Operating Room Integration Market - Industry Trends, Opportunities, Market share and Size

(IT-NEWSWIRE.COM, October 13, 2021 ) According to the new market research report "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", published by MarketsandMarkets™, 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.

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The software segment accounted for the larger share of the operating room integration market 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 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.

General surgery segment accounted for the largest share of the operating room integration market, by application, 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 the general surgery segment.

Hospitals are the largest end users of the operating room integration market

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 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 RoW market is expected to grow at the highest CAGR during the forecast period

North America dominated the market in 2018. However, the market in the RoW is expected to grow at 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.

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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).

Stryker dominated the market in 2018. The company offers OR integration solutions through its Endoscopy division. The company offers a full range of operating room products under the brand name-iSuite. Its product portfolio includes ceiling-mounted surgical LED lights and instruments for minimally invasive surgeries. In 2018, Stryker’s Endoscopy division recorded sales growth of 11.7%.

Recent Developments
In April 2019, STERIS, KARL STORZ Endoscopy-America (Germany), and American Medical Depot (US) entered into a contract with Defense Logistics Agency (US) to provide integrated operating room components for military services and federal civilian agencies.
In November 2017, Getinge partnered with Verb Surgical Inc. (US) to develop a next-generation surgical platform—Surgery 4.0, which included robotics, advanced visualization, advanced instrumentation, operating room integration, and connectivity & data analytics/AI.
In April 2017, Stryker opened a new customer experience center in San Jose, California, featuring a high-tech “Operating Room of the Future.”

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Operating Room Integration Market - Industry Trends, Opportunities, Market share and Size