The size of the North America Surgical Microscopes Market is estimated to grow USD 498.71 million by 2027 from USD 274.30 Million in 2022, growing at a CAGR of 12.7% from 2022 to 2027.
Surgical Microscopes are optical devices that are controlled electrically or mechanically and are used to perform microsurgeries in surgical settings. Medical professionals can operate the device without strain because it has features like stereoscopic vision, an illuminated image of the surgical area, and magnification. Neurosurgery, urology, gynecology, ENT, spine surgery, plastic and reconstructive surgery, ophthalmology, and dentistry all use these.
Due to the characteristics like precision, improved illumination, and the flexibility to modify and integrate technologies based on the complexity of the processes. The rise influences the surgical microscopes market in demand for ophthalmic microscopes due to growing concerns about vision and eyesight, as well as technological innovation.
The rising prevalence of chronic diseases and the adoption of microsurgeries or minimally invasive surgeries are the major drivers for the North American market. Furthermore, advancements in health care infrastructure, rapid technological advancements in surgical microscopes, and R&D in life sciences are predicted to drive the market. Furthermore, the rise in chronic diseases and the preference for minimally invasive surgery or microsurgery propel the industry forward. In addition, the rising rates of neurosurgery and spine surgery and research and development efforts in the life sciences provide the potential for market participants over the forecast period.
However, excise tax implementations by the U.S. government, lack of skilled professionals, and inadequate technical knowledge are the restraints for the market. The introduction of high taxes by the U.S. government is projected to stifle market growth. The surgical microscopes market will face challenges due to a lack of qualified labor and technical understanding during the forecast period. Also, the market is likely to be hampered by low acceptability due to expensive costs.
This research report segmented and sub-segmented the North America Surgical Microscopes Market into the following categories:
By Price Range:
Geographically, the North American market dominated the global market, with around 35.0% share in 2020. Developed healthcare facilities, reimbursement facilities over medical treatments facilitated the more significant usage of this equipment. Moreover, the prevalence of chronic disorders in this region is substantially higher than the global average, thus contributing significantly to this region's growth. Due to skilled neuro, innovative equipment, and improved healthcare facilities, North America dominates the surgical microscopes market globally. The surgical microscope market in the region is further influenced by the prevalence of ophthalmic and neurologic illnesses and the preference for outpatient settings. The North American market is divided into two parts, the United States and Canada.
Tympanostomy tube insertion surgery, often know as ear tube surgery, is the most commonly performed procedure in children in the United States, according to data provided by The Children’s Hospital of Philadelphia. Every year, the facility performs around 4,000 ear tube procedures. As a result, an increase in ENT treatments is likely to promote sector expansion. In addition, due to increased demand for aesthetic density and an increase in the number of reconstructive procedures, the density, plastic, and reconstructive surgery categories are predicted to grow at a significant CAGR from 2022 to 2027.
The application of neurosurgery is expected to rise steadily in the future year as more advanced techniques, including surgical microscopes, are adopted.
Furthermore, the frequency of ophthalmic and neurologic illnesses is much higher, boosting regional market expansion. Innovative products are being introduced by companies in this region, which is expected to boost the market growth in North America.
KEY MARKET PLAYERS:
Companies such as 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 are currently leading the North American surgical microscopes market.
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