The global microsurgery market size was valued at USD 2.2 billion in 2022 and is estimated to grow at a compound annual growth rate (CAGR) of 5.5% from 2023 to 2030. The industry growth is driven by the progression in the volume of surgical procedures, which is driven by the increased incidence of lifestyle disorders and the aging population across the globe and improving access to healthcare in developing economies. The COVID-19 pandemic has placed a massive strain on the global healthcare workforce, infrastructure, and supply chain.
This has led to policy action and increased government spending toward augmenting healthcare infrastructure as governments prepare for various influences of the virus in the short term, and place a better focus on public health beyond the pandemic. Furthermore, interruptions in the supply chain during the pandemic have also encouraged investments in expanding supply chains and decreasing dependence on a single nation. Asian countries with a sizable manufacturing base for medical devices are well-poised to help from diversification initiatives. The COVID-19 pandemic has led to a decrease in the volume of surgeries by 25%, resulting in a substantial surfeit of elective surgeries. Post-easing of COVID-19 limitations, there has been a rise in surgical volumes, and this trend is anticipated to continue over the next few years.
For instance, the volume of surgical procedures in India has increased from 1,500 per 100,000 people to 2,000 per 100,000 people from 2015 to 2019. The gap between India and other emerging economies has been reducing over the last few years as the Indian government has started several initiatives to increase access to healthcare in India. In the last decade, a handful of independent medical device companies have invested in R&D, manufacturing capabilities, and mergers & acquisitions to distinguish themselves and compete in the domestic and exports market against multinational companies and others. At present, there are around 5-6 such market participants, that are well placed to gain industry share.
On the basis of equipment, the industry has been further categorized into operating microscopes, micro sutures, micro forceps, microsurgery needle holders, and others. The operating microscopes segment dominated the industry in 2022 and accounted for the largest share of more than 30.55% of the overall revenue. Operating microscopes provide bright illumination, and adjustable magnification, along with clear visualization of the surgical field, and are progressively used in operating rooms.
These microscopes also allow healthcare professionals to perform complex procedures and improve surgical outcomes during neurosurgery, plastic & reconstructive surgeries, and ophthalmic procedures. The micro sutures segment also held a considerable revenue share in 2022 and is estimated to expand further at the fastest growth rate during the forecast period. The adoption of absorbable micro sutures is constantly rising, which can be accredited to their ability to degrade naturally. Owing to this, key players are participating in R&D activities, which may strengthen segment growth.
On the basis of applications, the industry has been further categorized into plastic & reconstructive, oncology, ophthalmic, orthopedic, neurology, gynecological & urological microsurgery, and others. The plastic and reconstructive surgeries application segment dominated the global industry in 2022 and accounted for the maximum share of more than 21.35% of the overall revenue. The segment is projected to expand further at a considerable growth rate maintaining its dominant position throughout the forecast period. Increasing awareness regarding cosmetic procedures will boost segment growth.
Moreover, the rising disposable income in developing economies is anticipated to boost the demand for plastic surgeries. The growing popularity of plastic & reconstructive surgeries and extensive usage of microsurgery equipment in such surgeries will foster the segment growth. The ophthalmic segment also accounted for a substantial share in 2022. An increasing number of ophthalmic procedures across the globe is likely to boost the demand for microsurgery equipment. Advancements in microsurgical technologies and the growing scope of application of surgical/operating microscopes in ophthalmology are expected to provide lucrative growth opportunities to the segment.
On the basis of procedures, the industry has been further categorized into free tissue transfer, transplantation, suture and grafting, and others. The free tissue transfer segment dominated the industry in 2022 and accounted for the maximum share of more than 30.30% of the overall revenue. Free tissue transfer procedure has the ability to reinstate appearance and function in larger areas. This procedure is done with accurate and fine sutures under a microscope. Hence, increasing usage of microsurgery equipment, such as microscopes, sutures, forceps, and others, is predicted to enhance market growth.
The transplantation also accounted for a significant revenue share in 2022. An increasing number of kidney and heart transplant surgeries performed along with the rising awareness levels about the advantages of the transplantation process, such as increased energy levels, increased lifespan, a better quality of life, and others, are the major factors predicted to augment the growth of this segment. The neurology segment, on the other hand, is estimated to register the fastest growth rate during the forecast period.
On the basis of end-uses, the industry has been further categorized into hospitals & clinics, Ambulatory Surgical Centers (ASCs), academics and research institutes, and others. The hospitals & clinics end-use segment dominated the industry in 2022 and accounted for the maximum share of more than 32.40% of the overall revenue. The number of surgeries performed in hospitals is higher than in any other healthcare facility on account of the availability of hospitals for primary care in several developing countries and favorable reimbursement scenarios.
Increasing usage of microsurgery equipment in hospital settings for several surgical procedures is estimated to drive segment growth. On the other hand, the ASCs end-use segment is projected to register the fastest growth rate during the forecast period. An increase in the preference for same-day surgery due to benefits, such as a reduction in momentous cost savings & wait times, is the key factor that is expected to augment the demand for microsurgery equipment in ASCs. This, in turn, is expected to aid in the growth of the ASC segment.
