Operating Room Equipment Market is projected to expand at a CAGR of 6.4% from 2018 to 2026

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Transparency Market Research (TMR) has published a new report titled ‘Operating room equipment Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.’ According to the report, the global operating room equipment market was valued at US$ 29,912.3 Mn in 2017. It is projected to expand at a CAGR of 6.4% from 2018 to 2026. Aging population and longer life-expectancy, increased awareness, and acceptance of advanced devices are likely to drive the operating room equipment market from 2018 to 2026.

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An operating room, also known as operation theatre, is a facility within a hospital or nursing home where surgical procedures are performed in order to treat different physiological conditions in a sterile environment. Technological advancements have brought a lot of change in the way surgical procedures are carried out. An operating room encompasses equipment such as movable imaging systems, biomedical systems, endoscopes, anesthesia systems, operating tables, operating room lights, surgical imaging displays, operating room integration systems, surgical booms, and microscopes.

Significant advantages associated with operating room equipment and financial incentives by governments of various countries are major factors driving the operating room equipment market globally. Benefits of proper operating room equipment encompasses accurate and up-to-date patient handling, enhanced patient safety, and time and long-term cost savings. These advantages encourage health care providers to equip themselves with technically advanced operating room equipment, which in turn drive the market.

Patient monitoring equipment segment to account for major share

In terms of product type, the patient monitoring equipment segment accounted for a dominant share of the market in 2017. Advancements in patient monitoring systems include heart monitors, breath monitors, body temperature monitors, hematology monitors, multi-sign monitors, fetal and maternal monitors, oximeter, and brain monitors. The movable imaging displays sub-segment led the patient monitoring systems segment of the operating room equipment market in 2017, due to availability of competitively priced mobile C-arms, increasing government initiatives to modernize hospitals, and increased number of surgeries. These factors are expected to drive the segment during the forecast period.

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Various Initiative to Improve Health of Population to Boost Global Population Health Management Market

Several healthcare providers have been dealing with various projects to improve health of the general population. With the use of these system, the patient’s clinical information can be accessed, hence, with the use of these system patients can get the access of clinical record without any stretch. Furthermore, surge in the need to manage the healthcare management is stimulating growth of global population health management market. The growing demand of population health models by the accountable care association are another trend supporting growth of global population health management market in foreseeable future. The increasing implementation of patient protection and affordable act in U.S. and increase in trend of big data are another fueling growth of this market during the course of forecast period.

On the other hand, high cost involved in installation, dearth of awareness regarding the population health management system are some of the key factors negatively impacting growth of the population health management market. Further, absence of population health management in various developing and developed countries and lack of awareness about the tools are another key trends affecting growth of this market.

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