Newark, NJ, April 07, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global surgical booms market is expected to grow from USD 216.58 million in 2019 and to reach USD 502.25 million by 2027, growing at a CAGR of 11.11% during the forecast period 2020-2027.
The surgical booms industry is witnessing the rapid growth from the past few years. The advancement and technological development in the surgery and operating room facilities are one of the key factors contributing to demand for surgical booms products. Improvement in the robotic surgery, development of highly advanced monitoring devices, and development of minimally invasive surgeries are some of the latest technological trends driving the growth of the market. In addition to this, the integration of hybrid operation rooms, further boosting the growth of the market.
Surgical booms provide the support to the other equipment throughout the operating room to manage the critical care equipment and overall workflow. Surgical booms are commonly used in the healthcare facilities to get the access of electric power and medical gases such as oxygen, nitrogen and carbon dioxide. In addition to this, these are also used for obtaining audio and video visual data. The surgical booms are often designed flexible with respect to space requirement, function, and purpose in the operating room.
Impact of COVID-19 on the Surgical Booms Market
Currently, the world is grappling with COVID-19, which is originated initially in Wuhan, China. More than 200 countries, governments, and public health care systems are battling with this global pandemic. The coronavirus patients who need the ICU unit are among the sickest and serious one–which requires external breathing support and known as level 3 care. Thus, to meet the increasing demand, the capacity of hospital ICU rooms needs to scale up in every country. The ICU rooms include many devices such as oxygen, air, suction, IT and lab support, and monitoring devices. Thus, space in the intensive care unit is very critical. Surgical booms provides a slim column design to maximize space, allowing for improved access to the patient, and reduce the complications of wiring in the ICU. Therefore, with the increasing need to develop more ICU care units amid coronavirus cases, the demand for surgical booms is likely to increase in the future.
Global surgical booms market is increasing rapidly, owing to the growing popularity of hybrid operating rooms among the healthcare professionals and patients across the globe. In addition to this, rising installation of surgical booms in the ICU rooms, further driving the growth of the market.
Furthermore, increasing government programs to improve the healthcare sector is also contributing to the growth of surgical booms market. Moreover, increasing trend of minimally invasive surgeries, boosting the demand for surgical booms in the upcoming years. However, the requirement of high capital investment for the installation may hamper the growth of the market.
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Key players operating in the global surgical booms market include ERD, LLC., Steris Corporation, C V Medical, Stryker Corporation, Skytron, LLC., Amico, Maquet Holdings, Ondal, Palakkad Surgical Industries Pvt. Ltd., Hill-Rom Holdings Inc., and Getinge AB among others. To gain the significant market share in the global surgical booms market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
The roof-mounted segment dominated the global surgical booms market and held the largest market share of 66.56% in the year 2019
Based on installation type, the global surgical booms market is classified into roof-mounted and floor mounted. The roof-mounted segment dominated the global surgical booms market and held the largest market share of 66.56% in the year 2019. The roof-mounted surgical booms are usually used in the operating rooms, intensive care units, and other healthcare facilities to support the equipment. The rising usage of roof-mounted surgical booms in the operating rooms contributing in the growth of the market.
Intensive care unit is projected to grow at the highest CAGR of 9.2% over the forecast period
Based on the area of operation, the market can be divided into the operating room, C-section suite, cath lab, intensive care unit, and emergency department. Intensive care unit is projected to grow at the highest CAGR of 9.2% over the forecast period. The surgical booms offers the flexibility to both patient, nurses, and physicians. Thus, with increasing installation of surgical booms in intensive care units, driving the growth of the market.
Hospitals segment dominated the global surgical booms market and held a major market share of 42.02% in the year 2019
Based on the end-user, the market is divided into clinics, hospitals, ambulatory surgical centres, and diagnostic centres. Hospitals segment accounted for the major market share of 42.02% in the year 2019. The installation of surgical booms in the hospitals helps to increase the overall efficiency and increase the capacity of the number of surgeries performed in the hospitals. Thus, many hospitals across the globe are installing surgical booms, boosting the growth of the market.
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Regional Segment Analysis of the Surgical Booms Market
On the basis of geography, the global surgical booms market classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America region dominated the global surgical booms market and held the largest market share of 44.25% in the year 2019. Highly developed healthcare infrastructure and early adoption of technologies are some of the key factor contributing to the growth of the market in the North America region. In addition to this, the presence of key companies across the regions, further driving the growth of the market. On the other hand, the Asia Pacific region is projected to grow at the highest CAGR of 9.4% over the forecast period. Increasing government awareness to improve the healthcare facilities is one of the key driving factor boosting the growth of the market in the Asia Pacific region. Furthermore, increasing investment in the medical devices in the countries such as India and China, offering future growth opportunities for the key vendors in the market.
About the report:
The global surgical booms market is analysed on the basis of value (USD Million).. All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, and competitor position grid analysis.
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