(PharmaNewsWire.Com, March 07, 2023 ) "Operating Room Integration Market by Component (Hardware, Software, Service), Application (General, Orthopedic, & Cardiovascular Surgery), Device (Audio & Video Management, Display, Document Management), End User (Hospital, ASC) - Global Forecast to 2027", published by MarketsandMarkets™, the global Operating Room Integration Market is projected to reach USD USD 3.3 billion by 2027 from an estimated USD 1.9 billion in 2022, at a CAGR of 12.1% during the forecast period.
The study categorizes the operating room integration market based on product, type, technology, application, animal type, end user at regional and global level.
By Component o Introduction o Software o Services
By Device Type o Introduction o Display systems o Document Management systems o Audio & Video Management systems
o Other OR Integration devices By Application o Introduction o General Surgery o Orthopedic Surgery o Cardiovascular Surgery o Neurosurgery o Thoracic Surgery o Other Applications
By End User o Introduction o Hospitals o Ambulatory Surgical Centers and Clinics
By Region • North America o US o Canada • Europe o UK o Germany o France o Italy o Spain o Rest Of Europe • Asia Pacific o Japan o China o India o Rest of APAC • Latin America o Brazil o Mexico o Rest of LATAM • Middle East & Africa
The Growth in this OR Integration Market is driven by the growing demand for technologically advanced solutions, the growing number of surgical procedures, rising funding initiatives for improving HCIT infrastructure, and increasing emphasis on cost control and efficiency improvement in hospitals. However, the high setup and operational costs, interoperability issues, and shortage of skilled surgeons in OR integration are expected to restrain market growth to a certain extent.
By component, the software segment accounted for the largest share of the operating room integration market in 2021.
The software segment is estimated to have the largest share by value of the operating room integration market. OR integration software helps streamline surgical workflows by enabling seamless communication between different systems and 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.
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. Factors responsible for the growth of this segment are recent technological advancements in robot-assisted orthopedic surgeries, rising preference for minimally invasive surgeries due to benefits in orthopedic applications (such as decreased procedural trauma, faster patient recovery, and decreased hospital stay).
North America dominated the operating room integration market in 2021.
North America accounted for the largest share of the OR Integration market in 2021, followed by Europe and Asia Pacific. The large share of North America in the global market can be attributed to the rising need to curtail healthcare costs, increasing patient preference for minimally invasive surgeries (owing to procedural benefits such as the lower risk of surgical-site infections, decreased patient injuries, and shorter hospitalization times), growing adoption rate of integrated operating rooms among healthcare providers, and the increasing number of ambulatory surgery centers.
Stryker Corporation (US), STERIS Plc (US), Karl Storz SE & Co. KG (Germany), Olympus Corporation (Japan), 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 Operating Room/OR Integration Market.
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