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Surgical Booms Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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  • 118 Pages
  • June 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 5617298
The surgical booms market is expected to register a CAGR of 4.05% over the forecast period.

The COVID-19 pandemic significantly impacted the surgical booms market owing to government-imposed lockdown, supply chain disruption, and trade bans among several countries. Also, a decrease in elective surgeries during the pandemic also impacted the market. For instance, according to the report of the British Journal of Surgery, in May 2020, around 48,728 surgical procedures per week were canceled in India which is estimated around 585,000 surgical procedures for 12 weeks. However, the increasing prevalence of chronic diseases which were caused by the Covid-19 infection coupled with the increasing number of cardiovascular patients increased the demand for surgeries and hospital admissions increased. Which further created the demand for surgical booms used in care facilities. Therefore, the Covid-19 had a slightly negative impact on the market initially, but the market has seen steady growth during the pandemic.

Ergonomic design to centralize all surgical support equipment and utility services for operating room staff, flexibility, and ability to conform to various configurations depending on the space requirements, function, and purpose are several advantages of the surgical booms which are creating demand for the equipment currently in operating room settings. Moreover, as the intensifying demand to improve the operating room settings increases, the adoption of new digital equipment such as surgical booms also increases. This medical equipment has proven effective and enhances the overall safety in the operating room by cutting overall wiring and usage of several other types of equipment. The rising adoption of surgical booms across healthcare infrastructure for improving operating room settings is creating opportunities for the growth of the surgical booms market.

Additionally, as minimally invasive procedures have more advantages over traditional procedures, they are gaining traction. Hence, surgical booms, especially ceiling-mounted booms are needed to aid the surgical flow disturbances due to technology and equipment-related failures. Therefore, owing to the above factors, the increase in minimally invasive surgery is expected to drive the studied market growth.

Moreover, the growing prevalence of chronic diseases is further driving the demand for surgical procedures for treatment, augmenting the growth of the market. For instance, according to the World Health Organization (WHO), 2021 fact sheet, non-communicable diseases (NCDs), also known as chronic diseases, are responsible for the death of about 41 million people each year, which is equivalent to 71% of the total deaths recorded worldwide. As per the same source, every year, over 15 million people aged between 30-69 years die due to NCDs across the world. Thus, due to the high burden of mortality the demand for advanced treatment procedures is increasing. As minimally invasive procedures have more advantages over traditional procedures, they are gaining traction. Hence, the surgical booms specially ceiling-mounted booms are needed to aid the surgical flow disturbances due to technology- and equipment-related failures. Therefore, owing to the above factors, the increase in minimally invasive surgery is expected to drive the studied market growth.

Therefore, owing to the aforementioned factors the studied market is predicted to see growth over the forecast period.

Key Market Trends

Anesthesia Boom by Product Type Segment is Expected Dominate the Market

Anesthesia booms are used commonly in hospital settings or any hybrid operating room setting due to their advantages. These anesthesia booms save space, create an orderly working environment, and increase efficiency inside the operating room. Hence, the anesthesia boom by product type segment is expected to dominate the market over the forecast period.

Also, the anesthesia boom accommodates surgeon's preferences for every surgical specialty, and these booms increase the operating room's flexibility and enable flexible patient positioning as convenient to the surgeon. The devices shortens the turnover times by arranging all surgical needs in a single place. In addition, some of the commercially available anesthesia booms come as ceiling supply units which save space, create a more orderly working environment, and increase workflow efficiency. By keeping cables, devices, and medical gas lines off the floor. Also, anesthesia booms ensure better access to the patient, a more flexible room configuration, and supply a safer working environment for hospital staff. Therefore, such benefits of the anesthesia booms are expected to drive the segment growth over the forecast period.

Therefore, such factors mentioned above are anticipated to drive the segment growth over the forecast period.

North America is Expected to Dominate the Market Over the Forecast Period

North America is expected to dominate the market. Factors such as the easy availability of technologically advanced products, and the high prevalence of minimally invasive surgeries coupled with increasing chronic diseases in the countries, are among other major factors responsible for the growth of the market in the region.

An increase in public and private healthcare expenditure, increase in the number of hospitals, and a rising number of surgeries are driving the overall growth of the surgical booms market in North America. For instance, the American Hospital Association (AHA) statistics show that the number of active hospitals in the United States increased from 5,534 in 2016 to 6,093 in 2020. Thus, a steep rise in the volume of hospitals and increasing hospital admissions drives demand for medical equipment such as surgical booms, thereby expected to drive the studied market growth in the country.

Furthermore, with the rising burden of chronic diseases, the Canadian government is investing heavily to improve the healthcare infrastructure. For instance, as per the press release published in July 2021 by the government of Canada, the governments of Canada and Quebec collaborated to invest in 209 infrastructure projects to modernize, redevelop, and upgrade health and social services institutions in Quebec, including hospitals, and other care centers. Also, the Federal Minister of Infrastructure and Communities and Minister of Health and Social Services announced a total of USD 188,3 million in funding for these 209 infrastructure projects. These investments demand the availability of advanced medical devices such as surgical booms in hospitals. In addition, The Government of Ontario, a province of Canada, has announced its plans to invest up to USD 53 million to support the development and construction of the new Grey Bruce Health Services Markdale Hospital, as part of the province's plan to end hallway health care. Hence, it is expected to boost the surgical booms demand as well in Canada.

Therefore, owing to the previously mentioned factors the growth of the studied market is expected in the North American region.

Competitive Landscape

The surgical booms market is moderately competitive and consists of several major players. In terms of market share, a few of the major players are currently dominating the market such as Zimmer Biomet, Stryker, Hill-Rom Services, Inc., Steris, Pratibha Medinox, Getinge (MAQUET Holding B.V. & Co. KG.), CV Medical LLC., Amico Group of Companies, Skytron, and Drager, among others.

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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rise in Demand for Robotic and other Minimally Invasive Surgeries
4.2.2 Emergence of Integrated and Hybrid Operating Rooms
4.2.3 Rising Prevalence of Chronic Diseases Coupled with Increase in Number of Hospital Admissions
4.3 Market Restraints
4.3.1 Low Adoption Rate of the Surgical Booms in Emerging Economies Due to High Cost
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Product Type
5.1.1 Equipment Boom
5.1.2 Anesthesia Boom
5.1.3 Utility Boom
5.1.4 Custom Boom
5.2 By Mobility
5.2.1 Mobile
5.2.2 Free Standing
5.3 By Installation
5.3.1 Floor Mounted
5.3.2 Roof Mounted
5.4 Geography
5.4.1 North America United States Canada Mexico
5.4.2 Europe Germany United Kingdom France Italy Spain Rest of Europe
5.4.3 Asia-Pacific China Japan India Australia South Korea Rest of Asia-Pacific
5.4.4 Rest of the World
6.1 Company Profiles
6.1.1 Zimmer Biomet
6.1.2 Stryker
6.1.3 Hill-Rom Services, Inc.
6.1.4 Steris
6.1.5 Pratibha Medinox
6.1.6 Getinge (MAQUET Holding B.V. & Co. KG.)
6.1.7 CV Medical LLC.
6.1.8 Amico Group of Companies
6.1.9 Skytron
6.1.10 Drager

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Zimmer Biomet
  • Stryker
  • Hill-Rom Services, Inc.
  • Steris
  • Pratibha Medinox
  • Getinge (MAQUET Holding B.V. & Co. KG.)
  • CV Medical LLC.
  • Amico Group of Companies
  • Skytron
  • Drager