Surgical Microscope Market Size, COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI453
Surgical Microscope Market size is set to gain significant traction, which is attributable to the rising number of surgical procedures, alongside the high incidences of adverse health conditions such as chronic disease among the increasing elderly population base worldwide. According to studies, in India, approximately 3646 surgeries would need to be conducted annually to meet the surgical requirements of the nation’s population, as compared to the worldwide estimates of 5000 surgeries for every 100,000 people.
A surgical microscope is an optical microscope designed specifically for use in a surgical setting and is highly requisite for microsurgery. Over the past years, the product has been refined to a precision instrument with appealing features such as high-precision optics and coaxial illumination, providing surgeons with adjustable magnifications, unobstructed view, and proper working distance from the operating field.
Increasing rate of spine fusion and minimally invasive spine surgeries (MISS) are among the key trends characterizing the market growth. Spinal fusion surgery has been evolved into an established treatment of patients with spinal disorders like trauma, deformity, and degenerative conditions. On the other hand, minimally invasive techniques have been adopted as a useful treatment against adult spine deformity, owing to its ability to reduce complications and provide adequate sagittal alignment improvements and correction in patients, thus propelling the surgical microscope uses.
On the basis of application, the oncology segment is projected to hold a considerable share by 2027, due to the rapid technological advancements and the introduction of innovative surgical microscope systems to extensively cater to the needs of cancer patients. For example, researchers at the Dallas-based University of Texas have developed a hyperspectral surgical microscope to allow real-time identification of cancer cells during surgeries.
In terms of segmentation by region, the North America market will register commendable revenue during the forecast timeline, which can be credited to the robust focus on healthcare infrastructure and the accelerating development of surgical centers in countries including the U.S. Reports suggest that over 109 new surgery centers across the region were either opened or broke ground in 2020.
The competitive landscape of the market consists of companies such as Takagi Seiko, FEI, Carl Zeiss, Arri (Stahl Beteiligungs-GmbH), Accu-Scope, Haag Streit Surgical, Alcon Laboratories, Alltion, and Leica Microsystems (Danaher Corporation), among others. Strategic M&A, product launches, and technological innovation are among the key initiatives being undertaken by these firms to maintain a strong position across the global market.
Impact of Delay in Surgery Amid COVID-19 on surgical microscope market trends:
The novel coronavirus pandemic has resulted in widespread health, economic, and social disruptions. While adhering to the infection control measures, the delivery of cardiovascular care services has been extensively stifled. Furthermore, the onset of this disease has caused some patients in various regions like the U.S. to delay their surgeries. This is attributed to the fact that multiple hospital systems have postponed the nonemergent procedures, hampering the expansion of the market.
However, there has been a significant increase in healthcare spending by organizations and governments across the globe to lower the uncertainty caused by the pandemic. Escalating healthcare expenditure, coupled with the gradual ease of COVID-19 restrictions, is thus likely to push the deployment of key medical equipment.
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