Operating room (OR) is a medical facility where patients undergo surgical interventions and procedures to treat a variety of pathological and physiological disorders. OR provides a safe, inert, and sterile environment to execute surgeries. OR has changed significantly in the last decade, with improved equipment such as surgical navigation systems streamlining processes. Surgeons and interventionalists have more freedom and ease of handling in an OR with technologically improved equipment. ORs with precise instruments and equipment provide better patient care as well as increased operating efficiency.
The major factors that drive the growth of the global OR equipment market include increase in number of hospitals, rise in investment in OR equipment, and surge in global geriatric population. In addition, regulatory approvals for different OR equipment and rise in patient preference for minimally invasive surgeries propel the market growth. However, high costs of OR equipment and patient safety concerns in ORs are expected to impede the market growth. Conversely, untapped potential of emerging markets and technological advancements with respect to OR equipment are anticipated to provide lucrative opportunities to the market players
The global operating room equipment market is segmented into product type, end user, and region. According to product type, the market is categorized into anesthesia machines, electrosurgical devices, multi-parameter patient monitors, surgical imaging devices, operating tables, operating room lights, and surgical navigation system. By end user, it is segregated into hospitals, outpatient facilities, and ambulatory surgical centers. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major companies profiled in the report include the Steris Corporation, Stryker Corporation, Koninklijke Philips N.V., Getinge Group, Hill-Rom Holdings, Inc., Drägerwerk AG & Co. KGaA, General Electric Company, Medtronic, Plc., Mizuho SOI, and Karl Storz GmbH & Co. Kg.
The major factors that drive the growth of the global OR equipment market include increase in number of hospitals, rise in investment in OR equipment, and surge in global geriatric population. In addition, regulatory approvals for different OR equipment and rise in patient preference for minimally invasive surgeries propel the market growth. However, high costs of OR equipment and patient safety concerns in ORs are expected to impede the market growth. Conversely, untapped potential of emerging markets and technological advancements with respect to OR equipment are anticipated to provide lucrative opportunities to the market players
The global operating room equipment market is segmented into product type, end user, and region. According to product type, the market is categorized into anesthesia machines, electrosurgical devices, multi-parameter patient monitors, surgical imaging devices, operating tables, operating room lights, and surgical navigation system. By end user, it is segregated into hospitals, outpatient facilities, and ambulatory surgical centers. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major companies profiled in the report include the Steris Corporation, Stryker Corporation, Koninklijke Philips N.V., Getinge Group, Hill-Rom Holdings, Inc., Drägerwerk AG & Co. KGaA, General Electric Company, Medtronic, Plc., Mizuho SOI, and Karl Storz GmbH & Co. Kg.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the operating room equipment market analysis from 2020 to 2030 to identify the prevailing operating room equipment market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the operating room equipment market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global operating room equipment market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Electrosurgical Devices
- Multi-parameter Patient Monitors
- Surgical Imaging Devices
- Operating Tables
- Operating Room Lights
- Surgical Navigation Systems
- Anesthesia Machines
BY END USER
- Hospitals
- Outpatient Facilities
- Ambulatory Surgical Centers (ASCs)
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Rest of Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- MIZUHO OSI
- KONINKLIJKE PHILIPS N.V.
- GENERAL ELECTRIC COMPANY
- KARL STORZ GMBH & CO. KG
- MEDTRONIC PLC
- STERIS PLC
- STRYKER CORPORATION
- HILL ROM HOLDING INC. (WELCH ALLYN Inc.)
- DRÄGER SAFETY AG & CO. KGAA
- GETINGE GROUP
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: OPERATING ROOM EQUIPMENT MARKET, BY TYPE
CHAPTER 5: OPERATING ROOM EQUIPMENT MARKET, BY END USER
CHAPTER 6: OPERATING ROOM EQUIPMENT MARKET, BY REGION
CHAPTER 7: COMPANY LANDSCAPE
CHAPTER 8: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Operating Room Equipment Market,' the operating room equipment market was valued at $16.4 billion in 2020, and is estimated to reach $27.4 billion by 2030, growing at a CAGR of 5.3% from 2021 to 2030.Operating room (OR) in medical settings refers to a facility wherein different surgical procedures are performed for the treatment of diverse pathological and physiological conditions in a sterile environment. OR comprises technically efficient and easy-to-use equipment for routine interventions. ORs equipped with precise instruments and equipment ensure better patient care and enhanced operational efficiency. OR equipment in operating room equipment market analysis refer to an array of different capital-intensive instruments and systems that holistically aid in executing surgical interventions. Some of these equipment include anesthesia devices, electrosurgical units, surgical imaging devices, multiparameter patient monitoring devices, and surgical navigation systems and driving the operating room equipment market growth.
The major driving factors of operating room equipment share include increase in number of surgical procedures throughout the world and implementation of regulatory approvals for OR equipment in operating room equipment market size. Furthermore, rise in patient preference for minimally invasive surgeries is expected to supplement the market growth. However, high costs of OR equipment and patient safety concerns in the operating room are expected to impede the market growth. On the contrary, untapped potential of emerging markets and technological advancements with respect to OR equipment are protected to provide lucrative opportunities to the market players.
On the basis of product type, the market is categorized into anesthesia machines, electrosurgical devices, multi-parameter patient monitors, surgical imaging devices, operating tables, operating room lights, and surgical navigation systems. The electrosurgical devices segment is expected to dominate the market throughout the forecast period, owing to increase in number of surgical procedures. However, the surgical imaging devices segment is expected to register a CAGR of 4.9% during the operating room equipment market forecast period, owing to their sheer usage and availability in surgical settings.
Depending on end user, the ambulatory surgical centers segment dominated the market in 2020. This segment is expected to exhibit a prominent growth rate, owing due to these centers enable a safe, cost-effective, and patient-friendly environment for the endowment of medical services such as colonoscopy, colorectal cancer screening, and others for patients of all age groups.
Region wise in operating room equipment industry, North America accounted for more than 5.2% of the global operating room equipment market share in 2020, and is expected to remain dominant throughout the forecast period. This was attributed to technological advancements operating room equipment industry, increase in availability of ORE in this region, and availability of affordable medical treatments for several disease conditions. Asia-Pacific is projected to register the highest CAGR of 6.1% during the forecast period, owing to increase in treatment success rates and the affordable price range with respect to surgical procedures.
Key findings of the Study
- By product, the electrosurgical devices segment was the highest contributor to the market in 2020.
- On the basis of end user, the ambulatory surgical centers segment dominated the market in 2020, and is expected to continue this trend during the forecast period.
- Region wise, North America garnered the largest revenue share in 2020, however, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
Companies Mentioned
- MIZUHO OSI
- KONINKLIJKE PHILIPS N.V.
- GENERAL ELECTRIC COMPANY
- KARL STORZ GMBH & CO. KG
- MEDTRONIC PLC
- STERIS PLC
- STRYKER CORPORATION
- HILL ROM HOLDING INC. (WELCH ALLYN Inc.)
- DRÄGER SAFETY AG & CO. KGAA
- GETINGE GROUP
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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