Global Microsurgical Instruments Market Size

Microsurgical Instruments Market Analysis

The microsurgical instruments market is expected to register a CAGR of 5.1% during the forecast period.

The COVID-19 pandemic had a significant impact on the microsurgical instruments market. Due to regulatory authorities' strict guidance to prevent any non-emergent surgeries, the volume of surgeries has drastically decreased throughout the pandemic. According to the study published in October 2021 by the National Library of Medicine globally, there has been a 42.8% decrease in general surgery admissions. Thus, the reduction in surgical procedures during the COVID-19 pandemic affected the market's growth. However, the postponed surgeries resumed worldwide, driving the market's growth during the post-pandemic period. The number of surgical procedures and chronic diseases, such as cardiovascular diseases, where surgery is mandatory is growing. This is the primary growth factor for the microsurgical instruments market. For instance, as per the research study published in June 2021 by the Journal of Thoracic and Cardiovascular Surgery, a total of 92,809 operations were classified as heart surgery procedures in the classical sense, of which 29,444 were isolated coronary artery bypass grafting procedures, 35,469 were isolated heart valve procedures, and the number of isolated heart transplantations increased by 2% to 340. Hence, the high number of heart procedures and operations being performed is expected to boost the growth of the microsurgical instruments market during the forecast period.

The significant advantage of microsurgery over conventional surgical procedures and an increasing number of surgeries, and the rising incidence of lifestyle and chronic diseases are the major factors why the number of microsurgical procedures is increasing around the world. For instance, according to a research study published by the National Library of Medicine in June 2021, under magnification, the microsurgical method for root coverage was found to be superior to the traditional microsurgical approach, and in addition to enhanced gingival thickness and patient satisfaction ratings, neovascularization at the microsurgical sites healed more quickly. Similarly, a research study published by the National Library of Medicine in May 2022, it was reported that the high-definition 3-dimensional (3D) exoscope (EX) offers the unique benefit of good comfort and appears to be a secure substitute for conventional anterior cervical discectomy and fusion (ACDF). It also benefits the surgical team as a valuable educational tool. Hence, owing to the many advantages of microsurgical procedures over conventional procedures, the adoption of microsurgical procedures is expected to increase, which is expected to increase the demand for microsurgical instruments, and thus, the market is expected to grow over the forecast period.

Furthermore, the increasing number of surgeries worldwide owing to the growing burden of chronic diseases is expected to augment the growth of the microsurgical instruments market during the forecast period. For instance, the data published by the European Heart network in 2021 reported that in the European Union, more than 60 million people live with cardiovascular disease, and close to 13 million new cases of cardiovascular diseases are diagnosed every year. Such increasing prevalence of cardiovascular diseases, which led to an increasing need for surgical procedures and treatment, is expected to drive the growth of the microsurgical instruments market.

Hence, owing to the above-mentioned factors, the microsurgical instruments market is expected to grow over the forecast period. However, the high cost associated with the surgery is expected to restrain the growth of the microsurgery instruments market during the forecast period.