The MarketResearchFuture.com recently included latest report as “Microsurgery Market Research Report – Global Forecast Till 2023” in its Huge Research Database. The global Microsurgery Market is expecting a sound growth during the forecasted period. Increasing prevalence of chronic diseases, elevating geriatric population and technological advancement in surgery have driven the market growth. Moreover, increasing healthcare expenditure, and rising demand for the better treatment have fueled the growth of the market. On the other hand, high cost of treatment and poor reimbursement policies in developed countries may restrain the growth of this market.
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Microsurgery Market Key Players:
Some of the key players in microsurgery market are AROSurgical Instruments (US), tisurg medical instruments Co., Ltd (China), Carl Zeiss Meditec AG (Germany), MicroSurgical Technology (US), SYNOVIS MICRO COMPANIES ALLIANCE, INC. (US), Peter LAZIC GmbH (Germany), BIONIKO (US), MICROSURGERY INSTRUMENTS, INC. (US).
Market Synopsis of the Global Microsurgery Market:
1. Microsurgery Market Scenario:
Microsurgery is a procedure that combines magnification and specialized precision tools & techniques during the surgery. These techniques are majorly used for the treatment of cancer & congenital deficiencies. It helps to heal wounds and restore function after trauma & cancer. The first microsurgery was performed in 1960 by Jules Jacobson.
The major driving factor for the market is increasing prevalence of the cancer, ophthalmic diseases and other chronic diseases. According to Cancer Research UK, in 2012, 14.1 million people across the globe were suffering from cancer. Increasing number of organ transplantation, advances in the surgical procedures and adoption of microscope in surgeries have also driven the market growth. Moreover, high healthcare expenditure, increasing geriatric population, and growing need for the better treatment of the diseases have fueled the market growth. However, high cost of the treatment and poor reimbursement policies for the medical devices may slower the market growth.
The global microsurgery market is expected to grow at a CAGR of 10.2% during the forecast period of 2017-2023.
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2. Microsurgery Market Segments:
The global microsurgery market is segmented on the basis of application, procedures, and end users. On the basis of applications the market is categorized into: general surgery, ophthalmology, plastic surgery, gynecological surgery, orthopedic surgery, oncology, neurosurgery, oral & maxillofacial surgery, podiatric surgery, and pediatric surgery.
On the basis of procedures the market is segmented into free tissue transfer, replantation, transplantation, and treatment of infertility. Replantation is further segmented into fingers & thumbs, ear, scalp, nose, and others. Treatment of infertility is further segmented into tubal obstructions, vas deferens obstructions and varicocele. On the basis of end users the market is segmented into hospitals & clinics, research organizations and others.
3. Microsurgery Market Regional Analysis:
The Americas account for the largest share of the global market owing to increasing cancer population, increasing prevalence of neurological diseases and deficiency diseases, and high healthcare spending. According to Centers for Disease Control and Prevention (2014), over 1.5 million cases of invasive cancer, including about 15,000 cases among children younger than 20 years are registered every year. Beside this increasing government support for research & development has supported the growth of the market.
Europe accounts for the second largest market which is followed by Asia Pacific. Availability of funds for research & development, increasing awareness about availability of treatments and well developed healthcare sector drives the market of microsurgery. On the other hand, Asia Pacific holds the fastest growth for microsurgery market owing to increasing number of people suffering from chronic diseases, elevating geriatric population, and demand for better treatments are the key factors for the market growth. China and India holds the major share for the market due to large patient pool. The Middle East & Africa is expected to show steady growth in this market due to low technology penetration and limited availability of innovative healthcare technologies.
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The report on the global microsurgery market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain deeper insight to the market and industry performance.
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