Surgical Microscopes Market Size, Share & Trends Analysis Report By Type (On Casters, Wall Mounted, Tabletop), By Application (Ophthalmology, ENT Surgery), By End-use, By Region, And Segment Forecasts, 2021 - 2028

Report Overview

The global surgical microscopes market size was valued at USD 1.0 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 11.1% from 2021 to 2028. An increasing number of surgical procedures, demand for more precision, and emerging technologies, such as wide-angle illumination, red reflex illumination, and Augmented Reality (AR) microscopy are expected to boost the market growth. Surgical microscopes have become an essential tool for minimally invasive procedures in several fields, including neurosurgery, ophthalmic surgery, dental surgery, otorhinolaryngology, and cosmetic surgery. Technological advancements in the product have significantly improved vision, stability, and sizing, positioning, and recording capabilities as well as helped in the integration of image-guided microscope systems for better outcomes.

They offer 3D visualization, optimum lighting, and magnification of deep surgical fields through small approaches. Apart from clinical benefits, surgeons physically benefit from these microscopes as they allow them to adjust their posture while performing long and complicated procedures. These advantages, coupled with the rapid adoption of microsurgery, are fueling the market growth.

During the COVID-19 pandemic, a downfall in surgical procedures has been recorded in all the countries, as the respective government has recommended the hospitals and surgery centers postpone or cancel the elective procedures. With that descend in surgical procedures worldwide, the growing demand for surgical microscopes has witnessed a downfall for time being.

COVID-19 Surgical Microscopes Market Impact: 7.9% decline in demand

According to the statement released by Carl Zeiss in March 2020, the company has discontinued all the internal and external events and is operational via video conferences. But it assured all its customers that there will be no delay in the deliveries of the orders as the company has developed comprehensive measures to protect all of its employees and maintain smart business continuity. 

Type Insights

The on-casters segment dominated the market with a share of more than 79% in 2020. The segment is projected to expand further at the fastest CAGR from 2021 to 2028. On the basis of type, the market has been segmented into casters, wall-mounted, tabletop, and ceiling mounted. On-casters microscopes are floor-mounted devices that have retractable casters with single, double, or compound wheels.

It is specifically designed to provide absolute equilibrium, allowing free movement of the balanced microscope. Advantages such as effective maneuvering and repositioning functionality, requiring minimum efforts, offered by on-casters microscopes help in reducing the duration of the operation. This is driving the demand for these devices, thereby supporting the segment growth. On the other hand, a high preference for wall-mounted microscopes in operating rooms with limited space is propelling their demand.

Application Insights

The ophthalmology segment held the largest revenue share of over 37% in 2020 and will expand at a steady growth rate over the forecast period. The ENT surgery segment is expected to register the fastest CAGR from 2021 to 2028. 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. The dentistry and plastic & reconstructive surgeries segments are also expected to register significant CAGRs from 2021 to 2028 on account of the rising demand for cosmetic dentistry and an increase in the volume of reconstructive surgeries.

The neurosurgery application is also estimated to witness steady growth over the coming year due to the rising adoption of advanced techniques that involve the use of surgical microscopes. The high product adoption is attributed to the rising prevalence of brain disorders and the growing complexities of their treatments. Other key application segments include spine surgery, gynecology, urology, and other services.

End-use Insights

In terms of end use, the surgical microscope market has been bifurcated into sub-segments namely, hospital and physician clinics & other settings. The hospital segment dominated the global market with a revenue share of more than 59% in 2020. The segment is expected to continue the trend and lead the market throughout the forecast period.

A prominent share of this segment can be attributed to the higher number of patient admissions and surgeries performed in hospitals and greater financing capabilities. The physician/dentist clinics and other settings segment are expected to register the fastest CAGR of more than 12% from 2021 to 2028. The availability of smaller operational microscopes and the rapidly growing field of dentistry are among the factors contributing to the growth of this segment.

Regional Insights

North America dominated the global market in 2020 with a revenue share of more than 39%. The high share is attributed to the presence of a supportive reimbursement framework for medical treatments and sophisticated healthcare facilities that are equipped with highly advanced tools and skilled neurosurgeons & cosmetic surgeons. Moreover, the prevalence of ophthalmic and neurologic disorders in this region is substantially higher, which is facilitating the regional market growth. Companies in the region are launching innovative products, which is also expected to augment the market growth in North America. For instance, in April 2019, Med X Change launched 4Klear “Lite” camera-only version.

Asia Pacific is anticipated to register the fastest CAGR from 2021 to 2028. Rising cases of ophthalmic disorders, growing medical tourism, and an increasing number of surgeries performed in inpatient and outpatient settings are among the major factors driving the market in the region. In addition, favorable government policies to improve the healthcare system and rapid economic development in many countries of the region are anticipated to boost the market growth over the forecast period.

Key Companies & Market Share Insights

New product launches, collaboration with hospitals and surgical centers for product installation, and mergers and acquisitions for product portfolio expansion are some of the strategies being adopted by key players of the market. For instance, in March 2020, Carl Zeiss acquired Saxonia Systems AG, a customized software solution provider. The acquired company now operates as Carl Zeiss Digital Innovation, offering customized software solutions to the customers. Some prominent players in the global surgical microscopes market include:

• Carl Zeiss Meditec AG

• Leica Microsystems

• Olympus Corp.

• Hagg-Streit Surgical GmbH

• Synaptive Medical

• Alcon, Inc.

• Topcon Corp.

• Takagi Seiko Co., Ltd.

• ARI Medical Technology Co., Ltd.

• Chammed Co., Ltd.

• Seiler Instrument, Inc. 

Surgical Microscopes Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented the global surgical microscopes market report on the basis of type, application, end-use, and region:

• Type Outlook (Revenue, USD Million, 2016 - 2028)

  • On Casters

  • Wall Mounted

  • Tabletop

  • Ceiling Mounted

• Application Outlook (Revenue, USD Million, 2016 - 2028)

  • Ophthalmology

  • Neurosurgery

  • Spine Surgery

  • ENT Surgery

  • Plastic & Reconstructive Surgeries

  • Gynecology

  • Urology

  • Dentistry

  • Other Surgeries

• End-use Outlook (Revenue, USD Million, 2016 - 2028)

  • Hospital

  • Physician Clinics & Others Settings

• Regional Outlook (Revenue, USD Million, 2016 - 2028)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • Italy

    • U.K.

  • Asia Pacific

    • Japan

    • China

    • India

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa (MEA)

    • South Africa

    • Egypt