Operating Room Equipment and Supplies Market - Insights
Continuous advancement in surgical procedures has led to increasing demand for more sophisticated and advanced operating room equipment and supplies. Minimally invasive surgery, image-guided procedures, robotic surgery, and telesurgery are replacing the conventional surgical procedures and these require image-guided vascular access technologies and other endoscopic access techniques. Increasing complexity of procedures and patients has resulted in rising demand for monitoring and support systems used in specialized operating rooms. Moreover, depending on the type of surgery, the requirement for surgical equipment differs. For instance, in pediatric surgery room, additional surgical devices such as non-blood contacting biventricular cardiac assist device, umbilical venous catheter, and portable surgical microscope are required. The placement of operating room equipment and supplies also depends on the size of the room, room orientation, supply for medical gases, number of location of electrical and medical gas outlets, access of the room, and location of the room.
The global operating room equipment and supplies market is estimated to be valued at US$ 26, 668 million in 2017 and is expected to witness a CAGR of 7.5% over the forecast period (2017–2025).
Figure 1. Global Operating Room Equipment and Supplies Market Value (US$ Mn), by Region, 2017
Rising number of surgical procedures and interventions is expected to augment growth of the operating room equipment and supplies market over the forecast period
Rising number of surgical procedures across the globe is expected to drive growth of the operating room equipment and supplies market. For instance, in 2015, 1.36 million caesarean procedures were performed in the European countries, which includes over 220 thousand caesarean section procedures in Germany, around 200 thousand in the U.K., and over 170 thousand in Italy. Moreover, according to the German Heart Surgery Report 2016, there were 103,128 heart surgery procedures reported in the German Society for Thoracic and Cardiovascular Surgery (GSTCVS) registry. Around 33,451 isolated heart valve procedures including 11,701 catheter-based procedures with an in-hospital mortality of 4.3% were reported. In addition to this, among the total heart surgery procedures conducted, around 15.7% of the patients were aged 80 years. An increase of 0.9% was observed in the heart surgery procedures performed on patients aged 80 years as compared to that in 2015, according to the same source
With increasing number of surgical interventions, the total expenditure for surgical and non-surgical procedures is also increasing significantly. For instance, according to the American Society for Aesthetic Plastic Surgery (ASAPS): 2016 statistics, people in the U.S. invested over US$ 15 billion on combined surgical and non-surgical procedures, which also shows an increase of US$ 1.5 billion, over the previous year (2015). The surgical procedures accounted for 56% of the total expenditures, while non-surgical procedures accounted for 44% of the expenditure, in 2016.
Increasing investments in product developments is fueling the market in Asia
North America is expected to account for the largest market share in operating room equipment and supplies market over the forecast period. This is owing to increasing investments by hospitals to upgrade operating rooms and equipment, increasing numbers of surgical procedures in the region, and rising prevalence of chronic diseases in the U.S. For instance, According to the National Cancer Institute- 2014 data findings, there were an approximately 3.0 million men living with prostate cancer in the U.S., in 2014. In addition, approximately 11.6% of men will be diagnosed with prostate cancer at some point during their lifetime, based on 2012-2014 data. Furthermore, prostate cancer represents 9.6% of all new cancer cases in the U.S. in 2014.
Furthermore, Asia Pacific is expected to account for the highest growth in the operating room equipment and supplies market. This is attributed to government initiatives to increase deployment of doctors and hospitals in the rural and urban areas in China and India. For instance, in government of China, from 2013 initiated the extensive program to support the rural heath, by employing the healthcare professionals. These healthcare professionals are deployed from medical colleges for the contract basis in rural areas for the tenure of six years. Such reforms by China government helped to reshape the rural healthcare infrastructure. Moreover, manufacturers in the region are focusing on developing advanced products for application in operation rooms for complex surgeries. For instance, in November 2017, SpineGuard and XingRong Medical launched PediGuard product range, in China during the Chinese Orthopedic Association (COA) annual meeting, held in Zhuhai, China. PediGuard is disposable medical device, which is used during spine surgery, to reduce the radiation exposure from fluoroscopy by 30%. In July 2017, Huayi Capital—a China-based healthcare focused investment firm—invested US$ 17 million series A round fund in Symbow Medical, a Beijing-based surgical navigation device developer. The funding helped Symbow Medical to develop four dimensional information tracking system, which displays image of human body along with automatic tracking and calibration during surgical intervention. These increasing investment by operating room equipment manufacturing companies in Asia is further expected to augment growth of operating room equipment supplies market in Asia.
Some of the key players in operating room equipment and supplies market are Drägerwerk AG & Co. KGaA, Fujifilm Holdings Corporation, Getinge AB, GE Healthcare, Hill-Rom Holdings, Inc., KARL STORZ GmbH & Co. KG, Mizuho OSI, Medtronic, plc, Koninklijke Philips N.V., STERIS Corporation, Stryker Corporation, and Siemens AG.
An operating room includes necessary as well as supportive equipment required during surgical interventions such as surgical table and surgical table accessories, digital integration systems, disposables and consumables, sterilization and cleaning equipment, stretchers and stretcher accessories, and surgical or exam lights. Due to the emergence of the advanced diagnostic and imaging technology equipment used in the operating room, and higher adaptation of the these equipment in the operating room causes, operating room to become more congested and complex. However, advancement in surgical equipment has aided in simplifying and streamlining operating rooms. For instance, operating room integration system is designed to access data, videos, and controls for all the devices at a central command station, allowing surgeons to perform various tasks efficiently without the need to move around in operating rooms.
Increasing patient preference for minimally or non-invasive surgeries, owing to reduction in post-operative trauma and complications and reduced hospital stay are factors expected to drive demand for advanced operating room equipment and supplies. The increasing preference for minimally or non-invasive procedures over conventional open surgeries has led to the development of hybrid operating rooms equipped with various complex surgical equipment products ranging from operating room lighting to patient monitoring devices. For instance, according to the American Society of Plastic Surgeons (ASPS): 2016-annual plastic surgery procedural statistics, around 15.9 million surgical and minimally-invasive cosmetic procedures were performed in the U.S. in 2015, with 2% increase over 2014. In addition to this, increasing national healthcare expenditure by various governments is expected to drive growth of the operating room equipment and supplies market. For instance, according to the Centers for Medicare & Medicaid Services (CMS): 2016-Research Statistics Data and Systems, retail spending for non-durable medical products such as medical instruments and surgical dressings increased by 4.4% to US$ 62.2 trillion in the U.S. in 2016. Moreover, hospital care spending accounted for around 32% of the total healthcare spending in the U.S., which exhibited an increase of 4.7% to reach US$ 1.1 trillion in 2016, over the prior year (2015)
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