August 16, 2017
Wellesley, Mass., Aug 16, 2017 – The growing need for precision and technology innovation, along with the and rising demand for minimally invasive surgeries, are spurring the increased adoption of operating room equipment. A new BCC Research analysis reports that the burgeoning era of hybrid operating rooms has changed the operating room equipment market. Equipped with the latest and most innovative surgical equipment and technology systems, hybrid operating rooms improve the operating room experience of both patient and surgeons. Advancing technology continues to open new avenues for hybrid operating room equipment while expanding the global market for operating room equipment.
The global market should reach $25 billion by 2021, up from $15.4 billion in 2016, with a 10.1% CAGR, according to Operating Room Equipment: Global Markets. The comprehensive report cites several players that are actively engaging in research and innovations to manufacture products that offer integration and compatibility in the operating room. For example, the STERIS OT 1000 Series orthopedic surgical table exemplifies the type of new product that is producing a shift in surgical procedural volume due to technological enhancements like optimum imaging. Other companies such as Barco (diagnostic dual-head color displays), GE Healthcare (imaging technologies), Leica Microsystems (stereo micro- and macroscopes) are focusing on new product development as their key strategy, as well.
The report identifies the U.S. Food and Drug Administration (FDA) regulations as the market's key growth factor. In the U.S., the Affordable Care Act has significantly reduced the price of the products and improving the affordability, accessibility and quality of healthcare. When the Affordable Care Act became law, it reduced the uninsured rates by 43% from 16% in 2010 to 9.1% in 2015.
"Operating rooms are constantly evolving to provide better facilities, and existing growth is expected to continue," says analyst Sathya Durga, who authored the report. "Smaller hospitals are purchasing refurbished equipment to keep up with the latest in technology. The growing demand for the refurbished operating room equipment is a key trend is influencing market growth. The major benefit from buying refurbished operating room equipment is cost effectiveness."
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Operating Room Equipment: Global Markets( IAS095B )
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