The increasing government funding, rising number of product approvals provided for various operating devices and various technological advancements are major factors expected to drive the market in the forecast period.
Market Size – USD 27.16 Billion in 2019, Market Growth – CAGR of 3.6%, Market Trends– increasing demand for minimally invasive surgery procedures owing to decreased stay at hospitals and cost-effective procedures are expected to drive the market.
According to the current analysis of Reports and Data, the Operating Room Equipment market was valued at USD 27.16 billion in 2019 and is expected to reach USD 35.96 billion by the year 2027, at a CAGR of 3.6%. The equipment used in the various surgical procedures in the operating rooms present in hospitals and clinics is of crucial importance for patient compliance. The operating rooms equipment market is widely driven by the increasing favourable funding scenario by government and other bodies. Moreover, number of hospitals in various developing regions such as China, India, and others has expanded as a result of increased medical tourism. Operating Room Equipment market in regions such as Thailand, the Philippines, Malaysia, and Taiwan regions are growing at a faster pace as more hospitals and clinical setups are introduced in the region. The increasing technological advancements in the operating room equipment for better outcomes in the surgical procedures are expected to fuel the market. For instance, hybrid operating room is designed with the latest interventional devices and medical imaging systems. The technology has successfully reshaped the industrial dynamics of healthcare. Additionally, the rising geriatric population, which is considered to be highly prone to various diseases owing to surgical assistance, would also contribute to the market growth. For instance, the World Population Prospects by the United Nations estimate that the global geriatric population is expected to double by 2050, and is expected to be 2.1 billion in 2050 from 962 million in 2017. The risings cases of chronic diseases, roadside accidents, and household mishaps could also drive the market intensely in various regions. For instance, according to the American College of Cardiology, cardiovascular diseases remain the leading cause of death in chronic diseases. In 2019, there were around 1,055,000 cases of coronary events recorded in the United States. Advanced infrastructure of operating rooms equipped with technically advanced devices offers ease of handling and greater flexibility to ensure better operational efficiency and patient care. For instance, monitors used in operating room are now voice-controlled surgical technology which is a safety improvement trend. This, in turn, is expected to have a significant impact on the global demand for equipment for the operating rooms. Furthermore, huge investments are provided to multiple specialty hospitals to improve their facilities and infrastructure for patient health. However, the price and unaffordability in emerging economy could be a restraining factor that may hinder the market growth during the forecast period.
Leading companies operating in the market and profiled in the report include:
Koninklijke Philips N.V., STERIS plc, Stryker Corporation, Siemens Healthineers, Hill-Rom Holdings, Inc., Medtronic, Inc., Drägerwerk AG & Co. KGaA, Getinge Group, GE Healthcare, and Mizuho OSI.
Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/2688
Further key findings from the report suggest
Request a discount on the report @ https://www.reportsanddata.com/discount-enquiry-form/2688
Competitive Landscape:
Dominant key players in the market are adopting various strategies like mergers and acquisition, partnerships, collaborations, joint ventures and product launches to gain a robust footing in the market. Growing demand for various medical products, increasing adoption of home-care settings, point-of-care diagnosis, high demand for vaccines and medication for controlling COVID-19 is expected to benefit the key companies throughout the forecast period.
To know more about the report @ https://www.reportsanddata.com/report-detail/operating-room-equipment-market
Global Operating Room Equipment Market Segmentation:
By Type Outlook (Revenue in Million USD; 2017–2027)
By End Use Outlook (Revenue in Million USD; 2017–2027)
The global Operating Room Equipment market is broadly divided into 5 major regions, viz. North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Regional Outlook:
Request a customization of the report @ https://www.reportsanddata.com/request-customization-form/2688
Thank you reading our reading. Kindly note that we also offer customized report as per client’s requirement. Feel free to contact us to know more about the customization feature and get your customized report.
Read More Related Reports:-
Intra Oral Scanners for Digital Impression Market Size
Urinary Stone Treatment Device Market Share
Browse More Reports:
Hematology Diagnostics Market Size
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Contact Us:
John W
Head of Business Development
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com