In 2022, it is anticipated that the worldwide medical loupes market will generate total sales of US$324.9 Mn. Sales of digital surgical loupes are anticipated to grow at a 5.6 percent CAGR, with a market value of US$ 475.4 Mn in 2029 as a result of rising demand from surgical and dental offices.
The Yearly Medical Loupes Tracker from Future Market Insights (FMI) predicts that the global market for medical loupes will experience a drop in Q1 and Q2 of 2020 before picking up again in 2021.
As supply chain disruptions affected the revenue pool in the early months of 2020 and expected product shipments delayed the market in the middle of the year, the industry experienced a brief setback. On the other hand, FMI anticipates that as manufacturers and consumers continue to make technology investments, medical loupe shipment volumes will increase significantly with a CAGR of 5.6 percent from 2022 through 2029.
Medical Loupes Market Size Study
From 2022 to 2029, medical loupe sales will increase at a CAGR of 5.6 percent. Flip-up loupes continue to command the highest revenue share (approximately 60%). Given their high level of magnification, low weight, and simplicity of use, Galilean lenses will be used in around six out of ten medical loupes sold. Through 2029, surgical treatments will continue to use a lot of medical loupes. For the ensuing ten years, Markey players will be fixated on offline channels for the selling of medical loupes. North American markets will generate significant sales, and East and South Asian markets will expand rapidly.
“The medical device sector is constantly in need of technologically sophisticated items. Medical technology that is secure and cutting-edge helps patients pay less for care. Regarding magnification power, product weight, and high-powered optics, medical loupes are developing more and more. Market players will be able to increase revenues, increase margins, and develop new revenue streams with creative business models thanks to technology-enabled transformation, according to an analyst at FMI.
COVID-19 Impact on Medical Loupes Market
The COVID-19 epidemic has had a detrimental effect on the market for medical loupes since it has forced delays in several cosmetic treatments, including liposuction surgery, breast implantation, and elective dentistry work.
Hospitals have postponed or canceled some elective procedures, especially those deemed non-urgent or non-essential, to make room for people receiving COVID-19 treatment.
According to recent predictions, 15–30% of elective procedures will be postponed in March 2020. Bariatric surgery, implants, and cosmetic procedures will continue to be particularly vulnerable due to their non-urgent nature and ability to be postponed without substantially affecting the quality of life.
That said, surgeries will return to pre-crisis rates by Q4 2020, with total numbers returning to pre-crisis levels by Q1 2022.
Medical Loupes Market – Competitive Intelligence
The market for medical loupes is pretty consolidated globally, and the major companies are putting a lot of effort into creating cutting-edge products to expand both their regional reach and product line. Currently, market participants are spending money on R&D projects to develop cutting-edge technology. One example is
Dental surgeries are now significantly simpler than they would otherwise be thanks to Schultz Optical Co. Inc.’s introduction of dental surgical loupes with a 25 percent bigger seeing field than competitors, up to 5.5x magnification, and lightweight design.
Through-the-lens (TTL) and front-lens-mounted (FLM) bespoke loupes are two of the varieties that Surtitles has created. Declination angle and field shape can be modified on a per-user basis using customized FLM loupes.
Medical Loupes Market By Category
- Through The Lens (TTL)
- Flip Up Loupe
- North America
- Latin America
- Eastern Europe
- Western Europe
- the Asia Pacific excluding China & Japan
- Middle East & Africa