Operating Room Equipment Global Market Report 2021: COVID 19 Implications And Growth to 2030

Operating Room Equipment Global Market Report 2021: COVID 19 Implications And Growth to 2030

  • April 2021 •
  • 175 pages •
  • Report ID: 6067852 •
  • Format: PDF
Major players in the operating room equipment market are Steris Plc, Stryker Corporation, Getinge AB, Hill-Rom Holdings, Inc. and Mizuho OSI, Inc.

The global operating room equipment market is expected to grow from $8.04 billion in 2020 to $9.48 billion in 2021 at a compound annual growth rate (CAGR) of 17.9%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $12.17 billion in 2025 at a CAGR of 6.4%.

The operating room equipment market consists of sales of operating room equipment and related services. Operating room equipment is used during surgery and includes surgical beds, operating tables, operating table accessories, operating room lights, operating room integration systems and equipment management systems.

The hybrid operating room is a new trend being observed in the global operating room market.A hybrid operating room is an alternative to conventional operating room equipped with advanced medical imaging systems and devices which support high quality interventional imaging and minimally invasive surgeries.

It has complex environment in which numerous surgeons, nurses, anesthesiologists, and technicians work together.Hybrid operating rooms in healthcare facilities has increased globally.

Since they offer a sterile operating room environment, surgeons can perform surgeries with ease. The ability of these operating rooms to reduce the total healthcare expenditure, enhance patient safety, and minimize the time taken to perform surgeries will lead to its increased popularity in the fields of neurosurgery, cardiology, and orthopedics.

The operating room (OR) equipment market is driven globally by the increase in ambulatory surgical centers (ASCs) across the world. All ASCs require an operating room (OR) to undertake the surgeries; therefore the growing number of ASCs all over the world is a key factor facilitating growth of the market for OR equipment.

In December 2018, Medtronic’s subsidiary, Restorative Therapies Group, acquired Mazor Robotics (Mazor), a pioneer in the field of robotic guidance systems.The acquisition of Mazor strengthens the company’s position as a global leader in enabling technologies for spine surgery.

The company offers a fully-integrated procedural solution for surgical planning, execution and confirmation by combining the company’s spine implants, navigation, and intra-operative imaging technology with Mazor’s robotic-assisted surgery systems. Total consideration for the transaction, net of cash acquired, was $1.6 billion, consisting of $1.3 billion of cash and $246 million of a previously-held equity investment in Mazor.

The high cost associated with the operating room equipment will restrain the operating room equipment market growth.Hospital costs are important to understanding value-based care, and are even more critical when analyzing cost-saving interventions during surgery.

The costs associated with the operating room equipment depends on the country, the surgical procedure and the equipment used for the surgical procedure.The average cost per hospital stay was $11,700, making hospitalization one of the most important types of healthcare utilization.

Higher prices remain documented for stays by patients with an expected payer of Medicare associated with stays with another expected payers ($13,600 for Medicare vs. $9,300-$12,600 for other payers).