Posterior Microsurgical Instruments Market – Driver
Organizing conferences and meetings by market players regarding posterior microsurgical are creating awareness amongst surgeons and patients, which is expected to drive growth of the market. For instance, Mercian Surgical Supply Co Ltd., company of U.K, is planning to exhibit a meeting for British Association of Spine Surgeons at Brighton, U.K., in April 2019, to discuss latest innovations in spinal surgeries.
Posterior Microsurgical Instruments Market – Restraint
The growth of global posterior microsurgical instruments market is depicted by the presence of various provincial and local vendors worldwide. This is creating huge competition for established players, as local vendors are providing such instruments at less cost, and thus hampering growth of the posterior microsurgical instruments market. Furthermore, according to a Sterilization and Infection Control Blog, October 2016, various surgical tools may remain inside the body post-surgery, causing harmful consequences among patients therefore, conducting further procedure become necessary, which in turn is expected to hamper growth of market.
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Posterior Microsurgical Instruments Market – Regional Analysis
On the basis of region, the global posterior microsurgical instruments market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
North America region is expected to dominate the global posterior microsurgical instruments market due to adoption of inorganic growth strategies by key players such as agreements in the U.S. For instance, in April 2017, 7D Surgical System, entered into exclusive sales representative agreements with two premier American medical device distributors, Surgical One and DB Surgical, for Machine-Vision Image Guided Surgery (MvIGS) technology. This new MvIGS platform can achieve fast surgical workflow for spine procedures.
Asia Pacific region is expected to witness significant growth in posterior microsurgical instruments market due to rapidly growing healthcare sector and less cost of surgeries. For instance, according to data published by India Brand Equity Foundation (IBEF), in September 2018, the cost of surgery in India is about one-tenth of that in the US or Western Europe and healthcare has become one of India’s largest sectors both in terms of revenue and employment.
Furthermore, According to report published by IBEF 2017, government announced to open three medical devices parks including, The 200 acre park being established in India. Such advancements in healthcare infrastructure will provide opportunities for adoption of various surgical tools including posterior microsurgical instruments, in turn propelling growth of the market.
Key players operating in posterior microsurgical instruments market include Volk Optical Inc., Ziemer Ophthalmic Systems, Novartis AG, Carl Zeiss Meditec AG, Lumenis, Abbott laboratories, Katalyst Surgical, LLC. Mercian Surgical Supply Co Ltd., and Rumex International Co.
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