Surgical Microscopes Market: Preference for Minimally-invasive Surgeries to Catalyze Growth

The negative impact of high per-unit price and lack of availability of skilled professionals doesn’t seem to affect the growth of the surgical microscopes market much, as it traces vertical distance with an impressive compound annual growth rate of ~10 percent during 2019-2027. The key success factor projected to catapult the growth of the surgical microscopes market is the alarming prevalence of cancer and similar severe chronic diseases that require surgical microscopes to optimize the throughput time for patients and improve diagnostic efficiency.

As per a detailed study published by Transparency Market Research (TMR), the geriatric population will remain the key demography in this landscape, and to cause minimum trauma to these patients during surgery, surgeons are showing high reliance on minimally-invasive procedures. To underpin a clear visualization of the surgical site, these microscopes are found to perform better than conventional magnifier accessories, which has been adding sheen to the popularity of surgical microscopes, especially for oncological surgeries.

surgical microscopes market infographic

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Surge of Surgical Microscopes Market to Remain Fostered by Technological Advancements

The study finds that, market players have a huge appetite for innovation, with stability, portability, and visibility being the focal points. Besides the MVPs of surgical microscopes, efforts are being expended to offer value-added products with features such as augmented microscopy, red reflex stability, and a wide-angle view.

A key market player, Coburn Technologies, introduced the HOM-700 that possesses 3D observation and a halogen-illumination system, to offer a better resolution to surgeons. Another player - Haag-Streit Surgical GmbH - announced the launch of Allegra, which has been developed using the red reflex technique, to provide stereoscopic observation during a surgical procedure.

Also, a novel trend of custom-development of microscopy solutions is being well-received by surgeons, which stresses on catering to their specific requirements. An introduction of fluorescence image guided surgery, also known as FIGS, which uses non-toxic contrast agents, has been enabling surgeons to precisely differentiate cancerous and non-cancerous tissues. With ease to conduct surgeries being central, revenue influx will remain powered by hospitals, ambulatory surgical centers (ASCs), and specialty clinics, during the forecast period.

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High Investments from Hospitals & Ambulatory Surgical Clinics

According to the TMR study, in 2019, hospitals and ambulatory surgical clinics (ASCs) are projected to account for ~78 percent of the total investments made in the surgical microscopes market. A high number of individuals opting for surgeries over drugs to eliminate the disease from the very cause is likely to turn more patients toward hospitals and ASCs. Also, supportive government initiatives to improve healthcare quality, coupled with favorable reimbursement options, are high impact drivers leading to the adoption of surgical microscopes in these healthcare centers.

Being home to sophisticated healthcare facilities and high use of technology to offer surgical convenience to surgeons, North America is the key surgical microscopes market. The high popularity of surgical microscopes in the region can also be attributable to the concentration of market majors who constantly strive to innovate with new product launches. However, the exponential growth of the surgical microscopes market is witnessed in Asia Pacific, on account of the high returns potential of the region, which attracts investments from leading players operating in developed countries for business expansion.

surgical microscopes market segmentation

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Surgical Microscopes Market: Analysts’ Opinion on Growth

Authors of the TMR study foresee propitious growth of the surgical microscopes market, while they also alarm market players regarding the heavy custom duties levied on surgical microscopes, which passes down to the product cost. To market the 'value comes at a price' ideology, market players tend to focus on developing technology-intensive solutions to empower surgeons in conducting surgeries effectively. Diversification of product portfolios with on-caster surgical microscopes can be a strategic step toward consolidation, since these products offer better portability and maintenance capability. Besides this, partnerships with clinics and hospitals will ensure steady sales in the long term.

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Surgical Microscopes Market: Overview

  • According to Transparency Market Research’s latest market report on the surgical microscopes market for the historical period of 2017-2018 and forecast period of 2019-2027, increase in the burden of chronic diseases, and growing demand for sophisticated easy-to-maneuver and accurate surgical intervention systems are propelling the adoption of surgical microscopes.
  • According to the report, the global surgical microscopes market was valued at ~US$ 515 Mn in 2018, and is projected to expand at an impressive CAGR of ~10% from 2019 to 2027.

