Microsurgical instruments are specially designed surgical tools used to perform surgeries on small bodily tissues with greater precision and accuracy. Factors include the advantages of microsurgery over traditional surgery, the rising number of surgeries among the elderly population, the growing popularity of plastic and reconstructive surgeries, and the rising incidence of chronic diseases and cancer are driving the market growth.

The global microsurgical instruments market was worth $1.87 billion in 2021 and is expected to be worth $2.9 billion by 2030, representing a 5.2% CAGR from 2021 to 2030. 

Microsurgical instruments market dynamics: growth drivers, restraints, and opportunity

  • One of the major factors that boost the growth of the microsurgical instruments market is the growing geriatric population, followed by an increase in the incidence of target conditions. Other indirect microsurgical instruments market growth factors include rising R&D expenditure for product innovations and rising personal disposable income. Rising traffic accidents, particularly in developing economies, will create more valuable microsurgical instruments market growth opportunities. 
  • High costs associated with microsurgery and microsurgical instruments in general, on the contrary side, will act as a market growth restraint. The lack of professional and medical expertise in developing and developed economies will further slow the growth rate of the microsurgical instruments market. Unfavorable reimbursement policies, particularly in developing economies, will cause additional obstacles to the growth of the microsurgical instruments market.

An emerging trend is the use of robotic surgery to perform surgeries that are a combination of micro, minimally invasive, and traditional surgical techniques, significantly reducing patient recovery time post-op. As a result, a company that invests in microsurgical instruments should consider R&D to integrate with robotic surgical instruments. 

Key market trends

Due to factors such as growing reconstructive and plastic surgery and increasing adoption of minimally invasive procedures, the plastic and the reconstructive microsurgery segment is expected to hold the largest share in this market segment.

According to the American Society of Plastic Surgeons, Plastic Surgery Statistics Report 2020, 53,095 ear surgery procedures were performed worldwide in 2020, representing a 46% increase from 36,295 procedures in 2000. According to the same source, 6,878,486 reconstructive procedures were performed globally in 2020, up from 6,652,591 procedures in 2019. Furthermore, the reconstructive procedures include 68,915 procedures for birth defects, 2020 procedures for hand surgery, and 263,643 procedures for scar revision.

Furthermore, increased company activities for product development and adoption of various business strategies such as partnerships and agreements are expected to boost market growth over the forecast period. MMI SpA, for example, will launch the Symani Surgical System in Europe in October 2020 for open microsurgical procedures. The Symani Surgical System combines motion scaling and tremor reduction benefits with the smallest wristed instrumentation. As a result, the mentioned factors are expected to boost market growth during the forecast period.

Market segmentation

The microsurgical instruments market is divided into three segments: type, microsurgery, and end user. 

  • Operating microscopes, micro sutures, non-absorbable micro sutures, absorbable micro sutures, micro forceps, microsurgery needle holders, micro scissors, and other microsurgical instruments comprise the market for microsurgical instruments.
  • The microsurgical instruments market is divided into orthopedic microsurgeries, neurological microsurgeries, ENT microsurgeries, ophthalmic microsurgeries, dental microsurgeries, gynecological and urological microsurgeries, plastic and reconstructive microsurgeries, and other microsurgeries based on the type of microsurgery.
  • The microsurgical instruments market is divided into hospitals, ambulatory surgery centers, academic and research institutions, and others based on the end user.

Key market players

Bausch Health Companies Inc., B. Braun Melsungen AG, BIOTRONIK SE & Co KG, Medtronic, BD, Boston Scientific Corporation, Abbott, Cardinal Health, Bayer AG, Edwards Lifesciences Corporation., Koninklijke Philips N.V., ZEISS, Novartis AG, Danaher., BVI, Olympus Corporation, TOPCON CORPORATION, KLS Martin Group are the major players in the microsurgical instruments market.

The rising prevalence of chronic diseases globally, increased focus on technological advancements in medical device manufacturing, and rising expenditure on healthcare infrastructure development, especially for developing countries, are the major factors driving the growth of the microsurgical instruments market.