Growing awareness pertaining to the advantages associated with minimally invasive surgeries (MIS), growing demand for rapid, effective and efficient diagnostic procedures and the implementation of diversified technologies such as high throughput and robot assisted surgical tools are expected to boost surgical microscopes over the forecast period. Surgical microscope is an optical device that is specifically designed to be used in microsurgery by giving 3D visualization. This market is expected to register significant growth over the forecast period owing to aforementioned factors. However, huge demand for technically sound operator, rising excise taxes and custom duties imposition on medical equipments by government, and the high price of these sophisticated devices are few factors impeding market growth.
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Oncology segment emerged as one of the fastest growing application area in surgical microscopes market over the forecast period. Key factors for its lucrative growth includes growing prevalence for malignancy due improper lifestyle factors such as lack of regular exercise, intoxication, and frequent consumption of red meat, growing geriatric population, increasing environmental pollutants, and frequent exposition to radiation (both ionizing and non ionizing). In 2014, on the basis of end use, hospital facilities accounted for the largest market share owing to factors such as the availability of large funds with hospital chains for capital investment and growing awareness levels among the patient & healthcare practitioner regarding modern diagnostics tools.
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The key regional markets analyzed in the study include North America, Europe, Asia Pacific, MEA and Latin America. In 2014, North America is expected to dominate the market by virtue of increasing geriatric population, growing requirement for focused and accurate diagnostic procedures. However, Asia Pacific on account of favorable government initiatives such as “Change India” and “Make In India”, increasing demand for R&D, increasing the pool of patients, growing prevalence of cancer and increasing government funding is expected to witness lucrative growth during the forecast period.
Key players operating in global surgical microscopes market includes Olympus Corporation, Alcon Laboratories, Alltion (Wuzhou) Co. Ltd., Carl Zeiss, Leica Microsystems, Takagi Seiko Co Ltd., and ACCU-SCOPE Inc
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