Increase in Prevalence of Chronic Disorders and Rise in Geriatric Population: A Key Driver

  • Chronic diseases are long-lasting conditions that usually can be controlled but not cured. According to the National Health Council, in the U.S., by 2020, the number of individuals with chronic diseases is projected to grow to an estimated 157 million, with 81 million suffering from multiple conditions.
  • Rise in the geriatric population is another key driver of the global surgical microscopes market, as it constitutes the major share of the patient population suffering from chronic diseases. According to the National Council on Aging, approximately 80% of the elderly population has at least one chronic disease, and 77% has at least two. Four chronic diseases—heart disease, cancer, stroke, and diabetes, lead to almost two-thirds of all deaths each year.
  • According a study published by NCBI (National Center for Biotechnology Information), titled 'Prevalence and correlates of chronic diseases in an elderly population: A community-based survey in Haikou', with an increase in the geriatric population and rise in life expectancy, the leading cause of death may change from infections to chronic non-communicable diseases. It has been reported that, major chronic illnesses that burden the elderly population in high-income countries are hypertension, high cholesterol, arthritis, diabetes, heart disease, cancer, and dementia.
  • Increase in the prevalence of chronic disorders, along with a rise in the geriatric population, is likely to propel the global surgical microscopes market during the forecast period.

Surgical Microscopes Market: New Product Development & Technological Advancements

  • Key market players are engaged in the development of technologically-advanced surgical microscopes.
  • Rise in the demand for surgical microscopes due to a surge in advancements in technology and their requirement in various fields of surgeries, such as oncology, neurosurgery, ENT, etc., are anticipated to drive the global surgical microscopes market.
  • In November 2018, Leica Microsystems further enhanced the 3D visualization capabilities of its ARveo digitally-augmented reality microscope. Surgeons can now choose to operate 'heads-up' looking straight ahead at a large 4K 3D screen. 
  • In December 2017, ZEISS announced the introduction of the VERACITY Surgical to the U.S. market.  VERACITY Surgical is a powerful, intuitive cloud-based platform for cataract surgery planning, logistics, treatment, risk management, and analysis. The VERACITY cataract surgery platform is the first application introduced by the Medical Technology business group of ZEISS since the company’s acquisition of Veracity Innovations LLC.
  • In April 2015, HAAG-STREIT GROUP announced that its intraoperative-OCT camera received 510(k) clearance from the U.S. Food and Drug Administration (FDA) The intraoperative optical coherence tomography (iOCT) is already being successfully used for cataract operations, lamellar keratoplasty, membrane peelings, and for the treatment of retinal disorders. 

High Cost of Surgical Microscopes Hamper Global Surgical Microscopes Market

  • Surgical microscopes are expensive, delicate instruments that require extreme care and precaution in handling and cleaning. All lenses and cords must be carefully inspected before and after every use.
  • According to a study titled 'An Overview on Periodontal Microsurgery', the operating microscope offers flexibility and comfort, superior to magnifying loupes. However, it is much more expensive and difficult to use, at least initially.

Global Surgical Microscopes Market: Competition Landscape

  • This report profiles the major players in the global surgical microscopes market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments.

Prominent players operating in the global surgical microscopes market include

  • Carl Zeiss Meditec AG
  • Leica Microsystems (Subsidiary of Danaher)
  • HAAG-STREIT GROUP (Metall Zug Group)
  • TOPCON CORPORATION
  • Alcon
  • Takagi Ophthalmic Instruments Europe Ltd.
  • Ecleris
  • Optomic
  • Seiler Instrument Inc.
  • ‚ÄčATMOS MedizinTechnik GmbH & Co. KG.

