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.
COVID-19 impactThere are presently increasing amounts precautions concerning protecting the health care worker, including in the operation room. With the outbreak of COVID-19, rising interest of foreign hospital chains in expanding their networks in the developing economies. Quick adoption of strategic initiatives such as growing collaborations between hospitals & foreign investors are anticipated to drive the market during the pandemic. As a result of the outbreak, government authorities are increasingly concerned about the health and safety of citizens and healthcare workers. For instance, American College of Surgeons have laid down certain guidelines and recommendations for personnel in the operating room, as well as how to minimize risk of COVID infection. Moreover, the regulatory bodies and governments of various countries have issued numerous safety regulations to combat the pandemic. However, there has been a supply shortage of medical equipment due to increasing COVID-19 cases, stock piling and misuse.
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Further key findings from the report suggest
For the purpose of this report, Reports and Data has segmented the Operating Room Equipment market on the basis of type, end use and region:
By Type Outlook (Revenue in Million USD; 2017–2027)
By End Use Outlook (Revenue in Million USD; 2017–2027)
Regional Outlook (Revenue in Million USD; 2017–2027)
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Table of Contents:
Chapter 1. Market Synopsis 1.1. Market Definition 1.2. Research Scope & Premise 1.3. Methodology 1.4. Market Estimation Technique
Chapter 2. Executive Summary 2.1. Summary Snapshot, 2017-2027
Chapter 3. Indicative Metrics 3.1. Macro-Economic Indicators 3.1.1. Increasing incidence of chronic diseases 3.1.2. Growing government initiatives for healthcare setup
Chapter 4. COVID 19 impact assessment
Chapter 5. Global Operating Room Equipment Market Segmentation & Impact Analysis
Chapter 6. Global Operating Room Equipment Market by Type Insights & Trends
Chapter 7. Global Operating Room Equipment Market, by End Use Insights & Trends
Chapter 8. Global Operating Room Equipment Market Regional Outlook
Chapter 9. Competitive Landscape
Chapter 10. Company Profiles 10.1. Koninklijke Philips N.V. 10.1.1. Company Overview 10.1.2. Financial Insights 10.1.3. Products Offered 10.1.4. Strategic Initiatives 10.2. STERIS plc 10.2.1. Company Overview 10.2.2. Financial Insights 10.2.3. Products Offered 10.2.4. Strategic Initiatives 10.3. Stryker Corporation 10.3.1. Company Overview 10.3.2. Financial Insights 10.3.3. Products Offered 10.3.4. Strategic Initiatives 10.4. Siemens Healthineers 10.4.1. Company Overview 10.4.2. Financial Insights 10.4.3. Products Offered 10.4.4. Strategic Initiatives 10.5. Hill-Rom Holdings, Inc. 10.5.1. Company Overview 10.5.2. Financial Insights 10.5.3. Products Offered 10.5.4. Strategic Initiatives 10.6. Medtronic, Inc. 10.6.1. Company Overview 10.6.2. Financial Insights 10.6.3. Products Offered 10.6.4. Strategic Initiatives 10.7. Drägerwerk AG & Co. KGaA 10.7.1. Company Overview 10.7.2. Financial Insights 10.7.3. Products Offered 10.7.4. Strategic Initiatives 10.8. Getinge Group 10.8.1. Company Overview 10.8.2. Financial Insights 10.8.3. Products Offered 10.8.4. Strategic Initiatives 10.9. GE Healthcare 10.9.1. Company Overview 10.9.2. Financial Insights 10.9.3. Products Offered 10.9.4. Strategic Initiatives 10.10. Mizuho OSI 10.10.1. Company Overview 10.10.2. Financial Insights 10.10.3. Products Offered 10.10.4. Strategic Initiatives
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