New York, NY -- (SBWIRE) -- 05/06/2021 -- The Operating Room Equipment Market was valued at USD 27.16 billion in 2019 and is expected to reach USD 35.96 billion by the year 2027, at a CAGR of 3.6%. The equipment used in the various surgical procedures in the operating rooms present in hospitals and clinics is of crucial importance for patient compliance. The operating rooms equipment market is widely driven by the increasing favourable funding scenario by government and other bodies. Moreover, number of hospitals in various developing regions such as China, India, and others has expanded as a result of increased medical tourism. Operating Room Equipment market in regions such as Thailand, the Philippines, Malaysia, and Taiwan regions are growing at a faster pace as more hospitals and clinical setups are introduced in the region. The increasing technological advancements in the operating room equipment for better outcomes in the surgical procedures are expected to fuel the market. For instance, hybrid operating room is designed with the latest interventional devices and medical imaging systems. The technology has successfully reshaped the industrial dynamics of healthcare. Additionally, the rising geriatric population, which is considered to be highly prone to various diseases owing to surgical assistance, would also contribute to the market growth. For instance, the World Population Prospects by the United Nations estimate that the global geriatric population is expected to double by 2050, and is expected to be 2.1 billion in 2050 from 962 million in 2017. The risings cases of chronic diseases, roadside accidents, and household mishaps could also drive the market intensely in various regions. For instance, according to the American College of Cardiology, cardiovascular diseases remain the leading cause of death in chronic diseases. In 2019, there were around 1,055,000 cases of coronary events recorded in the United States. Advanced infrastructure of operating rooms equipped with technically advanced devices offers ease of handling and greater flexibility to ensure better operational efficiency and patient care. For instance, monitors used in operating room are now voice-controlled surgical technology which is a safety improvement trend. This, in turn, is expected to have a significant impact on the global demand for equipment for the operating rooms. Furthermore, huge investments are provided to multiple specialty hospitals to improve their facilities and infrastructure for patient health. However, the price and unaffordability in emerging economy could be a restraining factor that may hinder the market growth during the forecast period.

COVID-19 impact
There are presently increasing amounts precautions concerning protecting the health care worker, including in the operation room. With the outbreak of COVID-19, rising interest of foreign hospital chains in expanding their networks in the developing economies. Quick adoption of strategic initiatives such as growing collaborations between hospitals & foreign investors are anticipated to drive the market during the pandemic. As a result of the outbreak, government authorities are increasingly concerned about the health and safety of citizens and healthcare workers. For instance, American College of Surgeons have laid down certain guidelines and recommendations for personnel in the operating room, as well as how to minimize risk of COVID infection. Moreover, the regulatory bodies and governments of various countries have issued numerous safety regulations to combat the pandemic. However, there has been a supply shortage of medical equipment due to increasing COVID-19 cases, stock piling and misuse.

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Further key findings from the report suggest:
Various technological innovations in devices and systems along with mergers and acquisitions, are increasing the market growth. For instance, KT Corporation, which is Korea's largest telecommunication company and Samsung Medical Center have jointly introduced world's first 5-G powered medical service which is the first step to introduce a 5G smart hospital.

In addition, rapid adoption of the Anesthesia Information Management Systems (AIMS) in the hospitals contributes to the large share of the revenue share during the forecast period. Hospitals all over the world are focusing on investing in the upgradation of operation theaters owing to the growing demand for hybrid operating rooms and increasing investments in infrastructure & advanced technologies for efficient outcomes.

Furthermore, the advanced and innovative technology includes various innovative features such as autonomous robot for operating rooms, digital diagnostic pathology, and artificial intelligence enabled care for in-patients and many other features.

Many institutes have invested to build highly equipped and other important facilities in the operating rooms for efficient results. For instance, Jupiter Medical Center has introduced a project representing a surgical institute worth USD 80 million. The institute is a 90,000 square feet area and includes 16 smart operating rooms with two other hybrid operating rooms.

Furthermore, the smart operating rooms are designed to accommodate the facilities required for cardiovascular, orthopedic and general operations. The hybrid operating rooms would include minimally invasive surgeries and other open surgical procedures. The institute is expected to be open by the year 2023.

The rise in the prevalence of pathological and physiological diseases has led to a surge in the number of surgical procedures. Moreover, minimally invasive surgeries are gaining pace among patients for their numerous benefits, including minimal trauma, cost-effective procedures, and reduced hospital stays. All these factors increase the demand to upgrade operating rooms with reliable and efficient equipment, which eventually is expected to contribute to the global expansion of the operating room equipment market.

