Surgical Microscopes Market to Reach $1.39 Bn, Globally, by 2030 at 8.6% CAGR

According to the report published by Allied Market Research, the global surgical microscopes market was estimated at $612.79 million in 2020 and is expected to hit $1.39 billion by 2030, registering a CAGR of 8.6% from 2021 to 2030.

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Drivers, restraints, and opportunities-

Increased prevalence of ophthalmic diseases among geriatric population across the globe, surge in hospital admissions, and rise in investments to tackle chronic diseases drive the growth of the global surgical microscopes market. On the other hand, certain government regulations against the adoption of specific surgical microscopes hinder the growth to some extent. However, development of innovative instruments in the healthcare sector and launch of various solutions for fast, & accurate diagnosis are anticipated to create lucrative opportunities in the industry.

Covid-19 Scenario-

There was a steep decline in demand for surgical microscopes from the healthcare industry, especially during the initial phase of the pandemic, since most of the elective surgeries were either cancelled or postponed all throughout.
However, the market has already started recuperating and is projected to get back on track soon.

The low-range segment to retain the lion’s share-

By product type, the low-range segment held the major share in 2020, garnering more than two-fifths of the global surgical microscopes market. The same segment is also projected to cite the fastest CAGR of 8.9 % throughout the forecast period, due to rapid development of surgical microscopes.

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The outpatient facilities segment to dominate by 2030-

By end-user, the outpatient facilities segment contributed to the lion’s share in 2020, holding nearly three-fourths of the global surgical microscopes market. The same segment is also expected to manifest the fastest CAGR of 8.7% from 2021 to 2030, due to rise in their usage for the diagnosis of diseases.

North America held the major share in 2020-

By region, North America dominated in 2020, garnering more than two-fifths of the global surgical microscopes market. This is attributed to the robust infrastructure provided for research activities and presence of key players across North America. The market across Asia-Pacific, however, is expected to cite the fastest CAGR of 8.9% throughout the forecast period, due to increase in use of surgical microscope for the detection of infections, rise in R & D activities for new product launch, and surge in investments in the healthcare sector.

Key players in the industry-