Operating Room/OR Integration Markets: General Surgery, Orthopedic Surgery, Cardiovascular Surgery, Neurosurgery, Thoracic Surgery - Global Forecast to 2024
DUBLIN, Nov. 7, 2019 /PRNewswire/ -- The "Operating Room/OR Integration Market by Component (Software, Services), Application (General Surgery, Orthopedic Surgery, Cardiovascular Surgery, Neurosurgery, Thoracic Surgery), End-User (Hospitals, ASC), Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The Operating Room Integration Market is Projected to Reach USD 1.7 Billion by 2024 from USD 1.0 Billion in 2019, at a CAGR of 12.4%.
The growth in this market is driven by the increasing adoption of minimally invasive surgical procedures, redevelopment projects & funding for improving OR infrastructure, and rising need to curtail healthcare costs. In addition, emerging economies (such as China, India, Brazil, and Mexico) are expected to offer lucrative growth opportunities for market players in the market. However, the dearth of skilled surgeons for OR management is adversely impacting the growth of the market.
The software segment accounted for the larger share of the operating room integration market, by component, in 2018
On the basis of component, the market is segmented into software and services. In 2018, the software segment accounted for the larger share of the operating room integration market. OR integration software helps streamline surgical workflows by enabling seamless communication between different systems as well as ensuring the effective and easier operation of these systems, preferably from a single source. Moreover, operating room integration software helps reduce surgical times, improves coordination between healthcare providers, and improves patient safety.
By application, the general surgery segment accounted for the largest market share in 2018
On the basis of application, the market is segmented into general surgery, orthopedic surgery, cardiovascular surgery, neurosurgery, thoracic surgery, and other applications (gynecological, urological, ophthalmic, dental, ENT, and pediatric surgeries). In 2018, the general surgery segment accounted for the largest share of the operating room integration market. Factors such as the increasing incidence of breast cancer, colorectal cancer, liver cancer, GI disorders, and endocrine disorders as well as the rising number of general surgical procedures performed worldwide are driving the growth of this segment.
By end-user, the hospital's segment accounted for the largest market share in 2018
On the basis of end-user, the market is segmented into hospitals and ambulatory surgery centers & clinics. In 2018, the hospital's segment accounted for the largest share of the operating room integration market. The large share of this segment can be attributed to the rising patient emphasis on timely and effective disease management, rising number of diagnostic and surgical procedures carried out at hospitals and the increasing number of hospitals being set up in developing countries.
The market in the RoW is expected to witness the highest growth during the forecast period.
The operating room integration market in the RoW is expected to witness the highest CAGR during the forecast period. This can be attributed to the procedural benefits of integrated ORs, the growing prevalence of chronic diseases, and the rising adoption of advanced surgical treatment methodologies in the region.
Other factors augmenting market growth in this region are the ongoing expansion of the healthcare infrastructure as well as growing market availability of advanced surgical technologies in Brazil and other Latin American countries, ongoing initiatives of governments to enhance their respective healthcare systems, and growing public-private investments for purchasing medical equipment.
Company Profiles
- Alvo Medical
- Arthrex, Inc.
- Barco
- Brainlab AG
- Caresyntax
- Getinge AB
- Karl Storz Se & Co. Kg
- Merivaara Corporation
- Olympus Corporation
- Richard Wolf GmbH
- Skytron
- SONY Corporation
- Steris PLC
- Stryker Corporation
- Trilux Medical GmbH & Co. KG (A Subsidiary of Mizuho OSI)
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