South Korea, Seoul, Sept. 02, 2022 (GLOBE NEWSWIRE) -- Fact.MR – A Market Research and Competitive Intelligence Provider: Historically, the global operating room equipment witnessed a significant CAGR at 5.3% during 2012-2016 due to surge in prevalence of pathological and physiological disorders combined with continuous effort to improve healthcare industry across the globe.
Surge in need to offer better patient care system in a sterile environment in healthcare industry is one of the primary factors fuelling the growth of operating room equipment market.
Healthcare professionals and surgeons are preferably demanding for operating rooms equipped with advanced devices that offer greater flexibility to ensure better operational efficiency and patient care. This is likely to have an influence on the global operating room equipment market.
Rise in growth in availability and accessibility of healthcare facilities, especially in developing econmies, combined with initiatives to increase number of hospitals and improve medical tourism are expected to further drive the growth of the market.
Besides this, in operating room equipment industry, key manufacturers are constantly focusing on incorporating innovative technologies in a wide variety of medical devices. Surge in adoption for devices equipped in virtual reality and patient imaging scans in healthcare sector is likely to open new avenues of growth of operating room equipment market.
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Key Takeaways:
- North America is expected dominate in the operating room equipment market, accounting for a relatively large percentage of revenue share. This dominance is due to surge in the number of ambulatory surgical centers and heavy investments by hospitals to upgrade operating rooms
- APEJ is expected to be the fastest growing market during forecast period. Moreover, the market had witnessed a robust CAGR of 6.7% during 2017-2022.
Growth Drivers:
- Rise in need to offer better patient care system in sterile environment is expected to fuel the growth of the market.
- Increasingly demand for operating rooms equipped with technically advanced devices that offer ease of handling and greater flexibility to ensure better operational efficiency.
- Surge in prevalence of physiological and pathological diseases has led to a surge in the number of surgical procedures. Minimally invasive surgeries are gaining traction
- Electrosurgical technology using electrical energy is a key growth driver operating room equipment market, which will continue to shape the market in the coming years.
Restraints:
- Operating room equipment for use in surgical procedures are commonly one-time sales, which may act as a restraint to the growth of the market. It is also making it a challenge for manufacturers in operating room equipment industry to generate revenues and increase profits.
- High costs of operating room equipment are limiting their penetration, especially in low-income countries, acting as a barrier to the market growth.
- Unfavorable health reforms in countries such as United States will possibly pose as a potential threat to the market expansion.
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More Valuable Insights on Operating Room Equipment Market
- In March 2019, Getinge AB announced its launch of an updated version of its mechanical ventilator – Servo-u 4.0. This device offers personalized lung protection and transpulmonary pressure monitoring functions. These are used to simplify complex procedures for clinicians and simultaneously make it safer for patients.
- Stryker Corporation had completed its acquisitions of OrthoSpace, Ltd, a privately held Israel-based company. As per Stryker, the acquisition will be complementary to its existing portfolio and aligns with the company’s focus to invest in sports medicine.
Key Companies Profiled by Fact.MR
- Hill-Rom Holdings, Inc.
- General Electric Company
- KARL STORZ GmbH & Co. KG
- Mizuho OSI, Inc.
- Medtronic, plc
- Koninklijke Philips N.V.
- Dragerwerk AG & Co. KGaA
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