Surgical Microscopes Market Growth & Trends
The global surgical microscopes market size is expected to reach USD 2.9 billion by 2030, growing at a CAGR of 11.35% from 2023 to 2030, based on a new report by Grand View Research, Inc. With the advent of surgical microscopes, it became easier for surgeons to perform such procedures more accurately in less time. In addition, the introduction of technologically advanced products is driving the demand for surgical microscopes as they are more precise, offer better illumination sources, and provide options for customization and technology integration based on the complexity of the procedures.
Emerging technologies such as wide-angle illumination, Red Reflex illumination, automation and augmented reality microscopy are expected to boost the market growth. International players like Carl Zeiss Meditec AG and Leica Microsystems are contributing to the market by providing highly advanced, automated, and robotic surgical microscopes for more precision.
In response to the COVID-19 pandemic, hospitals decided to suspend all the elective and non-urgent surgeries, which has negatively impacted the market. However, with the ease of restrictions, treatments are resuming in many countries, including developing nations. Also, many companies, such as Alcon and Carl Zeiss, have resumed their business operations with the given government guidelines to deliver their orders.
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Report Attribute Details Market size value in 2023 — USD 1.4 billion Revenue forecast in 2030 — USD 2.9 billion Growth Rate — CAGR of 11.35% from 2023 to 2030 Base year for estimation — 2022 Historical data — 2017–2021 Forecast period — 2023–2030
Surgical Microscopes Market Report Highlights
On casters was the largest type segment in 2022 due to the high portability & flexibility and low maintenance requirements of these tools. Moreover, the segment is expected to register the fastest growth over the forecast period due to the high use of casters microscope in various surgical fields
The ophthalmology application segment accounted for the maximum revenue share in 2022. However, the ENT surgery segment is expected to register the fastest CAGR from 2023 to 2030. According to data published by The Children’s Hospital of Philadelphia, tympanostomy tube insertion surgery, also known as ear tube surgery, is the most commonly performed surgery in children in the U.S. More than 4,000 ear tube surgeries are performed each year at the hospital. Thus, an increasing number of ENT procedures is likely to favor segment growth
Carl Zeiss Meditec AG and Leica Microsystems (Danaher Corporation) are the major players in the surgical microscopes market. Launch of new products, acquisitions, and geographic expansion are some of the strategies being adopted by key players in the market. In February 2019, Danaher Corporation acquired the Biopharma business of GE Healthcare, which also includes microscopy products the company
Manufacturers such as Alcon, Nikon, and Carl Zeiss reported the decreases in the revenue in the second quarter of the year 2020 due to the impact of the COVID-19 pandemic which affected the supply chain of most of the companies. Currently, most of the companies have resumed their business and are delivering orders within the given guidelines pertaining to the COVID-19 pandemic
Question: What was the initial value of the surgical microscopes market?
Answer: Initially, the surgical microscopes market held a value of approximately USD 1.2 billion in 2022. This value is projected to rise to about USD 1.4 billion in 2023.
Question: How is the surgical microscopes market expected to evolve?
Answer: The surgical microscopes market is poised for evolution with a compounded annual growth rate of 10.87% from 2023 to 2030. This trajectory is anticipated to lead to a market value of USD 2.9 billion by 2030.
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