Operating Room Equipment Market Size Is Likely To Be Valued At USD 48.50 Billion By 2025 : Grand View Research Inc

“Grand View Research, Inc. – Market Research And Consulting.”
According to report published by Grand View ,The surging volume of surgeries globally and technological innovations in medical devices are some of the driving forces responsible for the growth of the Operating Room Equipment market.

According to a report,”Operating Room Equipment Market Analysis By Product (Anesthesia Devices, Endoscopes, OR Tables, OR Lights, Electrosurgical Devices, Surgical Imaging Devices, Patient Monitors), By End-use, And Segment Forecasts, 2018 – 2025″,The global operating room equipment market is expected to reach USD 48.50 billion by 2025. The market is primarily driven by increasing investments for improving hospital care facilities, rising number of new hospitals & ambulatory care centers, increasing patient preference for minimally invasive procedures, and an increase in the number of surgeries performed globally.

Key Takeaways from the report:

  • The anesthesia devices segment held majority of the revenue share in 2016 due to a rise in the volume of surgical procedures

  • Hospitals dominated the end-use segment in 2016 primarily due to increasing number of hospitals and rising investments in operating theaters

  • North America dominated the global market owing to a rapid increase in geriatric population and rising prevalence of various diseases

Operating room equipment market, by product, 2014 – 2025 (USD Billion)

Operating room equipment market

Growing funds & investments by various government bodies and private investors are also contributing to the growth of the market. For instance, in its 2016-17 budget, the Hong Kong government dedicated a provision of USD 200 billion for a ten-year hospital development plan that would help expand and upgrade healthcare facilities. Under the plan, number of operating theaters would increase by 40% and specialist outpatient service capacity would increase by 40% from 6.8 million to 10 million attendances for a year. The development plan also includes redevelopment and expansion of various hospitals in the region.

In addition, a rapid increase in the number of elderly people & rising prevalence of chronic diseases are increasing the demand for surgical interventions and contributing to the expansion of the market. Technological innovations in medical devices are driving the adoption of advanced medical equipment in surgical procedures. Key players are focusing on product innovations and new launches to cope with growing needs.

Furthermore, improving healthcare infrastructure in emerging economies, large patient pool, and untapped opportunities in developing nations are attracting foreign investors to hospitals and the healthcare sector. Thus, growing investments in emerging economies and establishment of new hospitals & healthcare centers are expected to boost growth in the next few years.

Ask Our Industry Expert for more details on report – www.grandviewresearch.com/inquiry/4565/ibb

Regional Outlook

North America dominated the market in 2016 with a revenue share of around 37.3%. Increasing prevalence of chronic diseases in the region, large geriatric population base, sophisticated healthcare infrastructure, and rising number of ambulatory surgical centers are key market growth drivers. Rising demand for minimally invasive surgeries and higher adoption of technological advancements are also driving growth in the region.

Asia Pacific is expected to register fastest growth over the coming years. Factors responsible for faster emergence are high prevalence of chronic diseases, large patient pools, and growing number of hospitals & healthcare facilities with improving infrastructure in the region. The large population base with high unmet needs in the region attract many foreign investors to expand their business in the emerging markets such as India, China, and Singapore.

Furthermore, the growing trend of medical tourism in Asian countries is expected to contribute to growth in the region. Affordability of treatment, ease of access, government support, and emergence of new medical tourism destinations in the Asia Pacific region is anticipated to contribute to the growth of the market in the region. Thailand, Malaysia, South Korea, Singapore, India, and China are some of the popular medical tourist destinations in Asia Pacific and are expected to experience a boom in the coming years.

Competitive Insights

Some of the significant players include Koninklijke Philips N.V.; STERIS plc, Stryker; KARL STORZ GmbH & Co. KG; Siemens Healthineers; Hill-Rom (Trumpf Medical); Getinge AB; Medtronic; and GE Healthcare. Huge funding for R&D coupled with new product launches are crucial strategies deployed by leading companies to capture a larger share of the global market.

Operating room equipment market, by end use, 2016 (%)

Operating room equipment market

Grand View Research has segmented the operating room equipment market on the basis of product, end-use, and region:

Operating Room Equipment Product Outlook (Revenue, USD Million, 2014 – 2025)

  • Anesthesia Devices

  • Endoscopes

  • Operating Room Tables

  • Operating Room Lights

  • Electrosurgical Devices

  • Surgical Imaging Devices

  • Patient Monitors

  • Others

Operating Room Equipment End-Use Outlook (Revenue, USD Million, 2014 – 2025)

  • Hospitals

  • Ambulatory Surgical Centers

Operating Room Equipment Regional Outlook (Revenue, USD Million, 2014 – 2025)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • UK

  • Asia Pacific

    • China

    • Japan

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

    • South Africa

Related Reports:

RFID Kanban Systems MarketIncreasing demand for asset tracking and controlling devices and drugs stockouts in the medication supply rooms are two primary drivers of the RFID kanban systems market.

Medical Nonwoven Disposables MarketGrowing prevalence of incontinence coupled with increasing the prevalence of hospital-acquired infections is expected to drive the medical nonwoven disposables market during the forecast period

Explore the BI enabled intuitive market research database, Navigate with Grand View Compass, by Grand View Research, Inc.

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

 

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
State: California
Country: United States
Website: www.grandviewresearch.com/industry-analysis/operating-room-equipment-market