Operating Room Equipment Market: Business Challenges, Emerging Technologies & Competitive Landscape

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. Market attractiveness analysis has been provided in the market overview section in order to explain the intensity of competition between leading market players operating across the globe. All these factors would help market players to take strategic decisions in order to strengthen their market positions and increase their correspondent market shares.

The recommendations section included in the report would assist existing market players in targeting all major stakeholders in this industry such as companies and hospitals. The report also profiles major players in the global operating room equipment market based on various attributes such as company details, business overview, financial facts, business strategies and recent developments.

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The operating room equipment market report analyzes the current and future prospects of the global market. The operating room equipment market comprises movable imaging systems, biomedical systems, endoscopes, anesthesia systems, operating tables, operating room lights, surgical imaging displays, operating room integration systems, surgical booms, and microscopes. The growth of the overall market is due to rise in number of hospitals, growing number of ambulatory surgical centers, surge in demand for hybrid operating rooms, growing number of regulations for operating room equipment, and increase in number of geriatric population coupled with high number of surgeries worldwide. Globally, the operating room equipment market has been experiencing steady growth and the trend is expected to continue during the forecast period from 2015 to 2023.

Based on product type, the operating room equipment market has been segmented into movable imaging systems, biomedical systems, endoscopes, anesthesia systems, operating tables, operating room lights, surgical imaging displays, operating room integration systems, surgical booms, and microscopes. The market segments have been extensively analyzed based on usefulness, efficacy, revenue, and geographical coverage. The market size and forecast in terms of US$ Mn for each segment has been provided for the period from 2013 to 2023. The report also provides the compound annual growth rate (CAGR %) for each market segment for the forecast period from 2015 to 2023.

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Additional information, such as recent developments in operating room equipment, market dynamics, and value chain analysis, in the market overview chapter provides details to assist new and existing players to venture and explore latent market opportunities in the near future. This report provides in-depth analysis of the global operating room equipment market. The stakeholders for this report include companies involved in the research and development and application. In order to provide a snapshot of this market to stakeholders, this report includes an executive summary section, which summarizes the market size, trends, and competition for different regions.

Major drivers of demand and growth of the operating room equipment market include growing number of ambulatory surgical centers, product innovations driven by advances in technology, rising demand for hybrid operating room, and increase in the number of surgeries. Apart from this, innovations related to patient handling techniques will propel the operating room equipment market in the next few years. Major restraints of the market include high cost of operating room equipment. However, the report also highlights various opportunities that are expected to boost market growth during the forecast period.

The operating room equipment market report also includes recommendations section that will assist new companies to establish their presence and existing players to expand their market shares. Key players in the operating room equipment market include Allen Medical (Hill ROM), GE Healthcare, KARL STORZ GmbH & Co. KG, Mizuho OSI, Maquet Holding B.V. & Co. KG (Getinge AB), Olympus Corporation, Philips Healthcare, Siemens Healthcare, Skytron, LLC, Steris Corporation, Stryker Corporation, and TRUMPF GmbH + Co. KG.

Ambulatory Surgical Centers Growing Popularity Stimulates Demand for Operating Room Equipment, says TMR

Global Operating Room Equipment Market: Snapshot

Operating rooms usually form the bulk of a hospital’s expenses. As such, the companies that provide operating room equipment can gain major revenues by providing for leading names in the healthcare industry. The operating room equipment companies are also becoming rapidly aware of the current market need for reducing costs of equipment to make the market more approachable, while consumers are showing a decline in healthcare expenditure, owing to rising costs and unfavorable healthcare policies and reimbursement schemes.

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The advent of hybrid operating rooms is also beneficial to the providers of operating room equipment. Hybrid operating rooms can lend more flexibility to the doctor and the patient as well. They also impart a better level of health safety to the patient and maintaining a high level of operational efficiency. As a result, the global operating room equipment market is progressing at a CAGR of 6.68% from 2015 to 2023. This market was valued at US$23 bn in 2014 and is expected to reach around US$42 bn before the end of 2023.

