ALBANY, New York, July 16, 2020
- The operating room equipment market is expecting to glide smoothly across 2018-2026 on back of factors such as growing incidences of chronic diseases and frequent technological advancements
- The global market is speculated to expand at a CAGR of 6.4% and is estimated to reach a valuation of US$ 51,858 mn by 2026
ALBANY, New York, July 16, 2020 /PRNewswire/ -- Impressive demand for extensive operational abilities across the healthcare sector may serve as a prominent growth generator for the operating room equipment market across 2018-2026. Hybrid operating rooms may serve as a growth accelerator for the operating room equipment market during the forecast period. A hybrid operating room consists of advanced equipment and offers enhanced convenience to healthcare professionals for performing complex surgeries. The increasing investment in the healthcare infrastructure is also an important component for the growth of the operating room equipment market.
The global operating room equipment market is expected to expand at a CAGR of 6.4% across the forecast period of 2018-2026 according to the scrutinized diagnosis by the analysts of Transparency Market Research (TMR). The global operating room equipment market was valued at US$ 29,912.3 mn in 2017 and is construed to reach US$ 51,858.7 mn by 2026.
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The addition of advanced technologies like the Internet of Things (IoT) and Artificial Intelligence (AI) to operating room equipment is attracting considerable attention from the stakeholders in the healthcare sector. The growing need for advanced healthcare infrastructure in remote areas may extend the growth possibilities of the operating room equipment market.
Operating Room Equipment Market: Pivotal Findings
Explore 216 pages of in-depth research, incisive insights, and detailed country-level projections. Analyze and discover the latest developments in the Operating Room Equipment Market (Product Type - Anesthesia and Respiratory Devices (Anesthesia Systems, Patient Warmers, Ventilators), Patient Monitoring (Surgical Imaging Displays, Movable Imaging Displays, Vital Signs Monitoring Devices), Surgical Equipment (Electrical Surgical Units, Handheld Surgical Instruments, Operating Tables, Operating Room Lights, Surgical Booms), Others (Microscopes, Endoscopes, Operating Room Integration Systems); End user - Hospitals, Ambulatory Surgical Centers) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026 at https://www.transparencymarketresearch.com/report-toc/1674
Operating Room Equipment Market: Promising Growth Avenues
Technological advancements are proving to be an important component for the growth of the operating room equipment market.
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How are Government Initiatives Strengthening Operating Room Equipment Market?
Government support is at an all-time high for improving the healthcare infrastructure across their respective countries. The governments of various countries are trying to spin a strong web of healthcare facilities across remote and rural regions. Countries like India in Asia Pacific are assuring good growth for the operating room equipment market through healthcare infrastructure boosting initiatives like National Rural Health Mission and National Rural Urban Mission. Robust healthcare policies provided by the government to its citizens are also playing a larger role in increasing the reach of healthcare to the last person in the country. This aspect may serve as a great growth multiplier for the operating room equipment market.
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The global operating room equipment market has been segmented as follows:
By Product Type
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Hybrid Operating Room Market: Hybrid Operating Room Market's opportunity is anticipated to reach US$661.8 mn by 2017. It is further expected to proliferate at a CAGR of 4.60% between 2017 and 2022, increasing to US$828.1 bn by the end of 2022. The global market for hybrid operating rooms is gaining tremendously from the significant rise in technological advancements, especially in emerging economies.
Respiratory Devices Market: Respiratory Devices Market is anticipated to growth at a moderate CAGR of 6.5% between 2018 and 2026 (forecast period). In the year 2017, the respiratory devices market stood at a value of US $ 17 billion. If the market scales at predicted CAGR, then the market size is projected to grow equivalent to US$ 31.0 Bn by the end of 2026.
Patient Monitoring and Ultrasound Devices Display Market: The global market for patient monitoring and ultrasound devices display is anticipated to expand at a revenue CAGR of 5.1% during the forecast period from 2017 – 2025. The global patient monitoring and ultrasound devices display market is expected to reach US$ 4,605.4 Mn by 2025. Rise in demand for advanced diagnostic technology with high contrast and best resolution display is expected to boost the market.
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