Wellesley, MA –BCC Research reveals in its new report, OPERATING ROOM EQUIPMENT: GLOBAL MARKETS, the global market for operating room equipment is expected to reach nearly $21.0 billion by 2019, registering a five-year compound annual growth rate (CAGR) of 9.8% from 2014 to 2019. The Asia market is expected to record highest growth in terms of CAGR with 15%.
There has been a significant transition with respect to technology adoption in modern hospitals. Increasing demand for operational efficiency, need for precision, and technology innovation has led to adoption of automated and sophisticated technologies within operating rooms. Increasing focus on healthcare also means that while quality improves, scrutiny of high costs also makes it important for hospitals to contain their prices. To help achieve a balance and cap the spiraling costs, many hospitals are depending on acquiring used and refurbished surgical equipment.
The global operating room equipment market was valued at $12.2 billion in 2013. This is expected to grow from $13.1 billion in 2014 to $21.0 billion by 2019, registering a CAGR of 9.8% from 2014 to 2019. Europe will grow steadily from $4.0 billion in 2014 to nearly $6.0 billion in 2019. In terms of a five-year CAGR, Asia will record the highest output with 15% followed by rest of the world (ROW) with 11.7%.
“Despite these challenges, operating rooms are constantly evolving to provide better facilities, and existing growth is expected to continue,” says BCC Research analyst Bhavna Joshi. "Constant developments and innovations by companies make improvement in operating rooms a given."
OPERATING ROOM EQUIPMENT: GLOBAL MARKETS identifies and analyzes the market trends, influencers, drivers, restraints and opportunities for each of the markets and estimates the market revenues from 2014 to 2019. It also assesses various strategies adopted by the operating room market to enhance their market positions in terms of product launch, mergers and acquisitions, and joint ventures. Key companies, product portfolios, strategies and recent developments are also included in this report.
For further details, go to http://www.bccresearch.com