[250 pages Report] Medical Loupes Market to Grow at 5.4% CAGR through 2029. FMI, in its new study, states that sales of medical loupes will value around US$ 300 Mn in 2020. Conventionally, healthcare industry has been highly regulated and is slower to embrace innovative technologies. However, over last decade, a broad array of novel and state-of-the-art products have made their way into the industry. Technologies such as artificial intelligence (AI), machine learning (ML) and augmented reality (AR) will portray instrumental roles in tandem with clinical health IT applications in coming years.
As the landscape of medical technology (Medtech) steps up, healthcare facilities have to stay prepared for upcoming innovations. Based on these trends of surgical applications.
The medical loupes market is showing considerable amount of growth in healthcare sector due to inclination towards accurate angle measuring tools and rising demand for efficient management. According to new research market for medical loupes, online market for medical loupes is set to grow at a CAGR of 6% over the forecast period (2020-2030).Adoption of different lens is projected to grow with an impressive growth rate of over the forecast period with installation of system in healthcare industries.
“A significant growth with increasing demand for budget-friendly yet efficient management solutions in the healthcare sector will be noticed to automatize the orders based on the percentage of usage, quality and services,” says the FMI Analyst.
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Medical Loupes Market – Important Highlights
- This market will surpass US$ 300 million through 2030.
- North America is the most lucrative region of this market, it accounts for 40% of the revenue.
- There has been an increase in demand and supply for flip up medical loupes due to flexibility and angle customization.
- Adoption of medical loupes finds employment in dentistry applications.
Medical Loupes Market – Driving Factors
- Rising demands in healthcare verticals to maintain accuracy to assist medical professionals in surgical procedures, dominates the market scenario.
- Flip up medical loupes finds wide use due to cost-efficiency and facilities like angle customization, declination of flips and flexibility.
- Adoption of medical loupes finds employment in dentistry applications and covers almost 40% of the market share.
- Galilean lens loupes and prismatic lens loupes are comfortable to wear and can be used conveniently for magnification, therefore, escalating demand.
Medical Loupes Market– Key Restraints
- Budget management is a challenge because high-quality software is usually not affordable.
- Adopting and angle setting with the perfect accuracy is still a major challenge and it might hinder growth.
Anticipated Market Impact by Coronavirus Outbreak
It’s crystal clear that the pandemic has taken a toll on the market system. Social distancing measures and strict lockdowns have adversely affected the productions and disrupted operations of the end-use companies across the universe. Though the healthcare industry is experiencing an increasing demand for prismatic lens but product/service development work is at halt due to lockdown. This has definitely accounted for a decline in revenue of the medical loupes. Though the market will experience comfort as the lockdown releases yet the losses can continue to hamper production.
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Competition Landscape
Key players in the market include Carl Zeiss Meditec AG, Rose Micro Solutions, L.A. Lens, ErgonoptiX, NORTH-SOUTHERN ELECTRONICS LIMITED, and Designs for Vision, Inc., Enova Illumination, SurgiTel, Den-Mat Holdings, and LLC. The companies are focussing on investment plans to improve the development of new products with better features. Apart from unique innovations, leaders are also working on acquisition of regional companies to strengthen global presence.
Taking into consideration, key companies are planning to expand the portfolio of portable devices. New players might find it difficult to make decisions due to limited resources but they can witness steady growth.
More on the report
FMI market research report presents in-depth insights on medical loupes market. The foremost objective focusses on demand generators, and technological advancements in the market including instrument precision and services. The report brings to our notice about the leading manufacturers who are involved in the market, along with their detailed profiles.
Essential and up-to-date data information related to key market players are principally engaged in the production of portable devices, have been brought with the help of a detailed dashboard view.
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