PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1100679
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1100679
The global operating room integration market is projected to reach USD 1,960.3 million in 2021, expanding at a CAGR of 12.9% during the forecast period.
A surgery center, often known as an operating room (OR), is a hospital facility where surgical operations are done. As modern diagnostic and imaging technology for the operating room (OR) continues to evolve, operating rooms are becoming increasingly crowded and complicated, with a plethora of OR gadgets and monitors.
Increasing demand for technologically sophisticated applications, an increase in the number of surgical operations, congestion in operating rooms (OR), patient safety concerns in OR, and an increase in desire for minimally invasive surgeries (MIS) are important drivers driving market expansion. Surgical suites are rapidly developing. Advanced medical technology and minimally invasive techniques have changed both surgical operations and the surgical setting. Continuous change, better comfort, and the requirement for enhanced productivity necessitate highly competent and flexible surgical sites. As a result, surgical displays are continually being improved. Market participants are also always attempting to improve products and meet demand. For example, EMBITRON s.r.o. will debut new 4K surgical displays in 27-inch and 32-inch screen sizes in July 2022. This increased the company's offerings.
Longer peak load periods in hospitals frequently result in an exponentially growing surgical queue of semi-urgent and non-urgent procedures. The COVID-19 resulted in lengthy wait periods for patients awaiting surgery. According to research published in the British Journal of Surgery, COVID-19 caused 28 million procedures to be postponed or canceled globally in 2020, with millions of surgeries being delayed into 2022. As a result, with thousands of patients facing surgery delays, the need to improve scheduling economies has grown increasingly pressing.
Operating Room/OR Integration Market is segmented on the basis of component, device type, application type, and region.
Because of the numerous benefits connected with its use, the software segment led the industry, capturing more than 50% share as of 2021. These integrated software solutions provide continuous communication across the many devices used in the operating room to optimize surgical operations and assure simplicity of use and effectiveness. Furthermore, organizations are establishing their position in the operating room integration market by using ambitious strategies to increase their portfolio in the operating room integration domain.
Due to its diverse applications in ORs, the document management systems category accounted for the greatest revenue share of more than 36.0 percent in the market for operating room integration in 2022. This system assists in the management of all records from multiple sources and puts them on a unified platform to assist surgeons with patients' histories and other pertinent information during surgery. With the addition of surgical lighting, operating tables, and surgical displays, operating rooms are becoming increasingly complicated and crowded. Individual gadgets are organized in simple ORs, which are pulled or pushed back depending to their need, while wires and cables are dispersed across the space.
In 2022, the general surgery category dominated the market for operating room integration, accounting for more than 35.0 percent of total revenue. The growing number of hospitals implementing MIS technology, along with an increase in chronic conditions needing surgical treatments, is propelling market expansion. In the United States, for example, MIS technology is used in almost half of all operations. The increasing number of surgical procedures with a high number of MIS being performed due to its numerous advantages such as decreased hospital stay, less painful characteristics, and a strong focus on patient safety in OR are driving demand.
With a huge number of businesses working in this area, the industry is fragmented. To grow their revenue share and mark their position in the market, the leading players are working on implementing new tactics such as regional expansion, mergers and acquisitions, and enhancing their application portfolio through innovation, collaborations, and distribution agreements. For example, in April 2022, Barco announced NexxisLive, telementoring, surgical teleconferencing, and teleassistance solution as a secure cloud-based platform for ORs.
While, in April 2022, the American Board of Surgery selected caresyntax's digital surgery platform as part of a pilot initiative to boost surgeon certifications using video-based assessments.
The scope of this report covers the market by its major segments, which include as follows: