New York, Sept. 16, 2020 (GLOBE NEWSWIRE) -- announces the release of the report "Operating Room Equipment Global Market Report 2020-30: Covid 19 Implications and Growth" -
9 billion in 2019 to $10.8 billion in 2020 at a compound annual growth rate (CAGR) of 35.8%. The growth is mainly due to the COVID-19 outbreak and the surge in demand for hospitals supplies including personal protective equipment, surgical supplies, sterilization equipment, disinfectants and hospital beds, among others. With the increasing number of cases, hospitals are flooded with COVID-19 positive patients. In order to meet demand and address the supply shortage concerns, most of the hospitals have also suspended the non-urgent medical procedures. The market is then expected to grow at a CAGR of 3.8% from 2021 and reach $11.7 billion in 2023.

The operating room equipment market consists of sales of operating room equipment and related services. Operating room equipment is used during surgery and includes surgical beds, operating tables, operating table accessories, operating room lights, operating room integration systems and equipment management systems.

The operating room equipment market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. The North American market is the largest market for operating room equipment and is expected to continue to be the largest market during the forecast period.

In December 2018, Medtronic’s subsidiary, Restorative Therapies Group, acquired Mazor Robotics (Mazor), a pioneer in the field of robotic guidance systems. The acquisition of Mazor strengthens the company’s position as a global leader in enabling technologies for spine surgery. The company offers a fully-integrated procedural solution for surgical planning, execution and confirmation by combining the company’s spine implants, navigation, and intra-operative imaging technology with Mazor’s robotic-assisted surgery systems. Total consideration for the transaction, net of cash acquired, was $1.6 billion, consisting of $1.3 billion of cash and $246 million of a previously-held equity investment in Mazor.

The high cost associated with the operating room equipment will restrain the operating room equipment market growth. Hospital costs are important to understanding value-based care, and are even more critical when analyzing cost-saving interventions during surgery. The costs associated with the operating room equipment depends on the country, the surgical procedure and the equipment used for the surgical procedure. In a 2011 study, it was observed that on an average, hospital stays in the US that involve an OR procedure have been reported to be 2.5 times more costly than stays that do not involve an OR procedure.

The hybrid operating room is a new trend being observed in the global operating room market. A hybrid operating room is an alternative to conventional operating room equipped with advanced medical imaging systems and devices which support high quality interventional imaging and minimally invasive surgeries. It has complex environment in which numerous surgeons, nurses, anesthesiologists, and technicians work together. Hybrid operating rooms in healthcare facilities has increased globally. Since they offer a sterile operating room environment, surgeons can perform surgeries with ease. The ability of these operating rooms to reduce the total healthcare expenditure, enhance patient safety, and minimize the time taken to perform surgeries will lead to its increased popularity in the fields of neurosurgery, cardiology, and orthopedics.

The operating room (OR) equipment market is driven globally by the increase in ambulatory surgical centers (ASCs) across the world. All ASCs require an operating room (OR) to undertake the surgeries; therefore the growing number of ASCs all over the world is a key factor facilitating growth of the market for OR equipment.

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