Operating Room Equipment Market

Operating Room Equipment Market Outlook (2022-2032)

The global operating room equipment market is appraised at US$ 37.3 billion and is projected to reach a valuation of US$ 59.5 billion by the end of 2032. Sales of operating room equipment are expected to increase at a CAGR of 4.7% between 2022 and 2032.

North America is anticipated to account for a notable revenue share of more than 35% of the global operating room equipment market by the end of the forecast period, expanding at a higher than global CAGR of 6% through 2032.

Report Attributes	Details
Operating Room Equipment Market Size (2022)	US$ 37.3 Billion
Projected Market Value (2032F)	US$ 59.5 Billion
Global Market Growth Rate (2022-2032)	4.7% CAGR
North America Market Growth Rate (2022-2032)	6% CAGR
Hospitals Segment Share (2032F)	~70%
Key Companies Profiled	Stryker Corporation Siemens Healthcare GmbH Hill-Rom Holdings Inc. SKYTRON Medtronic STERIS plc. Dragerwerk AG & Co. KGaA Getinge AB Creative Health Tech Pvt. Ltd. FUJIFILM Holdings Corporation GE Healthcare Koninklijke Philips N.V. Smiths Medical Mizuho OSI BERCHTOLD Corporation STORZ MEDICAL AG

Operating Room Equipment Sales Analysis (2017-2021) in Comparison to Market Forecasts (2022-2032)

A notable increase in focus on healthcare has been observed across the world over the past few years owing to the rising frequency of infectious disease outbreaks and the emergence of chronic diseases. Investments in healthcare infrastructure development and healthcare spending have also increased and are expected to favor operating room equipment market potential throughout the forecast period.

A growing geriatric population, supportive government initiatives to promote the adoption of advanced operating room instruments, high prevalence of hospital-acquired infections (HAIs), rising focus on patient safety & patient monitoring, and technological advancements in operating room machines are other significant factors that are expected to positively impact operating room equipment shipments through 2032.

High spending on healthcare infrastructure development in emerging economies such as China, India, Indonesia, and Brazil is also expected to be crucial to the global operating room equipment market development throughout the forecast period.

However, the expensive nature of certain advanced operating room machines is expected to obstruct the overall market potential over the next ten years. Worldwide sales of operating room systems are estimated to increase at a CAGR of 4.7% through 2032.

What’s Catalyzing the Demand for Operating Room Equipment?

“Rising Number of Surgical Procedures Performed Worldwide”

The world has witnessed a substantial increase in the incidence of chronic and infectious diseases over the past few years and this has resulted in an increased focus on healthcare and a high rate of hospitalization.

The number of surgeries being performed to treat these diseases has also increased resulting in high demand for operating room equipment. The growing popularity of minimally invasive surgeries and rising patient preference for such surgeries are also expected to favor surgery operating room equipment demand till 2032.

“Technological Advancements & Rising Senescent Population”

The healthcare industry has witnessed a notable increase in technological proliferation owing to digitization and growing use of advanced technologies in medical devices. The aforementioned factor has led to high demand for new and advanced operating room supplies in healthcare establishments. A growing geriatric population, which is more likely to undergo surgeries, is also expected to bolster the demand for general operation theatre instruments through 2032.

A comprehensive assessment of all drivers, restraints, challenges, and opportunities in the operating room equipment industry has been mentioned and discussed in this revised research report by analysts at Fact.MR, a market research and competitive intelligence provider.

Is This Market an Opportune One for New Companies?

“Product Innovation Could Provide Rewarding Opportunities for Start-ups”

Digitization and technological advancements are revolutionizing the healthcare industry and are expected to do so over the next ten years as well. New companies can focus on the development of technologically advanced products to create a space for themselves in the industry.

• Beyeonics, an Israeli start-up is focusing on bringing the heads-up-display technology from military aviation helmets to operating theatres. The company developed its first product, Beyeonics One for ophthalmic surgeons and is expected to focus on the development of new helmets for other surgeries as well.

New market entrants should also focus on raising capital for their ventures to support their business models and advance research capability.

