Operating Room Equipment Market Product Benchmarking And Overview by 2025
6 Dec 2018 – The global Operating Room Equipment Market size was valued at USD 26.24 billion in 2016 and is expected to reach USD 48.50 billion by 2025, at CAGR of 7.2%. Growing demand for improved medical facilities coupled with transition from conventional to state-of-the-art operation theaters is anticipated to escalate the operating room equipment market over the forecast period. Technological transformations, infrastructural development and high investments in the medical devices by hospital and healthcare centers are expected to spur the medical equipment demand over the forecast period. Development of hybrid operating rooms has prompted the installation of multi-purpose equipment, enabling automated results coupled with high operational efficiency, providing ample space for the introduction of high end equipment.
High occurrence of medical disorders among geriatric population along with the prevalence life threatening diseases is anticipated to fuel advanced operating equipment demand. Availability of advanced surgical tools and high prevalence of chronic disorders or diseases is also anticipated to escalate product demand over the forecast period. Key challenge faced by the industry includes the high cost associated, which is expected to hamper introduction of these devices in hospitals. Lack of knowledge and skilled manpower required to handle complex devices is also expected to hinder market growth over the forecast period. Rise in number of high-end operating rooms accompanying advanced equipment along with increasing number of ASC (Ambulatory Surgical Center) is anticipated to substantially drive the level of innovation among manufacturers instigating them to provide latest technologies. Advanced and efficient operating tables, surgical booms, operating room integration systems, operating room lights, surgical headlights, surgical light sources and surgical imaging display forms an integral part of the new age hybrid theaters.
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Further, anesthesia equipment, electrosurgical generators, defibrillators, respiratory ventilators, endoscopy equipment, vital sign monitors, pneumatic tourniquet, infusion pumps, surgery microscopes, medical stainless steel, patient warmers, suction pumps, hospital stretchers, medical warmers, hospital stretchers, autoclaves & sterilizers, sequential compression devices and vaporizers & accessories contributes essential functionalities to an operating theater.
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Integration of non-surgical and surgical equipment in the hybrid operating rooms including patient monitoring, diagnostics and radiology among others coupled with imaging techniques such as MRI scanners, CT scanners and C- arm provides better ease and flexibility to the specialist to perform the task. Installation of hybrid operation rooms largely reduces the hustle of transferring a patient from the operation theater to the scanning center. This greatly automates the work efficiencies and results in better patient care, thereby adding to the business value.
Operating rooms presently require high-definition fixed imaging and video equipment, enabling information from all over the hospital at the surgeon’s fingertip, and are expected to drive the industry demand over the forecast period. The industry is witnessing a growing trend towards installation of larger imaging systems. Operating rooms today are an economic engine for any medical facility, and accounts for more than 60% of the revenue. Further, hospitals often face an increasing drive for patient oriented effectiveness. Hospitals need to focus on creating value for the patient with the installation of state-of-the-art equipment with a combination of optimally trained medical expert. In addition, optimizing the operation environment helps enhance surgeon performance, and is thereby expected to drive the operating equipment market over the forecast period.
Europe and North America are expected to emerge as the largest markets due to existence of well-established medical sector with the presence of technologically advanced medical systems. The regions are expected to witness significant growth due to the upgradation of technology with advanced automated systems and rise in number of hospitals. Evolving medical industry in the Asia Pacific region including India, Thailand, Malaysia and South Korea due to rise in population encourages the medical sector to install high-end medical facilities and technologies at low costs.
Major players in the market include Steris Corporation, Hill-Rom Holding Inc., GE Healthcare, Phillips Healthcare, Stryker Corporation, Mizuho OSI, Getinge Group, Dragerwerk, Medtronic Inc, Eschmann Equipment, Karl Storz GmBH & Co. KG, Skytron, NDS Surgical Imaging, Berchtold Corporation, Trumpf GmBH + Co. KG, Creative Heath Tech Pvt. Ltd., Siemens Healthcare.
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