The Business Research Company’s Operating Room Equipment Market Report: Covid 19 Implications And Growth – By Type, By End-Users | Global Forecast To 2030
LONDON, GREATER LONDON, UK, May 20, 2020 /EINPresswire.com/ — The COVID-19 pandemic has increased the demand for operating room equipment. In particular, the respiratory devices, masks, and patient monitoring devices markets have seen a surge in demand due to the novel coronavirus. Respiratory devices including ventilators, anesthesia gas masks, and other devices are required to support the treatment of patients diagnosed with COVID-19. Due to the continued spread of the virus, hospitals are facing a shortage of these devices. For instance, in Europe, which is one of the most affected regions, hospitals have overflowed with patients encountering respiratory failures. With the number of cases across the globe increasing daily, the demand for respiratory devices to treat COVID-19 patients is on the rise. Healthcare and non-healthcare equipment manufacturers have ramped up production of ventilators and other respiratory devices. For instance, GE Healthcare, one of the leading players in the medical technology and equipment market, is continually adding production lines, increasing their labor force, and multiplying output to aid hospitals and healthcare professionals with the needed equipment to treat patients diagnosed with COVID-19. Ford, a leading automobile manufacturer, has also expanded its support to GE and 3M to increase the production of the equipment required during this outbreak.
The global operating room equipment market reached a value of nearly $27,937 million in 2019, having grown at a compound annual growth rate (CAGR) of 3.98% since 2015, and is expected to grow at a CAGR of 3.95% to nearly $32,626 million by 2023. Further, the market is expected to grow to $35,197 million in 2025 at a CAGR of 3.87%, and to $42,660 million in 2030 at a CAGR of 3.92%.
The rising spread of COVID-19 pandemic created a demand for respiratory devices including ventilators, sanitizers, masks, scrub suits, and other devices. Patients diagnosed with Covid-19 have a chance of severe lower respiratory tract infection, which means patients are required ventilator support. For instance, around 12% of COVID-19 patients in China have been put on a ventilator. In 2019, 77,000 new ventilators were enough to meet the global market demand whereas, in April 2020, New York City alone required 30,000 additional ventilators to combat COVID-19. As more and more people are getting infected with coronavirus, it is expected to increase the demand for critical care equipment.
The increasing aged population is encouraging operating room equipment manufacturers to introduce new innovative equipment to serve the older population in a better way in the operating room. Different types of smart medical devices for the elderly population are introduced in the market such as the smart operating table. In the US, the population of aging people represents 16% of the overall US population but accounts for 40% of overall patients who are undergoing surgeries in hospitals, and more than half of all surgical procedures.
Here Is A List Of Similar Reports By The Business Research Company:
Anesthesia And Respiratory Devices Market By Type Of Product (Respiratory Devices And Equipment, Anesthesia Machines, Anesthesia Disposables, And Respiratory Disposables) Drivers And Restraints – Global Forecast To 2022 (https://www.thebusinessresearchcompany.com/report/anesthesia-and-respiratory-devices-market)
Masks (N95 Respirators And Other Surgical Masks) Global Market Report 2020-30: COVID 19 Implications And Growth (https://www.thebusinessresearchcompany.com/report/masks-n95-respirators-and-other-surgical-masks-market-global-report-2020-2030-covid-19-implications-and-growth)
Patient Monitoring Devices Market By Types (Fetal And Neonatal Monitoring Devices, Vital Parameter Monitoring Devices, Weight Monitoring Devices, Body Temperature Devices, And Remote Patient Monitoring Devices), By End User (Hospitals, Homecare, Diagnostic Centre/Clinics), By Companies And By Regions – Global Forecast Research To 2022 (https://www.thebusinessresearchcompany.com/report/patient-monitoring-devices-market)
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Source: EIN Presswire