Market Trends of Surgical Microscopes Industry
Ophthalmology Segment is Expected to Hold a Largest Share in the Market Over the Forecast Period
Surgical microscopes are crucial in ophthalmology for various procedures like cataract surgery, retinal surgery, corneal transplants, glaucoma surgery, and vitrectomy. The growing incidence of ophthalmologic disorders that require minimally invasive procedures and increasing research funding for eye and vision-related diseases is expected to increase the availability of advanced microscopes for ophthalmology surgeries, hence boosting the segment’s growth.
The growing incidence of eye disorders and ophthalmic surgeries is expected to boost the segment's growth. For instance, as per the Royal Australian and New Zealand College of Ophthalmologists (RANZCO) Pre-Budget Submission 2022-2023, the estimated prevalence of glaucoma in Australians over 50 years is approximately 2.2%. As per the same source, the prevalence of glaucoma in Australia is projected to increase to 379,000 patients by 2025.
Furthermore, according to the article published by the JAMA Ophthalmology Journal in June 2023, an estimated 9.60 million people in the United States had diabetic retinopathy, and 1.84 million people had vision-threatening diabetic retinopathy in 2021. These instances show the increasing burden of ophthalmology diseases and raise the need for surgeries, which is likely to propel the market growth in the segment over the study period.
In addition, the growing number of collaborations among the major players and advances in surgical microscopes in the segment are expected to boost the segment's growth. For instance, in August 2022, Heidelberg Engineering unveiled its first ophthalmic solution in the field of digital surgical microscopy in collaboration with Bausch+Lomb. Therefore, the growing eye disorders and market player strategies increase the demand for the usage of surgical microscopes which is expected to boost the market growth over the forecast period.
North America is Expected to Hold a Significant Market Share Over the Forecast Period
The market's growth in the region is vastly attributed to the availability of highly advanced equipment, the presence of sophisticated facilities, skilled neurosurgeons and cosmetic surgeons, the increasing number of surgical facilities, the preference for outpatient settings, and the supportive reimbursement framework for medical treatments. Factors such as the rising prevalence of various chronic diseases increase the need for surgeries using surgical microscopes and are also expected to drive the market in the region.
The rising prevalence of cancer in the United States is projected to drive the demand for surgical microscopes to perform precise cancer surgeries in hospitals. For instance, according to the data published by the American Cancer Society (ACS), in January 2023, about 1,958,310 new cancer cases were projected to occur in the United States by the end of 2023, compared to 1,918,030 cases in 2022. Thus, the expected increase in cancer cases is anticipated to increase the adoption of surgical microscopes during the forecast period.
The active participation of prominent players in the launch of various advanced surgical microscopes in the region is also projected to drive market growth during the forecast period. For instance, in March 2023, Sight Sciences Inc. launched the Ergo-Series of the OMNI Surgical System, integrated with a surgical microscope to facilitate surgeons’ ability to perform minimally invasive, implant-free glaucoma procedures in adults with primary open-angle glaucoma. Thus, factors such as the rising prevalence of various chronic diseases and product launches increase the usage of surgical microscopes, which is expected to boost the market's growth in the region.
