South Korea, Seoul, September 02, 2022 (GLOBE NEWSWIRE) — Fact.MR – A market research and competitive intelligence provider: Historically, global operating room equipment experienced a significant CAGR of 5.3% during the period 2012-2016 due to the increasing prevalence of pathological and physiological disorders combined with continuous efforts to improve the healthcare industry around the world.
One of the major factors fueling the growth of the operating room equipment market is the increase in the need to provide a better patient care system in a sterile environment in the healthcare industry.
Healthcare professionals and surgeons prefer operating rooms equipped with state-of-the-art equipment that offers greater flexibility to ensure better operational efficiency and better patient care. This is likely to influence the global operating room equipment market.
Increasing growth in the availability and accessibility of healthcare facilities, particularly in developing economies, combined with initiatives to increase the number of hospitals and improve medical tourism are expected to further drive growth of the market.
Additionally, in the operating room equipment industry, leading manufacturers are constantly focusing on incorporating innovative technologies into a wide variety of medical devices. The surge in the adoption of virtual reality equipped devices and patient imaging in the healthcare sector is likely to open up new growth avenues for the operating room equipment market.
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Key points to remember:
- North America is expected to dominate the operating room equipment market, accounting for a relatively large percentage of revenue share. This domination is due to the proliferation of outpatient surgery centers and heavy investments by hospitals to modernize operating theaters.
- APEJ is expected to be the fastest growing market over the forecast period. Moreover, the market witnessed a robust CAGR of 6.7% during the period 2017-2022.
- Rising need to provide better patient care system in sterile environment is expected to fuel the growth of the market.
- Growing demand for operating rooms equipped with technically advanced devices that offer ease of handling and greater flexibility to ensure better operational efficiency.
- The increase in the prevalence of physiological and pathological diseases has led to an increase in the number of surgical interventions. Minimally invasive surgeries are gaining ground
- Electrosurgical technology using electric power is a key growth driver for the operating room equipment market, which will continue to shape the market in the coming years.
- Operating room equipment used in surgical procedures are usually one-time sales, which may restrain market growth. It also makes it difficult for manufacturers in the operating room equipment industry to generate revenue and increase profit.
- High operating room equipment costs are limiting their penetration, especially in low-income countries, acting as a barrier to market growth.
- Unfavorable healthcare reforms in countries like the United States could pose a potential threat to market expansion.
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More valuable information about operating room equipment market
- In March 2019, Getinge AB announced the release of an updated version of its mechanical ventilator – Servo-u 4.0. This device offers personalized lung protection and transpulmonary pressure monitoring functions. These are used to simplify complex procedures for clinicians and simultaneously make them safer for patients.
- Stryker Corporation had completed its acquisitions of OrthoSpace, Ltd, a private company based in Israel. According to Stryker, the acquisition will complement its existing portfolio and align with the company’s focus on investing in sports medicine.
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