LONDON, May 9, 2016 /PRNewswire/ -- The operating room equipment & supplies market is projected to reach USD 29.15 billion by 2020 from USD 24.31 billion in 2015, at a CAGR of 3.7% in the next five years (2015 to 2020).
Operating rooms around the globe are rapidly transforming from conventional to hybrid state-of-the-art operation theatres. These facilities use advanced equipment and supplies that enable surgeons to perform procedures with higher precision and ease. The increasing preference and demand for minimally invasive procedures across the globe have also transformed surgical procedures. In addition, the rise in aging population and the rising prevalence of cardiovascular diseases is driving the growth of the operating room equipment & supplies market.
Growing investments, funds, and grants by government bodies worldwide and rising number of hospitals, growing number of regulatory approvals for operating room equipment, and increasing number of surgeries globally are some of the factors that are expected to drive the growth of the global operating room equipment & supplies market in the coming years.
On the other hand, factors like high cost of operating room equipment and unfavorable healthcare reforms in the U.S. are likely to restrain the operating room equipment & supplies market to some extent. Moreover, the lack of trained professionals is posing as a major challenge for the market.
In 2015, the anesthesia machines segment is expected to account for the largest share of the operating room equipment market, by type, while the surgical instruments segment is expected to account for the largest share of operating room supplies market, by type.
In 2015, North America is expected to account for the largest share of the global operating room equipment & supplies market, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). North America's large share is attributed to the investments by hospitals to upgrade operating rooms; rising number of surgical procedures; increasing number of ambulatory surgery centers; and increasing prevalence of cardiovascular disease in the U.S. In Canada, market growth is mainly driven by rising public and private investments, implementation of a new funding model for Canadian hospitals, and conferences on operating room equipment and supplies. In the coming years, the operating room equipment & supplies market is expected to witness the highest growth rate in the Asian region, with emphasis on India, China, and Japan. The high growth in India and China can be attributed to the growing number of hospitals, increasing number of German-Asian partnerships, government initiatives to increase the number of doctors in China, presence of global and local players in China, Japan's growing healthcare industry, and government funding in India, favorable healthcare system and conferences in Australia, increasing medical tourism, and rising government investments in the Philippines.
The market witnesses high competitive intensity, as there are several big and many small firms with similar product offerings. These companies adopt various strategies (agreements, partnerships, collaborations, geographic expansion, new product launches, and acquisitions) to increase their market shares and establish a strong foothold in the global market.
Reasons to Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn helps the firms to garner a greater market share. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the models and services offered by top players in the mice model market. The report analyzes the operating room equipment & supplies market, by product, type, and end user.
- Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the operating room equipment & supplies market
- Market Development: Comprehensive information about the lucrative emerging markets. The report analyzes the markets for operating room equipment & supplies across regions
- Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the operating room equipment & supplies market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and distribution networks of the leading players in the operating room equipment & supplies market
Download the full report: https://www.reportbuyer.com/product/3605439/
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/operating-room-equipment--supplies-market-by-equipment-by-supplies--by-end-user---analysis--global-forecast-to-2020-300265357.html