Rising Demand of Minimally Invasive Surgeries Is Expected to Enhance the Surgical Microscopes Market

Publisher: The Insight Partners

Rising demand of minimally invasive surgeries is expected to drive the growth of the market. However, the high cost associated with surgical microscopes is expected to hamper the growth of the market. A minimally invasive medical procedure is generally carried out by entering the device in body through the skin or through a body cavity or anatomical opening, but with the smallest damage possible to these structures. Minimally invasive surgeries are being performed widely during the recent years. Normally minimally invasive surgery is implemented using an endoscope or a surgical microscope that is used to visualize the minute details in the anatomy of the surgical sites.

The major players operating in the surgical microscopes market include, Olympus Corporation, Novartis AG, Topcon Corporation, Leica Microsystems, Haag Streit Holding AG, Alltian (Wuzhou) Co. Ltd., Keyence Corporation, ARI Medical Technology Co. Ltd., Carl Zeiss Meditec AG, and Takagi Seiko Co. Ltd.

There has been a rise in the number of people opting for minimally invasive surgeries. Unlike traditional surgical procedures, a minimally invasive surgery requires only a small incision to be made. Since these incisions are tiny, the patient recovers at a faster rate comparatively, with less discomfort. Some of the benefits of a minimally invasive surgery include, few small cuts, less trauma to the muscles, nerves and tissues, less bleeding & scarring, less trauma to organs, less pain and reduced use of narcotics, less hospital time, and less effect on the immune system. According to American Society of Plastic Surgeons (ASPS) statistics there were 17.1 million surgical and minimally-invasive cosmetic procedures performed in the United States in 2016. According to the data reported by American Academy of Otolaryngology and Otolaryngology Workforce Analysis 2016, approximately 33.8% of ENT outpatient visitors indulge into a surgical procedure. The statistics and figures denotes the growth of minimally invasive surgeries thereby conducting a favorable scenario for the growth of surgical microscopes market.

The cost of a surgical microscopes equipment is considered to be high. Factors determining the cost of a surgical microscopes equipment include, facility setting, availability of insurance as well as the location where the facility is located. In recent years, the demand for cutting edge technology in order to gain optimum results and accuracy from a surgical procedure in shorter time duration is increasing. Technological development has enabled advances in imaging and microscopic technology leading to a sharp increase in the cost of these equipment. Companies such as Leica, Olympus, Carl Zeiss Meditec AG and others offer surgical microscopic instruments with advanced facilities and high magnification powers at significantly high costs. In economies where the per capita income of the population is comparatively low, the procedure may seem to be less affordable due to high costs of the equipment and other setup charges incurred by the private medical facilities, majorly hospitals, clinics and other outpatient departments. This can lead to a decline in the market growth of surgical microscopes.