Global Operating Room Equipment Market Worth USD 42,873 Million by 2023

The global operating room equipment market, which was valued at USD 23,947.3 million in 2014, is expected to grow at a CAGR of 6.9% from 2015 to 2023 to reach USD 42,873.3 million by 2023. The growing trend of adopting hybrid operating rooms is expected to be one of the key triggers of the growth in the global operating room equipment market.

According to a new Market Research Reports Search Engine (MRRSE) report, increasing ambulatory surgical centers (ASCs) across the world and growing demand for modern operating room equipment are also among the market’s key growth drivers.

Based on product type, the operating room equipment market is 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.

In 2014, the movables imaging systems segment accounted for the major share of the global operating room equipment market, due to availability of private and public funding for the purchase of movable imaging systems in North America. Additionally, initiatives undertaken by regional governments to modernize hospitals, rising geriatric population and availability of competitively priced mobile C-arms are also fueling the growth of the operating room equipment market.

Other factors such as technological advancements, rise in surgeries, innovations in patient handling techniques and increasing trend of adopting hybrid operating rooms will continue to propel the growth of the operating room equipment market over the next few years. Hybrid operating rooms are an advanced form of operation theatres involving integration of surgical functions with imaging modalities and ensuring enhanced operational efficiency. Hybrid operating rooms provide surgeons and health care professional more operational flexibility by allowing easy access to different surgical and imaging equipment, such as CT and MRI scanners.

Geographically, North America, which comprises the U.S. and Canada, held a major share of the global operating room equipment market in 2014, as conventional equipment was replaced by new and technically advanced versions. A continuous rise in the number of ASCs is expected to further drive the demand for operating room equipment such as operating tables, operating room lights, and surgical booms in the region.

Over the coming years, Europe followed by Asia Pacific is expected to be the fastest emerging market, led by a consistent growth in the operating room equipment market, continued technical advances in operating room equipment, growing geriatric population, rising surgical procedures, and higher demand for minimally invasive surgical techniques.

The key players in the operating room equipment market include Allen Medical (Way Acton, MA, USA), GE Healthcare (Little Chalfont, UK), KARL STORZ GmbH & Co. KG (Tuttlingen, Germany), Mizuho OSI (Union City, CA USA), Maquet Holding B.V. & Co. KG (Rastatt, Germany), Olympus Corporation (Tokyo, Japan), Philips Healthcare (Eindhoven, The Netherlands), Siemens Healthcare (Erlangen, Germany), Skytron, LLC (Grand Rapids, MI, USA), Steris Corporation (Mentor, OH, USA), Stryker Corporation (Kalamazoo, MI, USA), and TRUMPF GmbH + Co. KG (Ditzingen, Germany).

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