Integrated Operating Room Market worth $1.7 billion by 2024

According to research report Integrated Operating Room Market the 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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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 integrated operating room market during the forecast period.

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.

North America to dominate the operating room integration market during the forecast period

In 2018, North America accounted for the largest share of the integrated operating room 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.

General surgery segment accounted for the largest share of the operating room integration applications market in 2018

The general surgery segment accounted for the largest share of the integrated operating room market, by application, in 2018. 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.

The software segment accounted for the largest share of the operating room integration market, by component, in 2018

The software segment accounted for the largest share of the integrated operating room market in 2018. 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.

Hospitals are the largest end users of the integrated operating room 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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Prominent players in the integrated operating room 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).

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