Operating Room Equipment Market Size, Share, And Growth Rate Analysis 2023
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s operating room equipment market report forecasts the operating room equipment market size to grow to $21.21 Billion by 2027, with a CAGR (compound annual growth rate) of almost 6%
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Operating Room Equipment Market Size Forecast
The global operating room equipment market is expected to grow from $15.73 billion in 2022 to $16.84 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The operating room equipment market size is expected to grow to $21.21 billion in 2027 at a CAGR of 5.9%.
North America held the largest operating room equipment market share.
Key Operating Room Equipment Market Driver – Increase In Ambulatory Surgical Centres Globally
All ASCs require an operating room (OR) to undertake the surgeries; therefore the growing number of ASCs all over the world is a key factor facilitating the growth of the market for OR equipment.
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Key Operating Room Equipment Market Trend – Adopting Hybrid Operating Room
The hybrid operating room is a new trend being observed in the global operating room market. A hybrid operating room is an alternative to a conventional operating room equipped with advanced medical imaging systems and devices which support high-quality interventional imaging and minimally invasive surgeries. It has a complex environment in which numerous surgeons, nurses, anesthesiologists, and technicians work together. Hybrid operating rooms in healthcare facilities have increased globally. Since they offer a sterile operating room environment, surgeons can perform surgeries with ease. The ability of these operating rooms to reduce the total healthcare expenditure, enhance patient safety, and minimize the time taken to perform surgeries will lead to its increased popularity in the fields of neurosurgery, cardiology, and orthopedics.
Operating Room Equipment Market Segment
1) By Type: Anesthesia Devices, Endoscopes, Operating room Lights, Operating Tables, Electrosurgical Devices, Surgical Imaging Devices, Patient Monitors,
2) By End User: Hospitals, Outpatient Facilities, Ambulatory Surgery Centers
3) By Application: Cardiovascular Surgery, Thoracic Surgery, Neurosurgery, Other Applications
Operating Room Equipment Market Major Players and Strategies
Major players in the operating room equipment market are Steris PLC., Stryker Corporation, Getinge AB, Hill-Rom Holdings Inc., Mizuho OSI Inc., Koninklijke Philips N.V, KARL STORZ GmbH & Co. KG, General Electric Company, Dragerwerk AG & Co. KGaA, and Medtronic PLC.
In December 2021, Baxter, a US-based healthcare company acquired Hillrom for the deal of the $15 billion amount. This acquisition unites two leading MedTech organizations in a shared vision for transforming healthcare and advancing patient care worldwide. Hillrom is a US-based medical technology provider.
The Operating Room Equipment Global Market Report 2023 covers regional data on operating room equipment market size, operating room equipment market trends and drivers, opportunities, strategies, and operating room equipment market competitor analysis. The countries covered in the operating room equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Operating room equipment are different types of equipment that are used during surgery.
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