Surgical Boom Market Expected to Surge
The growing popularity of hybrid operating theaters among health care professionals and patients is powering the growth of the surgical boom market in the United States and worldwide.
The expansion of the market is being pushed by the increased demand for integrated operating rooms, particularly hybrid integrated ORs, according to industry research. Hybrid ORs require almost twice as many surgical booms as traditional integrated ORs creating more demand for these important pieces of equipment.
The global report “Global Surgical Lighting, Surgical Booms and Surgical Tables” released by iData Research reports that the total surgical boom market is expected to reach over $260 million by 2019 in the U.S., Europe and Japan combined.
Japan led the way in the use of boom systems in intensive care units in 2014, but the United States and Europe quickly followed suit and powered the trend to new heights.
“Surgical booms are often an afterthought to facilities as usually the company who installs the lighting systems also installs the booms. However, the demand for booms is heavily increasing in the ICU work space,” according to Dr. Kamran Zamanian, iData Research Senior Partner.
“There is increasing competition amongst manufacturers to design booms that are functional for both ORs and ICUs,” Zamanian adds. “The rising value of the market led many companies to adopt pricing tactics in order to capture a larger share. This increased competition resulted in the top four companies accounting for 80 percent of the total market, with individual market shares being evenly distributed.”
Research and Markets reports that the U.S. market for video, high-tech and integrated ORs, which includes surgical booms, was valued at $1.74 billion in 2012. In 2013, the U.S. market exceeded $1.8 billion.
The report states that the market is expected to exceed $2.3 billion in annual sales by 2018, due to increased OR integration, which will further increase the sales of related equipment. In addition, the increased popularity of minimally invasive surgical procedures is generating more sales of surgical booms and other equipment.
The global hybrid OR market, which includes surgical booms, is expected to grow at a compound annual growth rate of 16.66 percent during 2015-2021, according to a report from OCCAMS Business Research (OCCAMS).
“The primary reasons for this demand are government focus on improving health care facilities, development of large hospitals, demand for sophisticated medical services, among others,” according to OCCAMS.
In the United States, the need to increase operating room efficiency is expected to generate demand for video and high-tech hardware devices (like those used in surgical booms) to be worth $4 billion, according to a summary report from OCCAMS. Similarly, the operating room integration market is expected to grow at an average of 15 percent annually, the report indicated.