Revenue of Operating Room Equipment Market to cross US$ 56.8 Bn by 2031, TMR Report

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May 19, 2022, 12:30 ET

Significant success rate of minimally surgeries compelling the need to upgrade operating rooms stirs demand for operating room equipment
Functional advantages of operational efficiency and improved patient care of technically advanced devices such as biomedical systems, endoscopes, and anaesthesia systems to open lucrative growth opportunities in operating room equipment market

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

Increasing number of surgical procedures for complicated health disorders, rise in the number road of accidents and traumatic injuries, and advancements in operating room procedures are some key factors fuelling the growth of operating room equipment market. An alarming rise in the incidence of cardiovascular diseases, obesity, and diabetes resulting into demand for surgical instruments indicates solid sales forecast for operating room equipment market in the upcoming years.

Increasing funding from governments and health departments for modernization of operating room facilities in public hospitals and healthcare centers stimulates the demand for operating room equipment. For instance, under the PMSSY scheme of the Government of India, six AIIMS-like institutions received funding of approximately US$ 83 Mn toward the construction and nearly US$ 27 Mn for procurement of medical equipment and modular operation theatres.

North America stood at the forefront of operating room equipment market in the recent past, and is anticipated to continue to stay at the fore during the forecast period. Immense support of government healthcare departments and role of healthcare corporations to enable robust surgical supplies for improved patient outcomes is stimulating the operating room equipment market of the region.

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Operating Room Equipment Market – Key Findings of the Report

Availability of avant-garde patient monitoring equipment such as vital signs monitoring devices and surgical imaging displays designed for operating rooms is creating new growth frontiers in the operating room equipment market
Analysis of operating room equipment market statistics reveals significant success rate of minimally surgeries is storming the demand for 3D endoscopes, which will further receive stimulus from availability of 3D glasses for improved interior view of endoscopic surgeries.
Design of hybrid operating rooms, integrated operating rooms, and digital operating rooms are playing a key role in improving patient outcomes. Innovations such as hybrid systems that enable flexibility of use of imaging systems during surgeries are gaining popularity to translate into demand for operating room supplies.
Digital operating rooms are equipped with next-gen software sources, images, and operating room video integration that can all be used at the same time or in combination as required. Focus of manufactures of operating room integration system on automation of imaging devices, operating room equipment, and patient information systems point significant scope for operating room equipment market.
Manufacturers are undertaking product development for operating room lights, surgical lights, and hospital lights for increasing market share for operating room equipment. Immense significance of surgical lights, operating lights during surgical procedures are creating value-grab opportunities for players in the operating room equipment market.
Patient monitoring equipment product type segment held the leading share of operating room equipment market in 2017.
Asia Pacific is a key region in the global operating room equipment market due to a large patient pool with chronic diseases, and investments for hospitals and healthcare facilities with advanced medical treatment.

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Operating Room Equipment Market – Growth Drivers

High prevalence of complicated health conditions that requires surgical intervention propels the operating room equipment market
Integration of technology for improved patient care, fewer operating room personnel, and long-term cost savings for health care providers stimulates growth of 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;

SKYTRON
Dragerwerk AG & Co. KGaA
Koninklijke Philips N.V.
Mizuho OSI
STERIS plc
GE Healthcare
Smiths Medical
STORZ MEDICAL AG
Stryker Corporation
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 & Respiratory Devices

Anesthesia Systems
Patient Warmers
Ventilators

Patient Monitoring

Surgical Imaging Displays
Movable Imaging Displays
Vital Signs Monitoring Devices

Surgical Equipment

Electrical Surgical Units
Handheld Surgical Instruments
Operating Tables
Operating Room Lights
Surgical Booms

Others

Microscopes
Endoscopes
Operating Room Integration Systems

Operating Room Equipment Market, by End User

Hospitals
Ambulatory Surgical Centers
Others

Operating Room Equipment Market, by Region

North America
Europe

Germany
U.K.
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 both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Industry Research Reports by Transparency Market Research:

Surgical Kits Market: The global society witnessing an unprecedented period of the coronavirus pandemic. The practice of surgery across the globe is witnessing a slowdown in activities. This is predicted to affect growth of the surgical kits market. As such, stakeholders in the value chain are increasing awareness about the new protocols and practices to combat the transmission of COVID-19 during critical surgeries.

Surgical Equipment Market: High preference for low-cost endosurgery instruments and the habit of using consumable instruments, such as forceps and pencils for a long time in repeated surgery in rural area hospitals, have restraint sales volume of surgical equipment of numerous manufacturing companies. This is hampering 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 enough availability of single-handed surgical suturing devices in various healthcare facilities.

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