Global Operating Room Equipment and Supplies Market - 2019-2026
Global Operating Room Equipment and Supplies Market Overview
The global operating room equipment and supplies market size was worth $ XX billion in 2018 and is forecasted to reach $ XX billion by 2026, at a CAGR of XX% during the forecast period.
An operating theater also known as an operating room or operating suite, is a facility within a hospital where surgical operations/procedures are performed in an aseptic environment. Various equipment are required for use in the operating room which include surgical lights, operating tables, surgical tables, surgical displays, scrub sinks, disposables and consumables, sterilization and cleaning equipment, gel pads and positioners and cushions and mattresses.
An operating room, which is technically equipped, helps to ensure enhanced patient care and improved operational efficiency by allowing surgeons and other healthcare professionals with greater flexibility and ease of handling. The global operating room equipment and supplies market is showing an expectant trend of development around the globe.
Global Operating Room Equipment and Supplies Market -Market Dynamics
Increase in number of hospitals and multispecialty hospitals are driving the global operating room equipment and supplies market in recent years and expected to remain same in the forecast period. According to national web-sources in 2018, revenue from hospital sector is expected to grow at 12- 14 % over the next five years due to increasing number of hospitals. According to National Health Profile of India, as of 2018, there are 23, 582 hospitals with 710,761 beds, which is further expected to increase over the forecast period.
Increasing number of surgeries is the other factor boosting the global operating room equipment and supplies market. For instance, in 2017, 6,314,144 surgical procedures were operated in Guangdong region in China showcasing the demand for operating room equipment.
Government initiatives and increasing investments in hospital sector are contributing to the growth of global operating room equipment and supplies market. For instance, in India, benefit of section 80-IB has been extended to new hospitals with 100 beds or more which are set up in rural areas and are entitled to 100 per cent deduction on profits for 5 years.
Advancement in technology and surging patient preference for minimally invasive surgeries are fueling the global operating room equipment and supplies market over the forecast period.
However, high cost of operating room equipment is hampering the global operating room equipment over the forecast period.
Global Operating Room Equipment and Supplies Market – Segment Analysis
Based on the equipment type, global operating room equipment is segmented into anesthesia machines, electrosurgical units, operating tables, operating room lights, multi-parameter patient monitors and surgical imaging devices.
Currently operating tables and operating room lights has the dominant market share and they accounts for approximately XX% of the market, due to the increasing number of surgeries. According to National Health Service in England, in 2018, the number of patients waiting for a surgical procedure on the NHS reached 4.3 million, the highest total for 10 years showing the increased number of surgeries.
Surgical instruments holds the significant share and expected to remain dominant over the forecast period due to increased number of surgical procedures. According to Laser Surgery Hub, Approximately 330,000 cataract operations are performed each year in England alone.
Based on the end user, the market is segmented into hospitals, ambulatory surgery centers, and academics and research organizations. According to American Hospital Association in 2019, there are total 6,210 hospitals in United States with 931,203 total staffed beds.
Global Operating Room Equipment and Supplies – Geographical Analysis
The global operating room equipment and supplies market is segmented into North America, Europe, Asia Pacific, South America and rest of the world.
North America has the highest market share and anticipated to remain dominant over the forecast period due to the presence of more number of hospitals and ambulatory surgery centers. Currently, According to American Hospital Association statistics in 2019, there are 6,210 hospitals in United States, and the high increase in ASCs by 1.1X is expected to boost the surgical equipment market over the 2026. According to Becker’s ASC review, annually 2.4 million eye surgeries are being operated in United States and expected to increase further during the forecast period. According to Definitive Healthcare’s Surgery Centers platform in 2019, there are more than 9,280 active ambulatory surgery centers in the U.S. where California alone has 1,213 ambulatory surgery centers.
Europe has the next dominant share in global operating room equipment and supplies market due to increase in number of surgical treatments. According to National Joint Registry, in 2018, more than 252,250 joint replacements were carried out in the year which is the highest ever than before recorded.
Asia Pacific, South America and Middle East & Africa are registering high CAGR over the forecast period due to advanced technologies in countries like China, Japan and Asia and increasing number of suppliers and distributors of operating room equipment and supplies. According to HSBC recent studies, it was predicted that by 2019 Chinese plastic surgery market will double in size and it will be the third largest market in the world following United States and Brazil, following the need of surgical equipment and supplies in operating room.
Global Operating Room Equipment and Supplies Market – Competitive Analysis
Some of the key players in operating room equipment and supplies market are Dragerwerk AG & Co. KGAA, Fujifilm Holdings Corporation, Getinge Group, GE Healthcare, Hill-Rom Holdings, Inc., KARL STORZ GmbH & Co. KG, Mizuho OSI, Medtronic, Plc,, Koninklijke Philips N.V., STERIS Corporation, Stryker Corporation, and Siemens AG. The competition among these players is immense and companies are striving hard to grab the market share with constant innovation by investing in research and development activities.
On February 18, 2019, Philips launched Zenition mobile C-arm platform for enhanced operating room performance and workflow efficiency. The Zenition mobile C-arm platform brings together innovations in image capture, image processing, ease-of-use and versatility pioneered on Philips' highly successful Azurion platform.
On November 23, 2018, leading French medical device maker Peters Surgical launches “Make in India” and inaugurates its new production site in Manesar, Haryana.
On July 17, 2018, Med Tech Innovation launched First AI system for the operating room.
On January 29, 2018, Mizuho Showcases Extended Suite of Specialty Surgery and Integrated Operating Room Technology Solutions at Arab Health 2018.
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