At 4.6% CAGR, Operating Room Equipment Market Size Worth US$37.4 billion by 2027: IndustryARC

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Surging Application of Electrosurgical Devices are Projected to Drive the Growth of Operating Room Equipment Market

HYDERABAD, TELANGANA, INDIA, October 28, 2022 / — Operating Room Equipment Market size is estimated to reach $37.4 billion by 2027, growing at a CAGR of 4.6% during the forecast period 2022-2027. Operating rooms are planned for surgeons and surgical staff to carry out surgical processes that need time, patience, concentration, and security. Different pieces of equipment are needed for application in the operating room like surgical lights and operating tables. An extensive assortment of novel and refurbished respiratory ventilators are available for different medical care setups including operating rooms. Smart pumps with medication libraries have acquired more and more acceptance in acute care patient settings inclusive of the perioperative area. In 2010, the APSF Newsletter provided an account of a big health system’s application of smart infusion pumps. Utilizing the paradigm of Standardization, Technology, Pharmacy/Prefilled/Premixed, and Culture (STPC), Wake Forest University Baptist Medical Center was able to fruitfully standardize infusion-related routines across numerous patient care areas inclusive of the operating room. Surgical navigation systems permit surgeons to acquire complete access to the anatomy of a surgical site in the body even if the site is very tiny and partly imperceptible. In an operating room setup, the most fundamental video endoscopy imaging system includes a light source, light-transmitting cable, endoscopy cameras, and monitor. The ensuing endoscopic image can only be as good as the weakest link in the chain. A hybrid operating room is a surgical theatre that is outfitted with progressive medical imaging devices like fixed C-Arms, X-ray computed tomography (CT) scanners, or magnetic resonance imaging (MRI) scanners.

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Key Takeaways

Geographically, North America Operating Room Equipment Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the increasing predominance of incessant ailments requiring the application of electrosurgical devices in the North American region.

Operating Room Equipment Market growth is being driven by the increasing pervasiveness of incessant ailments needing surgeries and application of electrosurgical devices and the surging count of hospitals. However, specialized operating room equipment is high-priced and, on average, specialty operating tables cost almost three times greater than general-purpose ones and this is one of the major factors hampering the growth of the Operating Room Equipment Market.

Operating Room Equipment Market Detailed Analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Operating Room Equipment Market report.

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Segmental Analysis:

Operating Room Equipment Market Segment Analysis – By Product: The Operating Room Equipment Market based on the product can be further segmented into Anesthesia Devices, Endoscopes, Operating Room Tables, Electrosurgical Devices, Surgical Imaging Devices, Patient Monitors, and Others. Anesthesia machines are typically utilized in nearly all kinds of surgeries and electrosurgical devices are utilized in distinct surgeries like cardiovascular surgery and gynecology. The accelerated acceptance of the Anesthesia Information Management Systems (AIMS) is further propelling the growth of the Anesthesia Devices segment. Furthermore, the Endoscopes segment is estimated to grow with the fastest CAGR of 5.4% during the forecast period 2022-2027 owing to the increasing inclination of patients towards endoscopic processes, heightening awareness regarding minimally invasive procedures, and surging technological innovations in surgical processes with endoscopy utilizing electrosurgical devices soaring up.

Operating Room Equipment Market Segment Analysis – By End-User: The Operating Room Equipment Market based on end-user can be further segmented into Hospitals, Ambulatory Surgical Centers, and Others. The Hospitals Segment held the largest market share in 2021. This growth is owing to the surging financing of up-gradation of operating rooms with devices like electrosurgical devices in hospitals. The [proliferating demand for hybrid operating rooms and the heightened funding for progressive technology is further propelling the growth of this segment. Furthermore, the Ambulatory Surgical Centers segment is estimated to grow with the fastest CAGR of 5.8% during the forecast period 2022-2027 owing to the soaring count of ambulatory surgical centers worldwide attributed to emerging demand from essential participants in surgical care like patients, specialists, and insurers in conjunction with accessibility to progressive devices like electrosurgical devices in operating rooms in ambulatory surgical centers.

Operating Room Equipment Market Segment Analysis – By Geography: The Operating Room Equipment Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America (Operating Room Equipment Market) held the largest share with 39% of the overall market in 2021. The growth of this region is owing to the soaring concentration of key players like Stryker Corporation in the U.S. in the region. The established healthcare infrastructure with operating rooms equipped with electrosurgical devices in conjunction with advantageous government initiatives is further driving the growth of the Operating Room Equipment Market in this region. Furthermore, the Asia-Pacific region is estimated to be the region with the fastest CAGR rate over the forecast period 2022-2027. This growth is owing to factors like the increasing predominance of incessant ailments in the Asia-Pacific region.

Competitive Landscape:
The top 5 players in the operating room equipment industry are –
1. Stryker Corporation
2. Hill-Rom Holdings, Inc.
4. STERIS plc.
5. GE Healthcare

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A. Operating Room Equipment & Supplies Market

B. Hospital Supplies Market

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