Surgical Microscope Market is Projected to Grow at A CAGR of 11.2% During, 2020-2026

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OVERVIEW

Surgical Microscope Market was valued at $908.4 million in 2019 with a CAGR of 11.2% from 2020 to 2026.

A surgical microscope is an optical microscope designed to be used in a surgical setting to perform microsurgery. Surgical microscope is used during surgery to magnify areas of the anatomy where the surgery will operate. The surgical microscopes are employed in plastic and reconstructive surgery, neuro and spine surgery, oncology, gynecology and urology, ear, nose, and throat (ENT) surgery, ophthalmology, and others.

The increasing number of surgeries and growing demand for minimally-invasive procedures is boosting the global surgical microscope market. For instance, according to the American Society of Plastic Surgeons (ASPS), in 2018, there were around 17.7 million minimally-invasive and surgical cosmetic procedures performed in the United States. In the United States, there are more than 1.8 million cosmetic surgery performed in 2018 including 313,735 breast augmentation procedures, 258,558 liposuction procedures, 213,780 nose reshaping procedures, 206,529 eyelid surgery procedures, and 130,081 tummy tuck procedures are performed. In 2018, there are around 15.9 million cosmetic minimally-invasive procedures performed in the United States including 7.44 million Botulinum Toxin Type A procedures, 2.68 million Soft Tissue Fillers procedures, 1.38 million Chemical Peel procedures, 1.1 million Laser hair removal procedures, and 709,413 Microdermabrasion procedures are performed. The surgical microscopes are used in minimally invasive and microsurgery. Surgical microscope is a stereoscopic binocular microscope with different magnification levels, giving an upright, three-dimensional image. The surgical microscope is used to obtain good visualization in the operating field. Further, increasing the use of fluorescence image-guided surgery (FIGS) is a key driving factor of the market.

Plastic and Reconstructive Surgery, Neuro and Spine Surgery, Oncology, Gynecology and Urology, Ear, Nose, and Throat (ENT) Surgery, Ophthalmology, and Others is the application segment of the market scope. By end user, the market is divided into Hospital, Clinic, and Others. The report covers value of the global market by application and end user.

Ear, Nose, and Throat (ENT) Surgery has shown significant growth in 2019, owing to the increasing ENT surgical procedures, growing demand for surgical microscopes for ENT microsurgery, and commercialization of technologically advanced surgical microscope for ENT surgical procedures.

North America, Europe, Asia Pacific, South America, and Middle East & Africa are taken into consideration at the global surgical microscope value figures. While North America is further categorized into enhancing the United States, Canada, and Mexico, Europe is split into the United Kingdom, Germany, France, Italy, and Rest of Europe. Asia-Pacific covers India, China, Japan, South Korea, and Rest of Asia Pacific in its scope. South America is bifurcated into Brazil, Argentina, and Rest of South America, with Middle East & Africa involving GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.

North America was dominating the global surgical microscope market in 2019, due to the rising number of surgeries and growing demand for minimally-invasive procedures, technological advancement, commercialization of regulatory approved surgical microscope and the joint venture between companies to develop and market surgical microscope in North American regions.

Major players operating in the surgical microscope industry include Olympus Corporation, Carl Zeiss Meditec AG, Alcon, Inc., Carl Zeiss Meditec AG, Leica Microsystems, Topcon Corporation, Haag-Streit Surgical GmbH, Synaptive Medical, Takagi Seiko Co., Ltd., Chammed Co. Ltd., and Seiler Instrument Inc.

Increasing commercialization of regulatory approved surgical microscope, the partnership between companies to develop and market surgical microscope globally, and technological advancement in surgical microscopes are some of the strategies adopted by the major companies.