Market Size of Global Microsurgical Instruments Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
CAGR | 5.10 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Microsurgical Instruments Market Analysis
The microsurgical instruments market is expected to register a CAGR of 5.1% during the forecast period.
The COVID-19 pandemic had a significant impact on the microsurgical instruments market. Due to regulatory authorities' strict guidance to prevent any non-emergent surgeries, the volume of surgeries has drastically decreased throughout the pandemic. According to the study published in October 2021 by the National Library of Medicine globally, there has been a 42.8% decrease in general surgery admissions. Thus, the reduction in surgical procedures during the COVID-19 pandemic affected the market's growth. However, the postponed surgeries resumed worldwide, driving the market's growth during the post-pandemic period. The number of surgical procedures and chronic diseases, such as cardiovascular diseases, where surgery is mandatory is growing. This is the primary growth factor for the microsurgical instruments market. For instance, as per the research study published in June 2021 by the Journal of Thoracic and Cardiovascular Surgery, a total of 92,809 operations were classified as heart surgery procedures in the classical sense, of which 29,444 were isolated coronary artery bypass grafting procedures, 35,469 were isolated heart valve procedures, and the number of isolated heart transplantations increased by 2% to 340. Hence, the high number of heart procedures and operations being performed is expected to boost the growth of the microsurgical instruments market during the forecast period.
The significant advantage of microsurgery over conventional surgical procedures and an increasing number of surgeries, and the rising incidence of lifestyle and chronic diseases are the major factors why the number of microsurgical procedures is increasing around the world. For instance, according to a research study published by the National Library of Medicine in June 2021, under magnification, the microsurgical method for root coverage was found to be superior to the traditional microsurgical approach, and in addition to enhanced gingival thickness and patient satisfaction ratings, neovascularization at the microsurgical sites healed more quickly. Similarly, a research study published by the National Library of Medicine in May 2022, it was reported that the high-definition 3-dimensional (3D) exoscope (EX) offers the unique benefit of good comfort and appears to be a secure substitute for conventional anterior cervical discectomy and fusion (ACDF). It also benefits the surgical team as a valuable educational tool. Hence, owing to the many advantages of microsurgical procedures over conventional procedures, the adoption of microsurgical procedures is expected to increase, which is expected to increase the demand for microsurgical instruments, and thus, the market is expected to grow over the forecast period.
Furthermore, the increasing number of surgeries worldwide owing to the growing burden of chronic diseases is expected to augment the growth of the microsurgical instruments market during the forecast period. For instance, the data published by the European Heart network in 2021 reported that in the European Union, more than 60 million people live with cardiovascular disease, and close to 13 million new cases of cardiovascular diseases are diagnosed every year. Such increasing prevalence of cardiovascular diseases, which led to an increasing need for surgical procedures and treatment, is expected to drive the growth of the microsurgical instruments market.
Hence, owing to the above-mentioned factors, the microsurgical instruments market is expected to grow over the forecast period. However, the high cost associated with the surgery is expected to restrain the growth of the microsurgery instruments market during the forecast period.
Microsurgical Instruments Industry Segmentation
As per the scope of the report, microsurgery is the practice of minimally-invasive surgeries done with the help of an operating microscope. The instruments used in successfully practicing microsurgery are called microsurgical instruments. Microsurgical instruments are used for several medical specialties, ranging from eye surgeries to arm, orthopedics, and cardiac procedures, as well as in ambulatory centers, hospital settings, and others. The Microsurgical Instruments Market is segmented by Product (Micro Sutures, Micro Forceps, Operating Microscopes, Micro Scissors, Micro Surgery Needle Holder, and Other Instruments), Microsurgery Type (Orthopedic Microsurgery, Ophthalmic Microsurgery, Plastic & Reconstructive Microsurgery, ENT Microsurgery, Neurological Microsurgery, Gynecological & Urological Microsurgery, and Other Microsurgery Type), End User (Hospitals, Ambulatory Surgical Centers and Others) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.
