PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1424976
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1424976
Operating Room Market size was valued at USD 2,073 Million in 2023, expanding at a CAGR of 11.5% from 2024 to 2032.
The operating room (OR) serves as a secure and sterile environment where surgical procedures are carried out. Its primary purpose is to minimize the risk of infection during the surgical process. Additionally, operating rooms are well-lit to ensure optimal visibility for surgeons and are equipped with air-conditioning systems to further reduce the chances of infection. Each operating room is specifically designed to cater to the unique requirements of the hospital or the population it serves. There are three main types of operating rooms: digital, hybrid, and integrated. Digital operating rooms are centered around centralized data systems that integrate imaging, software, and video data. These advanced operating rooms facilitate the sharing, transfer, and collection of medical data, which can be utilized during or after the surgery to evaluate outcomes and develop appropriate care plans. Hybrid operating rooms combine surgical equipment with medical imaging devices, allowing for minimally invasive procedures without the need to relocate the patient to a separate imaging room. The operating room (OR) provides a secure environment for surgeons to perform surgical procedures with utmost safety.
Operating Room Market- Market Dynamics
The market is expected to experience growth due to a higher demand for surgical procedures
Patients are choosing to undergo elective procedures such as cosmetic surgeries, orthopedic surgeries, and other non-emergency interventions, which is further increasing the need for operating room facilities. From January 1, 2019, to January 30, 2021, a total of 13,108,567 surgical procedures were identified based on 3,498 Current Procedural Terminology (CPT) codes. Additionally, the International Society of Aesthetic Plastic Surgery (ISAPS) recently released the results of its annual Global Survey on Aesthetic/Cosmetic Procedures, revealing a 19.3% overall increase in procedures performed by plastic surgeons in 2021. This includes over 12.8 million surgical procedures and 17.5 million non-surgical procedures conducted worldwide. The prevalence of these conditions is rising globally, contributing to the overall demand for surgical procedures.
Operating Room Market- Key Insights
As per the analysis shared by our research analyst, the global Operating Room market is estimated to grow annually at a CAGR of around 11.5% over the forecast period (2024-2032)
Based on Component segmentation, Software was predicted to show maximum market share in the year 2023
Based on application segmentation, General Surgery was the leading type in 2023
Based on End-User segmentation, hospitals was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Operating Room Market is segmented on the basis of Component, Application, End-User, and Region.
The market is divided into two categories based on Component: software and services. The market is largely dominated by the Software Segment. The integration of various devices, ensuring data interoperability, and enhancing overall workflow are all crucial roles played by operating room software.
The market is divided into four categories based on application: General Surgery, Orthopedic Surgery, Neurosurgery and Others. General Surgery holds a significant share in the market. It encompasses a wide array of procedures, and the operating room market offers specialized equipment, devices, and solutions to cater to the unique requirements of general surgical procedures.
The market is divided into three categories based on End-User: Hospitals, Ambulatory Surgical Centers (ASCs) and others. The market is primarily dominated by the hospitals segment. The global operating room market is intricately linked with hospitals, as it offers the essential equipment, technology, and software solutions required to facilitate a diverse array of surgical procedures within these healthcare facilities.
Operating Room Market- Geographical Insights
Geographically, this market spans across North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further segmented based on the countries involved in business activities. The market growth is expected to be dominated by North America, primarily the United States, due to the significant investments in research and development (R&D) made by companies operating in the medical, healthcare, and government sectors. The United States, in particular, places a strong emphasis on R&D in the healthcare industry, leading to the development of advanced medical technologies, equipment, and infrastructure, including state-of-the-art operating rooms. Consequently, this can result in a high adoption rate of advanced operating room solutions. In 2019, the U.S. research and experimental development (R&D) performance reached USD 667 billion, and it is estimated to have reached USD 708 billion in 2020, with significant increases observed across all sectors, particularly the business sector. During the forecast period, Europe is expected to drive the market growth, primarily due to the rise in minimally invasive surgery techniques.
The operating room market is characterized by a dynamic competitive landscape, with numerous companies offering a diverse range of products and solutions to cater to the varying needs of surgical procedures. Key players in this market include medical device manufacturers, technology companies, and healthcare solution providers. These companies heavily invest in research and development to introduce innovative products that cater to the evolving requirements of operating rooms. This includes advancements in imaging technology, surgical instruments, and patient monitoring solutions. For instance, Stryker, a leading competitor in the US market for video and integrated OR equipment, has gained a significant advantage due to its early entry into the integration business. As a result, they have established the largest installed base in the market, with over 10,000 integrated ORs in the US alone. Stryker demonstrates strong sales in various segments, such as OR integration components, surgical camera systems, digital image capture and recording devices, surgical display and PACS monitors, surgical light sources, surgical lighting, and surgical booms.
In April 2023, leading provider of solutions to promote surgical innovation, Baxter International Inc., debuted many new surgical portfolio additions at the Association of periOperative Registered Nurses (AORN) Global Surgical Conference & Expo 2023, which is scheduled to take place from April 1-April 4, 2023. The new Baxter Patient Warming system, the Helux Pro Connected Surgical Light, and the Floseal + Recothrom flowable hemostat are just a few of the technologies that are being showcased at Baxter's AORN booth #2027.
GLOBAL OPERATING ROOM MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Barco, Brainlab AG
Dragerwerk AG & Co. KGaA
Getinge AB
Karl Storz SE & Co. KG
Merivaara Corp.
Olympus Corporation
Skytron LLC
Steris Corporation
Stryker Corporation
Others