Major prevalence of skin and breast cancer is the key factor driving market growth
The global microsurgery market size is expected to reach USD 3.38 Billion in 2030 and register a revenue CAGR of 6.9% over the forecast period, according to the latest report by Reports and Data. Among some of the major factors driving market revenue growth include major prevalence of breast cancer and skin cancer, increasing global geriatric population, and higher preference for minimally invasive surgical procedures. Microsurgery is a type of surgical technique that allows an operation or surgery to be performed in a minimally invasive manner. Microsurgery is performed using high powered microscopes and miniaturized surgical instruments that allow smaller incisions and sutures, among others.
This technique is applied in a wide range of medical specialties such as oral and maxillofacial surgery, general surgery, orthopedic surgery, ophthalmology, gynecological surgery, neurosurgery, otolaryngology, podiatric surgery, pediatric surgery, and plastic surgery. General surgery segment accounted for largest revenue share in the global market in 2020. This can be attributed to increasing use of microsurgery procedures in gallbladder, appendix, and other general surgeries, and ongoing advancements of microsurgery procedures. Increasing investment by private investors in development of more advanced microsurgical equipment and advent of surgical robots are expected to boost revenue growth of the global microsurgery market going ahead.
Key companies profiled in the report include
Carl Zeiss AG, Olympus Corporation, Baxter International, Inc., KLS Martin Group, Tisurg Medical Instruments Co., Ltd., Aros Surgical Instruments Corporation, Microsurgical Technology, Inc., Peter Lazic Gmbh, Microsurgery Instruments, Inc., and Aesculap, Inc.
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The report is an investigative study that determines market growth and market scope on the basis of market trends, consumer behavior shifts, consumption and production patterns, product portfolio offered by the market, growth rate, drivers and constraints, financial positions, and existing challenges and limitations of the Microsurgery market.
The report discusses in detail the global production capacity, demand and supply ratio, market dynamics, and comprehensive analysis of the competitive landscape. It provides an industry-wide analysis of the market share of each players along with their business portfolio, production and manufacturing capacity, product portfolio, business expansion plans, financial standing, and strategic alliances such as mergers and acquisitions, joint ventures, and collaborations, among others.
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The regional bifurcation of the market analyzes key market segments such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report discusses in detail the market growth, market size, revenue growth, market share, production and consumption, demand and supply, current and emerging trends, and technological developments in each region.
The key geographical regions analyzed in the market report are:
- North America (U.S.A., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- AsiaPacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Microsurgery Segmentation based on Types:
Procedure Outlook (Revenue, USD Billion; 2019–2030)
- Free Flap Tissue Transfer
- Suture and Grafting
- Wound Reconstruction
- Transplantation
- Nerve Repair
End-use Outlook (Revenue, USD Billion; 2019–2030)
- Hospitals and Clinics
- Academic & Government Research Institutions
- Ambulatory Surgical Centers
Application Outlook (Revenue, USD Billion; 2019–2030)
- General Surgery
- Oncology
- Neurology
- Ophthalmology
- Orthopedic Surgery
- Plastic & Reconstructive Surgery
- Gynecology Surgery
- Others
Equipment Outlook (Revenue, USD Billion; 2019–2030)
- Operating Microscopes
- Microsurgery Forceps & Needle Holders
- Microsutures
Some Key Highlights From the Report:
- In November 2020, MMI Micro launched the world’s smallest wristed surgical instruments. These are designed to overcome complexities of free-flap reconstructions, replantation, congenital malformations, peripheral nerve repairs, and lymphatic surgery.
- Transplantation segment accounted for largest revenue share in the global market in 2020. This can be attributed to increasing number of heart and kidney transplant surgeries performed and rising awareness regarding the benefits of transplantation processes such as better quality of life, increased energy levels, increased lifespan, and others.
- North America accounted for significantly larger revenue share in the global market in 2020. Rising focus on development of more advanced surgical procedures and robust presence of advanced healthcare facilities are some major factors driving revenue growth of the market in this region.
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