(EMAILWIRE.COM, October 11, 2018 ) The global surgical microscopes market is projected to reach USD 915.6 Million by 2021 from USD 508.1 Million in 2016, growing at a CAGR of 12.5% during the forecast period.

The global market is segmented on the basis of application, end user, and region. On the basis of application, the market is broadly segmented into neuro and spine surgery, plastic and reconstructive surgery, ophthalmology, gynecology and urology, oncology, dentistry, ENT surgery, and documentation. In 2016, the neuro and spine surgery segment is expected to account for the largest share of the market.

Factors attributing to the growth of this segment are the increasing demand for surgical microscopes in neurosurgery. However, the oncology segment is expected to grow at the highest CAGR during the forecast period due to the increasing prevalence of cancer across the globe.

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On the basis of end user, the market is segmented into hospitals and outpatient facilities. In 2016, the hospitals segment is expected to account for the largest share of the market. The growing usage of operating microscopes in complex neurology, ENT, and dental procedures, and implementation of less-invasive surgical instruments during MIS procedures in hospitals are key market drivers in this end-user segment.

The increasing use of fluorescence image-guided surgery (FIGS), increase in the number of surgeries and growing demand for MIS, advancements in healthcare facilities, technological advancements, and customized microscopy solutions are the key factors driving the growth of the global market. However, factors such as high cost of advanced surgical microscopes, implementation of excise tax by the U.S. government, and high custom duties on medical devices are restraining the growth of this market to a certain extent.

The market is dominated by established players such as Novartis AG (Switzerland), Danaher Corporation (U.S.), Topcon Corporation (Japan), Carl Zeiss AG (Germany), and Haag-Streit Surgical (Germany).

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