Operating Room Equipment Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMHOS77 | Last Updated On: Oct 12 2022 | Available Formats

> Operating Room Equipment Market Expected to reach a high CAGR of 5.8% during the forecast period 2022-2029: DataM Intelligence

Operating Room Equipment Market is segmented by Product Type (Operating Tables, Surgical Lights, Surgical Imaging Displays, Operating Room Integration Systems, Anesthesia Systems, Surgical Booms, Others), By End User (Hospitals, Ambulatory Surgery Centres), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Operating Room Equipment Market size was valued at US$ xx million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of 5.8% during the forecast period (2022-2029).  

Operating Room Equipment Market

Metrics

Details

Market CAGR

5.8%

Segments Covered

By Product Type, By End-User, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Operating rooms are designed for surgical staff and surgeons to perform surgical procedures that require time, patience, focus, and safety. Various equipment is required for use in the operating room. The equipment includes surgical lights, operating tables, booms, and displays.

Market Dynamics

The operating room equipment market growth is driven by the rising number of hospitals, surgeries, the geriatric population increase, and research and development activities.

Government authorities' rising initiatives for safe surgery are expected to drive market growth

The rising initiatives for safe surgery and demand for well-equipped operating rooms are expected to boost the market over the forecast period. The World Health Organization has launched several national and international programs to address surgical safety. For instance, the WHO's Second Global Patient Safety Challenge, "Safe Surgery Saves Lives," has been a major inspiration for much of this effort. Through the development of a fundamental set of safety requirements that could be implemented in all WHO Member States, Safe Surgery Saves Lives set out to promote the safety of surgical care globally. In order to assure better operational efficiency and patient care, medical professionals and surgeons demanded operating rooms outfitted with cutting-edge technology that offers greater flexibility. The market for operating room equipment on a global scale is positively impacted.

The high cost of operating room equipment will hamper the growth of the market

However, the cost of setting up an integrated operating room is comparatively greater due to the high cost of several pieces of equipment and associated software. In underdeveloped nations, integrated operating rooms are quite expensive to construct. The widespread adoption of integrated operating room technology has been limited by its expensive installation and maintenance costs. After installation, this equipment needs to be continually updated to account for user needs and software updates, incurring ongoing costs.

COVID-19 Impact Analysis

The appearance of COVID-19 considerably impacted the global operating room equipment market. Stanford Medicine researchers reported that in March 2020, COVID-19 shutdown and nonurgent surgery rates decreased, but within months they bounced back and continued at pre-pandemic levels, even as coronavirus infections were high during the fall and winter of 2020. As expected, the researchers found a 48% drop in surgical volume during the seven weeks after March, when the Centers for Medicare and Medicaid Services suggested that hospitals minimize, postpone or cancel elective surgeries. Moreover, the American College of Surgeons (ACS) and other major surgical specialty societies suggested minimizing, postponing, or canceling elective surgical procedures in mid-March and published guidelines for triage of elective procedures by surgical specialty. As the number of surgery decreased, the demand for operating room equipment decreased during the pandemic.

But as of now, the situation is recovering from the pandemic the growth of the market is recovering worldwide.

Segment Analysis

The surgical tables segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)    

The surgical tables segment is expected to boost the market throughout the forecast. Due to an increase in surgical treatments, such as orthopedic and bariatric surgeries, demand for specialist surgical tables is growing. For surgeons to execute specialty surgical procedures, they must use various surgical techniques and specialized patient postures. One key impact on the market growth is the increase in the elderly population. It is estimated that 16% of the world's population will be over 65 by 2050, which is higher than the predicted five-fold rise since 1950. As the old population is increased with the disease, the number of surgical activity is increases, which leads to market growth of operating room equipment worldwide.

Geographical Analysis

North America region holds the largest market share of the global operating room equipment market

North America dominates the market for Operating Room Equipment and is expected to show a similar trend over the forecast period. It is anticipated to hold a significant market size over the forecast period (2022-2029) owing to the advanced healthcare system, many market players, increasing old population, and rising incidence of chronic diseases. Patient safety in the operating room is improved in the last few years because errors from healthcare professionals and communication gaps lead to the most adverse events. The safety of the patients is important in the operating room to avoid errors from healthcare professionals. There is demand for an advanced operating room which drives the market. In addition, as per Standford Children’s Health, in the United States, around 3.5 million children aged 14 years and above get harmed by physical injury during sports, and more than 775,000 are treated in the hospital every year. Therefore, rising physical injuries and accidents will impel future market growth. These factors drive the operating room equipment market in the North American region.

Competitive Landscape

The operating room equipment market is a moderately competitive presence of local as well as global companies. Some of the key players which are contributing to the growth of the market are Philips Healthcare, Maquet Holding, Medtronic, Getinge AB, Stryker Corporation, Karl Storz, and STERIS plc, among others. The major players are adopting several growth strategies, such as product launches, acquisitions, and collaborations, which are contributing to the growth of the Operating Room Equipment market globally.

For instance,

  • In December 2021, Baxter acquired Hillrom for a deal of $15 billion amount. This acquisition helps to expand the business of transforming healthcare and advancing patient care worldwide.

 Philips Healthcare

Overview:

Philips Healthcare is a health technology organization founded in 1986 and headquartered in the United States. It has about 65 years of experience providing medical equipment and services that advance minimally invasive surgeries.

Treatment type Portfolio:

Infrared Data Cable: This accessory attaches to a PC and reads IR data from a defibrillator for use by the HeartStart Event Review suite of software products.

The global Operating Room Equipment market report would provide access to approximately 65+ market data tables, 65+ figures, and in the range of 200+ (approximate) pages

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