New York, May 13, 2020 (GLOBE NEWSWIRE) -- The global surgical microscopes market is expected to reach USD 2.00 Billion by 2027, according to a new report by Reports and Data. Growing demand for surgeries across the globe is expected to drive the market demand for surgical microscopes. Surgery, a basic component of health care systems, is used in treating a wide range of diseases to improve human health. Surgeries are necessary for everyone ranging from infants with congenital abnormalities to the aged with cataracts. Often, it is an element of curative care like cancer, along with the treatment of chronic diseases, including osteoarthritis.
Rise in the geriatric population is one of the significant factors influencing the market growth. It has been estimated that by 2050 approximately 16.0% of the global population will be aged more than 65 years, which expected to increase fivefold since 1950. Forecasts from the World Health Organization (WHO), United Nations (UN), and the EU commission all indicate aging as a significant challenge for society, which demands concentrated efforts to meet the requirements of the elderly.
Several efforts are being made to increase the scope of surgical services including the World Bank's Disease Control Priorities project and the World Health Organization's (WHO) Emergency & Essential Surgical Care program, which encourage the deployment of essential packages of interventions at district hospitals in Low and Middle-Income Countries (LMICs).
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COVID-19 Impact
The prevailing COVID-19 pandemic highlights the significance of an attentive utilization of human and financial resources, which are vital in healthcare. It is important to ascertain the ability of specialized professionals and surgeons to function through the pandemic. A conscious effort is required for minimizing the spread of infection, and a high mortality rate across the globe would be detrimental. All suspected or known COVID-19-positive patients needing surgical intervention must be treated as positive to reduce the infection rate. Surgical microscopes would play a significant role in the identification of lung diseases, which may be owing to COID-19
Further key findings from the report suggest
- By product type, on-casters contributed to the largest market share in 2019 and is estimated to grow at a rate of 9.9% in the forecast period. On-casters surgical microscopes are floor-mounted devices possessing retractable casters with wheels. The caster is meant to offer complete equilibrium, permitting the free movement of the microscope. In clinical settings with distant walls or high ceilings, the on-caster type is preferable.
- By application, ophthalmology held the second-largest market share in 2019 and is expected to grow at a rate of 9.8% in the period 2019-2027. The human eye is a very delicate organ, and therefore performing ophthalmic surgery demands the ability to observe surgical progress on a micro-level. Ophthalmic surgical microscopes are intended to provide high contrast and comprehensive imaging of all areas of the human eye. It can either be adjustable or fixed, and specific models give a secondary observer set of binoculars, few of which can autonomously regulate the focusing mechanism.
- By end-users, hospitals dominated the market in 2019 and are expected to grow at a rate of 10.1% in the forecast period. The factors including well-resourced operating rooms, higher purchasing power, the existence of highly skilled healthcare professionals, and improved health coverage for hospital-based healthcare services from several private and group insurance plans, among others, are responsible for the high market share of hospitals.
- The market in the Asia Pacific region is likely to witness the highest growth rate of 11.5% in the period 2020-2027. The high growth of the APAC region is owing to the increasing demand for the surgical microscopes in emerging economies, such as China and India, owing to a rise in the level of disposable income, increasing target conditions, and rising healthcare standards, among others.
- Key participants include Alcon, Topcon Corporation, Seiler Instrument Inc., Carl Zeiss Meditec AG, Leica Microsystems, ARI Medical Technology Co. Ltd., Takagi Seiko Co. Ltd., Synaptive Medical, Olympus Corporation, and Metall Zug Group, among others.
- In October 2018, Med X Change, Inc. announced the launch and availability of the 4Klear, a 4K Camera and Medical Video Recorder, an All-In-One Solution for surgical microscopes. The availability of two products in one; reduces cost, simplifies use, and offers unparalleled Native 4K image quality.
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For the purpose of this report, Reports and Data have segmented the global surgical microscopes market on the basis of product type, application, end-user, and region:
Product Type Outlook (Revenue, USD Million; 2017-2027)
- Wall Mounted
- On-Casters
- Table Top
- Ceiling Mounted
Application Outlook (Revenue, USD Million; 2017-2027)
- Neurosurgery & Spine Surgery
- Ophthalmology
- ENT Surgery
- Dentistry
- Plastic & Reconstructive Surgery
- Gynecology
- Urology
- Others
End-Users Outlook (Revenue, USD Million; 2017-2027)
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Others
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Regional Outlook (Revenue, USD Million; 2017-2027)
- North America
- U.S
- Europe
- U.K
- France
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- MEA
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