SAN FRANCISCO, June 22, 2023 /PRNewswire/ — The global operating room equipment market size is expected to reach USD 75.4 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.4% from 2023 to 2030. The key factors driving the market growth include an accelerating number of surgeries, an increasing burden of disease, a rising geriatric population, operating room (OR) technologies, expansion of hospitals with new operating rooms, and government support are the factors driving the operating room equipment market.
Key Industry Insights & Findings from the report:
- On the basis of product, the anesthesia segment held the largest market share of 29.86% in 2022. Technological advancements, minimally invasive surgeries, and the presence of various types of anesthesia devices are factors driving the market.
- On the basis of end users, the hospital segment dominated the operating room equipment market with a revenue share of 75.06% in 2022. The growth is attributed to the demand for operating room equipment in hospitals owing to the burden of diseases, the rising number of surgical procedures, the developing healthcare infrastructure with new operating rooms, favorable reimbursements, etc.
- North America dominated the market in 2022, accounting for the largest market share of 35.99%, and is anticipated to maintain this position over the forecast period. The demand for minimally invasive surgeries, penetration of technology, and the developing of new operating rooms are flourishing in the market.
- The Asia Pacific region is expected to witness growth at a rapid pace over the forecast period. The region is driven by factors such as big patient pool of chronic diseases, and rising number of hospitals, emerging demand for OR equipment in operating rooms.
Read full market research report, “Operating Room Equipment Market Size, Share & Trends Analysis Report By Product (Anesthesia, Endoscopes, Electro Surgical Devices, Surgical Imaging), By End User, By Region, And Segment Forecast, 2023 – 2030”, published by Grand View Research.
Operating Room Equipment Market Growth & Trends
According to NCBI study, 310 million major procedures are conducted a year worldwide, with between 40 to 50 million taking place in the United States and 20 million in Europe. Additionally, The British Heart Foundation’s 2021 study revealed that 371,000 heart procedures and operations took place in England during 2020. Furthermore, another NCBI article from 2022 indicates that almost 400,000 Coronary Artery Bypass Grafting (CABG) surgeries are performed each year.
The rising geriatric population and the increasing prevalence of lifestyle diseases also contribute to the growth of this market by augmenting the annual rate of surgeries. All such factors are expected to fuel the growth of market.
The market was significantly impacted by COVID-19. The high risk of COVID-19 transmission in ORs, surgery suspension, and declining rate of surgeries have impacted the market to some extent. Furthermore, surgical delays throughout across the hospitals and cancellation of non-urgent procedures have potentially resulted in worsened patient outcomes. These factors have significantly created losses in hospital revenue as well as the growth of the operating room market. Also, major players such as Medtronic and Stryker witnessed decrease in their overall revenue due to negative impact of pandemic.
Furthermore, the key participants are engaged in different strategies to expand their global footprints with innovation, mergers & acquisitions, agreements, collaborations, product launches, and installation of operating rooms across the globe. For example, Steris Corporation has installed more than 6,000 operating rooms across North America.
Operating Room Equipment Market Report Scope
|
Report Attribute |
Details |
|
Market size value in 2023 |
USD 45.7 billion |
|
Revenue forecast in 2030 |
USD 75.4 billion |
|
Growth rate |
CAGR of 7.4% from 2023 to 2030 |
|
The base year for estimation |
2022 |
|
Historical data |
2018 – 2021 |
|
Forecast period |
2023 – 2030 |
Operating Room Equipment Market Segmentation
Grand View Research has segmented the global operating room equipment market on the basis of product, end user, and region:
Operating Room Equipment Market – Product Outlook (Revenue, USD Billion, 2018 – 2030)
- Anesthesia
- Endoscopes
- Electro Surgical Devices
- Surgical Imaging
- OR Tables
- OR Lights
- Patient Monitoring
- Others
Operating Room Equipment Market – End-user Outlook (Revenue, USD Billion, 2018 – 2030)
- Hospitals & Clinics
- Ambulatory Surgical Centers
Operating Room Equipment Market – Regional Outlook (Revenue, USD Billion, 2018 – 2030)
- North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Sweden
- Norway
- Denmark
- Asia Pacific
- Japan
- China
- India
- Australia
- Thailand
- South Korea
- Latin America
- Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Kuwait
List of Key Players of Operating Room Equipment Market
- Koninklijke Philips N.V
- Medtronic
- Getinge AB
- Stryker Corporation
- Siemens Healthineers AG
- GE HealthCare
- Steris
- Skytron, LLC
- Drägerwerk AG & Co. KGaA,
- Baxter International Inc.
Check out more market research studies published by Grand View Research:
- Sterilization Equipment Market – The global sterilization equipment market size is expected to reach USD 15.6 billion by 2030, registering a CAGR of 10.6%, according to a new report by Grand View Research, Inc. The rising incidence of Hospital Acquired Infections (HAIs), impact of the COVID-19 outbreak, and the increasing number of surgical procedures are the key driving factors of the market. The recent outbreak of COVID-19 is anticipated to significantly impact the market. The pandemic caused by the virus SARS-CoV-2 has drastically increased the demand for medicines, emergency supplies, and hospital equipment including gowns, antiseptics, and disinfectant products.
- Durable Medical Equipment Market – The global durable medical equipment market size is expected to reach USD 331.1 billion and register a CAGR of 5.9% from 2022 to 2030, according to a new report by Grand View Research, Inc. The market is primarily driven by a rise in chronic diseases, such as kidney failure and cancer. Moreover, technological advancements along with a strong reimbursement scenario are likely to boost the durable medical equipment (DME) market over the forecast period.
- Medical Equipment Maintenance Market – The global medical equipment maintenance market size is expected to reach USD 61.7 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.9% from 2021 to 2027. Rising focus on preventive device maintenance, adoption of advanced funding mechanisms, growth of the associated devices markets, and increasing market share of refurbished medical devices are anticipated to drive the market over the forecast period.
Browse through Grand View Research’s Medical Devices Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: [email protected]
Web: https://www.grandviewresearch.com
Grand View Compass | Astra ESG Solutions
Follow Us: LinkedIn | Twitter
Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg
SOURCE Grand View Research, Inc.
