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(Medical-NewsWire.com, November 27, 2019 ) According to research report the global surgical microscopes market is projected to reach USD 915.6 million by 2021 from USD 508.1 million in 2016, growing at a CAGR of 12.5% during the forecast period. The global surgical microscopes market is segmented based on application, end user, and region.
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).
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Geographical overview -
The Asia-Pacific region (comprising China, India, and RoAPAC) is expected to grow at the highest CAGR during the forecast period. The high growth in this regional segment can primarily be attributed to the presence of high-growth markets such as Japan, China, India, South Korea, Taiwan, Australia, and Singapore. In recent years, the Asia-Pacific market for surgical/operating microscopes has witnessed significant growth due to improving R&D infrastructure, rising focus of market players, and increasing government initiatives.
The global surgical microscopes market is segmented based on application, end user, and region. Based on application, the market is segmented into neuro and spine surgery, plastic and reconstructive surgery, ophthalmology, gynaecology and urology, oncology, dentistry, ENT surgery, and documentation.
Market growth factors –
• 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
Market Segmentation:
• Based on application, the market is broadly segmented into neuro and spine surgery, plastic and reconstructive surgery, ophthalmology, gynaecology 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.
o 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 of end user, the surgical microscopes market is segmented into hospitals and outpatient facilities. In 2016, hospitals are estimated to account for the largest share of the global surgical microscopes market. The growing usage of surgical/operating microscopes in complex neurology, ENT, and dental procedures, and implementation of less-invasive surgical instruments during MIS procedures in hospitals are key market drivers in this end-user segment. In 2016, North America is expected to account for the largest share of the global surgical microscopes market.
o Factors such as the growing demand for minimally invasive surgical procedures, infrastructural advancements in healthcare facilities, and increase in the number of surgeries are driving the growth of the North American surgical microscopes market.
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