Operating Room Equipment Market is poised to grow US$ 51.8 Bn by 2026, TMR
The global operating room equipment market was valued at around US$ 29,912.3 Mn in 2017 and is anticipated to reach US$ 51,858.7 Mn by 2026, expanding at a CAGR of 6.4% from 2018 to 2026.
An operating room, also known as operation theatre (OT), is a facility within a hospital or nursing home where surgical procedures are performed in order to treat different physiological conditions in a sterile environment. Technological advancements have brought a lot of change in the way surgical procedures are performed. An operating room encompasses equipment such as movable imaging systems, biomedical systems, endoscopes, anesthesia systems, and operating tables. Along with operating room lights, surgical imaging displays, operating room equipment integration systems, surgical booms, and microscopes are also important equipment required in an OT.
Increasing investments, by government bodies have led to the development & adoption of advanced operating room equipment. . Moreover, the global operating room equipment market is poised to grow at a moderate pace in the coming years owing to the increase in patient preference for minimally invasive surgeries and rise in global geriatric population.
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Significant advantages associated with the global operating room equipment market and financial incentives by governments of various countries are major factors driving the global operating room equipment market. Benefits of proper operating room equipment encompass accurate and up-to-date patient handling, enhanced patient safety, saving time and long-term cost savings. These advantages encourage health care providers to equip themselves with technically advanced operating room equipment, which in turn drive the global operating room equipment market.
Operating rooms (OR) or operating theatres are designed for surgeons and surgical staff to perform surgical procedures that require time, patience, focus, and safety. AN OR consists of the following surgical equipment: surgical imaging devices, anesthesia machines, electrosurgical devices, operating room lights, operating room tables, and others. Quality OR equipment plays a pivotal role in surgical settings as they streamline the workflow.. These are some additional points that favor growth in the global operating room equipment market.
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Increase in global elderly population & rise in number of hospitals boost the global operating room equipment market’s growth. In addition, rise in preference for minimally invasive surgeries and ease in obtaining regulatory approvals for OR equipment will drive the global operating room equipment market. However, high cost associated with or equipment and unfavorable healthcare reforms, especially in the U.S., will hamper the market growth.
Rapid technological advancement has brought many changes in the way of surgical procedures which are carried out today around the globe. Operating rooms are becoming more commodious with new and advanced operating equipment that have become an essential part of modern hybrid operating rooms. The market classifies by growing demand for technically advanced the global operating room equipment market as healthcare providers worldwide are increasingly adopting the concept of hybrid operating rooms.
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North America held a major share of the global market, in terms of revenue, and is expected to maintain its position during the forecast period. High awareness about latest health care technologies and higher purchasing power are projected to boost the operating room equipment market in North America.
The operating room equipment market in Asia Pacific is expected to expand at a rapid pace, primarily due to improving healthcare infrastructure, and growing demand for state-of-the-art hybrid operating rooms.
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