According to the latest report published by Credence Research, Inc. “Operating Room Equipment Market - Growth, Future Prospects and Competitive Analysis, 2018-2026,” the global operating room equipment market was valued at USD 28,917.6 Mn in 2017, and is expected to reach USD 48,165.1 Mn by 2026, expanding at a CAGR of 5.9% from 2018 to 2026.
Browse the full report Operating Room Equipment Market - Growth, Future Prospects and Competitive Analysis, 2018-2026 report at https://www.credenceresearch.com/report/operating-room-equipment-market
Market Insights
Over decades operating room has been constantly evolving to be an ideal operating room which fulfills all the requirements & safety measures for patients and medical staff. The incessant technological developments in the operating room equipment industry is expected to drive the overall market as the latest technologies are always first choice for established chains of hospital or ambulatory clinics. Patient safety is one of the most important part of operating room designing in which installment of each device and their position is decided based on medical requirements and specialties provided by the respective medical institution. However, increasing awareness related to early disease diagnosis for chronic diseases and supportive medical reimbursement policies are assisting the growth in number of surgeries and critical disease diagnosis. Thus, overall aiding a substantial growth in increasing number of healthcare facilities that own operating rooms.
The key products present in operating rooms are anesthesia & respiratory devices, patient monitoring, surgical equipment, and other products. In year 2017, anesthesia & respiratory devices dominated the market segment as these devices are integral part of almost all types of surgeries and recent surge in adoption of Anesthesia Information Management Systems (AIMS) is expected to maintain its dominance throughout the forecast period. The importance of sterilization and single used accessories is mounting due to rising prevalence of hospital-acquired infections which are one of the most life-threatening infections. Hence, accessories of anesthesia and respiratory devices that come in contact with patients are usually for single use.
In 2017, North America was identified as the largest operating room equipment market due to key drivers such as increasing awareness & prevalence related to chronic diseases, developed healthcare infrastructure & high accessibility towards modern operating room equipment, and increasing number of ambulatory surgical centers. Outpatient hospital care centers are growing significantly in the United States due to cost-efficiency, preferred destination for minimally invasive surgeries, and high accessibility compared to multispecialty hospitals.
Market Competition Assessment:
The growth of operating room equipment is at a steady rate and major players present in this market are specifically focusing on providing technologically advanced, mobile, cost-efficient & multi-tasking equipment. The key manufacturers present in this market are Philips Healthcare, Medtronic, Getinge AB, Stryker Corporation, Siemens Healthineers, Karl Storz GmbH & Co. Kg, GE Healthcare, Hill Rom (Trumpf Medical), STERIS plc, and Skytron among others.
Key Market Movements:
- Increasing prevalence of chronic diseases coupled with mounting awareness related to disease diagnosis & treatment
- Increasing number of hospitals and ambulatory care centers is expected to assist the demand for operating room equipment
- Incessant advancement in the technologies of operating room equipment
- Multi-tasking equipment and smart devices are in high demand specifically for carrying out complex surgeries in operating room.
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