A sterile environment where surgical operations are carried out to address various physiological and pathological conditions is referred to as the operating room (OR). Innovation-filled operating rooms provide surgeons and interventionalists with more autonomy and control. More operational efficiency and improved patient care are benefits of accurate tools and equipment in an operating room. Operation theatre and operating suite are other names for the operating room (OR).
There will be a major impact on the market for operating room equipment from the increasing number of hospitals globally. Growing rates of pathological and physiological illnesses and increasing urbanization are the primary factors propelling the development of the global operating room equipment market.
The expense of healthcare infrastructure and the increase in regulatory clearance are two further reasons driving market development. Growing research and development projects will help the global market for operating room equipment. Market players will also encourage development by providing new indications and target applications linked to a robust product pipeline.
Market Size and Growth Rate:
The Global Operating Room Equipment Market reached USD 30.1 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 42.7 billion by 2030. The Global Operating Room Equipment Market is expected to exhibit a CAGR of 4.6% during the forecast period 2023-2030. High-quality operating room equipment is essential for patients to be safe during surgical operations. Surgery lights, patient monitors, and anaesthesia equipment all assist in keeping an eye on vital signs, delivering anaesthesia, and providing the right amount of light so that doctors may do procedures accurately and safely.
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Operating Room Equipment Market Insights
A rising number of surgeries will drive the market growth
The increasing number of surgeries will drive the market. For example, the Aesthetic Society released its annual Aesthetic Plastic Surgery Statistics on April 11, 2023. These statistics, which were gathered using the Society’s new, more accurate digital technology, indicate that 2021 will see an increase in aesthetic plastic surgery.
The information reveals a notable increase in torso, breasts, and face treatments. Attractive body surgeries, including liposuction, buttock augmentation, and abdominoplasty, have increased by 63% since 2020.
There was a 48% rise in breast augmentation, augmentation/breast lift, and breast lift/reduction procedures. Specialized cosmetic procedures, including facelifts and brow lifts, increased by 54% last year. Consequently, there are more procedures performed, which fuels market expansion.
A growing focus on cost reduction and productivity enhancement in hospitals will boost market growth.
Due to increasing health insurance premiums, demand for high-quality healthcare services, an ageing population, and a rise in chronic illnesses, healthcare costs have increased significantly over the last several decades.
Another major contributor to rising healthcare costs is the heavy use of outdated methods like paper-based patient records, which increase readmission rates, medical errors, and administrative costs. With effective healthcare I.T. solutions, governments and healthcare systems worldwide focus on lowering patient readmissions, medical errors, and administrative costs to control growing healthcare costs. Operating rooms account for 70% of hospital income and 40% of expenses.
Market Segmentation Analysis:
The operating room equipment market is segmented by product type into operating tables, surgical lights, surgical imaging displays, operating room integration systems, anesthesia systems, surgical booms, and others, by end-user into hospitals and ambulatory surgery centers.
- Based on product type, The operating room integration systems segment, which provides a centralized control system for various operating room instruments and apparatus, represents another sizable market segment. These solutions may improve operational efficiency, lower the possibility of mistakes, and raise patient safety. The growing trend in healthcare towards automation and digitalization and the growing demand for integrated operating room solutions are expected to drive growth in this market.
- On April 26, 2023, The PxLens, the newest device in Proximie’s new range of surgical care-transforming devices, will be available in the GCC starting this month. Proximie is a global health technology platform that digitises operating rooms (ORs). A lightweight, wearable smart glasses device with inbuilt software is called the PxLens. Doctors may provide a “first-person” account of open operations and minimally invasive treatments using this head-mounted device.
- On November 14, 2022, one of the top producers of medical equipment worldwide, Stryker, unveiled the OR of the Future, a prototype operating room located inside the company’s Flower Mound facility that provides visitors with an unparalleled interactive experience to help envision future OR architecture and technology.
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The Global Operating Room Equipment Market is segmented into major regions: North America, South America, Europe, Asia Pacific, Middle East, and Africa.
North America Accounted for Approximately 44.1% of the Market Share in 2022
Due to the rise in ambulatory surgical facilities and the prevalence of long-term illnesses. The market is anticipated to rise due to the established healthcare infrastructure and demand for minimally invasive operations.
Moreover, it is anticipated that growing expenditures made by industry players in developing operating room equipment will lead to the introduction of novel items into the market, driving regional market growth throughout the forecast period.
For Instance, Getinge debuted the Torin AI-based OR management system in the US in June 2021. These developments are anticipated to promote software acceptability and, therefore, the growth of the market in this area.
Key Companies and Market Share Insights
The major global players in the Operating Room Equipment market include
- Philips Healthcare
- Maquet Holding
- General Electric Company
- Getinge AB
Medtronic plc is a US-based manufacturer of medical devices. Due to its 2015 purchase of the Irish-based Covidien, the firm now has its legal, executive, and operational headquarters in Ireland and its operating headquarters in Minneapolis, Minnesota. They combine cutting-edge medical research, technology, and a thorough knowledge of the body to provide previously unheard-of treatments. The potential to change lives is limitless, whether via the development of the tiniest pacemaker or less invasive surgical techniques to reduce a patient’s recovery time.
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