Operating Room Equipment Market to Report Impressive Growth

With the presence of a large pool of participants, the global operating room equipment market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Stryker Corporation, STERIS Corporation, GE Healthcare, Getinge Group, Hill-Rom Holdings, Inc., Drägerwerk AG & Co. KGaA, Mizuho OSI, Philips Healthcare, and Medtronic Incorporation are some of the key vendors of operating room equipment across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the operating room equipment market study. In a major boost for operating room equipment market, in September 2018, CMR Surgical Limited – UK-based medical device manufacturer – disclosed next-gen surgical robotic system referred as Versius for providing a portable alternative for minimal access surgery. Reportedly, the new system has the ability to address the complexities and provide enhanced access at the time of minimal access surgical procedures.

The global operating room equipment market stood at USD 25.75 Billion in 2016. Witnessing a tremendous rise during the period from 2017 to 2022, the revenue in this operating room equipment market is expected to reach USD 38.86 billion. The main products available in this operating room equipment market are anesthesia devices, endoscopes, operating room lights, operating tables, electrosurgical devices, surgical imaging devices, and patient monitors. Among them, the demand for anesthesia devices is relatively higher and the trend is anticipated to remain so over the next few years, notes the research report. “Rising geriatric population base prone to chronic ailments along with massive awareness about the efficacy of minimally invasive procedures is anticipated to stimulate the growth of operating room equipment market in the years ahead,” says the author of this operating room equipment market study. Apart from this, increase in the number of ambulatory surgical centers along with large patient population is projected to contribute significantly towards the operating room equipment market size in the coming years. In addition, enhanced healthcare infrastructure facility along with introduction of new technologies is likely to generate lucrative demand for operating room equipment market in the forthcoming years.

High equipment costs, however, are expected to pose a big threat to operating room equipment market in the ensuing years. Nevertheless, the emerging economies are predicted to offer lucrative growth opportunities for operating room equipment market in the coming years. This, in turn, is anticipated to normalize the impact of hindrances on the operating room equipment market, reports the study. Regionally, North America has been leading the worldwide operating room equipment market and is anticipated to continue on the dominant position in the years to come, states the study. Rise in the number of ambulatory surgical centers along with massive cases of chronic ailments are the key factors behind the dominance of the North America operating room equipment market. Furthermore, well-developed healthcare infrastructure and lucrative demand for minimally invasive surgeries are also anticipated to boost the expansion of operating room equipment market in the forthcoming years.  In addition, the high number of market players being headquartered in North America is another significant factor that is supporting the growth of this regional operating room equipment market. – Zion Market Research