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%
NEW YORK, Oct. 23, 2019 /PRNewswire/ --
The operating room integration market is projected to grow at a CAGR of 12.4% during the forecast period (2019–2024).
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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 hospitals 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 hospitals 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, growing prevalence of chronic diseases, and 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.
A breakdown of the primary participants referred to for this report is provided below:
• By Company Type: Tier 1: 21%, Tier 2: 26%, and Tier 3: 53%
• By Designation: C-level: 32%, Director-level: 26%, and Others: 42%
• By Region: North America: 52%, Europe: 26%, Asia Pacific: 8%, Latin America: 9%, and the Middle East & Africa: 5%
The prominent players in the operating room integration market are Stryker Corporation (US), STERIS (US), KARL STORZ (Germany), Olympus (Japan), Getinge (Sweden), Alvo Medical (Poland), Skytron (US), Merivaara (Finland), Brainlab (Germany), TRILUX Medical (Germany), caresyntax (US), Sony (Japan), Barco (Belgium), Arthrex (US), and Richard Wolf (Germany).
Research Coverage:
The report analyzes the operating room integration market and aims at estimating the market size and future growth potential of the market and the different application segments, such as general surgery, orthopedic surgery, cardiovascular surgery, neurosurgery, thoracic surgery, and other applications. The report also includes an in-depth competitive analysis of the key players in this market, along with their company profiles, product offerings, and recent developments.
Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a greater share. Firms purchasing the report could use one, or a combination of the below mentioned five strategies for strengthening their market presence.
This report provides insights on the following pointers:
• Market Penetration: Comprehensive information on the product portfolios offered by the top players in the operating room integration market.
• Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the operating room integration market.
• Market Development: Comprehensive information on lucrative emerging regions.
• Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the global operating room integration market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, revenue analysis, and products of the leading players in the operating room integration market.
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