The Global Surgical Suite Market size is estimated to be USD 1.14 billion in 2019 and is predicted to reach USD 3.78 billion by 2030 with a CAGR of 11.5% from 2020-2030. Surgical Suite is the sterile space in the hospital where all the surgical procedures takes place and it consists of all the required equipments for the procedures. The surgical suite consists of one or more operation theater with scrub room and recovery room for the patient. Patient has been kept in the recovery room after procedure to ensure the proper recovery which helps in the reduction of complications.
Market Dynamics and Trends
The improving and modernizing healthcare infrastructure with increased prevalence of chronic disorders are expected to drive the market growth. Furthermore, increase in technological advancement coupled with increase in the surgical procedures is expected to fuel the growth surgical suite market over the forecast period.
The other factors include increase in disposable income coupled with increase in favorable reimbursement polices coupled with increasing strategic collaborations are also expected to drive the market growth. However, high cost of the equipments and its maintenance is expected to inhibit the growth of surgical suite market. On the other hand, increase in product launch, innovation and increase in research and development activities are expected to create ample opportunities in the surgical suite market.
Market Segmentations and Scope of the Study:
The global surgical suite market share is analyzed on the basis of device type, application, end user and geography. On the basis of device type, the market is segmented into Audio & Video Management System, Display System, Documentation & Recording System, and Others. Based on application, the market is fragmented into urology, surgery, neurology and others. Based on end user, the market is fragmented into hospitals and clinics. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
North America denotes a higher adoption of the surgical suite and is anticipated hold the highest market share during the forecast period. This is attributable to the factors including presence of well-established healthcare amenities, increase in the surgical procedures with increased prevalence of chronic disorders, and technological advancements.
It is expected that the emerging economies, specifically in the Asia-Pacific region would witness increasing market size owing to increasing accessibility to healthcare facilities in the region, increasing medical tourism, increase in favorable reimbursement policies and strategic collaborations are also expected to promote the growth of surgical suite market.
The surgical suite market, which is highly competitive, consists of various market players. Some of the major market players include KARL STORZ GmbH & Co. KG, Stryker Corporation, STERIS plc, GE Healthcare, Cooper Industries, Getinge AB, Skytron LLC, Merivaara Oy, Image Stream Medical, Inc., Canon Inc., Olympus Corporation and Doricon Medical Systems among others.
In the recent past there have been various developments taken place in the market which is expected to further takes place in near future. For instance, in October 2019, Olympus has announced the development of the “Digital transformation for surgery: advanced information-assisted endoscopic surgery system,” which provides the information that helps to ensure safe and consistent quality of surgery by translating the tacit knowledge of skilled physicians in the endoscopic surgery field into data through AI analysis. This developmental theme was selected as a subsidized project by the Japan Agency for Medical Research and Development (AMED).
- The surgical suite market report provides the quantitative analysis of the current market and estimations through 2020-2030 that assists in identifying the prevailing market opportunities to capitalize on.
- The study comprises a deep dive analysis of the surgical suite market trend including the current and future trends for depicting the prevalent investment pockets in the market.
- The information related to key drivers, restraints and opportunities and their impact on the surgical suite market is provided in the report.
- The competitive analysis of the market players along with their market share in the global surgical suite market.
- The SWOT analysis and Porters Five Forces model is elaborated in the study.
- Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.
KEY MARKET SEGMENTS:
- Global Surgical Suite market – By Device Type
- Audio & Video Management System
- Display System
- Documentation & Recording System
- Global Surgical Suite market – By Application
- Global Surgical Suite market –By End User
- Global Surgical Suite market –By Geography
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of RoW
- North America