North America dominated the global industry in 2022 and 35.35% of the overall revenue. This was owing to the presence of major market players in the U.S. along with the high incidence of chronic & lifestyle-associated diseases. In addition, manufacturers are focusing on the commercialization, development, and distribution of advanced products including microsurgery equipment, which will help cater to the need of healthcare professionals and surgeons. The Europe region accounted for the second-highest revenue share in 2022 and is expected to grow at a substantial CAGR during the forecast period.
The growth is driven by a rise in the elderly population, who have increasingly prevalent chronic disorders-associated problems. The market has seen minimal innovation from the existing players, resulting in the entry of new independent companies providing competitively priced high-quality products. The APAC region is estimated to register the fastest CAGR from 2023 to 2030 due to increasing disposable income, higher GDP growth, and rising access to healthcare. However, lower value contribution due to lower product pricing may restrain the market growth.
Key companies operating in the industry are adopting various business strategies, such as mergers & acquisitions, partnerships & collaboration, and product launches & approvals to maintain a strong industry position. For instance, Haag-Streit declared that from now onwards it will focus its business on surgical microscopes in ophthalmology, and discontinue its surgical product portfolio in spine surgery, ENT, plastic-reconstructive surgery, and neurosurgery. Some of the key players in the global microsurgery market are:
HAAG-STREIT GROUP
Olympus Corp.
Leica Microsystems
B. Braun Melsungen Inc.
Accurate Surgical & Scientific Instruments Corp.
Surtex Instruments Ltd.
Scanlan International
Carl Zeiss AG
KLS Martin Group
Topcon Corp.
Integra LifeSciences
Report Attribute |
Details |
Market size value in 2023 |
USD 2.3 billion |
Revenue forecast in 2030 |
USD 3.3 billion |
Growth rate |
CAGR of 5.5% from 2023 to 2030 |
Base year for estimation |
2022 |
Historical data |
2018 - 2021 |
Forecast period |
2023 - 2030 |
Quantitative units |
Revenue in USD million/billion and CAGR from 2023 to 2030 |
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors & trends |
Segments covered |
Equipment, procedure, application, end-use, region |
Regional scope |
North America; Europe; Asia Pacific; Latin America; MEA |
Country scope |
U.S.; Canada; U.K.; Germany; France; Italy; Spain; Norway; Sweden; Denmark; Japan; China; India; South Korea; Australia; Thailand; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; Kuwait; UAE |
Key companies profiled |
HAAG-STREIT GROUP; Olympus Corp.; Leica Microsystems; B. Braun Melsungen Inc.; Accurate Surgical & Scientific Instruments Corp.; Surtex Instruments Ltd.; Scanlan International; Carl Zeiss AG; KLS Martin Group; Topcon Corp.; Integra LifeSciences |
Customization scope |
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional, and segment scope |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global microsurgery market report on the basis of equipment, procedure, application, end-use, and region:
Equipment Outlook (Revenue, USD Million, 2018 - 2030)
Operating Microscopes
Micro Sutures
Micro Forceps
Microsurgery Needle Holder
Others
Procedure Outlook (Revenue, USD Million, 2018 - 2030)
Transplantation
Suture and Grafting
Free Tissue Transfer
Others
Application Outlook (Revenue, USD Million, 2018 - 2030)
Orthopedic
Neurology
Gynecological & Urological Microsurgery
Ophthalmic
Plastic & Reconstructive
Oncology
Others
End-use Outlook (Revenue, USD Million, 2018 - 2030)
Hospitals & Clinics
Ambulatory Surgical Centers
Academics and Research Institutes
Others
Regional Outlook (Revenue, USD Million, 2018 - 2030)
North America
U.S.
Canada
Europe
Germany
U.K.
France
Italy
Spain
Norway
Denmark
Sweden
Asia Pacific
Japan
China
India
Australia
South Korea
Thailand
Latin America
Brazil
Mexico
Argentina
MEA
South Africa
Saudi Arabia
UAE
Kuwait
b. North America dominated the microsurgery market with a share of 35.4 % in 2022. This is attributable to the rising prevalence of chronic diseases and rising volume of surgeries is anticipated to surge the demand for microsurgery equipment.
b. Some key players operating in the microsurgery market include HAAG-STREIT GROUP, Olympus Corporation, Leica Microsystems, B.Braun Melsungen Inc., Accurate Surgical & Scientific Instruments Corporation, Surtex Instruments Limited, Scanlan International, Carl Zeiss AG, KLS Martin Group, Topcon Corporation, and Integra LifeSciences.
b. Key factors that are driving the microsurgery market growth include the increasing number of surgeries globally, the growing geriatric population base, and increasing healthcare spending.
b. The global microsurgery market size was estimated at USD 2.2 billion in 2022 and is expected to reach USD 2.3 billion in 2023
b. The global microsurgery market is expected to grow at a compound annual growth rate of 5.5% from 2023 to 2030 to reach USD 3.3 billion by 2030.
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