global operating room equipment
market size is projected to reach $33,308 million by 2023 from
$24,192 million in 2016, at a CAGR of 4.5% from 2017 to 2023. North America is
expected to be the maximum revenue contributor during the forecast period.
Operating
room equipment has been developed and adopted in various medical environments
around the world, with government investments, grants, and increased funding.
In addition, operating room equipment is poised to grow at a moderate pace
throughout the forecast period due to increased patient preference for
minimally invasive surgery and the growing global elderly population.
The
operating room (OR) or operating room is designed for surgeons and surgical
staff to perform surgery that requires time, patience, concentration, and
safety. The equipment used in OR consists of surgical imaging equipment,
anesthesia machines, electrosurgical equipment, operating room lighting,
operating room tables, etc. In the operating room, quality surgical instruments
play a vital role in streamlining the operating room workflow.
An
increase in the world's elderly population and an increase in the number of
hospitals will drive market growth. In addition, the surgical instrument market
is expected to increase the priority of minimally invasive surgery and increase
regulatory approvals for operating room equipment. However, the high costs
associated with OR devices and unfavorable health care reform, particularly in
the United States, are expected to hinder market growth.
The
electrosurgical device is expected to be the fastest growing segment throughout
the analysis period due to the increasing number of surgical procedures. In
addition, the Outpatient Surgery Center segment will be the fastest growing
end-user segment with a CAGR of 6.2% from 2017 to 2023 due to the
cost-effective but highly appropriate settings offered by these centers. It is
predicted.
By
geography, the market was dominated by North America in 2016, and is expected
to maintain its lead throughout the forecast period. North America and Asia-Pacific
collectively accounted for ~63% of the overall operating room equipment market
in 2016. The growth of these regions is attributed to the availability of
affordable medical treatments for several disease conditions, in countries such
as Mexico, Thailand, Malaysia, India, and Singapore. However, Asia-Pacific is
the fastest growing region followed by LAMEA, owing to the increase in
treatment success rates and the affordable price range with respect to surgical
procedures.
Key
Findings of the Operating Room Equipment Market:
- In 2016,
surgical imaging devices generated the highest revenue, accounting about
two-fifths of the overall market revenue and is projected to grow at a
CAGR of 2.4% during the forecast period.
- Electrosurgical
devices are expected to grow at an above-average CAGR of 7.8%, owing to
increased number of skilled medical personnel in the field.
- North
America accounted for more than 40% of the market share in 2016.
- Asia-Pacific
is anticipated to be the fastest growing market during the analysis
period, followed by LAMEA.
The
major companies profiled in the report include
·
Steris Corporation
·
Stryker Corporation
·
Koninklijke Philips N.V.
·
Getinge Group
·
Hill-Rom Holdings Inc.
·
Drgerwerk AG & Co. KGaA
·
General Electric Company
·
Medtronic plc
·
Mizuho SOI
·
Karl Storz GmbH & Co. Kg.
Key
Benefits for Stakeholders:
- The study
provides an in-depth analysis of the market and the current trends and
future estimations to elucidate the imminent investment pockets.
- It presents
a quantitative analysis of the market from 2016 to 2023 to enable
stakeholders to capitalize on the prevailing market opportunities.
- Extensive
analysis of the market based on application assists to understand the
trends in the industry.
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