Surgical Boom Market Size & Share, by Product Type (Equipment Boom, Utility Boom, Anesthesia Boom, Custom Boom); Installation (Roof Mounting, Floor Mounting); End-user (Medical Hospital, Ambulatory Surgical Center) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 3296
  • Published Date: Mar 16, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2035

Surgical Boom Market size is estimated to reach USD 400 million by the end of 2035, growing at a CAGR of 4% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of surgical boom was over USD 270 million. The major factor projected for market growth in the forecast period is the rising number of surgeries being performed over the world as a result of rising cases of diseases, illnesses, and disorders across the globe. Statistics revealed by the National Library of Medicine stated that approximately 310 million major surgeries are performed each year worldwide. Out of these, around 40 to 50 million surgeries are performed in the United States and around 20 million in the European region. As surgical booms are extensively used in surgical procedures, the increasing number of surgeries is anticipated to fuel the growth of the global surgical boom market in the forecast period.

The demand for surgical booms has intensified in recent years to improve the operating room settings, reduce the wiring requirement, and enhance overall safety during surgical procedures. This factor is anticipated to bring lucrative growth opportunities for market growth in the upcoming years. Furthermore, the increasing development of integrated and hybrid operating rooms in hospital settings with advanced medical equipment along with the need for digital devices for enhancing the patient’s experience are other factors that are projected to create favorable opportunities for market expansion in the assessment period. In addition to the aforementioned factors, the rising awareness about the surgical boom which includes the ability to adapt to different configurations depending on space requirements, function, and purpose along with the availability of support services for helping the operating staff is also anticipated to drive market growth. Also, the rising preference for minimally invasive procedures and the adoption of advanced medical devices such as surgical arms which requires the assistance of surgical booms is estimated to create a positive outlook for market expansion. 


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Surgical Boom Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~4%

Base Year Market Size (2022)

~ USD 270 Million

Forecast Year Market Size (2035)

~ USD 400 Million

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Surgical Boom Sector: Growth Drivers and Challenges

Market-Growth-Drivers

Growth Drivers

  • Growing Cases of Chronic Diseases Around the World – Centers for Disease Control and Prevention (CDC) states that six in ten Americans today are diagnosed with at least one chronic disease such as cancer, stroke, and diabetes. The rising cases of chronic diseases require specific treatment and surgeries that are focused on curing the illness from its roots. Such critical surgeries require advanced medical devices such as surgical boom for proper conduction of procedure and help the medical professional for prospering critical operations. Thus, the rising cases of chronic diseases are anticipated to bring in lucrative growth opportunities for the global surgical boom market expansion in the forecast period.

  • Rising Prevalence of Non-Communicable Illnesses among the Global Population – The report published by the World Health Organization (WHO) in 2022 stated that non-communicable diseases are responsible for taking almost 41 million lives every year around the world which is equivalent to 74% of all deaths. The non-communicable diseases are fatal to human life and cause death if not treated effectively. Thus, a large number of surgeries are performed each year for diagnosing and treatment process of these non-communicable diseases which requires advanced surgical booms for proper conduction of the treatment process. Hence, with the increase in non-communicable diseases, it is anticipated to bring favorable opportunities for market expansion in the analysis period.

  • Escalation in the Cases of Cardiovascular Diseases -According to the World Health Organization, estimation, 17.9 million deaths worldwide in 2019 were attributable to CVDs, or 32% of all fatalities. Heart attack and stroke deaths accounted for 85% of these fatalities. The treatment of cardiovascular diseases requires advanced medical products such as surgical booms. Hence, the rapidly growing cases of cardiovascular diseases around the world are a positive indicator of market growth in the next few years.

  • High Amount of Investment in Developing the Healthcare Sector – Major key players in the market and governments are focusing on developing novel medical products that aid doctors and the medical staff present in the operation theatre during surgical procedures. This factor is henceforth projected to bring lucrative growth opportunities for market growth in the upcoming years. For instance, investment in medical and health research and development (R&D) in the United States (U.S.) increased by 11% to around USD 245 billion in 2020 from previous years.

  • Recent Surge of Investments in the Medical Devices Industry – As the number of diseases is creating a global burden, governments are focusing more on manufacturing technologically developed medical products such as surgical booms for the proper treatment of diseases and disorders. The data revealed by the India Brand Equity Foundation (IBEF) stated that in FY20, the foreign investments in the Indian medical devices sector increased to USD 301 million from USD 151 million in FY19, which indicates a 98% increment.