• In March 2022, Activ Surgical, a company focused on developing surgery technology with augmented reality (AR) and artificial intelligence (AI) to reduce surgical errors, raised an additional US$ 15 million for its Series B financing round. The company previously raised US$ 45 million in the same financing round in September 2021.

Many new companies are expected to focus on the use of advanced technologies such as augmented reality (AR), machine learning, predictive analytics, artificial intelligence (AI), etc. to create novel product offerings that could disrupt the operating room equipment marketplace.

Country-wise Insights

What’s Attracting Manufacturers of Operating Room Equipment to the U.S.?

“Developed Healthcare Infrastructure & Rising Prevalence of Chronic Diseases”

The United States is known for its advanced healthcare infrastructure and early adoption of advanced technologies. Rising incidence of chronic diseases, growing prevalence of obesity, increasing aging population, the rising popularity of minimally invasive surgeries, and increased healthcare expenditure are prime factors that head operating room equipment market evolution in the U.S.

The presence of key suppliers of operating room equipment in the country is also expected to favor market potential across the forecast period. Hybrid operating rooms and integrated operation theaters are expected to witness a hike in the establishment in the country owing to their crucial role in improving patient outcomes.

High investments in healthcare research and development in the country along with supportive government funding to advance the development of innovative products are also expected to prominently drive operating room equipment market growth in the United States throughout the forecast period.

Category-wise Insights

Which Type of Surgical Room Equipment is Most Widely Used?

“Patient Monitoring Devices Projected to Propel Overall Operating Room Equipment Demand”

The global operating room equipment market, based on type, is segmented into anesthesia machines, electrosurgical devices, multi-parameter patient monitors, surgical imaging devices, operating tables, operating room lights, surgical navigation systems, and others.

Patient monitoring devices are anticipated to witness a sharp hike in demand across the forecast period and this can be ascribed to a heightened focus on patient safety and demand for continuous monitoring in operation theaters. Multi-parameter patient monitors are projected to be highly popular over the next ten years as demand for devices with the capability of monitoring multiple vital signs increases in healthcare establishments.

Operating tables and operating room lighting systems are also expected to exhibit lucrative growth throughout the forecast period owing to increasing investments in the upgradation of operation theaters.

Why Will Hospitals Continue to Lead Demand for Operating Room Supplies?

“Increasing Investments in Upgradation of OT Room Equipment in Hospitals”

The global operating room equipment market, based on end user, is segmented into hospitals, outpatient facilities, ambulatory surgical centers (ASCs), and others.

Hospitals have witnessed a notable increase in patient intake owing to the high prevalence of chronic diseases and rising focus on healthcare among the general population. Investments in healthcare infrastructure development have noticeably increased across the world and this has led to high demand for advanced operating room instruments in hospitals.

The rising rate of hospitalization and an increasing number of surgeries being performed in hospitals are other factors that could govern the demand for operation theatre machines throughout the forecast period. All of the aforementioned factors contribute to the dominant market share held by the hospitals segment.

This segment is anticipated to account for more than 70% of the global operating room equipment market share by the end of 2032 and is estimated to expand at a CAGR of around 6.5%.

Rising establishment of new outpatient facilities across the world is expected to promulgate the demand for operation theatre equipment outpatient facilities segment through 2032.

Competitive Landscape

Operating room equipment manufacturers are focusing on the integration of advanced technologies such as machine learning and artificial intelligence to create innovative products.

• In May 2022, Zimmer Biomet, a leading medical device company, announced the launch of its new artificial intelligence (AI) capabilities for its Omni Suite intelligent operating room. The suite is designed to optimize operational efficiency and with the new AI features, it can record workflow milestones such as door count, patient entry, anesthesia administration, etc.

Operating Room Equipment Industry Research Segments

• By Type :

  • Anesthesia Machines
  • Electrosurgical Devices
  • Multi-parameter Patient Monitors
  • Surgical Imaging Devices
  • Operating Tables
  • Operating Room Lights
  • Surgical Navigation Systems
  • Others

• By End User :

  • Hospitals
  • Outpatient Facilities
  • Ambulatory Surgical Centers (ASCs)
  • Others

• By Region :

  • North America
  • Latin America
  • Europe
  • APAC
  • MEA