Operating room equipment manufacturers are offering next generation ultrasonic surgical devices to simplify complex surgical procedures. For instance, Modern ultrasonic surgical devices are multifunctional instruments that is capable of performing tissue plane dissection, coagulation, and transection during laparoscopic or open surgical procedures. Such products are expected to provide traction to the market during the forecast period.

Key participants in the market include Koninklijke Philips N.V., STERIS plc, Stryker Corporation, Siemens Healthineers, Hill-Rom Holdings, Inc., Medtronic, Inc., Drägerwerk AG & Co. KGaA, Getinge Group, GE Healthcare, and Mizuho OSI.

For the purpose of this report, Reports and Data has segmented the Operating Room Equipment market on the basis of type, end use and region:

By Type Outlook (Revenue in Million USD; 2017–2027)
Anesthesia Machines
Electrosurgical Units
Diagnostic Imaging Devices
Multi-parameter Patient Monitors
High Acuity
Medium Acuity
Low Acuity
Surgical Imaging Devices
Mobile C-Arms
Mini C-Arms
Operating Tables
Traditional Lights
LED Lights
Operating Room Lights
Others

By End Use Outlook (Revenue in Million USD; 2017–2027)
Hospitals
Outpatient Facilities
Ambulatory Surgery Centers (ASCs)

Regional Outlook (Revenue in Million USD; 2017–2027)
North America
Canada
Europe
Germany
UK
France
Spain
Italy
Rest of the Europe
Asia Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Middle East & Africa
Latin America
Brazil

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Key questions addressed in the report are:
What is the estimated market size and share in the forecast period?
What are the key driving factors of the Global Operating Room Equipment Market?
What are the risks and challenges the companies will have to face in the forecast period?
What are the emerging trends, and how will they influence market growth?
What are the opportunities for expansion of the global Operating Room Equipment Market?
Which region is expected to dominate the market during the forecast period?

Table of Contents:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique

Chapter 2. Executive Summary
2.1. Summary Snapshot, 2017-2027

Chapter 3. Indicative Metrics
3.1. Macro-Economic Indicators
3.1.1. Increasing incidence of chronic diseases
3.1.2. Growing government initiatives for healthcare setup

Chapter 4. COVID 19 impact assessment
4.1. Operating Room Equipment Industry Outlook
4.1.1.1. Q1 2020
4.1.1.2. Q2 2020
4.1.1.3. Q3 2020
4.2. Rising Demand for Operating Room Equipment market due to COVID-19 pandemic
4.2.1. Scenario 1: Operating Room Equipment market decreased by 4%
4.2.1.1. Scenario 1 timeline
4.2.1.2. Key indicators for scenario 1
4.2.1.3. Covid-19 virus impact on global Operating Room Equipment market revenue, 2019–2027: scenario-1
4.2.2. Scenario-2: Operating Room Equipment market grows by 10%
4.2.2.1. Scenario 2 timeline
4.2.2.2. Key indicators for scenario 2
4.2.2.3. Covid-19 virus impact on global Operating Room Equipment market revenue, 2019–2027: scenario-2
4.2.3. Scenario-3: Operating Room Equipment market grows by 15%
4.2.3.1. Scenario 3 timeline
4.2.3.2. Key indicators for scenario 3
4.2.3.3. Covid-19 virus impact on global Operating Room Equipment market revenue, 2019–2027: scenario-3
4.2.4. Scenario-4: Operating Room Equipment market grows by 25% and more
4.2.4.1. Scenario 4 timeline
4.2.4.2. Key indicators for scenario 4
4.2.4.3. Covid-19 virus impact on global Operating Room Equipment market revenue, 2019–2027: scenario-4
4.3. Supply chain stabilization
4.3.1.1. Supply scenario
4.3.1.2. Demand scenario
4.4. Upcoming strategies required to combat the current situation

Chapter 5. Global Operating Room Equipment Market Segmentation & Impact Analysis
5.1. Global Operating Room Equipment Market Segmentation Analysis
5.2. Industrial Outlook
5.3. Market Indicators Analysis
5.3.1. Market Drivers Analysis
5.3.1.1. Increasing technological advancements
5.3.1.2. Rising approvals for various operating devices
5.3.1.3. Global rise in the geriatric population
5.3.2. Market Restraints Analysis
5.3.2.1. Higher cost of equipment
5.4. Regulatory Framework
5.5. Porter's Five Forces Analysis

Chapter 6. Global Operating Room Equipment Market by Type Insights & Trends
6.1. Operating Room Equipment Type Dynamics & Market Share, 2020 & 2027

Continued…..