New Castle, Delaware, Sept. 05, 2023 (GLOBE NEWSWIRE) -- Allied Market Research has recently published a report, titled, “Surgical Loupes Market by Product Type (Through The Lens (TTL), Flip Up Loupe, Headband), by Lens Type (Galilean, Prismatic), by Application (Dentistry, Surgical, Others), by Sales Channel (Online, Offline): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global surgical loupes market generated $424.8 million in 2022 and is anticipated to garner $713.7 million by 2032, witnessing a CAGR of 5.6% from 2023 to 2032.
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Prime Determinants of Growth
The growing number of surgical and dental operations among individuals worldwide, the increasing demand for medical loupes for improved visibility, and the increasing need for dental care & cosmetic dentistry are the major factors expected to fortify the growth of the global surgical loupes market in the estimated period. However, the lack of skilled personnel, limited awareness about the use of medical loupes in emerging countries, and the high costs & complex use of advanced medical loupes may hinder the growth of the surgical loupes market in the coming period. On the contrary, the increasing investment in R&D activities to develop high-quality and innovative medical equipment and the rising creation of advanced medical loupes with greater precision, comfort, and flexibility owing to the continuous technological improvements are expected to bring numerous growth opportunities for the surgical loupes market in the 2023-2032 forecast period.
Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $424.8 million |
| Market Size in 2032 | $713.7 million |
| CAGR | 5.6% |
| No. of Pages in Report | 320 |
| Segments covered | Product Type, Lens Type, Application, Sales Channel, and Region |
| Drivers | Rising number of surgical and dental operation Growing need for dental care and cosmetic dentistry |
| Opportunities | Increasing demand for high-quality and innovative medical equipment Increasing development of advanced medical loupes |
| Restraints | Limited awareness and about the use of medical loupes |
Covid-19 Scenario
- The rise of the Covid-19 pandemic has had a significant influence on the growth of the global surgical loupes market. Many hospitals across the globe postponed elective surgery owing to the rising number of Covid-19 cases which has decreased the demand for surgical loupes that are mostly utilized in surgical operations.
- The disruptions in supply chains due to the stringent regulations imposed by governments of many nations caused delays and shortages in the production of different medical equipment, including medical loupes which have affected the growth of the surgical loupes market during the pandemic.
- esides, the surgical loupes market has faced further challenges owing to the unavailability of raw materials and components and the financial difficulties faced by healthcare facilities owing to the rising expenses of Covid-19 management and the lower revenue from elective treatments.
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Product Type: Through The Lens (TTL) Sub-segment to be Highly Dominant During the Forecast Period
The through the lens (TTL) sub-segment accounted for the major share of 42.6% in the surgical loupes market in 2022 and is expected to grow at a CAGR of 6.1% during the forecast period. The dominant growth of the market is mainly because TTL is the widely used surgical loupe in the surgical loupes industry. Besides, TTL is much more effective for operations requiring precision, such as cataract surgery as it provides a magnified image, which is driving the sub-segment's growth.
Lens Type: Galilean Sub-segment to Hold the Highest Market Share by 2032
The galilean sub-segment held the largest market share of 52.4% in 2022 and is predicted to rise ata CAGr of 6.0% by 2032. The strong growth of the sub-segment can be attributed to the wide use of galilean loupes during operations where visibility is limited. Moreover, galilean loupes are lightweight and easy to use and have a straightforward optical design, making them a great choice for oral surgical treatments.
Application: Surgical Sub-segment to be Most Beneficial During the Analysis Period
The surgical sub-segment accounted for the largest market share of 45.2% in the surgical loupes market in 2022 and is predicted to grow at a CAGR of 6.1% over the analysis period. This is mainly due to the increasing use of medical loupes by surgeons of all disciplines to enhance their visual acuity and precision during surgical procedures. Additionally, the rising use of surgical loupes in a variety of surgical applications such as plastic surgery, general surgery, ophthalmology surgery, and many more as they are highly versatile and adaptable, is anticipated to fuel the sub-segment's growth forward.
Sales Channel: Offline Sub-segment to Flourish Immensely by 2032
The offline sub-segment held a major market share of 67.5% in 2022 and is expected to rise at 5.9% CAGR during the forecast period. This is majorly due to the increasing investments made by the market players in offline sales channels for surgical loupes. Moreover, the rising number of retail shops in developing nations selling a variety of branded medical loupes is predicted to bolster the growth of the market sub-segment.
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Region: North America Market to Hold Majority of Market Share by 2032
The North America region of the surgical loupes market accounted for the highest market share of 35.2% in 2022 and is projected to continue its dominance over the forecast timeframe. This is mainly because the North America region has a well-developed healthcare system and is one of the leading markets for surgical loupes. Moreover, manufacturers across the region are continuously investing in R&D to develop innovative surgical loupe solutions with integrated lighting systems, ergonomic designs, and integrated lighting systems which is expected to boost the regional market growth in the coming period.
Leading Players in the Surgical Loupes Market:
- Carl Zeiss Meditec AG
- L.A. Lens
- Alcon
- ErgonoptiX
- Rose Micro Solutions LLC
- Enova Illumination
- SurgiTel
- Designs for Vision, Inc.
- R&D Surgical Ltd. (Xenosys).
- SHEER Vision
The report provides a detailed analysis of the key players of the global surgical loupes market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain their dominance in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of surgical loupes market players to showcase the competitive scenario.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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