Surgical Microscopes Market Size
Study Period | 2019 - 2029 |
Market Size (2024) | USD 1.5 Billion |
Market Size (2029) | USD 2.62 Billion |
CAGR (2024 - 2029) | 11.72 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Surgical Microscopes Market Analysis
The Surgical Microscopes Market size is estimated at USD 1.5 billion in 2024, and is expected to reach USD 2.62 billion by 2029, growing at a CAGR of 11.72% during the forecast period (2024-2029).
The market is driven by the increasing adoption of minimally invasive surgeries, a growing geriatric population and burden of chronic diseases, and technological advancements in surgical microscopes. As people age, they are more likely to experience age-related health conditions that require surgery. This includes procedures like cataract surgery, joint replacements, and neurosurgery, all benefitting from the magnified view and precision of surgical microscopes. For instance, according to the World Health Organization, in August 2023, at least 2.2 billion people worldwide had near or distant vision impairment. While vision loss impacts all ages, the majority of those with vision impairment or blindness are over the age of 50.
Additionally, as people age, they become more susceptible to various chronic diseases like cancer, cardiovascular disease, and ophthalmic conditions like cataracts. The conditions often require surgical intervention, and surgical microscopes are crucial in enabling minimally invasive and precise procedures, leading to better patient outcomes and faster recovery times. For instance, as per the data published by the Population Reference Bureau in January 2024, the population of Americans aged 65 and over is expected to surge from 58 million in 2022 to 82 million by 2050, representing a significant increase of 47%. Therefore, the rising geriatric population globally will increase the need for surgical microscopes, increasing the market expansion during the forecast period.
Surgical microscopes provide magnified and high-resolution views of the surgical field, which is crucial for MIS procedures. These procedures often involve working through small incisions and require extreme precision to avoid damaging surrounding tissues. For instance, according to the study published by the Pediatric Surgery International Journal in March 2022, minimally invasive surgery (MIS) is frequently the preferred procedure for most abdominal and pelvic surgeries due to benefits like decreased morbidity and quicker recovery times. Similarly, according to an article published by the Journal of the American Academy of Orthopedic Surgeons in February 2023, there is a rapidly growing interest in minimally invasive surgery (MIS) of the foot and ankle. Such a rise in the adoption of MIS is expected to lead to increased usage of surgical microscopes, which is expected to boost the market’s growth during the forecast period.
Also, the advancements in surgical microscopes improve the precision of these devices, which is expected to have high demand in operating theaters and is anticipated to propel the market’s growth. For instance, as per the report published by Corder in September 2023, integrating cutting-edge technology into neurosurgical microscopes sets them apart from traditional surgical microscopes. This advanced surgical instrument combines superior optics, lighting, and ergonomic design to provide surgeons with an excellent visual experience.
Hence, the factors mentioned above, such as the increasing adoption of minimally invasive surgeries and the key advancements in surgical microscopes, are expected to boost the market's growth. However, factors such as a lack of skilled professionals and low acceptance due to high costs are likely to hamper this growth during the forecast period.
Surgical Microscopes Market Trends
The Ophthalmology Segment is Expected to Hold a Largest Share in the Market During the Forecast Period
Surgical microscopes are crucial in ophthalmology for various procedures like cataract surgery, retinal surgery, corneal transplants, glaucoma surgery, and vitrectomy. The growing incidence of ophthalmologic disorders requiring minimally invasive procedures and increasing research funding for eye and vision-related diseases is expected to increase the availability of advanced microscopes for ophthalmology surgeries, boosting the segment’s growth.
The growing incidence of eye disorders and ophthalmic surgeries is expected to boost the segment's growth. For instance, as per the Royal Australian and New Zealand College of Ophthalmologists (RANZCO) Pre-Budget Submission 2022-2023, the estimated prevalence of glaucoma in Australians over 50 years is approximately 2.2%. As per the same source, the prevalence of glaucoma in Australia is projected to increase to 379,000 patients by 2025.
