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Operating Room Integration Market Predicted to Reach USD 7.2 Billion by 2032, Reveals TMR Study

Wednesday, 14 June 2023 11:33 AM

WILMINGTON, DE / ACCESSWIRE / June 14, 2023 / The global operating room integration market is projected to expand at a CAGR of 13.9% from 2022 to 2032 to reach nearly USD 7.2 Bn by 2032.

The healthcare industry is rapidly recognizing the benefits of implementation of technologies and systems of integrated operating rooms. Key benefits to integration of operating room (OR) include optimization & planning of surgery procedures, handling of unexpected events during surgery, and ensuring utmost safety during the surgery as per the checklist. For instance, healthcare professionals are benefitting from integration of OR in endoscopic and laparoscopic procedures.

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Recent market trends indicate rise in usage of integrated operating rooms to support advanced control of surgical devices during the surgery, real-time communication between clinicians using video conferencing, and ultra-high-definition visualization of patient's diagnostic and medical reports. Significant demand for modular operating theatre system to improve the efficiency is an instance.

Key Findings

  • Significant Utilization of Documentation Management System: Based on device type, the documentation management system is expected to expand at a CAGR of 13.1% from 2022 to 2032. Pressing need for an integrated platform for the management of all patients' records is likely to bolster adoption of document management system by healthcare providers. Improvements in patient data management system are expected to boost the capabilities of document management systems. Surgeons and other healthcare professionals get an easy access of a unified record of any patients by using the system.
  • Rise in Demand for Software to Improve Operating Room Efficiency: Recent trends indicate surge in utilization of software in operating room integration has created significant opportunities to companies in the market in the past few years. The software component segment is anticipated to grow at a CAGR of 15.2% from 2022 to 2032. Need for regular software enhancements and updates is likely to fuel the segment. However, lack of IT standards pertaining to interoperability of data and paucity of clinical expertise to manage the workflows of integrated OR are factors likely to hamper the segment in the near future. Hospitals also encounter financial and technical constraints while implementing integrated operating rooms, which has further impeded the adoption of integrated operating rooms.

Key Drivers

  • Rapidly growing demand for minimally invasive surgeries is a key driver of the operating room integration market. For instance, surge in number of orthopedic surgeries in the elderly is likely to drive the demand for operating room integration. Surgeons seek state-of-the preoperative navigation guides for complicated surgeries to improve outcomes. For instance, utilization of Prophecy Resect-Through guides (by Stryker) for total ankle procedures is likely to gain traction among surgeons.
  • Significant demand for robot-assisted surgeries and consistent advancements in telemedicine are anticipated to drive demand for operating room integration. Increase in complexity of operating room systems and technologies is broadening market outlook.
  • Focus of global healthcare agencies, such as the WHO, on patient safety in the operating room is likely to bolster demand for implementing integrated operating rooms in hospitals.

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Regional Growth Dynamics

Asia Pacific offers significant opportunities to companies around the globe. Rise in demand for operating room integration in the region can be ascribed to rapid advancements in medical and health systems in developing and developed countries in the past few years. A burgeoning medical tourism across the region is likely to augment market size in the next few years.

South Korea and Japan are projected to witness steady revenue growth. The TMR study projects the market in Japan to expand at a CAGR of 15.3% from 2022 to 2032 to reach US$ 298 Mn. The market in South Korea is anticipated to reach US$ 148 Mn by 2032, and is estimated to witness absolute dollar opportunity of US$ 297 Mn during 2022-2032. Rise in adoption of robot-assisted surgeries in South Korea is likely to propel market development in the country.

The U.S. is a lucrative market for operating room integration services and software. The market is projected to expand at a CAGR of 13.6% from 2022 to 2032. Growing number of minimally invasive surgeries in the country is anticipated to drive demand for operating room integration. Rapid pace of adoption of robotics in operating theatres and significant adoption of electronic health records (EHR) are factors expected to augment market growth in the next few years.

Competition Landscape

Leading players are unveiling new tools and technologies used in operating room integration to sustain competition in the global market.

Key companies operating in the operating room integration market are Stryker Corporation, Steris PLC, Olympus Corporation, Getinge AB, BRAIN Lab AG, Merivaara Corp, Skytron LLC, Doricon Medical Systems, and Canon Medical Systems Corporation.

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Operating Room Integration Market Segmentation

By Component

  • Software
  • Services

By Device Type

  • Audio Video Management System Forceps
  • Display System
  • Documentation Management System

Application

  • Orthopedic Surgery
  • General Surgery
  • Neuro Surgery
  • Other Applications

End-use

  • Hospitals
  • Ambulatory Surgical Centers

Region

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East & Africa

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

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Transparency Market Research Inc.
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SOURCE: Transparency Market Research Inc.

Topic:
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