Ophthalmic Operating Room Microscope Market to Reach $593.18 Mn, Globally, by 2027 at 5.1% CAGR: Allied Market Research
Increase in prevalence of geriatric population and rise in popularity of minimally invasive ophthalmic surgeries fuel the growth of the global ophthalmic OR microscope market
PORTLAND, Ore., April 12, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Ophthalmic Operating Room Microscope Market by Product (On Casters, Wall Mount, Table Top, and Ceiling Mounted), Indication (Cataract Surgery, Lasik, Keratoplastry Surgery, Trabeculectomy, and Others), End User (Hospital & Clinics and Ambulatory Surgical Centers): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global Ophthalmic OR Microscope Industry was estimated at $439.39 million in 2019, and is anticipated to hit $593.18 million by 2027, registering a CAGR of 5.1% from 2020 to 2027.
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Drivers, restraints, and opportunities-
Increase in prevalence of geriatric population, rise in popularity of minimally invasive ophthalmic surgeries, surge in the incidence of various eye-related diseases worldwide fuel the growth of the global ophthalmic OR microscope market. On the other hand, increase in customs tax and high cost of maintenance restrain the growth to some extent. However, extensive research & development efforts in ophthalmology, and evolution in ophthalmic imaging are expected to create lucrative opportunities in the coming years.
Covid-19 scenario-
- The outbreak of the pandemic led to a steep decline in the number of ophthalmic patients visiting hospitals. Also, it gave way to postponement of surgeries, thereby impacting the ophthalmic OR microscope market negatively.
- Moreover, since routine ophthalmic examinations are generally performed in a setting with close doctor-patient contact, tears could become a cause of cross-infection. This factor has again affected the market growth.
The on casters segment to dominate by 2027-
Based on product, the on casters segment contributed to nearly two-fifths of the global ophthalmic OR microscope market revenue in 2019, and is expected to dominate by the end of 2027. This is attributed to advantages offered by on caster microscope such as effective maneuvering and repositioning functionality requiring minimum efforts, which help in reducing the duration of the operation. At the same time, the wall mount and table top segments are anticipated to exhibit the fastest CAGR of 6.0% from 2020 to 2027.
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The cataract surgery segment to maintain the dominant share-
Based on indication, the cataract surgery segment accounted for nearly half of the global ophthalmic OR microscope market share in 2019, and is projected to rule the roost by 2027, owing to increase in prevalence of cataract disease and rise in geriatric population across the world. Simultaneously, the LASIK segment would garner the fastest CAGR of 6.4% from 2020 to 2027.
North America garnered the major share in 2019-
Based on region, North America held the major share in 2019, generating more than two-fifths of the global ophthalmic OR microscope market, due to the presence of large patient base suffering from ophthalmic disorders in the region. Moreover, well-established healthcare infrastructure, rise in ophthalmic surgeries, and surge in demand for ophthalmic operating room microscope in the province propel the market growth. The market across Asia-Pacific, on the other hand, would cite the fastest CAGR of 6.4% throughout the forecast period, owing to rise in cataract surgeries in the region. Furthermore, government initiatives and awareness programs toward eye-related diseases are expected to propel the demand for ophthalmic operating room microscope in Asia-Pacific.
Key players in the industry-
- Johnson & Johnson
- Carl Zeiss Meditec AG
- Inami & Co., Ltd
- Leica Microsystems (Danaher Corporation)
- Alcon (Novartis AG)
- Topcon Corporation
- Seiler medical
- Takagi Seiko Co., Ltd.
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