The operating room equipment market accounted for a market value of US$ 28,917.6 million in 2017 and is projected to grow at a CAGR of 5.9% during the forecast period from 2018 to 2026. Operating room equipment has evolved drastically over the years, and it’s the result of constant innovation in the technology of medical devices and the changing requirements of medical practitioners performing various types of surgical procedures. However, the recent wave of upgrading a device with smart technology is not new in healthcare; most of the patient monitoring and diagnostic devices have been upgraded and can be accessed from any corner of the hospital by medical practitioners. Thus, this flexibility and availability of patient data at the click of a button have reduced the majority of the complexities developing in the operating room.
Market Synopsis
An increasing number of ambulatory surgical centers is expected to assist in increasing demand for operating room equipment.
Ambulatory surgical centers have been the fastest-growing healthcare facilities globally due to the increasing demand for cost-efficient and minimally invasive surgeries. In addition to that, its accessibility for patients is high due to its strategic placement in tier II and tier III areas of most developed and developing countries. To compete with ambulatory surgical centers, many hospitals are focusing on their outpatient care centers, due to which the demand for operating room equipment will significantly rise throughout the forecast period. According to AmSurg, the number of ambulatory surgical center operating rooms (ORs) increased 2-3% per year in the United States from 2010 to 2015 as new construction skewed toward larger facilities and existing facilities added operating room capacity.
Asia Pacific has been identified as the fastest-growing operating room equipment market due to the rising number of hospitals and outpatient care centers and the booming medical tourism industry.
Asia-Pacific is the most populated region due to the presence of two of the most populated countries, such as China and India. These two countries are also known for their skyrocketing economic growth, which is also assisting the infrastructure growth in the healthcare sector. The infrastructural development in the healthcare sector was carried out by establishing healthcare facilities in the remotest towns of the country, which assisted the overall growth in awareness related to chronic disease and its treatment. The reimbursement scenario is also changing in Asia Pacific and is well established in developed and developing countries, but awareness related to supportive medical insurance is increasing, which is expected to assist the growth in the number of patients approaching healthcare facilities for treatment. The number of private hospitals is increasing in Asia due to the failure of the public hospital sector, which is unable to meet changing community needs due to insufficient financial and policy support.
Periods of History and Forecast
The operating room equipment market was analyzed considering current market trends for the base year of 2017, and based on future trends, CAGRs were calculated for the forecast period from 2018 to 2026.
Report Scope by Segments
This report includes a detailed analysis of the operating room equipment market, covering qualitative and quantitative data and focusing specifically on the major market drivers, opportunities, and restraints that affect the overall global market. For each country-level market in the respective regional segments, an exhaustive list of market drivers, challenges, and opportunities is provided. This report covers a detailed analysis related to the global operating room equipment market with segments such as types of products, end-users, and geography. The report comprises the competitive landscape of the major players operating in the operating room equipment market and covers in-depth data related to market competition and the recent strategies and products assisting or affecting the market in the near future.
The key players operating in the global market were analyzed based on financial information, product portfolios, recent market updates, and key market strategies. This report also comprises attractive investment propositions analyzed with the help of in-depth geographical research based on PESTEL analysis. Major players profiled in the report include Philips Healthcare, Medtronic, Getinge AB, Stryker Corporation, Siemens Healthcare, Karl Storz GmbH & Co. KG, GE Healthcare, Hill Rom (Trumpf Medical), STERIS plc, Skytron, among others.
Key questions are answered in this report.
Which is the trending product type in the market preferred in the operating room, and why?
What are the recent market strategies followed by key players and the competitive analysis specific to the operating room equipment market?
Which are the major geographies (regions and countries) in the operating room equipment market?
Which is the largest and fastest-growing type of operating room equipment globally?
What is the competitive landscape of the operating room equipment market like, and what are the strategies of the major players in this industry?
Frequently Asked Questions:
The market for Operating Room Equipment is expected to reach US$ 28,917.6 Mn 2026.
The Operating Room Equipment market is expected to see significant CAGR growth over the coming years, at 5.9%.
The report is forecasted from 2018-2026
The base year of this report is 2017.
Philips Healthcare,KARL STORZ GmbH & Co. KG,Medtronic plc,Getinge AB,Stryker Corporation are some of the major players in the global market.
