Global Operating Room Equipment Market Insights Forecasts to 2032

• The Operating Room Equipment Market was valued at USD 31.5 Billion in 2021.
• The market is growing at a CAGR of 5.2% from 2022 to 2032
• The global Operating Room Equipment Market is expected to reach USD 43.9 billion by 2032
• Asia Pacific is expected to grow the fastest during the forecast period

The Global Operating Room Equipment Market is expected to reach USD 43.9 billion by 2032, at a CAGR of 43.9% during the forecast period 2022 to 2032.

The operating room (OR) is a setting where patients are subjected to surgical treatments and procedures to address a variety of pathological and physiological disorders. The operating room serves as a sterile, inert, and secure setting for surgical procedures. Therefore, it is essential to supply reliable equipment, which results in successful surgical procedures. Over the past ten years, improvements in equipment, like surgical navigation systems, have expedited operating room operations. Technologically sophisticated operating room technology gives surgeons and interventionalists more freedom and control. Better patient care and increased operational efficiency are guaranteed by operating rooms with precise tools and equipment.

Impact of COVID 19 On Global Operating Room Equipment Market

COVID 19 pandemic has resulted into a significant impact on the global operating room equipment market. As the pandemic begun, the number of surgeries have declined at a significant rate  due to the strict rules imposed by the regulatory authorities in order to avoid all non emergent surgeries. As per the article published in the National Institute of Health in October 2021, there has been a drop of surgeries by 42.8% across the world. Having said that the increasing surgeries in the present scenario is owing to the relaxation of lockdown restrictions. On the other hand, an article published by JKNS in July 2022 states that the number of spine surgeries have surged exponentially. Hence, the increasing number of surgeries is anticipated to drive the market growth and going to continue the same over the upcoming years.

Key Market Drivers

The key market driver behind the growth of the global operating room equipment market is the increasing demand to deliver better patient care systems in a sterile environment across different healthcare facilities. Apart from this, the operating room equipment market is anticipated to develop owing to an increasing number of surgical procedures that are performed across the world. Moreover, minimally invasive operations are increasingly becoming popular among patients owing to various advantages which comprises less expensive procedures, less trauma, as well as shorter hospital stays. Hence, all these factors are driving the demand for better as well as more efficient operating room equipment which is going to expand the market.

Furthermore, increasing number of hospitals will act as a key contributing factor of the global operating room equipment market. Moreover, increasing urbanization as well as increasing cases of pathological and physiological diseases are the key factors contributing towards the growth of the global operating room equipment market. Furthermore, the increasing regulatory approval and increasing expenses on healthcare infrastructure are other factor accelerating the market growth. The increasing number of research and development activities will provide advantages to the global operating room equipment market. Apart from this, increasing extensive new indications and target applications linked  with robust product pipeline provided by the market players will contribute towards the market growth.

Key Market Challenges

The increasing cost associated with the operating room equipment are restraining its usage especially in low income nations will affect the growth of the global operating room equipment market. On the other hand, the lack of skilled Healthcare professionals in the under developed countries will hamper the Global operating room equipment market. Apart from this with the emergence of unfavourable conditions due to the onset of the pandemic will act as another restraining factor that will affect the market growth. 

Market Segmentation

Product Insights

The Anesthesia device segment to dominate the market with the largest market share over the forecast period

Based on the product, the global operating room equipment market is segmented into Anesthesia Devices, Endoscopes, OR Tables, OR Lights, Electrosurgical Devices. Among these, the anesthesia device segment is anticipated to dominate the market with the largest market share over the forecast period. Technological advancement as well as the increasing use of anaesthesia machines in the surgical centres is contributing towards the growth of this segment. Anesthesia machines are mostly used in various types of surgeries. In addition the increasing adoption of anaesthesia information management system is contributing towards the largest revenue share. The increasing number of chronic diseases has resulted into the rise in the number of surgeries. Anaesthesia place an important role in surgery and anaesthesia equipment contributes towards the growth of this segment because of sufficient and  accurate delivery of anaesthesia at the time of surgical procedures. Moreover the increasing number of elderly people who are prone to different degenerative diseases and disorders are contributing towards the demand of surgeries. 

On the other hand endoscopes segment is anticipated to witness the fastest market growth over the forecast period. Increasing preferences for endoscopic procedures, minimally invasive procedures and rising awareness of technology innovation in surgical procedures are driving the growth of this segment over the upcoming years. Moreover, increasing cases of gastrointestinal disorders,  cancer,  and Lifestyle based diseases are fueling the demand of the segment.

End Use Insights

Hospital segment holds the highest market share over the forecast period.

On the basis of end use, the global operating room equipment market is segmented into hospitals and ambulatory surgical centers. Among these, hospital segment holds the highest market share over the forecast period. Hospitals are increasingly investing in the upgradation of operation theatres because they are the highest revenue generating sources. Apart from this the increasing demand for hybrid operating rooms along with investment made in advanced technology and infrastructure to get efficient outcomes are driving the growth of the segment. 

Ambulatory surgical centres on the other hand is anticipated to witness the fastest market growth over the forecast period. The growth is attributed to the increasing number of Ambulatory surgical centre due to the demand of key market player in surgical care which comprises of physicians, patients and insurers. The increasing number of Ambulatory surgical Centre  as well as demand is driven by the high quality and cost effective practices by physicians are expected to drive the market growth.

Regional Insights

North America is dominating the market with the largest market share over the forecast period

North America is dominating the market with the largest market share over the forecast period. Key market growth factors include the increased prevalence of chronic diseases in the area, a sizable geriatric population, an advanced healthcare infrastructure, and an increase in ambulatory surgery centres. Growth in the area is also being fueled by increased adoption of technical breakthroughs and rising demand for minimally invasive surgeries.

Asia Pacific region, on the other hand witnessed the fastest market growth over the forecast period. The rising frequency of chronic diseases in the region, a sizeable geriatric population, an improved healthcare infrastructure, and an increase in ambulatory surgery facilities are important market growth drivers. Increased adoption of technological advancements and rising demand for minimally invasive procedures are other factors driving growth in the field.

Recent Market Developments

• In July 2022, Zsquare which is a developer of high performance, and single use endoscopes has received Food and Drug Administration 510K clearance to promote its product.
• In June 2022, Getinge has released its updated version of the ED-flow automated endoscope reprocessor which feature a higher level of digital connectivity and data management to its customers.

List of Key Companies

• MIZUHO OSI
• KONINKLIJKE PHILIPS N.V.
• GENERAL ELECTRIC COMPANY
• KARL STORZ GMBH & CO. KG
• MEDTRONIC PLC
• STERIS PLC
• STRYKER CORPORATION
• HILL ROM HOLDING INC. (WELCH ALLYN, DRÄGER SAFETY AG & CO. KGAA
• GETINGE GROUP

Market Segment

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global Operating Room Equipment Market based on the below-mentioned segments:

Operating Room Equipment Market, Product Analysis

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

Operating Room Equipment Market, End User Analysis

• Hospitals
• Ambulatory Surgical Centres

Operating Room Equipment Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa