Global market of operating room equipment surpassed a value of US$ 29 billion in 2018, and is likely to record a Y-o-Y growth of 6.0% in 2019, according to a new study. Key factors impacting the growth of global operating room equipment market range from surging prevalence of pathological and physiological diseases to growing preference for minimally invasive and non-invasive surgical procedures. In addition, rising number of hospitals along with growing regulatory approvals for a wide variety of medical devices are likely to create lucrative opportunities for manufactures in the operating room equipment industry.
The study finds that healthcare professionals and surgeons are demanding for operating rooms equipped with technically advanced devices that provide greater flexibility and ease of handling in order to ensure improved operational efficiency and better patient care system. Moreover, hospitals are heavily investing to upgrade operating rooms to reduce post-operative trauma and hospital stays for patients. These factors are directly influencing the global expansion of operating room equipment market. Further, growing adoption of various complex surgical equipment ranging from movables imagining system to operating room lights in hospitals and ambulatory surgical centers is foreseen to guide the future of global operating room equipment market.
Electrosurgical Technologies Trending in Operating Room Equipment Market
In the recent times, electrosurgical technologies have been gaining rising momentum among manufacturers in operating room equipment market, which enable treatment such as incision of sealing wounds using electrical energy. Apart from this trend, healthcare professionals are showing strong preference for advanced surgical procedures that use patient imaging scans and virtual reality as compared to conventional techniques for treating medical infections and diseases. Owing to these factors, global operating room equipment market is anticipated to project a robust growth in the coming years.
North America Leads Gains in Operating Room Equipment Market
In 2017, operating room equipment market in North America crossed a value of US$ 10.5 billion, accounting for relatively high revenue share in the global scenario. Rising prevalence of chronic diseases, surge in number of ambulatory surgical clinics, and high healthcare expenditure in the region is likely to drive the growth of North America operating room equipment market. Meanwhile, APEJ is envisaged to emerge as an attractive region for operating room equipment market, backed by government initiatives for the development of healthcare infrastructure lined with growing number of hospitals as well as healthcare professionals.
Movable Imaging Systems Remain Leading Product
According to the study, worldwide sales of movable imaging system collected a revenue of more than US$ 7.9 billion in 2017, and will continue to account for relatively large percentage share of operating room equipment market in 2018. Biomedical systems, on the other hand, is likely to witness an increasing demand in the coming years, representing second highest revenue growth in the global market of operating room equipment.
The study opines that hospitals will remain the largest end user of operating room equipment across the globe, holding a value share of more than 80% in 2017. Surge in the number of hospitals, especially in emerging economies, and upgrade in operating rooms with technically advanced devices will possibly push the demand for operating room equipment in hospitals.
The study highlights detailed profiles of leading players in the global operating room equipment market which include Getinge AB, Stryker Corporation, Steris Plc, Hill-Rom Holdings, Inc., General Electric Company, KARL STORZ GmbH & Co. KG, Mizuho OSI, Inc., Medtronic, plc, Koninklijke Philips N.V., and Dragerwerk AG & Co. KGaA.
The study offers a detailed analysis and an accurate forecast of global operating room equipment market for the 2017-2022 period. The global operating room market is projected to grow at a CAGR of 6.2% during the forecast period.
These insights are based on a report on Operating Room Equipment Market by Fact.MR