Operating Room Equipment Global Market Report 2024

The operating room equipment market size has grown strongly in recent years. It will grow from $17.13 billion in 2023 to $18.33 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The historic period's growth can be attributed to the swift expansion of the elderly population, favorable government decisions, increased healthcare spending, and rapid growth in emerging markets.

The operating room equipment market size is expected to see strong growth in the next few years. It will grow to $23.39 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The forecast period's growth can be attributed to faster economic growth, a growing demand for minimally invasive surgery, increasing demand for critical care equipment, the prevalence of chronic diseases, and government initiatives and efforts toward insurance reforms. Major trends in the forecast period include the development of customized MPMS, the implementation of Evoked Potential Assessment Device (EPAD) technology in neuromonitoring devices used in surgeries, the offering of next-generation ultrasonic surgical devices to simplify complex surgical procedures, the offering of multi-modal surgical devices to optimize and consolidate the use of multiple devices with a single instrument, and opting for pay-per-use models to reduce operational costs.

The global growth of the operating room (OR) equipment market is propelled by the increasing number of ambulatory surgical centers (ASCs) worldwide. As all ASCs require operating rooms (ORs) for surgeries, the expanding prevalence of ASCs globally is a significant factor contributing to the market's growth.

The rising incidence of chronic diseases that necessitate surgeries is expected to drive the growth of the operating room equipment market in the future. Chronic diseases, characterized by long-lasting medical conditions persisting for three months or more, often require surgical interventions. The demand for operating room equipment is increasing to facilitate precise and effective surgical procedures, ultimately enhancing patient outcomes. For instance, as of September 2022, the World Health Organization (WHO) reported 41 million annual deaths globally, with 74% attributed to chronic diseases. This includes 17.9 million deaths from cardiovascular diseases, 9.3 million from cancer, 4.1 million from chronic respiratory diseases, and 2.0 million from diabetes. Thus, the growing incidence of chronic diseases requiring surgeries is a key driver for the operating room equipment market's growth.

The hybrid operating room represents a notable trend in the global operating room market, offering an innovative alternative to conventional operating rooms. Hybrid operating rooms are equipped with advanced medical imaging systems and devices that support high-quality interventional imaging and minimally invasive surgeries. This complex environment facilitates collaborative work among surgeons, nurses, anesthesiologists, and technicians. The prevalence of hybrid operating rooms in healthcare facilities has been on the rise globally. These rooms, providing a sterile operating environment, enable surgeons to perform surgeries more efficiently. Their ability to reduce overall healthcare expenditure, enhance patient safety, and streamline surgery duration contributes to their growing popularity, especially in fields such as neurosurgery, cardiology, and orthopedics.

Major companies in the operating room equipment market are engaging in strategic partnerships to address the needs of operative care facilities. A strategic partnership involves a formalized relationship between two commercial enterprises through one or more business contracts. For example, in July 2022, Skytron, a US-based healthcare safety and efficiency company, formed a partnership with Arthrex, a Germany-based surgical technology company. This collaboration aims to deliver a comprehensive room equipment solution, offering capital equipment, architectural systems, and real-time clinical business intelligence for surgical, sterile processing, and inpatient settings.

In December 2021, Baxter, a US-based healthcare company, acquired Hillrom for a deal valued at $15 billion. This acquisition brings together two leading MedTech organizations, sharing a vision to transform healthcare and advance patient care on a global scale. Hillrom is a US-based medical technology provider.

Major companies operating in the operating room equipment market report are Medtronic PLC, Olympus Corporation, General Electric Company, Stryker Corporation, Koninklijke Philips N.V., Getinge AB, Drägerwerk AG, Hill-Rom Holdings Inc., Nihon Kohden Corporation, Steris PLC, STAAN Bio-Med Engineering Private Limited, GE Healthcare, Covidien Healthcare, Philips Healthcare, Fisher & Paykel Healthcare, Smiths Medical, Metran Co. Ltd., Siemens Healthcare, Opto Circuits, Fukuda Denshi, Canon Medical Systems, Nipro, Honeywell, Mindray, AlsoEnergy, Boston Scientific, Abbott Laboratories, Fresenius, Thermo Fisher Scientific, DePuy Synthes, Simeon Medical GmbH & Co. KG, Steris Corporation, EMTEL, Teleflex Incorporated, Stryker, Johnson & Johnson LLC, Alvo Medical, Mizuho OSI, Karl Storz gmbh & co, KLS Martin Group, ResMed Inc.

North America was the largest region in the global operating room equipment market in 2023. Western Europe was the second largest market in operating room equipment market. The regions covered in the operating room equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the operating room equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The primary categories of operating room equipment include anesthesia devices, endoscopes, operating room lights, operating tables, electrosurgical devices, surgical imaging devices, and patient monitors. An endoscope is an illuminated optical instrument designed for in-depth examination inside the body. It can be either rigid or flexible and is employed to inspect organs such as the throat or esophagus. These tools find applications in diverse surgical fields, including cardiovascular surgery, thoracic surgery, neurosurgery, and others. They are utilized by various end-users, such as hospitals, outpatient facilities, and ambulatory surgery centers.

The operating room equipment market research report is one of a series of new reports that provides operating room equipment market statistics, including operating room equipment industry global market size, regional shares, competitors with an operating room equipment market share, detailed operating room equipment market segments, market trends and opportunities, and any further data you may need to thrive in the operating room equipment industry. This operating room equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The operating room equipment market consists of sales of surgical beds, operating tables, operating table accessories, operating room lights, operating room integration systems, and equipment management systems. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.