Market Size of Surgical Microscopes Industry
| Study Period | 2019-2029 |
| Market Size (2024) | USD 1.41 Billion |
| Market Size (2029) | USD 2.46 Billion |
| CAGR (2024 - 2029) | 11.77 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Surgical Microscopes Market Analysis
The Surgical Microscopes Market size in terms of Equal-11.77 is expected to grow from USD 1.41 billion in 2024 to USD 2.46 billion by 2029, at a CAGR of 11.77% during the forecast period (2024-2029).
The impact of COVID-19 in its initial phase was adverse to the market growth due to the cancellations of elective procedures, including surgeries worldwide. However, the market started to gain traction due to the resumption of surgical procedures. For instance, as per the report published by the Canadian Joint Replacement Registry (CJRR) in September 2023, more than 117,000 hip and knee replacements were performed in Canada in 2021-2022, which was 5.9% more compared to the pandemic period. Therefore, the COVID-19 pandemic had an adverse impact on the surgical microscopes market initially. However, after the limits were relaxed, the market expanded due to an increase in alternative management approaches for surgeries.
Factors driving the market include the increasing adoption of minimally invasive surgeries, the rising geriatric population and burden of chronic diseases, and technological advancements in surgical microscopes.
For instance, according to the study published by the Pediatric Surgery International Journal in March 2022, minimally invasive surgery (MIS) is frequently the preferred procedure for most abdominal and pelvic surgeries due to benefits like decreased morbidity and quicker recovery times. Similarly, according to an article published by the Journal of the American Academy of Orthopedic Surgeons in February 2023, there is a rapidly growing interest in minimally invasive surgery (MIS) of the foot and ankle. Such a rise in the adoption of MIS is expected to lead to increased usage of surgical microscopes, which is expected to boost the market’s growth over the study period.
Furthermore, the advancements in surgical microscopes improve the precision of these devices, which is expected to have high demand in operating theaters and is anticipated to propel the market’s growth. For instance, as per the report published by Corder in September 2023, integrating cutting-edge technology into neurosurgical microscopes sets them apart from traditional surgical microscopes. This advanced surgical instrument combines superior optics, lighting, and ergonomic design to provide surgeons with an excellent visual experience.
Hence, the factors mentioned above, such as the increasing adoption of minimally invasive surgeries and the key advancements in surgical microscopes, are expected to boost the market's growth. However, factors such as a lack of skilled professionals and low acceptance due to high costs are likely to hamper this growth over the forecast period.
