The medical loupes market size was estimated to be US$ 441.17 million in 2021 and US$ XX million in 2023 and is expected to reach US$ 901.19 million by 2031; it is estimated to record a CAGR of 8.8% in 2023–2031.
Increasing product launches and rising demand for medical loupes during surgical procedures are driving factors. Technological advancements in loupes with improved magnification and illumination features will likely remain key medical loupes market trends.
Medical Loupes Market Analysis
Increasing developments in medical technology are enabling various product launches in the market. Several startup companies have boosted their product development and upgrade activities, leveraging the market’s growth. For instance, In September 2022, SurgiTel launched a design to give ErgoDeflection loupes a customizable 40 to 50 degree deflection angle to match the clinician’s ideal working angle. These loupes are offered in 3.5x and 4.5x magnification and come with SurgiTel’s Ergo Fit Nose Pad system that easily conforms to a wide variety of nose shapes. Furthermore, in January 2024, Ocutrx Technologies launched an enhanced model of the ORLenz surgery headset. The surgical loupe device enhances a surgeon’s vision during spinal surgery through augmented and Extended Reality (XR). The additional functionality of the ORLenz surgery headset is currently in the clinical assessment phase as a part of its OR-Bot 3D Surgical Visualization Theatre, which is aimed at transforming ophthalmologic procedures. These factors are expected to boost market growth during the forecast period.
Medical Overview
North America is the largest market for medical loupes. The growth is characterized by the increasing adoption of advanced medical technology, investments in product developments, an increasing number of patients visiting dental clinics, and rising medical tourism, influencing the growth of cosmetic and general surgeries. A dental loupe is a tool many dentists and dental students use to improve visual field and performance. According to a report published in NCBI, practitioners have increasingly used medical loupes due to their advantages. The report states that participants reported the following advantages: comfort in vision (59.25%) and improved work accuracy (53%).
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Medical Loupes Market: Strategic Insights
Market Size Value in US$ 393.64 million in 2019 Market Size Value by US$ 658.49 Million by 2027 Growth rate CAGR of 6.8% from 2020 to 2027 Forecast Period 2020 - 2027 Base Year 2020
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Medical Loupes Market: Strategic Insights
| Market Size Value in | US$ 393.64 million in 2019 |
| Market Size Value by | US$ 658.49 Million by 2027 |
| Growth rate | CAGR of 6.8% from 2020 to 2027 |
| Forecast Period | 2020 - 2027 |
| Base Year | 2020 |
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Medical Drivers and Opportunities
Rising Need for Medical Loupes During Surgical Procedures
It is expected that growing surgical producer numbers worldwide is likely to make significant demand for medical loupes. Overall, the general surgery workload has increased by 31.5% by 2020 from the last decade and the total number of general surgeons is projected to increase by 100 or 200 annually. The ambiguity of human health due to changing lifestyles and habits will increase the incidence of chronic diseases, leading to surgical procedures. Therefore, it is expected that the benefits of medical loupes combined with increasing numbers of surgical procedures are likely to drive the market during the forecast period.
Increasing Demand for Laser-Protected Medical Loupes – An Opportunity
Laser treatments should be performed with the highest precision; therefore, various companies have introduced laser-protected medical loupes for surgeons and professionals performing laser procedures. For instance, Special ZEISS EyeMag Smart medical loupes are widely used by surgeons to perform minimally invasive laser therapies that offer high-quality laser protection combined with advanced visualization. Moreover, other companies such as ViewMax Solutions LLC (LightScalpel) and Orascoptic offer laser-protected medical loupes.
Adoptions of laser-protected medical loupes during surgeries have increased significantly across various North American, European, and Asian countries.
Medical Report Segmentation Analysis
Key segments that contributed to the derivation of the medical analysis are type, lens type, application, and distribution channel.
- Based on type, the medical loupes market is divided into through the lens (TTL) loupes and flip up loupes. The through the lens (TTL) loupes segment held a larger market share in 2023.
- Based on lens type, the medical loupes market is divided into galilean and prismatic. The galilean segment held a larger market share in 2023.
- Based on applications, the medical loupes market is segmented into dentistry, surgical and others. The surgical segment held a larger market share in 2023.
- By distribution channel, the market is segmented into diagnostic offline and offline. The offline segment held the largest share of the market in 2023.
Medical Loupes Market Share Analysis by Geography
The geographic scope of the Medical Loupes market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
North America has dominated the medical loupes market. Various companies are raising funds to develop new technologies that can work hand in hand and transform the country's medical facilities. For instance, in June 2020, FYR Medical Inc, a Texas-based company, successfully raised a US$ 1 2.6 million Series A funding round. The funding was used to create the world’s first extended reality (XR) digital loupes that deploy light field technology to lower the eye strain and fatigue. The device is exceptionally lightweight with a reduced form factor designed to duplicate the size and shape of surgical loupes. Significantly, the virtual content within the XR digital loupes can be easily viewed in the bright lighting situation typically associated with operating rooms. Such innovations will likely enhance the demand for medical loupes for various surgeries and market growth during the forecast period. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.
Medical Loupes Market Report Scope
Medical Loupes Market News and Recent Developments
The medical loupes market is evaluated by gathering qualitative and quantitative data from primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for medical loupes:
- Orascoptic launched first and only adjustable magnification loupe (EyeZoom) for medical. (Source: Orascoptic /Company Website, November 2022)
- NuEyes launched their next generation of smart glasses for the medical and dental market. (Source: NuEyes, Company Website, May 2023)
Medical Loupes Market Report Coverage and Deliverables
The “Medical Loupes Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Application, End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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