Microsurgery Market Research Report - Global Forecast till 2027

Global Microsurgery  Market: Information by Procedure (Transplantation, Replantation, Free Flap Tissue Transfer and Vascular Anastomoses), Application (General Surgery, Neurosurgery, Ophthalmology, Reconstructive & Plastic Surgery and Oncology), Equipment (Microsurgical Instruments, Microscope and Suture Materials), End User (Hospitals & Clinics, Ambulatory Surgical Centers and Research Organizations) and Region (Americas, Europe, Asia-Pacific (APAC) and Middle East & Africa) - Forecast till 2027

ID: MRFR/MED/2870-CR | July 2019 | Region: Global | 161 Pages         

Microsurgery Market

The Microsurgery Market is estimated to grow to USD 2.4 billion at a CAGR of 5.6% from 2022-2030

Segmentation

By Procedure Transplantation Replantation Free Flap Tissue Transfer And Vascular Anastomoses
By Application General Surgery Neurosurgery Ophthalmology Reconstructive & Plastic Surgery And Oncology
By Equipment Microsurgical Instruments Microscope And Suture Materials
By End User Hospitals & Clinics Ambulatory Surgical Centers And Research Organizations

Key Players

  • S&T AG - Austria
  • Synovis Micro Companies AllianceInc- USA
  • Stryker Corporation - USA
  • Ethicon Inc - USA
  • Novartis - Sweden
  • Smith and Nephew - USA
  • Zimmer Biomet Holdings - USA
  • Medtronic PLC - USA
  • Carl Zeiss Meditech AG - Germany
  • Peter Lazic GmBH - Germany
  • Microsurgery Instruments

Drivers

  • Increased purchasing power and the desire to look and feel young
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Market overview


The global microsurgical instruments market is expected to grow at a CAGR of 6.7% until the end of 2023. It is expected to be worth US$2688.0 million by then.


Microsurgery is a well-known and popular type of medical surgery. Doctors used to use these procedures and techniques for treating skin conditions. However, their use and applications have since expanded.


COVID-19 analysis


The global microsurgery market has been negatively impacted since COVID-19 first appeared on the global scene in March of 2020.


The global microsurgery market began to see a marked decline in the overall number of surgeries being performed. Many people were postponing non-essential microsurgical procedures because they did not want to be exposed to the
COVID-19 virus.

Market Dynamics
Drivers


Microsurgery is increasingly being used for more than cosmetic plastic surgery. It is being used to treat many more serious conditions. This is especially true as the incidence of breast cancer, melanoma, and non-melanoma skin cancer increase. Other diseases that require microsurgical procedures include barrette’s esophagus and prostate cancer.


Many people in developing and developed nations are jumping on the cosmetic surgery bandwagon. The desire is largely driven by increased purchasing power and the desire to look and feel young. Many people want to look like their favorite celebrities. They also want to imitate their marked facial features. This is what is driving the global microsurgery market.


Opportunities


There are many opportunities for the global microsurgery market. One of these is the fact that these conditions are creeping into developing countries. Indeed, as disposable incomes rise and as the middle classes become richer in these nations, demand for these types of microsurgical techniques is exploding.


People in developing countries are no longer satisfied with the prospect of aging gracefully like their parents and grandparents were. They want to try to cheat nature and turn back the clock. There are medicines that help with these but many of these are in the clinical stage and they are very expensive. Besides, their effectiveness in terms of slowing down, stopping, or even reversing the aging process has not been scientifically proven.


Until these medicines are proven effective in stopping aging, people will continue to explore different cosmetic surgery techniques and operations to try to look younger. But cosmetic surgery does not stop there. Many people choose cosmetic surgery to enhance their looks. For example, women get breast implants and breast enhancement surgery to look and feel sexier. These procedures are expensive and are rapidly becoming more popular. This is creating huge opportunities for the global cosmetic surgery market.


Restraints


Microsurgical procedures are expensive and complex. Therefore, only the wealthy and educated with good insurance can afford to have them done. Also, some people have unique anatomies that make microsurgical procedures difficult if not impossible. 


Another key restraint is the fact that many insurance plans do not cover most types of cosmetic surgery. They consider these surgical procedures to be elective and therefore not necessary.


Challenges


Microsurgery is not perfect even when these procedures are performed by educated, experienced, and talented surgeons. Some many side effects and complications can and do emerge after procedures. This, when combined with its higher costs, presents a formidable challenge to growth in the global microsurgery market.


This is expected to be a challenge until the cost of microsurgical procedures begins to decrease and until more and more people around the world are educated on the benefits of these procedures.


Getting insurance to pay for most types of cosmetic surgery procedures will also be a challenge. Until this happens, the global cosmetic surgery market will not reach its full potential.


Cumulative-growth analysis


The short-term CAGR may not be high, but this is a market with high price points. Therefore, the global microsurgery market is expected to make money, at least in the near term.


This presents doctors with many opportunities to make money. It is also attracting the most talented doctors. This is helping to open new frontiers in cosmetic surgery procedures.


Technology analysis


Companies in this industry are investing billions in research and development. This allows them to constantly bring newer and more effective technologies, techniques, and procedures to market. One of these is the gonadectomy TrabEx device. It uses dual blade technology to connect to the phaco system for better breathing and drainage.


Segment overview



  • By procedure


The global microsurgery market can be segmented into the following procedures:  transplant, reimplants, free-flap tissue transfer, and vascular anastomosis.



  • By application


This includes general surgery, neurosurgery, reconstructive and plastic surgery, oncology, ophthalmology, and many others.



  • By equipment


The microsurgery instruments include microsurgical instruments, microscope, and suture materials.



  • By end user


The main players in this segment are hospitals and clinics, ambulatory surgical centers, and research organizations. The ambulatory surgical centers alone generated US$420.4 million in 2017.


Regional analysis


There are four main regions for the global microsurgery market. They are the Americas, Europe, the Asia-Pacific region, and the Middle East and North Africa (MENA.)


The North and South American continents currently dominate the global microsurgery market. This trend is expected to continue until at least the end of 2023. What drives growth in this region is a rapidly aging population. This is especially true in the United States of America and Canada. More and more people in these nations are experiencing diseases like cataracts and various forms of arthritis.


There is more of a demand for cosmetic plastic surgery procedures as the general population in North America becomes more conscious of their appearances.


The European Union has the second-highest microsurgery market size. Once again, the populations in these nations are rapidly aging. As this happens, they experience more diseases that require microsurgical procedures. These include arthritis. There is also an increased incidence of complications from neurosurgery in Europe. This often requires microsurgical procedures to correct.


Western Europe held 77.37% of the total microsurgery market share in 2017.


The Asia-Pacific region is expected to have the fastest growth rate of all regions. This is attributed to the fact that Japan has a rapidly aging population. Many of these elderlies suffer from diseases like cataracts and various forms of arthritis. These require microsurgical procedures to correct and treat.


There is also the increased prevalence of people with gum and tooth diseases and conditions. Treating these often requires microsurgical procedures. Most of the nations in the Asia-Pacific region are getting richer. Their governments are better able to spend more money on healthcare and they can spend more money on research and development in terms of microsurgical techniques and technologies.


The MENA region has constrained health care systems. The governments there are not pouring millions into research and development in the microsurgical sector. Growth will be steady until the end of 2023, but it is not expected to be phenomenal. Another contributing factor is the lower purchasing power and discretionary incomes in this region. Also, most of the population is still relatively young. It does not suffer from the diseases and conditions that require microsurgical techniques and procedures.


Competitive landscape


This market is competitive. The fact that the procedures have high price points is attracting many companies despite relatively high barriers to entry. There is a lot of money to be made in this market even if the CAGR is modest at best.


Companies are resorting to research and development to develop and launch instruments that will make procedures more effective. They are also engaging in mergers and acquisitions and partnerships to enter new markets.


One major company is the American giant Novartis. It has recently launched NGENUITY 3D Experience. This is designed to make eye and cataract surgery more efficient, more effective, last longer, and be less painless.


List of companies


 



  • S&T AG - Austria

  • Synovis Micro Companies Alliance, Inc., - USA

  • Stryker Corporation - USA

  • Ethicon Inc - USA

  • Novartis - Sweden

  • Smith and Nephew - USA

  • Zimmer Biomet Holdings - USA

  • Medtronic PLC - USA

  • Carl Zeiss Meditech AG - Germany

  • Peter Lazic GmBH - Germany

  • Microsurgery Instruments, Inc - USA

  • Tisurg medical instruments, Co, Ltd - China

  • Microline surgical - the USA

  • Halma PLC - UK

  • AROsurgical Instruments - USA


 


Recent developments


 



  • Stryker announced that the FDA approved its expansion of the Trevo clot receiver drug.

  • Alcon introduced UltraSert.

  • Ethicon Inc launched the knotless suture portfolio.


 


Report overview


The global microsurgical market has been experiencing a CAGR of over 6%. This is expected to continue until at least the end of 2023. Companies are investing heavily in research and development to launch new products and procedures. This helps them stay afloat financially in this hyper-competitive market. Demand for these procedures is growing around the world. This is fueled by an increasingly aging global population that requires these procedures and products.



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 2688.0 million
  CAGR   6.7%
  Base Year   2019
  Forecast Period   2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Procedure, Application, Equipment, End User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   S&T AG - Austria,Synovis Micro Companies Alliance, Inc., - USA, Stryker Corporation - USA, Ethicon Inc - USA, Novartis - Sweden, Smith and Nephew - USA, Zimmer Biomet Holdings - USA, Medtronic PLC - USA, Carl Zeiss Meditech AG - Germany, Peter Lazic GmBH - Germany, Microsurgery Instruments, Tisurg medical instruments, Co, Ltd - China, Microline surgical - the USA, Halma PLC - UK, AROsurgical Instruments
  Key Market Opportunities   Huge opportunities for the global cosmetic surgery
  Key Market Drivers

  • Microsurgery is increasingly being used for more than cosmetic plastic surgery.
  • Increased purchasing power and the desire to look and feel young


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    Frequently Asked Questions (FAQ) :

    Microsurgery market is projected to grow at a 6.70% CAGR between 2020-2027.

    The Americas is expected to dominate the microsurgery market.

    Microsurgery market is predicted to touch USD 2688.0 million by 2023.

    Ambulatory surgical centers will dominate the microsurgery market.

    Complications and high cost of surgery may limit the microsurgery market growth.

    Global Microsurgery Market: Competitive Landscape:


    The prominent players in the global microsurgery market are Carl Zeiss Meditec AG, Tisurg medical instruments Co., and Synovis Micro Companies Alliance, Inc. MicroSurgical Technology, Peter LAZIC GmbH, Microsurgery Instruments, Inc., and others.


    Carl Zeiss Meditec AG is the holds the largest share for the global microsurgery market in 2017. The firm operates through two segments, namely, ophthalmic devices and microsurgery. The ophthalmic devices segment offers ophthalmic surgical microscopes, intraocular lenses, and optical coherence tomography devices for the diagnosis and treatment of numerous eye diseases, such as cataract, glaucoma, and other ophthalmic diseases. The microsurgery segment provides surgical microscopes and instruments for reconstructive surgeries. The company serves ophthalmologists as well as surgeons and physicians in hospitals and outpatient surgical centers. Carl Zeiss Meditec AG operates as a subsidiary of Carl Zeiss AG.


    Tisurg medical instruments Co holds second position in terms of market share in the global Microsurgery market in 2017. The company specializes in the development, production, and distribution of surgical instruments. The company has a product portfolio of more than 2,000 titanium instruments including general instruments, ophthalmic instruments, neurosurgical instruments, thoracic and cardiovascular instruments, microsurgical instruments, and plastic surgery instruments.


    Synovis Micro Companies Alliance, Inc holds third position in terms of market share in the global Microsurgery market in 2017. The company is involved in the manufacturing of surgical devices, which are used in microsurgery and general surgery. Microsurgical products are available in the gem microtray and gem microsuture categories.


    AROSurgical Instruments is involved in the wholesale distribution of medical and other surgical instruments, apparatus, and equipment. The company also distributes the BEAR Micro Vessel Clamps for Canada, the US, and Mexico.


    Peter Lazic GmbH is a family-owned company operating worldwide that develops and produces superior microsurgical instruments for medical technology both under its own brand and for OEM customers. The company is one of the top three manufacturers of aneurysm clip systems worldwide.


    Carl Zeiss Meditec AG and Tisurg medical instruments Co. are the major companies for microsurgery operating on a global scale. The lower market share of Peter Lazic GmbH can be attributed to fewer products offering, as compared to Microsurgical Instruments and other major players. Major players such as F Carl Zeiss Meditec AG, Tisurg medical instruments Co., and Synovis Micro Companies Alliance, Inc. increase the level of competition in the global microsurgery market, as these companies are expected to expand their product portfolios, with the help of other business units, to increase their market share.