The increasing use of fluorescence image-guided surgery (FIGS), increase in the number of surgeries and growing demand for MIS, advancements in healthcare facilities, technological advancements, and customized microscopy solutions are the key factors driving the growth of the global surgical microscopes market.
According to research report surgical microscopes market is poised to reach USD 915.6 Million by 2021 from USD 508.1 Million in 2016, at a CAGR of 12.5% from 2016 to 2021.
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On the basis of application, the operating microscopes market is segmented into neuro and spine surgery, plastic and reconstructive surgery, ophthalmology, gynecology and urology, oncology, dentistry, ENT surgery, and documentation. In 2016, the neuro and spine surgery segment is expected to account for the largest share of the market due to the increasing demand for surgical/operating microscopes in neurosurgery. However, the oncology segment is expected to grow at the highest CAGR during the forecast period. This can be attributed to the increasing prevalence of cancer around the world.
On the basis end users, the operating microscopes market is classified into hospitals, and out-patient facilities. Hospitals are the major end users for the surgical microscopes end users market, owing to increase in minimally invasive surgery (MIS) procedures, and need for high speed diagnostics.
North America and Europe are established markets for surgical microscopes, due to broad technical applications of surgical microscopes and improved healthcare facilities in the region. However, Asia-Pacific is expected to show high growth rate in next few years in global operating microscopes market. This is due to presence of immense potential associated with healthcare services and increased investment in R&D. Increasing healthcare awareness is also fuelling the growth of surgical microscopes market in emerging countries.
China, India, Brazil, and the Middle East are the emerging markets for surgical microscopes; these markets are currently in the nascent stage. These markets lack proper standards and government regulations and offer a huge potential for providers unable to meet U.S. standards.
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The surgical microscopes market is highly competitive in nature. Some of the major players in this market include Novartis AG (Switzerland), Danaher Corporation (U.S.), Topcon Corporation (Japan), and Carl Zeiss AG (Germany). The strong position of these companies in the market can primarily be attributed to their global presence and broad product portfolio. Other major players in the market include KARL KAPS GMBH & Co. KG (Germany), Alltion (Wuzhou) Co. Ltd. (China), and ARRI Medical (ARRI Group) (Germany).