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Reports And Data
Major prevalence of skin and breast cancer is the key factor driving market growth
NEW YORK, NY, UNITED STATES, November 3, 2021 /EINPresswire.com/ — The global microsurgery market size is expected to reach USD 3.79 Billion in 2028 and register a revenue CAGR of 6.8% 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.
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Some of the key companies operating in the global Microsurgery market are:
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.
The pharma and healthcare sector is rapidly growing in the recent past and is expected to register substantial revenue share over the forecast period of 2028. Factors such as technological developments in the healthcare and pharma field, improving healthcare infrastructure and increasing healthcare expenditure are key factors boosting market growth. The market dynamics have completely changed after the outbreak of COVID-19 pandemic. Increasing prevalence of various chronic diseases, high occurrence of diabetes, cancer and cardiovascular disorders and rising number of accidents across the globe are fueling growth of the global Microsurgery market. In addition, increasing investments in research and development activities, high adoption of personalized medicines and ongoing research on drug discovery are further boosting market growth.
The report is curated using extensive primary and secondary research which is thoroughly evaluated by industry experts and professionals. Advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, and investment return analysis are used to obtain the report data. This data is represented through various diagrams, graphs, tables, and charts to help the reader understand the market dynamics accurately. The report also provides information about each market player, its global position, business expansion plan financial status, license agreement, and product and services portfolio.
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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.
For the purpose of this report, Reports and Data has segmented the microsurgery market based on procedure, application, end-use, and region:
Procedure Outlook (Revenue, USD Billion; 2018-2028)
• Free Tissue Transfer
• Vascular Anastomoses
Application Outlook (Revenue, USD Billion; 2018-2028)
• General Surgery
• Reconstructive & Plastic Surgery
End-Use Outlook (Revenue, USD Billion; 2018-2028)
• Hospitals & Clinics
• Ambulatory Surgical Centers
• Research Institutes
• North America (U.S., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (India, China, Japan, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
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