Operating Room Equipment Market - Analysis & Global Forecast to 2020
According to the new market research report "Operating
Room Equipment Market by Equipment (Anesthesia Machines, Operating Tables), by Supplies
(Surgical Instruments, Disposable Materials), & by End-User (Hospitals,
Outpatient Facilities) - Analysis & Global Forecast to 2020", published
by MarketsandMarkets™, analyzes and studies the major market
drivers, restraints/challenges, and opportunities in North America, Europe,
Asia-Pacific, and the Rest of the world (RoW).
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The operating room equipment & supplies market is projected to reach USD 29.15 Billion by 2020 from USD 24.31 Billion in 2015, at a CAGR of 3.7% in the next five years (2015 to 2020). The growth of the overall market can be attributed to the growing investments, funds, and grants by government bodies worldwide, rising number of hospitals, increasing patient preference for minimally invasive surgeries, growing number of regulatory approvals for operating room equipment, and growing number of geriatric population coupled with the increasing number of surgeries globally.
In the coming years, the market is expected to witness the highest growth rate in the Asia-Pacific region. The high growth in the region can be attributed to growing number of hospitals in Asia, increasing number of German-Asian partnerships in Asia, government initiatives to increase the number of doctors in China, Japan’s growing healthcare industry, government funding in India, favorable healthcare system and conferences in Australia, increasing medical tourism in Thailand and Singapore, and increasing government investments in Philippines among others.
North America is expected to account for the largest share of the global market. North America’s leadership in the market can be attributed to the investments by hospitals to upgrade operating rooms; rising number of surgical procedures; increasing number of ambulatory surgery centers; and increasing prevalence of cardiovascular disease in the U.S. In Canada, market growth is mainly driven by rising public and private investments, implementation of a new funding model for Canadian hospitals, and conferences on operating room equipment and supplies.
Browse and in-depth TOC on "Operating Room Equipment & Supplies Market"
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North America is expected to account for the largest share of the global market. North America’s leadership in the market can be attributed to the investments by hospitals to upgrade operating rooms; rising number of surgical procedures; increasing number of ambulatory surgery centers; and increasing prevalence of cardiovascular disease in the U.S. In Canada, market growth is mainly driven by rising public and private investments, implementation of a new funding model for Canadian hospitals, and conferences on operating room equipment and supplies.
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Operating room supplies is
expected to account for the largest share of the market in 2015 and is expected
to register highest growth rate. The highest growth rate of operating room
supplies market can be attributed to the growing incidence of chronic diseases,
increase in the number of surgical procedures, and rising geriatric population.
In addition, governments across various countries are taking regulatory actions
to fortify hospitals with the essential infection control standards to prevent
the spread of HAIs (hospital-acquired infections), thus boosting the demand for
operating room supplies.
STERIS Corporation (U.S.),
Getinge Group (Sweden), Stryker Corporation (U.S.), Hill-Rom Holdings, Inc.
(U.S.), Drägerwerk AG & Co. KGaA (Dräger) (Germany), GE Healthcare (U.K.),
Mizuho OSI (U.S.), Philips Healthcare (The Netherlands), Medtronic, Inc.
(Ireland), and KARL STORZ GmbH & Co. KG (Germany) are some of the key
players in the market worldwide.
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