For instance, a meta-analysis of international databases and A 2022 systematic review in 2023 found that one-third of people already who have diabetes have diabetic retinopathy. People over the age of 60 have a higher risk than younger people. These instances show the increasing burden of ophthalmology diseases and raise the need for surgeries, which is likely to propel the market growth in the segment during the forecast period.
In addition, the growing number of collaborations among the major players and advances in surgical microscopes in the segment are expected to boost the segment's growth. For instance, in August 2022, Heidelberg Engineering unveiled its first ophthalmic solution in digital surgical microscopy in collaboration with Bausch+Lomb. Therefore, the growing eye disorders and market player strategies increase the demand for surgical microscopes, which is expected to boost the market growth during the forecast period.
North America is Expected to Hold a Significant Market Share During the Forecast Period
The market's growth in the region is vastly attributed to the availability of highly advanced equipment, the presence of sophisticated facilities, skilled neurosurgeons and cosmetic surgeons, the increasing number of surgical facilities, the preference for outpatient settings, and the supportive reimbursement framework for medical treatments. Factors such as the rising prevalence of various chronic diseases increase the need for surgeries using surgical microscopes and are expected to drive the market in the region.
The rising prevalence of cancer in the United States is projected to drive the demand for surgical microscopes to perform precise cancer surgeries in hospitals. For instance, according to the data published by the American Cancer Society (ACS), in January 2023, about 1,958,310 new cancer cases were projected to occur in the United States by the end of 2023, compared to 1,918,030 cases in 2022. Additionally, data published by the Canadian Centre for Applied Research in Cancer Control in November 2023 showed around 239,100 cancer diagnoses in 2022.
Thus, the expected increase in cancer cases is anticipated to increase the adoption of surgical microscopes during the forecast period.
The active participation of prominent players in the launch of various advanced surgical microscopes in the region is projected to drive market growth during the forecast period. For instance, in March 2023, Sight Sciences Inc. launched the Ergo-Series of the OMNI Surgical System, integrated with a surgical microscope to facilitate surgeons’ ability to perform minimally invasive, implant-free glaucoma procedures in adults with primary open-angle glaucoma. Thus, factors such as the rising prevalence of various chronic diseases and product launches increase the usage of surgical microscopes, which is expected to boost the market's growth in the region.
Surgical Microscopes Industry Overview
The surgical microscopes market is competitive and fragmented, with several major players distributed globally. Due to the technological advancements in the surgical microscope by the market players, the market is expected to grow globally. Some of the key players in the market include Alcon Inc., Alltion (Wuzhou) Co. Ltd, Metall Zug (Haag-Streit), Danaher Corporation, Olympus Corporation, Topcon Corporation, and Carl Zeiss AG.
Surgical Microscopes Market Leaders
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Metall Zug Group (Haag-Streit)
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Carl Zeiss AG
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Topcon Corporation
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Danaher Corporation (Leica Microsystems)
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Alcon Inc.
*Disclaimer: Major Players sorted in no particular order
Surgical Microscopes Market News
- March 2023: The Joseph N France General Hospital acquired a Leica M690 Surgical Operating Microscope System. This cutting-edge technology is set to revolutionize the surgical procedures performed at the hospital, leading to improved patient care and outcomes.
- January 2023: Leica Microsystems, one of the key players in microscope and image analysis solutions, entered a distribution agreement with DB Surgical Inc. that includes the expansion territories of North Carolina and South Carolina.
Surgical Microscopes Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Adoption of Minimally Invasive Surgeries
4.2.2 Rising Geriatric Population and Burden of Chronic Diseases
4.2.3 Technological Advancements in Surgical Microscopes
4.3 Market Restraints
4.3.1 Lack of Skilled Professionals
4.3.2 Low Acceptance Owing to High Costs
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
5.1 By Application
5.1.1 Dentistry
5.1.2 Gynecology and Urology
5.1.3 Ear, Nose, and Throat (ENT)
5.1.4 Neurosurgery and Spine Surgery
5.1.5 Ophthalmology
5.1.6 Plastic and Reconstructive Surgery
5.1.7 Other Applications
5.2 By End User
5.2.1 Hospitals
5.2.2 Ambulatory Surgical Centers
5.2.3 Other End Users
5.3 By Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Alcon Inc.
6.1.2 Alltion (Wuzhou) Co. Ltd
6.1.3 ARI Medical Technology Co. Ltd
6.1.4 ATMOS MedizinTechnik GmbH & Co. KG
6.1.5 Avante Health Solutions
6.1.6 Carl Zeiss AG
6.1.7 Labomed Inc.
6.1.8 Danaher Corporation (Leica Microsystems)
6.1.9 Metall Zug Group (Haag-Streit)
6.1.10 Olympus Corporation
6.1.11 Optofine Instruments Pvt. Ltd
6.1.12 Seiler Instrument Inc.
6.1.13 Synaptive Medical
6.1.14 Takagi Seiko Co. Ltd
6.1.15 Topcon Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Surgical Microscopes Industry Segmentation
As per the scope of the report, a surgical microscope is used to obtain good visualization of fine structures in the operating field. Surgical microscopes offer surgeons strain-free surgical procedures. The surgical microscopes market is segmented by application, end user, and geography. By application, the market is segmented into dentistry, gynecology and urology, ENT, neurosurgery and spine surgery, ophthalmology, plastic and reconstructive surgery, and other applications. By end user, the market is segmented into hospitals, ambulatory surgical centers, and other end users. The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD) for the above segments.
By Application | |
Dentistry | |
Gynecology and Urology | |
Ear, Nose, and Throat (ENT) | |
Neurosurgery and Spine Surgery | |
Ophthalmology | |
Plastic and Reconstructive Surgery | |
Other Applications |
By End User | |
Hospitals | |
Ambulatory Surgical Centers | |
Other End Users |
By Geography | ||||||||
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Surgical Microscopes Market Research FAQs
How big is the Surgical Microscopes Market?
The Surgical Microscopes Market size is expected to reach USD 1.5 billion in 2024 and grow at a CAGR of 11.72% to reach USD 2.62 billion by 2029.
What is the current Surgical Microscopes Market size?
In 2024, the Surgical Microscopes Market size is expected to reach USD 1.5 billion.
Who are the key players in Surgical Microscopes Market?
Metall Zug Group (Haag-Streit), Carl Zeiss AG, Topcon Corporation, Danaher Corporation (Leica Microsystems) and Alcon Inc. are the major companies operating in the Surgical Microscopes Market.
Which is the fastest growing region in Surgical Microscopes Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Surgical Microscopes Market?
In 2024, the North America accounts for the largest market share in Surgical Microscopes Market.
What years does this Surgical Microscopes Market cover, and what was the market size in 2023?
In 2023, the Surgical Microscopes Market size was estimated at USD 1.32 billion. The report covers the Surgical Microscopes Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Surgical Microscopes Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Surgical Microscope Industry Report
The report on the Global Surgical Microscope Market provides a comprehensive industry analysis, covering various applications such as dentistry, gynecology and urology, ENT, neurosurgery and spine surgery, oncology, ophthalmology, plastic and reconstructive surgery, and other applications. The market segmentation also includes end-users like hospitals, dental clinics, and other end-users across regions like North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The industry research indicates significant growth trends, with a detailed market forecast and market outlook provided in terms of value.
The market size and market share are meticulously analyzed, offering insights into the market leaders and their contributions to the industry. The report highlights the market growth and market trends, presenting a clear market overview and market review. The industry reports and industry statistics are essential for understanding the market dynamics and market predictions. The industry information and industry outlook are crucial for stakeholders to make informed decisions.
This report serves as a valuable resource for research companies, providing detailed market data and market segmentation. The industry sales and industry size are discussed, along with market value and market data. The report example and report pdf offer a practical guide for further research and analysis. The market forecast and market growth are essential for anticipating future developments in the surgical microscope market.
Overall, this industry report is a comprehensive guide to the global surgical microscope market, offering valuable insights through industry analysis, market trends, and market predictions. The industry statistics and industry trends provide a clear picture of the market's current state and future potential. The market outlook and market review are crucial for understanding the industry's trajectory, making this report an indispensable tool for market research and strategic planning.