Operating Room Equipment Market - Know the Latest Profit Sources of the Industry

Operating Room Equipment Market Outlook 2031

The global operating room equipment market was valued at US$ 35.2 Bn in 2021
The global market is projected to expand at a CAGR of 4.6% from 2022 to 2031
The global operating room equipment market is anticipated to exceed US$ 56.8 Bn by 2031

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Precautionary Measures Grow Prominent in Operating Rooms amid COVID-19 Outbreak

Due to the COVID-19 pandemic, healthcare organizations have been stressing on the importance of operating room management. Healthcare companies in the operating room equipment market have been ensuring robust operation theatre supplies across facilities to maintain patient quality of life.

Operating room theatre personnel are taking precautions such as utilizing personal protective equipment (PPE), pre-operative planning, and assessing negative pressure ventilation in operating theaters (OTs). Healthcare facilities are ensuring limited personnel in operating rooms and deployment of single-use equipment to avoid hospital-acquired infections (HAIs) and dedicated COVID-19 theaters to reduce the spread of the novel infection. Moreover, healthcare practitioners are making the use of regional anesthesia to minimize the duration of surgery.

Are Emerging Economies Lacking Healthcare Infrastructure for Patient Monitoring?

Companies in the operating room equipment market are providing leading-edge patient monitoring equipment such as surgical imaging displays and vital signs monitoring devices in hospitals. 3D (3 dimensional) endoscopes are storming operating theaters where in the near future, surgeons will be seen wearing 3D glasses that hold potentials to solve limited depth perception in endoscopic surgeries.

Although 3D surgical imaging is anticipated to become more commonplace in OTs, there is a need for investment to build a robust healthcare infrastructure in developing countries such as India, Bangladesh, Vietnam, and the Philippines. Hence, companies in the operating room equipment market should collaborate with governments in these countries and invest in building healthcare facilities to improve overall public health in emerging economies.

Hybrid O.R., Digital O.R. and Integrated O.R. Transforming Healthcare Industry

Hybrid operating rooms, digital operating rooms, and integrated operating rooms are playing an instrumental role in improving patient outcomes. Hybrid O.R. is being publicized for use of mobile systems that offer advantages of flexibility in use of imaging systems during surgeries. Such innovations are fueling the demand for operating room supplies.

Digital O.R. on the other hand is gaining popularity for next-gen setup of software sources, images, and O.R. video integration, all at the same time. However, operating room integration system manufacturers are focused on automation of O.R. equipment, imaging devices, and patient information systems.

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Hospitals Catalyzing Demand for Next-gen Surgical and O.R. Lights

The high prevalence of chronic diseases in patients worldwide is fueling the demand for equipment for operation theatres. Manufacturers in the global operating room equipment market are innovating in operating room lights, surgical lights, and hospital lights to ease healthcare services for surgeons, healthcare staff, and practitioners. Surgical lights help to illuminate the operative site on a patient for optimal visualization during a procedure.

Operating room lights including luminance management device (LMD) are being developed by med-tech companies. Advantages of LMD include same luminance irrespective of the tissue, constant illumination during time-consuming surgeries, and automatic light adjustment to suit the surgeon's ability and comfort.

Innovations in Operating Room Instruments and O.R. Tables Propelling Global Market

One of the most commonly used operating room instruments is surgical instruments. Manufacturers are increasing output capacities for ratcheted forceps, babcock forceps, and gillies forceps, among others. An alarmingly high number of cardiovascular patients, diabetic patients, and obese patients are translating into revenue opportunities for surgical instrument manufacturers in the operating room equipment market.

The operating room equipment market is undergoing a significant change with innovations in operating tables. Manufacturers are developing O.R. tables such as orthopedic tables, general surgical tables, and radiolucent imaging tables to revolutionize healthcare facilities. Since the healthcare industry largely runs on faith between surgeons, doctors, and patients, robust operating room supplies has become the need of the hour in hospitals and ambulatory surgical centers.

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North America Emerges as Frontrunner in Terms of High Market Revenue

Operating rooms (O.R.) are one of the most crucial departments in any given healthcare facility such as hospitals and ambulatory surgical centers. Since hospitals in North America are known for their favorable reimbursement policies and government support, healthcare corporations are enabling robust surgical supplies in healthcare systems to improve patient outcomes.

Healthcare companies are increasing the availability of operating room supplies such as instruments used for surgery and anesthesia systems to ensure the smooth functioning of healthcare facilities. These companies in the operating room equipment market are providing healthcare facilities with next-gen ordering and inventory tools that help track expenses in the facility and enter purchase order as per requirement.

Operating Room Equipment Market: Overview

Operating rooms are developed for surgeons and surgical staff to perform surgical operations, which require time, patience, focus, and safety. Various pieces of equipment are required for use in the operating room. Operation theatres should ideally have equipment such as suction machine sterilizer machine, defibrillators, oxygen concentrators, anesthesia machine, operation table, and light at their disposal to ensure that all surgical procedures are conducted safely in the hospital.

