The main factors driving this market's growth are increasing prevalence of chronic diseases, advancing technology in surgical procedures, and increasing geriatric population.
Market Size – USD 1.21 billion in 2018, Market Growth - CAGR of 6.6%, Market Trends –Increasing prevalence of chronic diseases, advance in technology for surgical procedures, and increasing geriatric population.
NEW YORK, May 08, 2019 (GLOBE NEWSWIRE) -- The Microsurgery Market is forecast to grow from USD 1.21 billion in 2018 to USD 2.06 billion by 2026, at a CAGR of 6.6%, during the forecast period. The main factors driving this market's growth are increasing prevalence of chronic diseases, advance in technology for surgical procedures, and increasing geriatric population.
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With the help of advanced medical equipment and devices, rapid technological advancement helps the development of the healthcare sector by introducing different types of operating techniques. Microsurgery is performed on delicate parts of the body, such as soft tissue, cornea, retina, arteries, veins and others, combined with specialized precision tools, and advanced diploscopes.
Free transfer of tissue is a reconstructive operation using microsurgery. A region of "donor" tissue that can be isolated on a feeding artery and vein is selected; this tissue is usually a composite of several types of tissue (e.g., skin, muscle, fat, bone). Common donor regions include the muscle of the rectus abdominis, muscle of the latissimus dorsi, fibula, bone and skin of the radial forearm, and lateral skin of the arm.
Further key findings from the report suggest
- The Microsurgery Market is forecasted to grow from USD 1.21 billion in 2018 to USD 2.06 billion by 2026, at a CAGR of 6.6%, during the forecast period. The main factors driving this market's growth are increasing prevalence of chronic diseases, advancing technology in surgical procedures, and increasing geriatric population.
- Based on application, the market is segmented into neurosurgery, gynecological surgery, ophthalmology, general surgery, plastic surgery, oncology, oral surgery, orthopedic surgery, pediatric surgery. The market for general surgery is expected to hold the largest market share in 2026. It is expected to reach USD 515.6 Million in 2026, at a CAGR of 8.3% during the forecast period.
- Based on procedure, the market is segmented into free tissue transfer, replantation, transplantation and vascular anastomoses. The market for transplantation is expected to hold the largest market share in 2026. It is expected to reach USD 968.2 Million in 2026, at a CAGR of 7.1% during the forecast period. Increasing demand for transplant products such as tissue products, immunosuppressant, and solutions for organ preservation is a major factor expected during the forecast period to boost market growth. Thus, many companies in biotechnology and medical devices have begun to focus on developing advanced transplant products for organ failure management.
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- Based on end-users, the market is segmented into hospitals, ambulatory surgical centers, research institutes and others. In 2018, hospitals dominated the market and are expected to reach USD 1.65 Billion in 2026, at a CAGR of 7.4% during the forecast period. This is mainly attributed to the large number of microsurgery procedures performed in hospitals globally.
- Based on region, the market is segmented into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa. The market for Asia-Pacific (APAC) is expected to grow at the highest CAGR of 7.5% during the forecast period.
- The major players in the market are Carl Zeiss Meditec AG (Germany), Synovis Micro Companies Alliance, Inc. (US), Hu-Friedy Mfg. Co., LLC (US), Microsurgical Technology (US), Peter Lazic GmbH (Germany), Microsurgery Instruments, Inc. (US), Accurate Surgical & Scientific Instruments Corp. (US), KLS Martin Group (Germany), Beaver-Visitec International (US), Scanlan International (US) and others.
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Segments covered in the report:
This report forecasts volume and revenue growth at a global, regional & country level, and provides an analysis on the industry trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented the market on the basis of procedures, application, end-user and regional analysis.
Procedures (Revenue, USD Million; 2016-2026)
- Free Tissue Transfer
- Replantation
- Transplantation
- Vascular Anastomoses
Application (Revenue, USD Million; 2016-2026)
- Neurosurgery
- Ophthalmology
- Gynecological Surgery
- Plastic Surgery
- Oral Surgery
- General Surgery
- Oncology
- Orthopedic Surgery
End User (Revenue, USD Million; 2016-2026)
- Hospitals and clinics
- Ambulatory surgical centers
- Research Institutes
- Others
Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2026)
- North America
- U.S.
- Europe
- UK
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
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