The size of the Surgical Microscopes Market in the Asia Pacific is estimated to value USD 118.34 million in 2023 and USD 243.04 million by 2028, growing at a CAGR of 15.48% during the forecast period.
The surgical microscope is an optical device that provides high quality, illuminated, magnified, stereoscopic view of small structures during surgeries.
Factors such as government initiatives to promote the manufacture of medical devices in the region, the growing number of cosmetic and cataract surgeries, and increasing commercial applications in healthcare sectors drive the growth of this market. During the forecast period, the Indian market is expected to advance with a higher growth rate. According to the Indian Brand Equity Foundation Organization in 2019, the Indian government has taken several steps to promote medical devices. Apart from this, the government's funds to treat patients in India are also expected to drive the country's growth of the Surgical Microscopes market. With the advent of these microscopes, surgeons have become easier to perform such procedures with greater precision in less time, thus driving the market's growth. In addition, the launch of technologically advanced products goes the need for surgical microscopes as they are more accurate, offer finer light sources, and provide options for customization and technological integration, relying on the procedures' complexity. Emerging technologies such as wide-angle lighting, red reflex lighting, augmented reality automation, and microscopy are expected to drive market growth.
A highly skilled workforce is required to handle advanced surgical microscopes, especially in neurosurgery and ophthalmology. Efficiently operating an operating/surgical microscope is a primary requirement when performing a procedure. Therefore, handling a surgical/operating microscope is a skill that requires experience. Lack of this capability could result in wasted time adjusting the microscope to obtain optimal surgical site views. However, maneuvering under the microscope is often overlooked as a trivial task, and there are no quantitative methods to assess the development of maneuvering skills under the microscope. Hence, the shortage of skilled human resources and the instrumentation's complexity may challenge this market's growth.
COVID–19 Impact on the APAC surgical microscopes market:
The current COVID-19 pandemic underscores the importance of prudent use of human and financial resources vital in healthcare. It is essential to determine the ability of surgeons and specialist professionals to function during the pandemic. A conscious effort is needed to minimize the spread of infection, and a high death rate worldwide would be detrimental. All COVID-19 positive or suspected patients requiring surgery should be treated as positive to reduce the infection rate. Surgical microscopes are believed to play an essential role in identifying lung disease, which could be due to COVID-19.
This research report segmented and sub-segmented the APAC Surgical Microscopes Market into the following categories:
By Price Range:
Based on the region, The Asia Pacific is one of the most lucrative markets for the growth of the surgical microscopes market and is projected to grow the highest during the forecast period. Factors such as growing demographics and emerging economies in countries such as India and China are anticipated to lead the growth of the market in this region. In addition, the greater incidence of ophthalmic disorders, the elevation in medical tourism, and the increasing number of inpatient and outpatient surgeries are significant factors driving the region's market. Besides, favorable government policies to improve the healthcare system and rapid economic development in many areas are factors that are likely to boost the market during the forecast period. China is a more significant potential market for surgical/operative microscopes because of the quick availability of a skilled workforce and academic excellence.
With the increasing prevalence of lifestyle-related diseases, many patients in emerging countries require medical assistance, including surgery. Over time, great attention has been paid to the accessibility of health care in emerging countries. Furthermore, with the increasing purchasing power of the growing middle-class population in emerging countries, an expanding number of people can afford essential care, including GIS procedures. Hence, the rising middle class in surfacing markets will drive the growth of the APAC Surgical Microscopes Market.
KEY MARKET PLAYERS:
Companies playing a significant role in the APAC surgical microscopes market profiled in this report are Accu-Scope, Inc., Novartis AG, Alltion (Wuzhou) Co., Ltd, Haag-Streit U.S, Danaher Corporation, Alcon Laboratories, Inc., Olympus Corporation ARRI AG, Leica Microsystem GmbH, Carl Zeiss, Topcon Medical Systems, Inc., Global Surgical Corporation & Takagi Seiko co., Ltd.
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