Albany, NY -- (SBWIRE) -- 01/12/2017 -- Transparency Market Research has published a new market report titled, "Operating Room Equipment Market – (Product Type – Movable Imaging Systems, Biomedical Systems, Endoscopes, Anesthesia Systems, Operating Tables, Operating Room Lights, Surgical Imaging Displays, Operating Room Integration Systems, Surgical Booms, and Microscopes) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2015–2023". According to the report, the global operating room equipment market was valued at US$ 23.94 Bn in 2014 and is projected to expand at a CAGR of 6.9% from 2015 to 2023 to reach US$ 42.87 Bn in 2023.

Operating rooms across the globe are witnessing rapid transformation from conventional to hybrid state-of-the-art operation theatres, as these generate higher revenue for hospitals. An operating room equipped with technically advanced equipment ensures better patient care and enhanced operational efficiency by empowering surgeons and other health care professionals with greater flexibility and ease of handling. Operating tables, operating room lights, surgical booms, operating room integration systems, and surgical imaging displays are the most important equipment found in an operating room. Geographically, the operating room equipment market has been studied for four prominent regions: North America, Europe, Asia Pacific, and Rest of the World. These regions are further assessed based on major contributing countries such as North America (the U.S. and Canada), Europe (the U.K. and Germany), Asia Pacific (India, China, and Rest of Asia Pacific), and Rest of the World (Latin America, Middle East & Africa).

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Continuous increase in the number of ambulatory surgical centers (ASCs) globally, growing demand for state-of-the-art hybrid operating rooms (especially from the developed markets in North America and Europe), and technical advances leading to product innovation are anticipated to contribute to the growth of the operating room equipment market from 2015 to 2023. Globally, rise in elderly population is also considered one of the major growth factors as it indirectly boosts demand for operating room equipment. This is because the elderly population is more likely to undergo various surgical procedures than younger population because of their higher susceptibility to numerous health disorders. On the other hand, high cost associated with these equipment could prevent health care providers to replace existing equipment with technically advanced equipment. This is especially true for hospitals operating on low budgets and prefer purchasing used or refurbished equipment.

North America was the largest market, followed by Europe, for operating room equipment in 2014. The market in North America was valued at US$ 10,639.8 Mn in the same year. The market in Asia Pacific is likely to record the highest CAGR (%) during the forecast year. The U.K. and Germany are important markets for operating room equipment in Europe. This is due to rapidly increasing population, growing need for patient monitoring and handling, and rising demand for improved patient care. According to the European Commission, the geriatric population in this region is higher than that in North America, with 66.8 million people (or 17% of the population) above 65 years of age in 2005. This geriatric population is expected to reach 110.7 million, or 28%, of the population of Europe by 2050.

Asia Pacific is witnessing increasing adoption of biomedical systems across hospitals and clinics. The operating room equipment market in the region recorded the largest growth rate, after North America and Europe. Presence of large patient pool in the region makes Asia-Pacific a potential market for operating room equipment. However, lack of funding for high cost operating room equipment is one of the major restraints of the market. According to the World Bank, India is likely to record the strongest economic recovery among other major developing nations between 2013 and 2016 and is expected to witness a growth rate of 7.1% in 2016, 2.3% up from 4.8% recorded in 2013. China's economic growth has been over 7.5% during 2013 and is expected to continue at a similar rate in future as well.

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Key players profiled in the operating room equipment market report encompass Allen Medical (Hill ROM), GE Healthcare, KARL STORZ GmbH & Co. KG, Mizuho OSI, Maquet Holding B.V. & Co. KG (Getinge AB), Olympus Corporation, Philips Healthcare, Siemens Healthcare, Skytron, LLC, Steris Corporation, Stryker Corporation, and TRUMPF GmbH + Co. KG.

The global operating room equipment market has been segmented as follows:

Global Operating Room Equipment Market, by Product Type

Movable Imaging Systems
Biomedical Systems
Endoscopes
Anesthesia Systems
Operating Tables
Operating Room Lights
Surgical Imaging Displays
Operating Room Integration Systems
Surgical Booms
Microscopes

Global Operating Room Equipment Market, by Geography

North America
U.S.
Canada
Europe
Germany
U.K.
Rest of Europe
Asia Pacific
China
India
Rest of Asia Pacific
Rest of the World
Latin America
Middle East & Africa

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