Global Surgical Microscopes Market: Key Developments

Key players operating in the global surgical microscopes market are engaged in the development of new products, key mergers & acquisitions, collaborations, and integration. Major developments by industry players are likely to fuel the expansion of the global surgical microscopes market. Some of the growth strategies adopted by the players in the surgical microscopes market are as follows:

  • In October 2018, Leica Microsystems and Polytech Domilens, a full-service ophthalmic provider, intensified its sales partnership in Germany for Leica surgical microscopes.
  • In October 2018, Carl Zeiss Meditec announced that it had entered into an agreement to acquire IanTECH. Headquartered in Reno, Nevada, the U.S., IanTECH is a privately-held company providing technology solutions for micro-interventional cataract surgeries.
  • In October 2017, HAAG-STREIT GROUP and Reliance Medical Products announced a new national authorized distributor partnership with Walman Instruments, beginning January 1 2017. The expansion of the working relationship grants customers additional access to Haag-Streit and Reliance's ophthalmic equipment throughout all 50 U.S. states.

The report on the global surgical microscopes market discusses the individual strategies, followed by the company profiles of manufacturers of surgical microscopes. The ‘Competition Landscape’ section is included in the surgical microscopes report to provide readers with a dashboard view and a company market share analysis of key players operating in the global surgical microscopes market.

Surgical Microscopes Market – Scope of the Report

TMR’s report on the surgical microscopes market studies the past as well as current growth trends and opportunities to gain valuable insights of the same indicators for the said market during the forecast period of 2019 to 2027. The report provides the overall market revenue of the surgical microscopes market for the period of 2017–2027, with 2018 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the surgical microscopes market for the forecast period.

The report is prepared after extensive research. Primary research involves bulk of the research efforts wherein, analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involves referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global surgical microscopes market.

Secondary research also includes Internet sources, statistical data from government agencies, websites, and trade associations. Analysts employed a combination of the top-down and bottom-up approach to study various phenomena in the global surgical microscopes market.

The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments and sub-segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global surgical microscopes market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global surgical microscopes market.

The report delves into the competition landscape of the global surgical microscopes market. Key players operating in the global surgical microscopes market are identified, and each one of them is profiled for their distinguishing business attributes. Company overviews, financial standings, recent developments, and SWOTs are some of the attributes of players in the global surgical microscopes market that have been profiled in this report.

Key Questions Answered in the Surgical Microscopes Market Report

  • What is the scope of growth of surgical microscope companies in the surgical treatment sector?
  • What will be the Y-o-Y growth of the surgical microscopes market between 2019 and 2027?
  • What is the influence of the changing trends in technologies on the global surgical microscopes market?
  • Will North America continue to remain the most profitable regional market for surgical microscope providers?
  • Which factors will impede the growth of the global surgical microscopes market during the forecast period?
  • Which are the leading companies in the global surgical microscopes market?

Research Methodology

A unique research methodology has been utilized by TMR to conduct comprehensive research on the growth of the global surgical microscopes market, and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.

Secondary sources referred to by analysts during the production of the global surgical microscopes market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the surgical microscopes market as primary sources.

These primary and secondary sources have provided exclusive information during interviews, which serves as a validation from surgical microscopes market leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global surgical microscopes market with accuracy. The study also uses the top-down approach to assess the numbers for each segment, and the bottom-up approach to counter-validate them. This has helped in reaching TMR’s estimates on the future prospects of the global surgical microscopes market more reliably and accurately.

Global Surgical Microscopes Market – Segmentation 

Product

  • On Casters
  • Wall & Ceiling Mounted

Application

  • ENT Surgeries
  • Dentistry
  • Oncology
  • Neurosurgery
  • Ophthalmology
  • Plastic & Reconstructive Surgeries
  • Other Surgeries

End User

  • Hospitals & Ambulatory Surgical Centers
  • Specialty Clinics

Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa