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(MoneyNewsWire.Net, May 03, 2018 ) The global surgical microscopes market is projected to reach USD 915.6 Million by 2021 from USD 508.1 Million in 2016, growing at a CAGR of 12.5% during the forecast period.
The increasing use of fluorescence image-guided surgery (FIGS), increase in the number of surgeries and growing demand for MIS, advancements in healthcare facilities, technological advancements, and customized microscopy solutions are the key factors driving the growth of the global market. However, factors such as high cost of advanced operating microscopes, implementation of excise tax by the U.S. government, and high custom duties on medical devices are restraining the growth of this market to a certain extent.
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The surgical microscopes market is segmented on the basis of application, end user, and region. Based on application, the market is segmented into neuro and spine surgery, plastic and reconstructive surgery, ophthalmology, gynecology and urology, oncology, dentistry, ENT surgery, and documentation. In 2016, the neuro and spine surgery segment is expected to account for the largest share of the market due to the increasing demand for operating microscopes in neurosurgery. However, the oncology segment is expected to grow at the highest CAGR during the forecast period. This can be attributed to the increasing prevalence of cancer around the world.
Based on end user, the market is segmented into hospitals and outpatient facilities. In 2016, hospitals are estimated to account for the largest share of the global market. The growing usage of surgical microscopes in complex neurology, ENT, and dental procedures, and implementation of less-invasive surgical instruments during MIS procedures in hospitals are key market drivers in this end-user segment.
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Geographically, North America is expected to account for the largest share of the market in 2016. Factors such as the growing demand for minimally invasive surgical procedures, infrastructural advancements in healthcare facilities, and increase in the number of surgeries are driving the growth of the North American surgical microscopes market. Compared to the mature markets, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. Growth in this market is propelled by factors such as improving R&D infrastructure, rising focus of market players on this region, and increasing government initiatives.
Major players operating in the surgical microscopes market include Novartis AG (Switzerland), Danaher Corporation (U.S.), Topcon Corporation (Japan), Carl Zeiss AG (Germany), and Hagg-Streit Surgical (Germany),
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