Home Press Releases Operating Room Integration Market worth $3.7 billion by 2028

Operating Room Integration Market worth $3.7 billion by 2028

by Press Room


 


(EMAILWIRE.COM, August 11, 2023 )
Factors such as growing demand for technologically advanced solutions, rising funding initiatives for improving HCIT infrastructure increase in the number of surgical procedures, , rise on emphasis on cost control and improvement in hospitals operations are aiding to the posticve growth of this market. However, interoperability issues the high setup and operational costs, and shortage of skilled surgeons in OR integration are expected to restrain market growth to a certain extent.

The report Operating Room Integation Market is projected to reach USD 3.7 billion by 2028 from USD 2.1 billion in 2023, at a high CAGR of 12.1% during the forecast period

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Operating Room Integration Market Dynamics:

Drivers:

• Rising demand for technologically advanced solutions

• Growing number of surgical procedures worldwide

• Rising funding initiatives for the improvement of HCIT infrastructure

• Increasing emphasis on cost control in hospitals

Restraints:

• High setup & operational costs

Opportunities:

• Growth opportunities in emerging economies

Challenges:

• Shortage of skilled surgeons in integrated operating rooms

• Interoperability issues

Market Segmentation:-

The software segment accounted for the largest share, by component in the operating room integration market in 2022. The large share of OR integration software is attributed to reduced surgical times, improved patient safety and improved coordination between healthcare providers. The software helps in optimizing the workflow within the operating room by automating routine tasks and coordinating activities.

Based on application, the orthopedic surgery segment is expected to register the highest CAGR during the forecast period. Orthopedic surgery aims to attenuate the pain caused by musculoskeletal conditions such as joint arthritis, fractures, torn ligaments, or herniated discs. By addressing the underlying issue, surgery can provide significant pain relief and improve the patient’s quality of life.

Regional Analysis:

North America held the largest share of the operating room integration market in 2022, followed by Europe and Asia Pacific. This region has been at the forefront of implementing advanced technologies and integrated systems within operating room, factors such as increasing need to curtail healthcare costs, rise in inclination towards minimally invasive surgeries, growing adoption rate of integrated operating rooms among healthcare providers, growth in the number of ambulatory surgery centers ,in addition to that significant adoption and advancements in OR integration, with healthcare facilities leveraging integrated systems, audio-visual capabilities, data integration, and collaboration tools to improve surgical processes and patient care have also supported the growth of this market in North America.

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Recent Developments

• In February 2023, KARL STORZ collaborated with Asensu Surgical (US), Through this collaboration, the company developed next-generation equipment and also aimed to sell Asensus’ Intelligent Surgical Unit (ISU) as a standalone device.

• In February 2022, Stryker acquired Vocera Communications (US). This acquisition offers Stryker’s Medical division an innovative portfolio that boosts the company’s Advanced Digital Healthcare services and advance Stryker’s focus on preventing adverse occurrences throughout the continuum of care.

• In December 2022, Olympus Corporation (US) collaborated with Sony Corporation (Japan) for the development of a surgical endoscopy system with surgical visualization features such as 4K, 3D, infrared (IR) imaging, and NBI (Narrow Band Imaging).

• In November 2021, Barco (Belgium) partnered with Getinge (Sweden) in which Getinge will utilize Barco’s Nexxis video-over-IP platform to launch its renewed Tegris operating room integration system.

Top Key Players:

Stryker Corporation (US), STERIS Plc (US), Karl Storz SE & Co. KG (Germany), Olympus Corporation (Japan), and Getinge AB (Sweden) are the major players in this market. These companies are majorly focusing on the strategies such as agreements, collaborations, partnerships, and service launches in order to remain competitive and further increase their share in the market.



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