By Product | |
Micro Sutures | |
Micro Forceps | |
Operating Microscope | |
Micro Scissors | |
Micro Surgery Needle Holder | |
Other Instruments |
By Microsurgery Type | |
Orthopedic Microsurgery | |
Ophthalmic Microsurgery | |
Plastic & Reconstructive Microsurgery | |
ENT Microsurgery | |
Neurological Microsurgery | |
Gynecological & Urological Microsurgery | |
Other Microsurgery Type |
By End User | |
Hospitals | |
Ambulatory Surgical Centers | |
Others |
Geography | ||||||||
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Global Microsurgical Instruments Market Size Summary
The microsurgical instruments market is poised for growth, driven by the increasing number of surgical procedures and the rising prevalence of chronic diseases that necessitate surgery. The market experienced a downturn during the COVID-19 pandemic due to restrictions on non-emergent surgeries, but has since rebounded as postponed procedures resumed. The advantages of microsurgery over traditional methods, such as enhanced precision and improved patient outcomes, are contributing to the growing adoption of these techniques worldwide. This trend is further supported by advancements in microsurgical technology, which are enhancing the capabilities and applications of these instruments. The demand for microsurgical instruments is expected to rise as more surgeries are performed, particularly in the fields of cardiovascular and plastic surgery, where the need for precise and minimally invasive procedures is paramount.
Regionally, North America is anticipated to hold a significant share of the microsurgical instruments market, fueled by the increasing prevalence of chronic disorders, a growing geriatric population, and a high demand for plastic and reconstructive surgeries. The region's market is further bolstered by strategic activities such as product launches and collaborations among key players. The market is moderately competitive, with major companies like Olympus Corporation, KLS Martin Group, and ZEISS International leading the charge through innovations and strategic partnerships. Despite the high costs associated with microsurgery, the market is expected to expand, driven by technological advancements and the increasing need for sophisticated surgical solutions.
Global Microsurgical Instruments Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Microsurgery Advantage Over Conventional Surgery
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1.2.2 Increasing Number of Surgeries and Rising Incidence of Lifestyle and Chronic Diseases
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1.3 Market Restraints
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1.3.1 High Price of Advanced Surgery
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1.4 Porter Five Forces
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Product
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2.1.1 Micro Sutures
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2.1.2 Micro Forceps
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2.1.3 Operating Microscope
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2.1.4 Micro Scissors
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2.1.5 Micro Surgery Needle Holder
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2.1.6 Other Instruments
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2.2 By Microsurgery Type
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2.2.1 Orthopedic Microsurgery
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2.2.2 Ophthalmic Microsurgery
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2.2.3 Plastic & Reconstructive Microsurgery
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2.2.4 ENT Microsurgery
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2.2.5 Neurological Microsurgery
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2.2.6 Gynecological & Urological Microsurgery
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2.2.7 Other Microsurgery Type
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2.3 By End User
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2.3.1 Hospitals
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2.3.2 Ambulatory Surgical Centers
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2.3.3 Others
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 South Korea
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2.4.3.6 Rest of Asia-Pacific
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2.4.4 Middle East and Africa
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2.4.4.1 GCC
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2.4.4.2 South Africa
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2.4.4.3 Rest of Middle East and Africa
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2.4.5 South America
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2.4.5.1 Brazil
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2.4.5.2 Argentina
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2.4.5.3 Rest of South America
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Global Microsurgical Instruments Market Size FAQs
What is the current Global Microsurgical Instruments Market size?
The Global Microsurgical Instruments Market is projected to register a CAGR of 5.10% during the forecast period (2024-2029)
Who are the key players in Global Microsurgical Instruments Market?
Olympus Corporation, KLS Martin Group, Global Surgical Corporation, Karl Kaps GmbH & Co. and ZEISS International are the major companies operating in the Global Microsurgical Instruments Market.