Operating Room Equipment Market Expected to Reach $27.4 Billion by 2030

According to a new report published by Allied Market Research, titled, “Operating Room Equipment Market," The operating room equipment market was valued at $16.4 billion in 2020, and is estimated to reach $27.4 billion by 2030, growing at a CAGR of 5.3% from 2021 to 2030.

Operating room (OR) in medical settings refers to a facility wherein different surgical procedures are performed for the treatment of diverse pathological and physiological conditions in a sterile environment. OR comprises technically efficient and easy-to-use equipment for routine interventions.  ORs equipped with precise instruments and equipment ensure better patient care and enhanced operational efficiency. OR equipment in operating room equipment market analysis refer to an array of different capital-intensive instruments and systems that holistically aid in executing surgical interventions. Some of these equipment include anesthesia devices, electrosurgical units, surgical imaging devices, multiparameter patient monitoring devices, and surgical navigation systems and driving the operating room equipment market growth.

The major driving factors of operating room equipment share include increase in number of surgical procedures throughout the world and implementation of regulatory approvals for OR equipment in operating room equipment market size. Furthermore, rise in patient preference for minimally invasive surgeries is expected to supplement the market growth. However, high costs of OR equipment and patient safety concerns in the operating room are expected to impede the market growth. On the contrary, untapped potential of emerging markets and technological advancements with respect to OR equipment are protected to provide lucrative opportunities to the market players.

On the basis of product type, the market is categorized into anesthesia machines, electrosurgical devices, multi-parameter patient monitors, surgical imaging devices, operating tables, operating room lights, and surgical navigation systems. The electrosurgical devices segment is expected to dominate the market throughout the forecast period, owing to increase in number of surgical procedures. However, the surgical imaging devices segment is expected to register a CAGR of 4.9% during the operating room equipment market forecast period, owing to their sheer usage and availability in surgical settings.

Depending on end user, the ambulatory surgical centers segment dominated the market in 2020. This segment is expected to exhibit a prominent growth rate, owing due to these centers enable a safe, cost-effective, and patient-friendly environment for the endowment of medical services such as colonoscopy, colorectal cancer screening, and others for patients of all age groups.

Region wise in operating room equipment industry, North America accounted for more than 5.2% of the global operating room equipment market share in 2020, and is expected to remain dominant throughout the forecast period. This was attributed to technological advancements operating room equipment industry, increase in availability of ORE in this region, and availability of affordable medical treatments for several disease conditions. Asia-Pacific is projected to register the highest CAGR of 6.1% during the forecast period, owing to increase in treatment success rates and the affordable price range with respect to surgical procedures.

KEY FINDINGS OF THE STUDY

• By product, the electrosurgical devices segment was the highest contributor to the market in 2020.
• On the basis of end user, the ambulatory surgical centers segment dominated the market in 2020, and is expected to continue this trend during the forecast period. 
• Region wise, North America garnered the largest revenue share in 2020, however, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.