Global Microsurgical Instruments Market Size, Trends, and Analysis- Forecasts To 2026 By Type (Micro Sutures, Microsurgery Needle Holders, Operating Microscopes, Micro Forceps, Micro Scissors, Other Microsurgical Instruments), By Microsurgery Type (Orthopedic Microsurgeries, ENT Microsurgeries, Dental Microsurgeries, Plastic & Reconstruction Microsurgeries, Ophthalmic Microsurgeries, Neurological Microsurgeries, Gynecological & Urological Microsurgeries, Other Microsurgeries), By End-User (Academic & Research Centers, Hospitals, Ambulatory Surgery Centres), By Region (North America, Asia Pacific, CSA, Europe, and the Middle East and Africa); End-User Landscape, Company Market Share Analysis & Competitor Analysis
Microsurgeries are conducted using microscopes with smaller instruments. They are essential for the investigation of small blood vessels, tubes, and nerves. Some common microsurgical treatments in which the use of microsurgical instruments is higher include head and neck reconstruction, breast reconstruction, toe transplantation, and lymphatic reconstruction, among others. The growing number of surgeries among the population is anticipated to push the growth of this market over the coming years. Moreover, the increasing incidence of eye diseases and rising orthopedic surgeries is expected to see tremendous growth. Furthermore, rising medical tourism, along with increasing government initiatives and policies to fund surgeries across the globe, is anticipated to increase the demand for microsurgical instruments in the market between 2021 and 2026.
Micro sutures, microsurgery needle holders, operating microscopes, micro forceps, micro scissors, and other microsurgical instruments are some of the different types of microsurgical instruments. In terms of revenue, from 2021-2026, operating microscopes will hold the largest market share. The growing number of ophthalmic surgeries such as glaucoma and cataract procedures have helped the segment hold a dominant position in the market.
As per the type of microsurgeries outlook, the market is divided into seven segments namely; orthopedic microsurgeries, ENT microsurgeries, dental microsurgeries, plastic & reconstruction microsurgeries, ophthalmic microsurgeries, neurological microsurgeries, gynecological & urological microsurgeries, and other microsurgeries. The largest shareholder in 2020 was the plastic & reconstruction microsurgeries segment. Growing awareness of cosmetic procedures and the increasing number of robotic surgeries are the key drivers of market growth.
Based on the analysis, the end-user market can be classified into three categories: academic and research institutions, hospitals, and ambulatory surgery centers. The hospital segment is expected to dominate the market over the expected timeline in terms of revenue. The increasing adoption of state-of-the-art equipment in hospitals due to fewer budgetary restrictions, the rising number of surgeries conducted in hospitals, and increasing reimbursements for inpatient procedures are major factors leading to segmental growth.
The North American region is expected to be the dominant segment in the market. This can be mainly due to the large patient pool, increasing geriatric population, growing demand for minimally invasive surgeries and plastic surgeries, and increasing demand for surgical/operating microscopes. On the other hand, Asia Pacific will be the fastest-growing region due to the growing enhancements in the healthcare facilities and increasing medical tourism. Growing demand for robotic surgery, increasing insurance coverage, are likely to support market growth.
In this market, the key players competing are B. Braun Melsungen AG, Zeiss International, Haag-Streit Surgical, KLS Martin Group, Microsurgery Instruments Inc, Novartis AG, Scanlan International, Topcon Corporation, Beaver-Visitec International, Inc. (BVI), Global Surgical Corporation, Karl Kaps GmbH, Danaher, Mitaka USA Inc., Olympus Corporation, and Stille among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In October 2018, Leica Microsystems entered into a distribution partnership with Polytech Domilens for the sales and distribution of surgical microscopes in Germany.
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The Global Microsurgical Instruments Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Microsurgical Instruments Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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