Operating Room Equipment Market: The massive presence of an overseas patient pool due to the rise of medical tourism is creating an optimistic scope of growth for both hospitals and operating room equipment sales

The operating room equipment market report evaluates each of the segments and its sub-categories in detail for market trends, recent developments, outlook, and opportunities. The market overview section of the report explores market dynamics such as drivers, restraints, and opportunities that currently have strong impact on the global operating room equipment market and could influence the market in future as well.

The global operating room equipment market is expanding at a CAGR of 6.68% within a forecast period from 2015 to 2023. This market will be valued above US$42 bn in 2023, after being recorded around US$24 bn in 2014. A major contribution to this growth rate is made by the movable imaging products segment, which is progressing at a CAGR of 8.20% within the same forecast period.

About 42% of the global operating room equipment market was in the hands of a large number of regional players in 2014, finds Transparency Market Research (TMR) in a new study. This highly fragmented market witnesses a towering presence of about five key players – including Siemens Healthcare, Stryker Corporation, and GE Healthcare – that hold significant shares from the remainder. GE Healthcare, for instance, held close to 19% of the operating room equipment revenues in 2014, which was the single largest in that year.

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According to Transparency Market Research, all key players are showing a common trait of heavy investments in research and development in operating room equipment innovations. Successful innovations have allowed these players to maintain major revenue shares for the time being.

Push for Ambulatory Surgical Centers Expected to Propel Operating Room Equipment Demand

Ambulatory surgical centers (ASCs) are a relatively modern approach towards out-patient surgical solutions. They cater specifically to those surgical procedures that do not require a patient to stay overnight in a hospital.

“In the U.S., in 2012, there were more than 5,000 Medicare-approved ASCs, as the Centers of Medicare and Medicaid Services had revealed. There was a rise in 24% for the Medicare payments made to ASCs between 2007 and 2012,” explains a TMR analyst. “This establishes the already set importance of ASCs in developed economies, and the demand for ASCs is only expected to grow even further over the coming years,” she adds. As a result, vendors of operating room equipment are expected to find a high scope of growth in similar regions.

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Players Can Look to APAC and LATAM for Bigger Opportunities

High population density and rapidly improving healthcare infrastructure are the two biggest reasons for globally present companies for operating room equipment to find sustainable options in the Asia Pacific and Latin America regions. “This applies especially to India, where the rapid growth of multispecialty hospitals is creating a high demand for hybrid operating rooms. Fortis Healthcare, Wockhardt Hospitals, and Apollo Hospitals, to name a few, are where entrants to Asia Pacific can look to,” says the analyst.

Additionally, the massive presence of an overseas patient pool due to the rise of medical tourism is creating an optimistic scope of growth for both hospitals and operating room equipment sales. In the case of Brazil, Mexico, and other Latin American countries hold a high percentage of unmet medical needs. This gap in supply and demand, coupled with the growing healthcare expenditure through improved disposable incomes of patients will be beneficial for the proliferation of operating room equipment providers in the region.

Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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This release was published on openPR.