Medical Tourism Creates High Demand for Operating Room Equipment in APAC

The Asia Pacific sales of operating room equipment have been relatively lower than those in North America and Europe, but this is expected to change over the coming years. This regions is showing a high and optimistic scope for players to expand their portfolio, and one of the key reasons for this is the growth of medical tourism. Patients from developed economies preferring the cheaper medical practices in Asia Pacific have significantly improved the revenue stream of this region, providing a highly attractive market space for global and regional operating room equipment players alike.

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The current scope of providing operating room equipment lies in healthcare organizations in the Asia Pacific that offer surgical practices for joint replacement, cosmetics, dental procedures, and cardiac issues. The influx of revenue through medical tourism has also prompted the national governments to invest in this sector, improving the chances of operating room equipment players gaining a solid revenue stream.

North America was the dominant region for operating room equipment revenue generation in 2014, followed by Europe. Both regions have consistently been at the top in terms of using modern medical concepts in advanced healthcare infrastructures. This has allowed key players from the region to put a greater focus on innovation and product improvements, further expanding the scope of revenue generation in these regions.

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Movable Imaging Systems to Remain Top Operating Room Equipment Product Segment

In 2014, movable imaging systems as a market segment had garnered over US$6 bn or around 28% of the total revenue. This segment is currently expected to be the fastest growing in terms of revenue. A major reason for this segment’s rapid growth is the high amount of funding provided by government bodies to promote the use of movable imaging systems, especially in North America. Even on a regional level, there are major efforts being taken to modernize hospitals that are supported by state or local organizations.

The segment of operating room integration systems, however, is expected to be the fastest growing segment between 2015 and 2023, owing to a high demand for smart infrastructure and improved connectivity within hospital and medical devices. Key providers of operating room equipment in the world include Stryker Corporation, Steris Corporation, Olympus Corporation, GE Healthcare and Allen Medical.

Operating Room Equipment Market Set to Expand by 2023

According to a new market report published by Transparency Market Research “Operating Room Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2023,” the global operating room equipment market was valued at US$ 23.9 Bn in 2014 and is anticipated to expand at a CAGR of 6.9% from 2015 to 2023 to reach US$ 42.9 Bn in 2023.

An operating room, also known as operation theatre, 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 carried out. An operating room encompasses equipment 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. The operating room equipment market studies the current as well as the future market potential for operating room (OR) equipment across the globe.

The global operating room equipment market has been extensively analyzed based on factors such as product types, technological advances, pricing, suppliers, and availability across different geographies. The market size and forecast in terms of revenue (US$ Mn) for each of these equipment categories have been provided for the period 2013 to 2023. The report also provides the compound annual growth rate (CAGR %) for the market for each segment for the forecast period from 2013 to 2023.

Significant advantages associated with operating room equipment and financial incentives by governments of various countries are the major factors driving the growth of the operating room equipment market globally. Benefits of proper operating room equipment encompasses accurate and up-to-date patient handling, enhanced patient safety, and time and long-term cost savings. These advantages encourage health care providers to equip themselves with technically advanced operating room equipment, and in turn drive the market.

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Rapid technological advancements, need for improved efficiency, and increasing disposable income are the major factors fueling the growth of the global operating room equipment market. Advancements in patient monitoring systems include heart monitors, breath monitors, body temperature monitors, hematology monitors, multi-sign monitors, fetal and maternal monitors, oximeter, and brain monitors. The movable imaging systems segment led the operating room equipment market in 2014, due to availability of competitively priced mobile C-arms, increasing government initiatives to modernize hospitals, and increased number of surgeries propelling the market.

Key players profiled in the operating room equipment market report include Allen Medical (Hill ROM), GE Healthcare, KARL STORZ GmbH & Co. KG, Mizuho OSI, Maquet Holding B.V. & Co. KG (Getinge AB), Olympus Corporation, Philips Healthcare, Siemens Healthcare, Skytron, LLC, Steris Corporation, Stryker Corporation, and TRUMPF GmbH + Co. KG.