Operating room equipment market revenue to exceed $56.8 billion by 2031, TMR report

  • High success rate of minimal surgeries requiring modernization of operating rooms is driving demand for operating room equipment
  • Functional benefits of operational efficiency and improved patient care of technically advanced devices such as biomedical systems, endoscopes and anesthesia systems to open up lucrative growth opportunities in the ward equipment market operation

ALBANY, NY, May 19, 2022 /PRNewswire/ — TMR analysts estimate the operating room equipment market to grow at a CAGR of 4.6% during the forecast period from 2022 to 2031. Extensive research and detailed analysis of factors influencing growth led to well-founded results operating room equipment market size projections for the forecast period presented in the TMR report.

Rising number of surgeries for complicated health conditions, rising number of accidents and traumatic injuries, and advancements in operating room procedures are key factors fueling the growth of the equipment market of operating room. An alarming increase in the incidence of cardiovascular diseases, obesity and diabetes resulting in demand for surgical instruments indicates strong sales forecasts for the operating room equipment market in the coming years.

Rising funding from governments and health departments for modernization of operating rooms in public hospitals and health centers is driving the demand for operating room equipment. For example, under the PMSSY program of the government of Indiasix AIIMS-type institutions received funding of approximately US$83 million towards the construction and almost US$27 million for the purchase of medical equipment and modular operating theatres.

North America was at the forefront of the operating room equipment market in the recent past and is expected to continue to remain at the forefront during the forecast period. Immense support from government health departments and the role of healthcare companies in enabling robust surgical supplies for better patient outcomes is driving the region’s operating room equipment market.

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Operating Room Equipment Market – Key Findings of the Report

  • The availability of cutting-edge patient monitoring equipment such as vital signs monitors and surgical imaging displays designed for operating theaters is creating new growth frontiers in the room equipment market of operation
  • Analysis of operating room equipment market statistics reveals that the significant success rate of minimal surgeries is storming the demand for 3D endoscopes which will be further boosted by the availability of 3D glasses for better sight interior of endoscopic surgeries.
  • The design of hybrid operating rooms, integrated operating rooms and digital operating rooms plays a key role in improving patient outcomes. Innovations such as hybrid systems that allow flexibility in the use of imaging systems during surgeries are gaining popularity resulting in demand for operating room supplies.
  • Digital ORs are equipped with next-generation software sources, images, and OR video integration that can all be used at the same time or in combination as needed. The focus of operating room integration system manufacturers on automation of imaging devices, operating room equipment and patient information systems indicates significant scope for the market operating room equipment.
  • Manufacturers are undertaking product development for operating room lights, surgical lights and hospital lights to increase the operating room equipment market share. Immense importance of surgical lights, surgical lights during surgical procedures create valuation opportunities for players in the operating theater equipment market.
  • The patient monitoring equipment product type segment held the major share of the operating room equipment market in 2017.
  • Asia Pacific is a key region in the global operating room equipment market due to a large pool of patients with chronic diseases and investments for hospitals and healthcare institutions offering advanced medical treatments.

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Operating Room Equipment Market – Growth Drivers

  • High prevalence of complicated health conditions requiring surgery propels the operating room equipment market
  • Integration of technology to improve patient care, reduce operating room staff and achieve long-term cost savings for healthcare providers is driving the growth of the operating room equipment market

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Operating Room Equipment Market – Key Players

Some of the key players present in the operating room equipment market are;

  • Dragerwerk AG & Co. KGaA
  • Koninklijke Philips NV
  • Mizuho OSI
  • STERIS plc
  • GE Healthcare
  • Smith’s Medical
  • Stryker Company
  • Getinge AB
  • Hill-Rom Holdings Inc.

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The operating room equipment market is segmented as follows;

Operating Room Equipment Market, By Product Type

  • Anesthesia and breathing machines
    • Anesthesia systems
    • Patient warmers
    • Fans
  • Patient Monitoring
    • Surgical imaging screens
    • Mobile imaging screens
    • Vital signs monitoring devices
  • Surgical equipment
    • Electric surgical units
    • Portable surgical instruments
    • Operating tables
    • Operating room lights
    • Surgical arrows
  • Others
    • microscopes
    • Endoscopes
    • Operating Room Integration Systems

Operating Room Equipment Market, By End User

  • Hospitals
  • Ambulatory surgery centers
  • Others

Operating Room Equipment Market, By Region

  • North America
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of MEA

Modernization of healthcare in terms of infrastructure and services has pushed the healthcare industry to new heights, stay updated with Latest Health Industry Research Reports by Transparency Market Research:

Surgical Kits Market: Global society is witnessing an unprecedented time of the coronavirus pandemic. The practice of surgery around the world is experiencing a slowdown in its activities. This is expected to affect the growth of the surgical kits market. Thus, actors in the value chain are raising awareness of new protocols and practices to combat the transmission of COVID-19 during critical surgeries.

Surgical Equipment Market: The strong preference for low-cost endosurgery instruments and the habit of using expendable instruments, such as forceps and pencils for a long time during repeat surgeries in hospitals in rural areas, have limited the sales volume of surgical equipment from many manufacturing companies. This hampers the surgical equipment market.

Surgical Navigation Systems Market: Companies in the surgical equipment market are setting their collaboration wheels in motion by entering into strategic agreements to create sufficient availability of one-handed surgical suturing devices in various healthcare institutions.

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