According to the report, the global operating room equipment market accounted for USD 25.75 Billion in 2016 and is expected to reach USD 38.86 Billion by 2022, growing at a CAGR of around 7.1% between 2017 and 2022.

Sarasota, FL -- (SBWire) -- 06/25/2018 --An operating room is a facility within a hospital where surgical operations are carried out in a sterile environment. It is also known as operating theater, operating suite or operation suite. These rooms are equipped with the devices, instruments, and accessories such as operating tables, electrosurgical devices, surgical imaging devices and patient monitors and etc. required for the surgical procedures. Increasing number of surgical procedures due to the increasing chronic diseases drives the growth of operating room equipment market. For example; as per the International Cardiovascular Disease Statistic; it's been projected that by 2020, chronic diseases will account for almost three-fourths of all deaths. 71% of deaths due to ischemic heart disease, 75 percent due to stroke and 70% due to diabetes will occur in developing countries, 60 percent of the burden of chronic diseases will occur in developing countries and cardiovascular disease is now more numerous in India and China than in all economically developed countries in the world added together.

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Development of better healthcare infrastructure, the introduction of advanced technology for surgical procedures and increasing healthcare expenditure are major driving factors for the growth in this market in coming five years. In addition, increasing chronic diseases, increasing preference for minimally invasive procedures and easy to access are expected to foster the growth in this market. Furthermore, increasing geriatric population and increasing number of hospitals with a large number of facilities are also supplementing the market growth. However, high cost associated with latest technology devices hampering this market. In spite of these barriers, innovation of some new technology in this field and emerging markets can be an opportunity in this market.

Operating room equipment market is segmented on the basis of product, end-user, and region. On the basis of product, global operating equipment market can be categorized into; anesthesia devices, endoscopes, operating room lights, operating tables, electrosurgical devices, surgical imaging devices and patient monitors. This segment was dominated by anesthesia devices by accounting for the largest share in this market in 2016 owing to its utilization in almost all types of surgeries. Anesthesia provides the ability to eliminate pain during surgery hence the advanced surgery is possible due to the safe and effective Anesthesia. During surgery, it helps to control the patient's breathing, blood pressure, blood flow, and heart rate and rhythm. Increasing number of surgical procedures is one of the major drivers for anesthesia devices. For example, according to U.S. Department of Health and Human Services, in 2025, the national supply of surgeons is projected to fall short of demand by 20,340 full-time equivalents, with nine of the ten surgical specialties analyzed predicted to have national-level physician shortages.

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On the basis of end-user, the operating room equipment market is segmented into hospitals, outpatient facilities, and ambulatory surgical centers. Hospitals have accounted for the more than 70% market share of this segment in 2016 owing to the high expenditure in the up gradation of operation theaters in the hospitals to generate the high revenue. In addition, increasing investments in healthcare infrastructure & use of advanced technologies are also expected to fuel the growth.

On the bases of the region, the global market for operating room equipment is categorized into; North America, Europe, Asia Pacific, Latin America and the Middle East and Africa with its further bifurcation into major countries including China, Japan, India, U.S. Germany, France, UK, and Brazil. In 2016, North America dominated the market by accounting for the more than 35.9% share of this market owing to the increasing incidences of chronic diseases and increasing geriatric population in this region. For example, U.S. Census Bureau, 2013, in North America, population aged 65 and over is projected to reach 20.7% by 2030 and 21.4% by 2050 of the total world population. In addition, high investment on research and development in this field is also anticipated to propel the growth of this market in this region within the forecast period. Europe is expected to capture the second largest of this market within the forecast period owing to focusing on rapid technological innovations.

Asia Pacific is expected to witness the fastest growth with the highest CAGR in the coming five years. Major driving factors in this region are increasing medical expenditure and raising awareness about minimally invasive surgeries. In addition, increasing geriatric population with increasing prevalence of chronic diseases is also expected to fuel the growth in this market in this region within the forecast period.

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Furthermore, improving healthcare infrastructure, affordability of treatment and emergence of new medical tourism destinations are also anticipated to propel the growth of this market in this region in coming five years.

Latin America and Middle East & Africa are expected to show a healthy market growth for operating room equipment within the forecast period. Especially in Brazil due to the high growth rate in the over-60 population over the next 15 years and increasing prevalence of chronic diseases.

Some of the key players in operating room equipment market such as Stryker Corporation, STERIS Corporation, GE Healthcare, Getinge Group, Hill-Rom Holdings, Inc., Drägerwerk AG & Co. KGaA, Mizuho OSI, Philips Healthcare, Medtronic, Inc. and KARL STORZ GmbH & Co. KG among others.

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