Operating Room Equipment arket to Reflect Impressive Growth by 2023 | Top Worldwide Key Players – Steris Corporation, Stryker Corporation, Koninklijke Philips N.V., Getinge Group, Hill-Rom Holdings, Inc., Drägerwerk AG & Co. KGaA and more

The operating room equipment market is expected to reach $ 33.38 billion by 2023, an annual average growth of 4.5% from 2013 to 2023. North America is expected to have the highest revenue contribution over the forecast period.
The operating room (OR) or operating theater is designed to allow surgeons and surgeons to perform surgeries that require time, patience, concentration and safety.

The equipment used in the operating room consists of a surgical imaging device, an anesthesia machine, an electrosurgical device, operating room lights, and an operating room table. Quality or equipment plays a pivotal role in surgical settings because it streamlines workflow in the operating room.

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The major companies profiled in the report include
 Steris Corporation
 Stryker Corporation
 Koninklijke Philips N.V.
 Getinge Group
 Hill-Rom Holdings Inc.
 Drgerwerk AG & Co. KGaA
 General Electric Company
 Medtronic plc
 Mizuho SOI
 Karl Storz GmbH & Co. Kg.

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The increase in the world's elderly population and the increase in the number of hospitals promote market growth. It is also expected to drive the operating room equipment market with increased preference for minimally invasive surgery and increased regulatory approvals for OR equipment. However, high costs associated with OR equipment and inadequate healthcare reforms, particularly in the United States, are expected to hamper market growth.

Electrosurgical devices are expected to grow the fastest during the analysis period due to the increase in number of surgical operations. In addition, the outpatient surgery center sector is expected to be the fastest growing end-user segment with a CAGR of 6.2% from 2017 to 2023. This is because of the cost-effective but critically-appropriate settings provided by this center.

By region, the North American market was dominant in 2016 and is expected to remain at the forefront throughout the forecast period. North America and the Asia-Pacific region accounted for 63% of the total operating room equipment market in 2016. Growth in this region is due to affordable disease treatment in Mexico, Thailand and Malaysia, India and Singapore. However, the Asia-Pacific region followed by LAMEA is the fastest growing region due to the increased success rates of treatment and lower prices for surgical procedures.

Key Findings of the Operating Room Equipment Market:
• In 2016, surgical imaging devices generated the highest revenue, accounting about two-fifths of the overall market revenue and is projected to grow at a CAGR of 2.4% during the forecast period.
• Electrosurgical devices is expected to grow at an above-average CAGR of 7.8%, owing to increased number of skilled medical personnel in the field.
• North America accounted for more than 40% of the market share in 2016.
• Asia-Pacific is anticipated to be the fastest growing market during the analysis period, followed by LAMEA.

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