The Global Surgical Booms Industry is poised for steady growth over the next seven years, according to a recent industry analysis. Valued at approximately US$276.0 million in 2022, the market is expected to rise at a moderate Compound Annual Growth Rate (CAGR) of 4.7%, reaching an impressive US$380.2 million by the end of 2029.
Increase in the Adoption of Minimally Invasive Surgeries is Likely to Drive the Growth of the Global Surgical Booms Industry
Minimally Invasive Surgery (MIS) is one of the major trends in medicine. MIS is a safe, feasible, and patient-friendly method of performing medical procedures such as surgery. MIS offers reduced postoperative pain, shorter length of stay in a hospital, lesser scarring or damage to tissues, and generally leads to faster recovery. Hence, MIS is easier and less time-consuming. As clinicians seek safer and more efficient ways to perform surgery, they find new applications for minimally invasive procedures, because the benefits of the same for patients are paramount. Furthermore, the increasing number of insurance providers that offer reimbursement for costs incurred during most minimally invasive procedures is expected to increase the adoption rate of minimally invasive surgeries. The Centers for Medicare and Medicaid Services (CMS) provides reimbursement for peripheral access procedures, such as the insertion of a port or catheter into a large central artery that is directly related to or near the heart. Thus, an increase in the number of minimally invasive surgeries is boosting the demand for equipment management systems such as equipment booms.
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High Capital Investment for Integrated OR to Hinder the Growth of the Global Surgical Booms Industry
Integrated ORs utilise a crossover of medical interventions to form hybrid technologies. The development and integration of ORs requires the re-organization of professionals. In addition, there is a need to upgrade the capital equipment. Cost of such advanced capital equipment is high. Furthermore, compatibility with existing or new devices/infrastructure is likely to present a hurdle for the designers, manufacturers, and end users of surgical booms. A hybrid OR, on an average, requires 50-80% more space as compared to a conventional OR in the U.S., and 30-40% more in Germany. The additional space required is another factor that is likely to increase the cost of the setup of an integrated OR. Thus, the capital cost required for an integrated OR is likely to hinder the growth of the Global Surgical boom industry.
Global Surgical Booms Industry: Segmental Analysis
The Global Surgical Booms Industry has been segmented based on product, installation, and end user. Based on product type, the surgical booms market has been segmented into equipment booms, utility booms, anaesthesia booms, and custom booms. Custom booms lead the market due to the flexibility of choice the customers have from manufacturers. Based on installation, the Global Surgical Booms Industry has been segmented into roof mounting and floor mounting. In terms of revenue, the roof mounting segment is expected to have a major share in the surgical booms market during the forecast period as these are more flexible and conserve space in the OR more effectively. Based on end users, the Global Surgical Booms Industry has been categorized into hospitals, ambulatory surgical centers, specialty clinics, and hybrid operating rooms. The revenue generated by the hospitals segment of the surgical booms market is expected to witness significant growth, which is driven by the presence of a large number of ORs and associated ICU departments at various hospitals.
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Global Surgical Booms Industry: Companies
Some of the key players in the Global Surgical Booms Industry include
- CV Medical LLC.
- Stryker Corporation
- Hill Rom Holdings Inc.
- Amico Group of Companies
- Steris Plc
- Ondal Medical Systems GmbH
- Getinge Group
- Pratibha Medinox
- Skytron LLc
- Palakkad Surgical Industries
- among others.
Global Surgical Booms Industry Taxonomy
By Product
- Equipment Booms
- Utility Booms
- Anesthesia Booms
- Custom Booms
By End User
- Hospitals
- Ambulatory Surgical Centers
- Specialty Clinics
- Hybrid Operating Rooms
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By Installation
- Roof Mounting
- Floor Mounting
Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Afric
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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