Increasing preference for non-invasive surgical procedures will remain a key factor driving product development and commercialization in the operating room equipment market for the foreseeable future.
Increasing preference for non-invasive surgical procedures will remain a key factor driving product development and commercialization in the operating room equipment market for the foreseeable future.
Fact.MR, Dubai: Market research company Fact.MR’s ongoing operating room equipment market study has estimated strong growth in the coming decade, driven by increased emphasis being placed on sterile patient care environment. The covid-19 pandemic has generated significant growth opportunities in the industry owing to growing demand in severe cases through the crisis.
The global healthcare sector is witnessing a transition from invasive to minimally invasive, and noninvasive procedures. Minimally invasive surgery, robotic surgery, image-guided procedures, and remote-surgery are expected to increasingly replace conventional surgical procedures.
According to the US, National Library of Medicine, surgical resections are likely to be replaced by minimally invasive procedures, and image-guided therapeutic procedures. Surgical endoscopic procedures will become increasingly prominent owing to the development of novel closure technologies and the application of flexible endoscopic devices.
“The operating room equipment market is expected to witness a moderate rate of growth through the forecast period, owing to use in medical settings & increased OR equipment investments and funds by government bodies internationally. High costs and frequent upgrades has reduced scope of sales, and bolstered interest in leased use” says the Fact.MR analyst.
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Key Takeaways from Fact.MR’s Operating Room Equipment Study
- Anesthesia delivery devices are likely to witness increased adoption owing to extensive application in surgery centers.
- Endoscopic technology contributes to demand owing to minimally invasive surgical applications.
- Ambulatory surgical centers are displaying strong growth in adoption of equipment owing to strong demand from physicians and insurers.
- Hospitals will remain a major source of revenue generation supported by frequent investments towards upgrades.
- United States will reflect strong uptake on the back of sophisticated infrastructure and large geriatric population base.
- Medical tourism investments in India and China generate high potential for growth.
Operating Room Equipment Market- Prominent Drivers
- Growing numbers of surgical procedures and new technologies is driving market developments.
- Growing popularity of minimally-invasive and non-invasive surgical procedures generates growth opportunities.
- Growing investments in emerging economies towards the healthcare sector and medical tourism will support growth.
Operating Room Equipment Market- Key Restraints
- Prohibitive costs and frequent maintenance requirements for operating room equipment remains a major challenge for market players.
- Shortage of adequate infrastructure, and skilled professionals particularly in developing countries is likely to hinder back market growth.
Discover more about the operating room equipment market with figures, data tables and the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/192/operating-room-equipment-market
Competitive Landscape
Steris Plc, Stryker Corporation, Getinge AB, Hill-Rom Holdings Inc., Dragerwerk AG & Co. KGaA, Mizohu OSI Inc. Koninklijke Philips N.V., KARL STORZ GmbH & Co. KG, Medtronic plc, and General Electric Company, are some of the leading players operating in the global operating room equipment market.
Leading players in the operating room equipment market are displaying interest in gaining long-term contracts with end user facilities in addition to consolidation of market position through research and development endeavors for product improvement.
In December 2020, Caresyntax, a leader in surgical automation announced an agreement with the University of Iowa Health Care to install hardware, for the collection of real-time audio-visual data on surgical procedures using the CX-ADVANCE digital surgery platform.
In October 2020, Sabic revealed a new grade of copolymer resin materials, which has been formulated for production of surgical equipment under its LNP ELCRES CRX copolymer portfolio, resistant to environmental stress cracking from aggressive disinfectants.
More Insights on the Operating Room Equipment Market
In a new report, Fact.MR provides an unbiased analysis on the global operating room equipment market. For better comprehension of the global market potential, and scope for growth, the market has been segmented on the basis of product (movable imaging systems, biomedical systems, endoscopes, anesthesia systems, operating tables, operating room lights, and others), and end user (hospitals, ambulatory surgical centers, and specialty clinics), across 6 key regions (North America, Latin America, Europe, Japan, Asia Pacific excluding Japan, and Middle East & Africa).
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Source: Fact.MR