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Operating Room Equipment Market Overview, Key Leading Players, Trends Analysis, Industry Share And Forecast To 2033
Operating Room Equipment Market Overview
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According to The Business Research Company's, 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 growth in the historic period can be attributed to rapid growth in the elderly population, favorable government decisions and increased healthcare spending and by 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 growth in the forecast period can be attributed to faster economic growth, growing demand for minimally invasive surgery, increasing demand for critical care equipment, increase prevalence of chronic diseases and government initiatives and efforts towards insurance reforms . Major trends in the forecast period include development of customized mpms, implementing the evoked potential assessment device (epad) technology in neuromonitoring devices used in surgeries, offering next generation ultrasonic surgical devices to simplify complex surgical procedures, offering multi -modal surgical devices to optimize and consolidate the use of multiple devices with single instrument and opting for pay per use models to reduce operational costs.
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Market Drivers and Trends:
The operating room (OR) equipment market is driven globally by the increase in ambulatory surgical centres (ASCs) across the world. All ASCs require an operating room (OR) to undertake the surgeries; therefore the growing number of ASCs all over the world is a key factor facilitating the growth of the market for OR equipment.
The hybrid operating room is a new trend being observed in the global operating room market. A hybrid operating room is an alternative to a conventional operating room equipped with advanced medical imaging systems and devices which support high-quality interventional imaging and minimally invasive surgeries. It has a complex environment in which numerous surgeons, nurses, anesthesiologists, and technicians work together. Hybrid operating rooms in healthcare facilities have increased globally. Since they offer a sterile operating room environment, surgeons can perform surgeries with ease. The ability of these operating rooms to reduce the total healthcare expenditure, enhance patient safety, and minimize the time taken to perform surgeries will lead to its increased popularity in the fields of neurosurgery, cardiology, and orthopedics.
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Major Key Players of the Market:
Sinopec, Saudi Aramco, Exxon Mobil, Chevron, Total SA, PetroChina, BP plc, Royal Dutch Shell, Valero Energy Corp, PJSC Gazprom, Indian Oil Corporation Limited, Oil and Natural Gas Corporation, Bharat Petroleum, Reliance Petroleum Ltd, Eneos Holdings, China National Petroleum Corporation, Shaanxi Yanchang Petroleum, Sinochem Group, China National Offshore Oil Corporation, TotalEnergies SE, Wintershall Dea GmbH, Repsol SA, Glencore International AG, Eni SpA, Edison, Enel X, Erg, Rosneft Oil Co, Lukoil Oil Co, Surgutneftegas, Tatneft, Novatek, Irkutsk Oil Company, OMV Petrom, PKN Orlen, Lotos Group, Moravské naftové doly, ConocoPhillips, Anadarko Petroleum Corporation, Occidental Petroleum Corporation, EOG Resources, Cimarex Energy, Pioneer Natural Resources, Suncor Energy Inc, Cenovus Energy Inc, Canadian Natural Resources Limited, AltaGas Ltd, Petrobras (Petróleo Brasileiro S.A.), QGEP Participações S.A., Petrogal Brasil S/A, Petronas Petróleo Brasil Ltda, EQUINOR ENERGY DO BRASIL LTDA., Emirates National Oil Company (ENOC), Dubai Petroleum., Emirates General Petroleum Corporation (Emarat), Abu Dhabi National Energy Company (TAQA), Abu Dhabi National Oil Company (ADNOC), EMDAD Services LLC., Crescent Petroleum., Dana Gas., Egyptian General Petroleum Corporation, Egyptian Natural Gas Holding Co, Nigerian National Petroleum Corporation, Aiteo, Sasol Limited, Engen Petroleum Limited, African Exploration Mining and Finance Corporation, Tullow Oil, National Oil Corporation of Kenya.
Operating Room Equipment Market 2024 Key Insights:
• 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%.
• Global Expansion Of Ambulatory Surgical Centers Drives Growth In The Operating Room Equipment Market
• Rising Popularity Of Hybrid Operating Rooms Revolutionizes Surgical Practices Worldwide
• North America was the largest region in the global operating room equipment market in 2023
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