(PharmaNewsWire.Com, July 15, 2024 ) The report "Operating Room Integration Market by Component (Software, Services), Application (General, Orthopedic, Cardiovascular & Neurosurgery), Device (Audio & Video Systems, Display, Document Management), End User (Hospital, ASC) & Region - Global Forecast to 2028", 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
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.
Software segment accounted for the largest share of the operating room integration market, By Technology
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. Additnally it provides centralized control and management of equipment, lighting, video routing, and documentation. This streamlines processes, reduces manual intervention, and enhances overall efficiency. It is designed to be expandable and adaptable to evolving technology and workflow needs. It can integrate with new devices and systems as they are introduced in the operating room, ensuring long-term usability and future-proofing the investment.
The orthopedic surgery segment is expected to witness the highest growth rate in the operating room integration market, by application
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.Moreoever, advent of technological advancements in robot-assisted orthopedic surgeries, increasing inclination towards minimally invasive surgeries due to benefits in orthopedic applications (such as decreased procedural trauma, faster patient recovery, and decreased hospital stay) are fators driving the growth of this segment.
North America dominated the operating room integration market in 2022
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.
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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