Impact of Covid-19 on Operating Room Equipment Market 2020: Remarking Enormous Growth with Recent Trends | Koninklijke Philips,STERIS plc, Stryker Corporation, etc
: New York, United States, 31-July-2020, (Via WiredRelease), (Reports and Data) – According to the current analysis of Reports and Data, the Operating Room Equipment market was valued at USD 27.16 billion in 2018 and is expected to reach USD 35.96 billion by the year 2026, at a CAGR of 3.6%. The equipment used in the various surgical procedures in the operating rooms present in hospitals and clinics is of crucial importance for patient compliance. The operating rooms equipment market is widely driven by the increasing government funds and rising number of hospitals in various developing regions such as China, India, and others. In regions such as Thailand, the Philippines, Malaysia, and other regions are growing at a faster pace as more hospitals and clinical setups are introduced in the region.
The rising geriatric population, which is considered to be highly prone to various diseases owing to surgical assistance, would also contribute to the market growth. For instance, the World Population Prospects by the United Nations estimate that the global geriatric population is expected to double by 2050, and is expected to be 2.1 billion in 2050 from 962 million in 2017. The risings cases of chronic diseases, roadside accidents, and household mishaps could also drive the market intensely in various regions.
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The COVID-19 impact:
Covid-19’s spread has affected manufacturing and construction activities worldwide. Logistic limitations and reconsiderations of the raw material requirements are becoming a problem for producers. The producers have relied on derived demand as an intermediate commodity to rationalize production. The pandemic’s economic impact on companies and financial markets is also not favorable. Stock market volatility and decreasing global growth are anticipated, which will affect the market. The market has experienced a downturn over the weeks, which may continue over the next few months. The Asia Pacific is the most affected region by this pandemic, with China at the center of the outbreak. Most initiatives in multiple countries have changed to a temporary halt. Development, as well as supply, is put on hold, creating losses for suppliers, dealers and customers alike.
Key participants include
Koninklijke Philips N.V., STERIS plc, Stryker Corporation, Siemens Healthineers, Hill-Rom Holdings, Inc., Medtronic, Inc., Drägerwerk AG & Co. KGaA, Getinge Group, GE Healthcare, and Mizuho OSI.
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For the purpose of this report, Reports and Data have segmented into the global Operating Room Equipment market on the basis of type, propellants, application, and region:
By Type Outlook (Revenue in Million USD; 2016–2026)
Diagnostic Imaging Devices
Multi-parameter Patient Monitors
Surgical Imaging Devices
Operating Room Lights
By End Use Outlook (Revenue in Million USD; 2016–2026)
Ambulatory Surgery Centers (ASCs)
Regional Outlook (Revenue, USD Million; 2017-2027)
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/operating-room-equipment-market
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