(PharmaNewsWire.Com, August 24, 2021 ) The operating room integration market is projected to grow at a CAGR of 12.4% during the forecast period, to reach USD 1.7 billion by 2024 from USD 1.0 billion in 2019. Factors such as the increasing adoption of minimally invasive surgical procedures, redevelopment projects & funding for improving OR infrastructure, and rising need to curtail healthcare costs are driving the growth of the operating room integration market during the forecast period.
Browse 117 market data Tables and 25 Figures spread through 132 Pages and in-depth TOC on "Operating Room/OR Integration Market"
North America to dominate the operating room integration market during the forecast period
In 2018, North America accounted for the largest share of the operating room integration market, followed by Europe. In the US, the operating room integration market is driven by the need to curtail soaring healthcare costs, increasing patient preference for minimally invasive surgeries (owing to their procedural benefits such as lower risk of surgical-site infections, decreased patient injuries, and shorter hospitalization times), rising adoption rate of integrated operating rooms among healthcare providers, and increasing number of ambulatory surgery centers. According to the CMS, in 2016, healthcare spending in the US was estimated at USD 3.4 trillion, and this figure is estimated to reach USD 5.7 trillion by 2026. During 2017–2026, healthcare spending in the US is expected to rise by 5.5% annually.
Key Market Players
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).
Hospitals are the largest end users of the operating room integration market
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.
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