The global Microsurgical Instruments Market size is expected to reach USD 2.99 Billion in 2030 and register a revenue CAGR of 5.2% over the forecast period, according to the latest report by Reports and Data. Increasing prevalence of chronic diseases, lifestyle disorders, and cancer, and expanding application areas of surgical/operating microscopes during microsurgery are major factors driving revenue growth of the market. However, reimbursement challenges in the medical device industry is a major factor, which could restrain revenue growth of the market.
Cataract surgery is the most frequently performed surgical procedure in many developed countries, providing significant, long-term, and cost-effective improvements in the quality of life for patients of all ages. The World Health Organization (WHO) has set a cataract surgery rate of 3,000 per million people per year as the minimum necessary to eliminate cataract blindness. This rate is greatly exceeded in many developed countries and surgery rates are steadily increasing. Increasing cataract surgery rates have reduced visual impairment thresholds and increased patients' expectations for better vision.
Several therapies and treatments are prevailing but have several barriers that may limit the patient’s long-term utility. These barriers include noncompliance with the prescribed regimen, intolerance of medication side effects, financial burden, restricted access to medication, or physical inability to reliably self-administer eye drops. The advent of micro-invasive surgery has sought to fulfill the unmet need for improved treatment options and reduce the treatment gap. Minimally invasive surgical procedures are used to reduce drop dependence during traditional phacoemulsification surgery in patients whose disease may be well controlled. Over the last decade, advances in cataract surgery techniques and technologies have led to improved patient safety and better surgical outcomes.
Rising demand for ophthalmology due to defects in the eye across different age groups has led various healthcare companies to develop microsurgical instruments for surgeons to conduct operations with higher efficiency and reduce chances of complication. These instruments help in tackling sensitive organs precisely during the operations and help surgeons reach those significant points and treat specific blood vessels and nerves that were very difficult to achieve at one point in time. Government initiatives to provide eyesight to underprivileged people and the association of key market players towards this aspect is expected to drive the market revenue growth during the forecast period, especially in developing and underdeveloped countries.
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Some Key Highlights from the Report
- Based on microsurgery type, the ophthalmic microsurgeries segment is expected to register fastest revenue CAGR during the forecast period due to increase in the number of cataract and glaucoma cases worldwide. Number of people in the U.S. with glaucoma is expected to increase by more than double, from 2.7 million to 6.3 million during the forecast period. By 2050, the number of people in the U.S. with cataracts is expected to double from 24.4 million to about 50 million. The government is also taking steps to provide better treatment to underprivileged citizens, leading to an increase in the number of ophthalmic microsurgeries. Doctors are advising hospitals to acquire microsurgical instruments mainly operating microscopes, for better treatment which is expected to drive revenue growth of the segment.
- Based on end-use, the hospitals segment accounted for largest revenue share in 2021 and is expected to register a faster revenue CAGR during the forecast period due to recent advancements toward minimally invasive procedures while conducting an operation. According to various reports, about 3646 surgeries are performed in India per 0.1 million people per year, where cataracts, fractures, and caesarean section are the major contributors to surgical needs. Increasing cases of several diseases and rise in geriatric population would increase the number of microsurgeries, which is expected to drive revenue growth of the segment.
- The market in Asia Pacific is expected to register fastest revenue CAGR during the forecast period due to rising demand for surgical/operating microscopes for treating patients suffering from different disorders. Countries within this region primarily focus on developing their healthcare infrastructure by building new hospitals under public-private partnerships. Presence of doctors is significantly less compared to population. Hence, demand for doctors is also significant as many individuals are devoid of treatment. The vast untapped market potential is available within this region, attracting investments from across the globe. Rise in the number of patients suffering from disease and geriatric population is expected to drive revenue growth of the market.
- In July 2021, Stille AB signed a contract to acquire 100% of the shares in the Swiss company ST AG with development, manufacturing and sales of microsurgical instruments. ST AG was founded in 1966 and has its headquarters and manufacturing in Neuhausen, Switzerland. ST is globally recognized as one of the world’s leading manufacturers of high-quality microsurgical instruments.
- Companies profiled in the global market report include Zeiss International, B. Braun Melsungen AG, Global Surgical Corporation, Karl Kaps GmbH Co., Danaher Corporation, Microsurgery Instruments Inc., Novartis AG., Haag-Streit AG., Olympus Corporation, and Topcon Corporation
- For the purpose of this report, Reports and Data has segmented the global microsurgical instruments market based on type, microsurgery type, end-use, and region:
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Type Outlook (Revenue, USD Million; 2019–2030)
- Operating Microscopes
- Micro Sutures
- Micro Forceps
- Micro Scissors
- Others
Microsurgery Type Outlook (Revenue, USD Million; 2019–2030)
- Plastic Reconstructive Microsurgeries
- Orthopedic Microsurgeries
- Ophthalmic Microsurgeries
- ENT Microsurgeries
- Neurological Microsurgeries
- Dental Microsurgeries
- Gynecological Urological Microsurgeries
- Others
End-use Outlook (Revenue, USD Million; 2019–2030)
- Hospitals
- Ambulatory Surgery Centers
- Academic Research Centers
Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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