Challenges

  • High Costs Associated with Surgical Booms – Surgical booms are technologically developed medical equipment that is integrated with advanced features for performing complex functions. As a result, the cost of surgical booms is very high. This factor is anticipated to lower the adoption rate among the population with middle and low income. This factor is anticipated to subsequently hamper market growth during the forecast period.
  • Rising Risks of Malfunctioning Surgical Booms
  • Low Level of Awareness Among the Population


Surgical Boom Segmentation

Product Type (Equipment Boom, Utility Boom, Anesthesia Boom, Custom Boom)

The global surgical boom market is segmented and analyzed for demand and supply by product type into equipment boom, utility boom, anesthesia boom, and custom boom. Out of these, the anesthesia boom segment is attributed to garner a significant share of 38% in the market by the end of 2035. The major factor that is aiding segment growth is the growing awareness level of anesthesia boom among the population and medical staff about medical device connectivity which also includes surgical booms. Anesthesia booms save space, foster an organized work environment and enhance the efficiency level of the operating room and allow flexibility of patient positioning to suit the surgeons. Moreover, the anesthesia booms are efficient in creating space in an organized way by keeping cables, equipment, and medical gas lines above the floor. Also, the anesthesia boom has been developed with advanced features and tools to make it more efficient for performing in better conditions is anticipated to bring favorable opportunities for segment expansion in the assessment period. Also, the rising demand for anesthesia devices is estimated to create a favorable scenario for segment growth.

End-user (Medical Hospital, Ambulatory Surgical Center)

The global surgical boom market is also segmented and analyzed for demand and supply by end-user in medical hospitals, ambulatory surgical centers, and others. Out of these segments, the medical hospital segment is projected to hold a notable share of 26% with a steady CAGR growth. The growth of the segment can be attributed to the fact that a relatively larger number of individuals choose hospital facilities for treatment as a result of the presence of a greater number of operating rooms and associated intensive care units. Furthermore, the increasing number of hospitals in the world and the presence of trained professionals in hospital settings for using surgical booms correctly are other factors that are estimated to drive segment growth during the forecast period. For instance, there were over 8,000 hospitals in Japan as of 2020. Korea, by contrast, had about 4,000 hospitals. In addition, there were more than 6,000 hospitals in the United States.

Our in-depth analysis of the global market includes the following segments:

       By Product Type

  • Equipment Boom
  • Utility Boom
  • Anesthesia Boom
  • Custom Boom

        By Installation

  • Roof Mounting
  • Floor Mounting

         By End User

  • Medical Hospital
  • Ambulatory Surgical Center
  • Others

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Surgical Boom Industry - Regional Synopsis

North American Market Forecast

The North American surgical boom market, amongst the market in all the other regions, is projected to hold the largest market share of about ~35% by the end of 2035. The growth of the market can be attributed majorly to the increasing frequency of diseases being diagnosed with various diseases and disorders and the high number of surgeries being done every year. Recent statistics are being calculated that almost 15 million Americans undergo some type of surgery every year. Further, the existence of an effective healthcare network in the region, along with the availability of supportive policies by government bodies, supports the promotion of using surgical booms for easy operation and surgery over a large target population, which is expected to contribute to market growth in the region. In addition, the region's expanding healthcare industry and rising commercialization of medical products are also estimated to boost market growth during the forecast period.

APAC Market Statistics

The Asia Pacific surgical boom market, amongst the market in all the other regions, is projected to hold the second largest share of about ~24% during the forecast period. The major factor that is projected to bring lucrative opportunities for market expansion is the burgeoning geriatric who are prone is diseases, illnesses, and accidents that require surgeries. Furthermore, the presence of major key players in the region along with their rising investments in the research and development activities to manufacture technologically developed surgical booms is anticipated to create a positive outlook for market expansion. Also, the expanding patient pool of the region which requires complex surgeries is another factor of market growth in the region during the forecast period.

Europe Market Forecast

Further, the market in the European region, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The factors that are expected to contribute positively to market expansion in the region are rising research and development activities along with the proven success in the development of surgical booms as an efficient treatment method. Furthermore, the rising adoption of surgical treatments and the region's growing geriatric population, as well as the increasing number of various types of surgeries performed each year in the region, are expected to be beneficial opportunities for market expansion during the forecast period. As per the Eurostat statistics of the European Region, around 4.3 million cataract surgeries were performed in the European Union member states, making it the most common surgical procedure in 2018.

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Companies Dominating the Surgical Boom Landscape

top-features-companies
    • Stryker Corporation
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • SKYTRON, LLC
    • CV Medical
    • Amico Group of Companies
    • STERIS
    • Hill-Rom Services, Inc.
    • General Electric Company
    • Ondal Medical Systems 

In-the-news

In The News

  • Stryker Corporation started a national partnership with Minor League Basketball. This partnership allowed Stryker to become “The Official SmartRobotics Joint Replacement Partner” of Minor League Basketball.

  • SKYTRON, LLC launched a new surgical boom called “The Freedom Boom”, which is expected to upgrade the surgical boom technology of the company owing to its enhanced features such as movement sensors, five arms, and increased arm lengths.


Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 3296
  • Published Date: Mar 16, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The growing need for integration of surgical boom in operating rooms and the rapid rise in the number of surgeries performed globally are the key factors driving the market growth.

The market is anticipated to attain a CAGR of 4% over the forecast period, i.e., 2023-2035.

High initial investment expenditure related to the surgical boom coupled with rising risks of operations and less level of awareness about the benefits among the population are estimated to be the growth hindering factors for the market expansion.

The market in the North America region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are Stryker Corporation, SKYTRON, LLC, CV Medical, Amico Group of Companies, STERIS, Hill-Rom Services, Inc., General Electric Company, Ondal Medical Systems, and other key players.

The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by product type, installation, end-user, and by region.

The medical hospital segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Surgical Boom Market Report Scope
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