Operating Room Equipment Market Size, Share, Analysis, Trends, Growth, 2032

Operating Room Equipment Market Insights

According to Zion Market Research, the global Operating Room Equipment Market was worth USD 46.45 Billion in 2023. The market is forecast to reach USD 89.29 Billion by 2032, growing at a compound annual growth rate (CAGR) of 7.53% during the forecast period 2024-2032. The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Operating Room Equipment Market industry over the next decade.

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Operating Room Equipment Market: Overview     

Operating rooms are dedicated workspaces that are prepared with highly functional equipment of the very best quality, which surgeons and other OR personnel use to perform lifesaving procedures or Surgeries. Increasing preference for minimally invasive surgeries like cardiac, gastrointestinal, ENT, etc. which require OR equipment is further expected to foster the market demand for OR equipment in the coming five years. These minimally invasive aren't only also cost-effective but also reduce the patient stay duration during pre and post-procedures/operations. Additionally, the aging population including the increasing incidences of chronic diseases is expected to propel the expansion of this market in the coming five years. For instance, consistent with the U.S. Bureau of the Census, disorders, lung disease, cancer, and stroke are the leading killers of the population aged 60 and over.

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Operating Room Equipment Market: COVID-19 Impact Analysis  

Besides, the COVID-19 outbreak, there's a drastic rise in the demand for healthcare facilities across the world. 2020 has been a dramatic rush of ICU visits and checkups so far, all because of a pandemic that has shaken the entire world. The Novel Coronavirus that caused the COVID-19 disease unleashed a disaster of extraordinary proportions. As healthcare spending for COVID-19 increases exponentially, companies that conduct research, develop potential vaccines, produce test kits, and manufacture or supply medical equipment are likely to benefit the most. The reason is clear - governments across the world will invest in not only damage control, but also in the prevention of any potential resurgence of the pandemic. This also means that companies other than those manufacturing Personal Protective Equipment or infrastructure support that is not directly connected to COVID-19 would face disruptions in business.

Operating Room Equipment Market: Growth Factors

Major growth drivers for the OR equipment market are the increasing geriatric population including growing incidences of chronic disease and increasing awareness about the effectiveness of minimally invasive procedures. Additionally, an increasing number of ambulatory surgical centers and an outsized patient pool for surgeries, improving healthcare infrastructure, and affordability of the patients also are anticipated to fuel the expansion of this market within the forecast period. Furthermore, increasing investments in technological advancements in this field also supplemented the market growth within the forecast period.

Operating Room Equipment Market: Report Scope

End-User Segment Analysis Preview  

Based on end-user, the worldwide marketplace for OR equipment is segmented into hospitals, outpatient facilities, and ambulatory surgical centers. Hospitals accounted for the main share of this segment in 2018 due to the increased investments in healthcare infrastructure & the use of advanced technologies. However, ambulatory surgical centers are expected to witness the fastest growth within the forecast period due to increasing demand from healthcare participants in surgical care such as; healthcare professionals, patients, and insurers. Additionally, increasing demand for patient satisfaction, cost-effective procedures, and efficient practices by healthcare professionals also are expected to spice up the expansion of this market within the forecast period.

Product Segment Analysis Preview  

The operating room equipment market is segmented based on product, end-user, and region. The product segment is categorized into; anesthesia devices, endoscopes, operating room lights, operating tables, electrosurgical devices, surgical imaging devices, and patient monitors.  In this segment, anesthesia devices are expected to attribute the most important market share within the forecast period. The endoscopes are expected to point out the fastest growth within the coming five years due to increasing awareness about minimally invasive procedures and patients’ inclination toward endoscopic procedures.

Operating Room Equipment Market: Regional Analysis Preview

Based on geography, North America is predicted to capture the main share of this market within the forecast period due to the increasing number of ambulatory surgical centers and the increasing prevalence of chronic diseases. additionally, well-developed healthcare infrastructure and rising demand for minimally invasive surgeries also are anticipated to spice up the expansion of this market. North America is predicted to follow by Europe and therefore the Asia Pacific during this market within the forecast period.

Asia-Pacific is predicted to point out the fastest growth during this market due to the rising awareness about minimally invasive surgeries and improving healthcare infrastructure. additionally, increasing healthcare expenditure and a growing number of hospitals & healthcare facilities and government support in developing countries of this region have also boosted the expansion of this market. Latin America and the Middle East & Africa OR equipment market is estimated to point out a healthy growth within the forecast period.

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Operating Room Equipment Market: Key Players & Competitive Landscape

The major players that are comprised in  Operating Room Equipment market are

• Stryker Corporation, STERIS Corporation
• GE Healthcare
• Getinge Group
• Hill-Rom Holdings Inc.
• Drägerwerk AG & Co. KGaA
• Mizuho OSI
• Philips Healthcare
• Medtronic Inc.  
• KARL STORZ GmbH & Co. KG 
• among others.

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The global  Operating Room Equipment Market is segmented as follows:

By Product

• Anesthesia Devices
• Endoscopes
• Operating room Lights
• Operating Tables
• Electrosurgical Devices
• Surgical Imaging Devices
• Patient Monitors
• Others 

By End-User

• Hospitals
• Outpatient Facilities
• Ambulatory Surgical Centers

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa