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, FMI, in its new study, states that sales of medical loupes will value around US$ 300 Mn in 2020.
AR to Offer Step-change Improvements in Surgical Procedures
Shareholders in healthcare industry are investing in cutting-edge equipment and technology such as augmented reality (AR) to ensure favorable medical outcomes during intensive procedures. These technologies ensure sleek flow of events during surgical procedures.
In order to achieve enhanced optical imagery, healthcare institutions are leveraging AR systems with medical loupes to assist medical professionals in surgical procedures volumes. Development of virtual tools has armed surgeons to perform suturing procedures in significantly reduced time with hybrid magnification approach. These AR systems offer microscopic images as well as tracking system to track movements of tools.
Going forward, these AR solutions are complemented with other sight activations such as head-mounted displays (HMD), which facilitates simple turn on and off of magnification mode to perform other tasks including, holding surgical equipment, interacting with associate medical partners, and monitoring medical devices.
Customization Holds Key to Overcome Challenges
Manufacturers of medical loupes have been facing the challenge of achieving ideal angle as per various facial geometrics and declination angles. Several dentists generally confront cumbersome treatment room designs, as they work in myriads of settings and locations.
As such, manufacturers are developing customized medical loupes that accommodate and declination angles and facial geometrics. These advanced medical loupes are derived from lightweight metals, and achieve high-quality oculars during dental and other surgical procedures.
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North America Medical Loupes Market
Accounting for nearly a third of global medical loupes market revenue, North America continues to engage stakeholders. Up to 40% of domestic production in the US is eventually exported in Medtech industry each year. Moreover, the US represents the largest market for medical devices, says FMI.
According to a report by the American Society of Plastic Surgeons (ASPS) in 2019, breast augmentation ranked top in terms of most performed cosmetic surgery since 2006. In addition, about two million breast augmentation procedures were performed in 2019.
About 7 out of 10 medical loupes in North America will be sold in the US. Further, medical loupes in Canada is reflecting potential growth avenues.
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Europe Medical Loupes Market
Europe follows North America in terms of revenue share in global medical loupes market. FMI cites medical advancements, top-quality and affordable healthcare, and strong medical tourism industry as propelling forces behind regional market growth.
Countries such as Spain have created a niche per se in eye surgery, orthopedic surgery, and post-operative care, with several industry strategies that are pulling loads of international patients across its borders each year. Similarly, medical tourists prominently visit France to access cost-effective and high-quality dental care, cosmetic surgeries, and bariatric surgery.
These trends will broadly drive medical loupes market in Europe, with Germany and the UK accounting for leading value share.
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Asia Medical Loupes Market
While developed regions are capturing lion’s share in medical loupes market, markets in East and South are experiencing meteoric growth. In China and Japan, eyelid surgeries, facelifts, and botulinum toxin are highly prevalent surgical procedures.
Think tanks in Japan are banking on AR solutions to complement plastic and reconstructive surgeries for planning, performing, and examining results. Rapid adoption of cutting-edge medical technologies, presence of world-class surgeons and cost-efficient surgeries are driving medical loupes in India.
Going forward, has become global giant in medical tourism, with countries such as Thailand, Indonesia, and South Korea leading the pack.
Flip up Medical Loupes will Continue Leading
Flip up medical loupes continue to capture prominent revenue share, given its umpteen benefits such as flexibility of flips through up and down, customization of angle of declination of flips, relatively cost-effective compared to through the lens (TTL), and manual adjustment facility of pupillary distance of flips.
However, FMI notices that flip up medical loupes will lose their value share to TTL medical loupes in coming years. TTL medical loupes are lighter compared to flip up medical loupes and offer broader field-of-view. In addition, they accept readers’ prescriptions for both near and far vision.
Galilean Lens Loupes Sales Poised to Surge
Galilean lens loupes are ideal for first-time users as these lenses have lower magnification versus prismatic lenses that allows first-time users to adapt their brains with loupe vision. In addition, Galilean lenses are comfortable to wear with regards to field-of-view and line of sight (LOS). With lesser adjustments, Galilean lens loupes can efficiently be used for magnification.
Prismatic lens loupes, on the flip side, offer higher magnification without decreasing field-of-view. While Galilean lens loupes account for greater value share, prismatic lens loupes are seeing rapid adoption.
Surgical Applications to Remain High
About 6 out of 10 medical loupes will be utilized in surgical procedures, says FMI research study. Medical loupes have been primarily utilized in surgical applications where accurate postures and enhanced view are highly critical to positive outcomes. That said, adoption of medical loupes is accelerating in dentistry, given rising cases of physical ailments – backache, eye strain, and shoulder weakness – among dental hygienists.
Medical loupes allow dentists to perform procedures more effectively and at ease. Dentistry applications capture about 40% of overall medical loupes market value. FMI finds that the number will rise at healthy CAGR in coming years.