An operating room consists of operating room supplies, surgical supplies & operation theatre supplies. The demand for equipment in operation theatre is continuously rising due to increase in number of surgeries.

Operating rooms supplies primarily consist of instruments used for surgery such as advanced operating tables, hospital lights, operating room lights, high resolution and high definition surgical imaging displays, and movable imaging systems that have become an indispensable part of modern hybrid operating rooms.

High demand for hybrid operating room and improving healthcare infrastructure in developing countries are projected to drive the global market during the forecast period. Hybrid operating rooms consist of operating room integration systems where surgical functions are performed.

The global operating room equipment market was valued at US$ 35.2 Bn in 2021. Rise in need to offer better patient care system in a sterile environment across different healthcare units is one of the basic factors driving the global operating room equipment market.

Healthcare professionals and surgeons are increasingly demanding operating rooms equipped with technically advanced devices such as movable imaging systems, biomedical systems, endoscopes, anesthesia systems, operating tables, operating room lights, surgical imaging displays, operating room integration systems, surgical booms, and microscopes that provide ease of handling and greater flexibility to ensure better operational efficiency and patient care. This, in turn, is likely to augment the global operating room equipment market.

Increase in cases of pathological and physiological diseases has led to a rise in the number of surgeries. Moreover, minimally invasive surgeries are gaining popularity among patients for their multiple benefits including cost-effective procedures, minimal trauma, and reduced hospital stay. These factors increase the need to upgrade operating rooms with better and efficient equipment, which in turn is anticipated to contribute to the growth of the global operating room equipment market.

Rise in availability and accessibility of healthcare facilities, especially in developing countries, and government initiatives to increase number of hospitals and enhance medical tourism are expected to fuel the growth of the global operating room equipment market

Manufacturers in the operating room equipment industry focus on incorporating innovative technologies in various medical devices for enhanced operational efficiency. Increase in adoption of devices equipped with virtual reality and patient imaging scans in the healthcare sector is likely to create lucrative opportunities in the global operating room equipment market.

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Improving Healthcare Infrastructure in Emerging Economies

Health care infrastructure in emerging economies is developing at a rapid pace owing to increase in government initiatives, entry of private players in the health care and hospitals segment, rise in per capita health care spending, and expansion of the hospital network

According to the Ministry of Health of the Republic of Kazakhstan, health care expenditure in the country is rising at a rapid rate of 12.2%, and the country has built more than 1,300 health care facilities, including 907 clinics, 180 health centers, and 176 hospitals during a period of 25 years.

Other countries in Asia Pacific have demonstrated comparatively higher growth in health care spending, for example Indonesia (7.9%), India (9.4%), and Vietnam (6.6%)

Emerging economies including China, Vietnam, Thailand, India, and Kazakhstan engage in developing a robust and at-par hospital infrastructure and offering quality care to patients

Rapidly developing hospitals and health care infrastructure combined with new and advanced product offerings by leading players is expected to augment the global operating room equipment market during the forecast period.
Hospitals to Remain Key End-user

The hospitals end-user segment led the global operating room equipment market in 2021. The segment is anticipated to account for around 72% share of the global market by 2031. The hospitals segment is expected to expand at a CAGR of 6.6% from 2022 to 2031.

Hospitals emphasize on investing in the upgrade of operation theaters, as these are one of the major sources of revenue. Additionally, rise in demand for hybrid operating rooms and increase in investments in infrastructure & advanced technologies for efficient outcomes are expected to drive the hospitals segment.

In March 2017, Saint Michael's Medical Center, New Jersey, invested over US$ 21 Mn in its systems and medical equipment to enhance and modernize the hospital and make it technologically advanced. The new equipment installed in the operation theatre include operating towers, high-resolution monitors, endoscopic towers, and C-arms.

Each of the segments has been analyzed in detail for market trends, recent trends, and developments, drivers, restraints, opportunities, and useful insights. The operating room equipment market report provides current and expected revenue (US$ Mn) for each of these segments from 2017 to 2031, considering 2020 as the base year. The compound annual growth rate (% CAGR) has been provided for each segment and market from 2022 to 2031 along with market size estimations.

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Major Players in Operating Room Equipment Market

The operating room equipment market report concludes with the company profiles section, which includes key information about major players in the global operating room equipment market

Leading players analyzed in the report include
Stryker Corporation
Hill-Rom Holdings, Inc.
SKYTRON
STERIS plc.
Dragerwerk AG & Co. KGaA
Getinge AB
GE Healthcare
Koninklijke Philips N.V.
Smiths Medical
Mizuho OSI
STORZ MEDICAL AG

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