Microsurgical Instruments Market is anticipated to grow at a CAGR of 5.1% from 2020 to 2030.
Market Industry Reports (MIR) has published a new report titled “Microsurgical Instruments Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global microsurgical instruments market accounted for over approximately US$ 1.8 billion in 2019. It is anticipated to grow at a CAGR of 5.1% from 2020 to 2030.
The growth of the microsurgical instruments market can be attributed to several factors such as the wide-scale adoption of microsurgical instruments coupled with benefits associated with microsurgeries. Additionally, increasing patient awareness, coupled with the use of advanced technology in the field of microsurgical instruments, is anticipated to further promote growth of the microsurgical instruments market during the forecast period.
The adoption of microsurgical instruments is increasing across key regions majorly due to the benefits offered by microsurgeries over traditional surgeries such as shorter hospital stay, minimum blood loss and minimal pain associated with the surgery. Furthermore, the increasing number of surgeries among the geriatric population and the growing popularity of plastic & reconstructive surgeries are promoting growth of the microsurgical instruments market. Additionally, the increasing prevalence of chronic diseases, lifestyle disorders, and cancers will boost growth of the microsurgical instruments market.
Since the introduction of minimally-invasive procedures, the adoption of such procedures has witnessed significant growth in recent times. Shorter hospital stays, minimal post-procedure pain, and fewer complications have played a pivotal role in contributing to the growing adoption of such surgeries by surgeons. The growing preference for minimally invasive surgical procedures is likely to further propel growth of the microsurgical instruments market.
Browse key industry insights spread across 150 pages with market data tables & figures & charts from the report, Microsurgical Instruments Market By Product Type (Operating Microscopes, Micro Sutures, Micro Forceps, Microsurgery Needle Holders, and Micro Scissors), By Microsurgery Type (Orthopedic Microsurgery, Ophthalmic Microsurgery, Plastic & Reconstructive Microsurgery, Neurological Microsurgery, ENT Microsurgery, Dental Microsurgery, and Gynecological & Urological Microsurgery), and By End-User (Hospitals, Ambulatory Surgery Centers, and Academic & Research Centers) – Global Analysis & Forecast 2020-2030 in detail along with the table of contents:https://www.marketindustryreports.com/microsurgical-instruments-market/341
Although microsurgeries ensure reduced hospitalization times, better efficiency of procedures and several other benefits; however, the high costs associated with these procedures somewhat limit their adoption. Microsurgeries, when compared with traditional surgeries, are expensive, owing to the high costs of microsurgical instruments and high maintenance costs, which directly contributes to increased procedure costs of microsurgeries.
The Asia Pacific microsurgical instruments market is estimated to grow at the highest CAGR during the forecast period. Increasing population, continuously growing economy, rising disposable income and increasing awareness regarding microsurgeries are expected to propel growth of the microsurgical instruments market in the region. Additionally, supportive government healthcare regulations and norms are anticipated to present attractive growth prospects for the market during the forecast period.
Some of the prominent players in the microsurgical instruments market include ZEISS International, B. Braun Melsungen AG, Danaher Corporation, Becton, Dickinson and Company, Olympus Corporation, Alcon, Topcon Corporation, Global Surgical Corporation, Haag-Streit Surgical, and KLS Martin Group, among others.
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