ENT, and dental procedures, and implementation of less-invasive surgical instruments during MIS procedures in hospitals are key market drivers in this end-user segment. In 2016, North America is expected to account for the largest share of the global surgical microscopes market.
o Factors such as the growing demand for minimally invasive surgical procedures, infrastructural advancements in healthcare facilities, and increase in the number of surgeries are driving the growth of the North American surgical microscopes market.
• The increasing use of fluorescence image-guided surgery (FIGS).
• Increase in the number of surgeries and growing demand for MIS.
• Advancements in healthcare facilities.
• Technological advancements, and customized microscopy solutions.
However, factors such as high cost of advanced surgical/operating microscopes, implementation of excise tax by the U.S. government, and high custom duties on medical devices are restraining the growth of this market to a certain extent.
Geographical overview -
The Asia-Pacific region (comprising China, India, and RoAPAC) is expected to grow at the highest CAGR during the forecast period. The high growth in this regional segment can primarily be attributed to the presence of high-growth markets such as Japan, China, India, South Korea, Taiwan, Australia, and Singapore. In recent years, the Asia-Pacific market for surgical/operating microscopes has witnessed significant growth due to improving R&D infrastructure, rising focus of market players, and increasing government initiatives.
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