Operating Room Equipment Market Expected to Reach US$ 42.9 Bn in 2023: Transparency Market Research

Albany, NY, May 11, 2016 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research “Operating Room Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2023,” the global operating room equipment market was valued at US$ 23.9 Bn in 2014 and is anticipated to expand at a CAGR of 6.9% from 2015 to 2023 to reach US$ 42.9 Bn in 2023.

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An operating room, also known as operation theatre, is a facility within a hospital or nursing home where surgical procedures are performed in order to treat different physiological conditions in a sterile environment. Technological advancements have brought a lot of change in the way surgical procedures are carried out. An operating room encompasses equipment such as movable imaging systems, biomedical systems, endoscopes, anesthesia systems, operating tables, operating room lights, surgical imaging displays, operating room integration systems, surgical booms, and microscopes. The operating room equipment market studies the current as well as the future market potential for operating room (OR) equipment across the globe.

The global operating room equipment market has been extensively analyzed based on factors such as product types, technological advances, pricing, suppliers, and availability across different geographies. The market size and forecast in terms of revenue (US$ Mn) for each of these equipment categories have been provided for the period 2013 to 2023. The report also provides the compound annual growth rate (CAGR %) for the market for each segment for the forecast period from 2013 to 2023.

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Significant advantages associated with operating room equipment and financial incentives by governments of various countries are the major factors driving the growth of the operating room equipment market globally. Benefits of proper operating room equipment encompasses accurate and up-to-date patient handling, enhanced patient safety, and time and long-term cost savings. These advantages encourage health care providers to equip themselves with technically advanced operating room equipment, and in turn drive the market.

Rapid technological advancements, need for improved efficiency, and increasing disposable income are the major factors fueling the growth of the global operating room equipment market. Advancements in patient monitoring systems include heart monitors, breath monitors, body temperature monitors, hematology monitors, multi-sign monitors, fetal and maternal monitors, oximeter, and brain monitors. The movable imaging systems segment led the operating room equipment market in 2014, due to availability of competitively priced mobile C-arms, increasing government initiatives to modernize hospitals, and increased number of surgeries propelling the market.

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Key players profiled in the operating room equipment market report include Allen Medical (Hill ROM), GE Healthcare, KARL STORZ GmbH & Co. KG, Mizuho OSI, Maquet Holding B.V. & Co. KG (Getinge AB), Olympus Corporation, Philips Healthcare, Siemens Healthcare, Skytron, LLC, Steris Corporation, Stryker Corporation, and TRUMPF GmbH + Co. KG.

The global operating room equipment market has been segmented as follows:

Global Operating Room Equipment Market, by Product Type

  • Movable Imaging Systems
  • Biomedical Systems
  • Endoscopes
  • Anesthesia Systems
  • Operating Tables
  • Operating Room Lights
  • Surgical Imaging Displays
  • Operating Room Integration Systems
  • Surgical Booms
  • Microscopes

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Source:Transparency Market Research