(PharmaNewsWire.Com, March 16, 2018 ) The global operating room equipment market size was valued at USD 26.24 billion in 2016 and is projected to grow with CAGR of 7.2% during the forecast period. The surging volume of surgeries globally and technological innovations in medical devices are some of the driving forces responsible for the growth of the market. Aging of the population is also one of the key factors contributing to growth.
Operating room is a facility where all the operations are performed on patients in order to treat different pathological and physiological conditions in a sterile environment, operating rooms are also known as the operating suite or operation theatre. An operating room is prepared with technically advanced equipment that offers enhanced operational efficiency by enabling surgeons and other healthcare professionals with greater flexibility and ease of handling.
Furthermore, rising investments for the upgradation of hospitals, development of new operating rooms, and an increase in the number of new hospitals & ambulatory surgery centers are expected to propel growth in future. In 2016, KIMS hospital in Kent, UK, opened its fifth operating theater to cope up with growing demand for orthopedic surgeries and invested GBP 250,000 in new technologies for its newly opened operating room. In 2016, the Wanda Group, a Chinese conglomerate, decided to invest CNY15 billion for the development of hospitals across the country. The investment is intended for building three hospitals in Chengdu, Qingdao, and Shanghai. Under this initiative, Wanda Group has partnered with UK-based International Hospitals Group (IHG) that would be managing the new hospitals constructed.
Improving healthcare infrastructure in emerging economies, rising interest of foreign hospital chains in expanding their networks in these economies, and growing collaborations between hospitals & foreign investors are anticipated to drive the market. In 2015, the Brazilian government enacted a new amendment that allows foreign investments in healthcare companies, hospitals, and specialized clinics.
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