- Technologically Superior Products to Support Growth in this Mature, Replacement Market
LONDON, May 31, 2012 /PRNewswire/ -- The European operating room solutions market, comprising surgical lights, surgical tables and pendants, is primarily a replacement market. Although tightening budgets are hindering market prospects, the need for state-of-the-art operating rooms are creating lucrative growth opportunities.
New analysis from Frost & Sullivan (http://www.patientmonitoring.frost.com), European Operating Room Solutions Markets, finds that markets earned revenues of $148.2 million in 2010 and estimates this to reach $192.9 million in 2017. The research covers surgical lights, surgical tables and pendants.
"The rising number of surgical procedures is creating an urgent demand for technologically advanced operating room equipment," notes Frost & Sullivan Research Analyst Akanksha Joshi. "The need to ensure enhanced hygiene, infection control and safety is also fuelling market growth."
Operating rooms are the revenue generating space for hospitals. As a result, hospitals are seeking state-of-the-art operating theatres that will support optimised performance and efficiency.
Safety concerns are at an all time high, with infection control emerging as a major issue in operating rooms. The rising awareness about the need to minimise human errors and promote the effective management of operating rooms is pushing the uptake of innovative and advanced operating room solutions.
In healthcare facilities, the final decision about equipment purchase rests with the administrative department, principally the purchase manager. Typically, due to budget constraints, purchase managers delay the acquisition of hospital equipment with long replacement cycles. Consequently, manufacturers face a tough challenge in making administrative departments understand the value for money that their products offer.
"As hospitals in Western Europe are already well equipped, the demand for operating room equipment derives largely from new hospitals," says Joshi. "But, with cuts in healthcare spending, the demand for new equipment tends to occur where replacement is required. This trend is hampering market expansion."
Manufacturers should offer advanced versions of operating room solutions as a package. This is likely to meet end-user needs, even while increasing profit margins.
"It is important for manufacturers to provide innovative, accurate and reliable patient- friendly devices," concludes Joshi. "This would encourage medical facilities to replace their existing equipment."
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European Operating Room Solutions Markets is part of the Patient Monitoring Growth Partnership Services programme, which also includes research in the following markets: Western and Eastern Europe Multiparameter Patient Monitors Market, European Cardiac Patient Monitoring Outlook and European Markets for Continuous Glucose Monitoring. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
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European Operating Room Solutions Markets
Corporate Communications – Europe
SOURCE Frost & Sullivan