Ophthalmology segment dominated the market in 2015 with one-fourth market share, and is expected to maintain its dominance throughout the forecast period due to increase in population undergoing ophthalmic surgeries worldwide. Moreover, ENT segment is projected to exhibit higher growth rate among all the other applications, closely followed by plastic & reconstructive surgery and oncology segments.
According to the report published by Allied Market Research, the global “Surgical Microscopes Market by Application (Dentistry, ENT, Gynecology & Urology, Neurosurgery & Spine Surgery, Oncology, Ophthalmology and Plastic and Reconstructive Surgeries), End-user (Hospitals and Outpatient facility) – Global Opportunity Analysis and Industry Forecast, 2022 – 2030″.The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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Key players in the global surgical microscope industry adopted different business strategies, such as capacity and business expansion, partnerships, mergers, acquisitions, and product & application development to survive in the global competitive market. The data pertaining to market players and their strategic moves are gathered through press releases of the respective companies, various blogs available on their websites, and primary calls made to the experts in the industry.
Technologically advanced products and customizations for clinical and pre-clinical applications have enabled Tier II and Tier III players to penetrate into the market; while, Tier I players have strengthened their market position through organic growth and acquisitions strategies – Analyst Jayant Nannore, at Allied Market Research.
The demand for surgical microscopes has witnessed tremendous growth due to growth in global geriatric population, increase in R&D activity in life science sector, growth in health care infrastructure, and increase in demand for minimally invasive surgeries. In addition, governmental funding & support for implementing the healthcare infrastructure and technological advancement are some of the factors anticipated to play a major role in the growth of the developed markets. However, sale of used and refurbished equipment and high pricing of equipment in developing region are some of challenges, which can hamper the growth of the market to some extent during the forecast period.
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