$2.2 Bn Microsurgical Instruments Market - Global Forecast to 2024

DUBLIN, Aug. 30, 2019 /PRNewswire/ -- The "Microsurgical Instruments Market by Type (Operating Microscopes, Micro Sutures (Non-Absorbable & Absorbable), Forceps, Needle Holder), Microsurgery (Plastic, Ophthal, ENT, Orthopedic, GYN), End User (Hospitals, ASCs, Academia) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The Microsurgical Instruments Market is Projected to Reach USD 2.2 Billion by 2024 From USD 1.7 Billion in 2019, at a CAGR of 5.2%

The increasing prevalence of chronic diseases, lifestyle disorders, and cancer; benefits of microsurgeries over traditional surgeries; and the increasing number of surgeries among the geriatric population & growing popularity of plastic and reconstructive surgeries are driving the growth of the microsurgical instruments market.

Ophthalmic microsurgeries segment to witness the highest growth in the microsurgical instruments market during the forecast period.

On the basis of the type of microsurgery, the microsurgical instruments market is segmented into orthopedic, neurological, ENT, ophthalmic, dental, gynecological & urological, plastic & reconstructive, and other microsurgeries. The ophthalmic microsurgeries segment is expected to witness the highest growth during the forecast period due to the high number of ophthalmic procedures performed across the globe, coupled with the high prevalence of eye diseases, and implementation of favorable initiatives.

Hospitals are the largest end-users of microsurgical instruments.

On the basis of end-user, the microsurgical instruments market is segmented into hospitals, ambulatory surgery centers, and academic & research centers. The hospital's segment accounted for the largest share of the microsurgical instruments market in 2018 as most surgeries involving the use of microsurgical instruments are carried out in hospitals. The increasing availability of cutting-edge instruments in hospitals owing to fewer budgetary constraints, the growing number of surgeries performed in these end-user settings, and increasing reimbursements for inpatient procedures are also key factors contributing to the large share of this end-user segment.

The Asia Pacific market is expected to witness the highest CAGR during the forecast period.

The Asia Pacific market is estimated to grow at the highest CAGR during the forecast period majorly due to the rising prevalence of lifestyle disorders, growing geriatric population, increasing investments for the improvement of the healthcare infrastructure, and rising medical tourism.

Market Dynamics

Key Drivers

• Benefits of Microsurgery Over Traditional Surgery
• Increasing Number of Surgeries Amongst the Geriatric Population and Growing Popularity of Plastic & Reconstructive Surgeries
• Increasing Prevalence of Chronic Diseases, Lifestyle Disorders, and Cancer

Key Restraints

• High Cost of Advanced Surgical/Operating Microscopes
• Reimbursement Challenges in the Medical Device Industry

Key Opportunities

• Emerging Markets
• Advancements in Microsurgical Technology
• Expanding Application Areas of Surgical/Operating Microscopes During Microsurgery

Key Challenges

• Lack of Skilled Surgeons to Perform Microsurgical Procedures

Key Trends

• Customized Surgical Microscopes
• The Use of Robots for Microsurgery

Companies Mentioned

• B. Braun Melsungen AG
• Beaver-Visitec International, Inc. (BVI)
• Danaher
• Global Surgical Corporation
• Haag-Streit Surgical
• Karl Kaps GmbH
• KLS Martin Group
• Microsurgery Instruments Inc
• Mitaka USA Inc.
• Novartis AG
• Olympus Corporation
• Scanlan International
• Stille
• Topcon Corporation
• ZEISS International

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