A Markets and Markets report found the surgical/operating microscopes market is likely to experience significant growth from 2016 through 2021, Yahoo! Finance reports.
Here are five things to know:
1. The market totaled $508.1 million last year.
2. The report expects the market to hit $915.6 million by 2021, increasing at a compound annual growth rate of 12.5 percent.
3. Factors spurring market growth include increased use of fluorescence image-guided surgery, a higher demand for minimally invasive procedures, more surgeries, technological and facility advancements as well as customized microscope solutions.
4. The microscopes' escalated price and the U.S. excise tax are impeding market growth. High custom duties on medical devices may also hinder expansion.
5. The neuro and spine surgery segment held the largest market share in 2016.
