The size of the Surgical Microscopes Market in the Asia Pacific is estimated to value from USD 102.48 million in 2020 to USD 210.45 million by 2025, estimated to be 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 in the country. Apart from this, the government's funds to treat patients in India are also expected to drive the growth of the Surgical Microscopes market in the country. 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. 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, and 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. 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 pose challenges for this market's growth.
COVID–19 Impact
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 North America Surgical Microscopes Market into the following categories and evaluated market size and forecast to each segment until 2024.
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.
The Asia-Pacific market is anticipated to experience the fastest growth during the forecast period. 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 countries in the area are some of the 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. India, Japan, and other parts of Asia are also new sources of income for market players, and emerging markets are home to over 83% of the world's population. 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. 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.
Major companies dominating 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.
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Application
5.1.1 Introduction
5.1.2 Ophthalmology
5.1.3 Ear, Nose and Throat(ENT) Surgery
5.1.4 Neuro and Spine Surgery
5.1.5 Dentistry
5.1.6 Gynecology
5.1.7 Urology
5.1.8 Plastic and Reconstructive Surgery
5.1.9 Oncology
5.1.10 Documentations
5.1.11 Y-o-Y Growth Analysis, By Application
5.1.12 Market Attractiveness Analysis, By Application
5.1.1.13 Market Share Analysis, By Application
5.2 End user
5.2.1 Introduction
5.2.2 Hospitals
5.2.3 Outpatient surgical centres
5.2.4 Y-o-Y Growth Analysis, By End user
5.2.6 Market Attractiveness Analysis, By End user
5.2.7 Market Share Analysis, By End user
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Application
6.1.3.3 By End user
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Application
6.1.4.3 By End user
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Application
6.1.5.3 By End user
6.2 China
6.3 India
6.4 Japan
6.5 South Korea
6.6 Australia
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Accu-Scope, Inc.
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Novartis AG
8.3 Alltion (Wuzhou) Co., Ltd.
8.4 Haag-Streit U.S.
8.5 Danaher Corporation
8.6 Alcon Laboratories, Inc.
8.7 Olympus Corporation ARRI AG
8.8 Leica Microsystem GmbH
8.9 Carl Zeiss
8.10 Topcon Medical Systems, Inc.
8.11 Global Surgical Corporation
8.12 Takagi Seiko co., Ltd.
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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