Offline Channels will Remain More Preferred
Market players continue to invest in offline channels for sales of medical loupes, which account for about 70% of total market stack. However, the COVID-19 crisis has drastically set new bars for how manufacturers will distribute their products and interact with end users.
With social distancing regulations coming into existence due to nationwide lockdowns, market players are rapidly shifting towards online channels to distribute medical loupes. Despite procuring relatively lesser value share, sales of medical loupes via online channels will grow at about 6% CAGR through 2029.
Changing market dynamics and rising competition are influencing players in medical loupes market to harness technology. As these experiments continue to pick pace, end users are expect increasing degree of customization and digital engagement, as such, market players are reimagining their existing business models and supply chains.
Moving ahead, manufacturers of medical loupes are focusing on strategic convening and conspicuous investments in innovation and diversification in order to better serve customers and grow. Case in point,
Enova Illumination has rolled out its new assembly of medical loupes. Developed in the US, the loupes feature colored oculars and are available in blue, green, silver, pink, and black colors. In addition, the innovative Enova Loupe comes with Oakley frame that incorporates interchangeable colored temple arms to include additional pop of color.
Orascoptic has developed proprietary technology in loupe illumination - TruColor™ - to achieve high color rendering index (CRI) illumination. By blending improved light source with cutting-edge lens design and light beam control, Orascoptic has unleashed the color spectrum sans affecting other key lighting performance aspects. TruColor™ headlights offer advanced color rendering with no degradation in spot uniformity, light output, or battery running time.
Carl Zeiss Meditec AG has taken over IanTECH in an effort to broaden its portfolio in cataract surgery. The aim of this acquisition is to leverage IanTECH’s innovative surgical technology to shape the future of managing cataracts.
In addition to these, some other key players in medical loupes market include
- Rose Micro Solutions
- L.A. Lens, ErgonoptiX
- Designs for Vision, Inc.
- Den-Mat Holdings LLC
- Enova Illumination
- NORTH-SOUTHERN ELECTRONICS LIMITED
- R&D Surgical Ltd. (Xenosys)
- SHEER Vision
The list is only indicative – full list of medical loupes market key players is available upon request.
Medical Loupes Market Report: Scope
Historical Data Available for
USD Million for value
Key Regions Covered
North America, Latin America, Europe. South Asia, East Asia, Oceania and Middle East & Africa (MEA)
Key Countries Covered
US, Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, BENELUX, China, Japan, South Korea, India, ASEAN, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, Israel, South Africa
Key Segments Covered
Product Type, Lens Type, Application, Sales Channel, and Region
Key Companies Profiled
Carl Zeiss Meditec AG, Rose Micro Solutions, L.A. Lens, ErgonoptiX, NORTH-SOUTHERN ELECTRONICS LIMITED, Designs for Vision, Inc., Enova Illumination, SurgiTel, Den-Mat Holdings, LLC, SHEER Vision, R&D Surgical Ltd. (Xenosys) (only indicative list)
Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives
Customization & Pricing
Key Questions Answered by the Report
- How the market for medical loupes is expected to shape up in coming ten years?
The global medical loupes market size will value around US$ 294.5 Mn in 2020. Market revenue pool will expand by nearly 5.4% CAGR during 2019-2029.
- Which is the largest market for medical loupes?
North America and Europe represent the largest market for medical loupes, globally, owing to presence of advanced healthcare expenditure and surging number of surgical procedures.
- How the competition is structured in global medical loupes market?
The global medical loupes market is fairly consolidated with presence of various leading players including, Carl Zeiss Meditec AG, Rose Micro Solutions, L.A. Lens, ErgonoptiX, and NORTH-SOUTHERN ELECTRONICS LIMITED.
- Which product type will remain high in demand in global medical loupes market?
Among various product types, demand for flip up loupes will remain high over following decade in global medical loupes market. That said, market players are also tapping into through the lens (TTL) to ensure bigger margins.
- Which sales channel is highly preferable in global medical loupes market?
Market players are gleaning significant revenue from offline sales channels for selling medical loupes. However, lockdown restrictions existing due to COVID-19 pandemic, players are turning to online sales channel to stay afloat.
- What are the uses of medical loupes in surgical procedures?
Medical loupes provide better optical performance, clarity and accuracy to first-time and experienced users for successful treatments.
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- Through The Lens (TTL)
- Flip Up Loupe
- North America (US, and Canada)
- Latin America (Brazil, and Mexico)
- Europe (Germany, UK, Russia, France, and Italy)
- South Asia (India, Indonesia, and Thailand)
- East Asia (China, Japan, and South Korea)
- Oceania (Australia and New Zealand)
- Middle East & Africa (MEA) (Turkey, GCC Countries, and South Africa)