According to Grand View Research, a U.S.-based market research and consulting company, the U.S. surgical microscopes market is estimated to be worth USD 385.2 million by 2025.1 The market is segmented on the basis of product, application and end-use.
Factors affecting the market growth are as follows:
- Increasing demand for minimally invasive surgeries
- Increasing innovation in surgical microscopes
- Increasing prevalence of chronic diseases, leading to increasing numbers of surgeries
- High cost of surgical microscopes
Market Innovation Insights
Companies such as Zeiss Medical Technologies, Leica Microsystems, Topcon and Alcon are anticipated to substantially innovate the market. For example, Zeiss’s KINEVO 900 is one of the most advanced surgical microscopes — it is enabled with optical and digital visual modalities, which are likely to increase the precision of neurosurgeries and reduce the number of errors.
These companies are focused on the development of technologically advanced products that have greater accuracy and efficiency. For instance, the M844 and M822 microscopes from Leica Microsystems are designed for ophthalmic microsurgeries. The M844 is particularly valuable for posterior and high-end anterior segment surgery. The M822 is used as a surgical amplifying instrument that facilitates precise cataract surgery via an illumination system that combines LED and halogen for enhanced Red Reflex. These particular companies have had success penetrating the market based on a strategy of affordability and discounted service contracts.
Relevance of Surgical Microscopes
Surgical microscopes are needed in neurosurgical and spinal operations, ENT surgeries, dentistry, oncology, gynecology, urology, ophthalmology and plastic and reconstructive surgeries, among others.
The neurosurgical and spinal surgery and oncology applications of surgical microscopes are estimated to grow at estimated CAGRs of 12.9% and 10.1% respectively, over the forecast period. The rising prevalence of cancer is anticipated to boost the demand for surgical microscopes. According to Cancer Facts and Figures 2016, there were an estimated 1,685,210 new cancer cases diagnosed in the United States in 2016. This increase in the oncology segment is anticipated to fuel demand for surgical microscopes overall. .
U.S. Surgical Microscopes Market Scenario
The United States held a lucrative share of the global surgical microscopes market in 2016, with the highest per capita GDP (USD 46,760) and a per capita health expenditure of USD 7,720. The country also has the most sophisticated healthcare system. Moreover, chronic disorders are more frequent in the United States, compared with the global average, with a cancer incidence per year of 300.2 in 100,000.
Within the United States, New York and Pennsylvania are estimated to have the highest demand for surgical microscopes. This is due to the high prevalence of chronic diseases and the rising presence of ambulatory surgical centers (ASCs). The demand for minimally invasive surgeries is also increasing in these regions, which is anticipated to drive the demand for surgical microscopes.
Product Analysis of Surgical Microscopes
Surgical microscopes are segmented into caster-mounted, wall-mounted, tabletop, and ceiling-mounted microscopes. Caster-mounted microscopes held significant shares in 2016. This segment is anticipated to grow at a lucrative rate of 11.5% over the forecast period. Portability of these devices and better cleaning and maintenance capabilities are key factors for their growth. The demand for caster-mounted microscopes will likely increase over the forecast period owing to new innovation in this segment, which is anticipated to increase the usability of the microscopes, with companies such as Zeiss and Leica Microsystems driving innovation.
The demand for caster-mounted microscopes is anticipated to be highest in New York, followed by Pennsylvania. However, the growth of caster-mounted surgical microscopes is projected to be higher in Texas and Massachusetts. The healthcare infrastructure in Texas is anticipated to experience lucrative growth due to investments from companies such as St. David’s Healthcare. These investments are likely to positively impact the U.S. surgical microscope market.
1. S. Surgical Microscopes Market Size, Share & Trends Analysis Report By Type (On Casters, Ceiling Mounted, Wall Mounted), By Application, By End-use (Hospital, Physician's/Dentists Clinic), And Segment Forecasts, 2018 – 2025. Rep. Grand View Research. Apr. 2018. Web.