Wilmington, Delaware, United States, May 12, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global medical loupes market was estimated at a market value of US$ 338.9 million in 2022. During the forecast years of 2023 to 2031, the market is expected to grow at a rate of 5.4% CAGR and finally reach US$ 570.6 million by the end of 2031.
The rise in minimally invasive procedures worldwide is one of the key factors anticipated to propel the growth of the medical loupes market during the forecast period. It is predicted that the market for medical loupes would expand more slowly as more procedures take place that need extensive use of medical equipment.
Further potential prospects for the expansion of the medical loupes market in the upcoming years will be provided by the rise in the significance of research and development, which will enhance a competitive edge in the market.
Better visual clarity and improved magnification capabilities are offered by modern medical loupes. They have LED lights as well as filters built in for enhanced vision and precision during medical operations.
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Key suppliers are spending heavily in R&D of new products in order to widen their client base and boost their medical loupes share of the marketplace. They are creating items that provide healthcare workers improved comfort and usability by having sturdy ergonomic designs and adjustable features. These items are portable, versatile, and lightweight. They also meet each user's unique demands.
Insufficient use of medical loupe items due to a lack of awareness is also anticipated to restrain market expansion for medical loupes throughout the forecast period. The market for medical loupes may face more difficulties in the near future due to the growing popularity of surgical microscopes.
Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 338.9 Mn | |
| Estimated Value | US$ 570.6 Mn | |
| Growth Rate - CAGR | 5.4% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 180 Pages | |
| Market Segmentation | By Product Type, By Lens Type, By Magnification, By Price, By Application, By End-use, By Distribution Channel | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | Admetec Ltd., Carl Zeiss Meditec AG, Designs for Vision, Inc., Enova Illumination Inc., Halma plc, Heine Optotechnik GmbH & Co. KG, Neitz Instruments Co., Ltd., Orascoptic, SheerVision Inc., Univet S.r.l. | |
Key Findings of Market Report
- By lens type, the Galilean lens will occupy the dominant share.
- By magnification, below 4.0x will take up more than 30% share of the global market in 2022.
- The low-priced segment will gain traction during the forecast period.
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The Global Market for Medical Loupes: Market Trends
- The Galilean lens segment is expected to dominate the market during the forecast period. The accuracy and precision of surgical procedures are enhanced with Galilean lenses. These lenses amplify the picture by combining positive and negative lenses. They are frequently cheaper and lighter than prismatic lenses.
- Concave eyepiece and convex objective lenses are the two lenses found in Galilean lenses. These lenses give an adequate field width and greater field depth, which assist create a picture that is clearer than one created by a single lens.
Global Medical Loupes Market: Regional Outlook
- The engagement of stakeholders has led to North America dominating the medical loupes business. The regional medical loupes market will experience further growth as a result of local medtech industry output that is ultimately exported each year during the anticipated term.
- An increase in the elderly population and the need for medical services would likely accelerate the growth of the medical loupes market in these areas from 2023 to 2031.
- Europe is predicted to have considerable growth in the medical loupes market till 2031. In the upcoming years, it is also projected that the region's high-quality, reasonably priced healthcare system and robust medical tourism sector would fuel the market for medical loupes.
Global Medical Loupes Market: Key Players
Some of the key players in the global medical loupes market are:
- Admetec Ltd.
- Carl Zeiss Meditec AG
- Designs for Vision, Inc.
- Enova Illumination Inc.
- Halma plc
- Heine Optotechnik GmbH & Co. KG
- Neitz Instruments Co., Ltd.
- Orascoptic
- SheerVision Inc.
- Univet S.r.l.
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Some developments by the key players in the global market for medical loupes are:
- SurgiTel provided 9 partner service programs in October 2020, including free evaluation, declination angle modification, customised nose pad, monthly educational publication, free lecture, hands-on workshop support, and equipment loans for mission trips and charitable programs. These programs were designed to assist doctors in educating patients about ophthalmic loupes and their benefits.
- Carl Zeiss Meditec AG increased its foothold in France by establishing a new factory in La Rochelle, Nouvelle-Aquitaine, in March 2023. The new structure seeks to manufacture supplies for ophthalmology. The new structure will be an addition to the current facility in La Rochelle and is designed to provide office and production space for the production of ophthalmic consumables.
Global Medical Loupes Market Segmentation
- By Product Type
- Flip-up
- Through-the-Lens
- Headband
- Flip-up
- By Lens Type
- Galilean
- Prismatic
- By Magnification
- Below 4.0x
- 4.0 - 8.0x
- Above 8.0x
- Below 4.0x
- By Price
- Low (Below US$ 500)
- Medium (US$ 500 - US$ 1,500)
- High (Above US$ 1,500)
- By Application
- Dentistry
- Surgical
- Others (Hygienists, Veterinary, etc.)
- By End-use
- Hospital
- Dental Clinic
- Medical Institute
- Others
- By Distribution Channel
- Direct
- Indirect
- Direct
By Region:
- North America
- Latin America
- Europe
- Asia-Pacific
- Middle East and Africa
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