Operating Room Equipment Market: Key Growth Factors and Opportunity Analysis by 2023

According to a new report titled "Operating Room Equipment Market by Treatment Type and End User: Global Opportunity Analysis and Industry Outlook for 2017-2023" published by Allied Market Research, the global operating room equipment market was $24,192 million in 2016. Has been rated as. , Is expected to reach $33,308 million by 2023 and is expected to grow at a CAGR of 4.5% from 2017 to 2023. North America is expected to be the highest revenue contributor during the forecast period.

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The operating room (OR) or operating room is designed for surgeons and surgical staff to perform surgical procedures that require time, patience, focus, and safety. Equipment used in the operating room consists of surgical imaging equipment, anesthesia machines, electrosurgical instruments, operating room lighting, and operating room tables. High-quality operating room equipment streamlines the work flow of the operating room and thus plays a pivotal role in the surgical environment.

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An increasing number of senior citizens worldwide and an increasing number of hospitals drive market growth. In addition, increasing preference for minimally invasive surgery and increasing regulatory approvals for operating room equipment are expected to drive the operating room equipment market. However, the high costs associated with operating room equipment and unfavorable healthcare reforms, especially in the United States, are expected to hinder market growth.

Electrosurgical devices are expected to grow fastest during the analysis period as the number of surgical procedures increases. Additionally, the outpatient surgery center segment is expected to be the fastest growing end-user segment with a CAGR of 6.2% from 2017 to 2023 due to its cost-effective yet very appropriate setup.

By region, North America dominated the market in 2016 and is expected to maintain the lead throughout the forecast period. North America and Asia Pacific regions accounted for about 63% of the total operating room equipment market in 2016. The growth of these regions is due to the availability of affordable health care services for many disease conditions in countries such as Mexico, Thailand and Malaysia. , India and Singapore. However, the Asia Pacific region is the fastest growing region behind LAMEA due to the increasing treatment success rate and the low price range associated with surgical procedures.

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Key Results of the Operating Room Equipment Market:
• In 2016, surgical imaging devices generated the highest revenues, accounting for about 2/5 of the total market revenue and are expected to grow by an average of 2.4% per year over the forecast period.
• Electrosurgical devices are expected to grow at an above-average annual growth rate of 7.8% as the number of skilled practitioners in the field increases.
• North America accounted for more than 40% of the market share in 2016.
• Asia Pacific is expected to be the fastest growing market during the analysis period, followed by LAMEA.

The main companies featured in the report include Steris Corporation, Stryker Corporation, Koninklijke Philips NV, Getinge Group, Hill-Rom Holdings, Inc., Drgerwerk AG & Co. KGaA, General Electric Company, Medtronic, plc, Mizuho SOI and Karl Storz. GmbH & Co. Kg.

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