To use this feature, join Babbler easily !
Babbler allows PR people and reporters to collaborate a better way.
By joining Babbler you will be able to access hundreds of newsrooms and PR contacts from your industrie(s) and also share with them your upcoming needs.
Their newsrooms are already on Babbler
You're 1 click away from signing up
Nice to see you again !
Operating Room Integration Systems Market Forecasts and Growth Opportunity till 2031
minutes reading time
minute reading time
The global operating room (OR) integration systems market is a huge market understood of various product types used in an operating room. These include products for visualization, lighting, imaging, OR integration software, and other products such as insufflators, medical printing devices, and OR communication and control systems.
While conventional ORs possessed all the equipment required for an operating room to function, the lack of communication among the various components is one of the major drawbacks that led to the rising interest in implementing integrated operating rooms. Integrated ORs consist of a centralized console that integrates all the components of an OR, such as imaging, visualization, and visualization systems, among others.
The global operating room integration systems market report highlights that the market was valued at $11,763.6 million in 2021 and is expected to reach $21,546.1 million by the end of 2031. The market is expected to grow at a CAGR of 6.28% during the forecast period from 2022 to 2031.
Impact of COVID-19 on the Global Operating Room Integration Systems Market
The COVID-19 pandemic led to a decline in the number of non-essential surgeries performed, which subsequently also impacted the usage of various devices used in operating rooms such as those intended for visualization, display, and imaging, among others. Since operating rooms are a major source of revenue for hospitals, hospitals faced significant losses in revenues owing to the deferral of surgeries. Therefore, as the pandemic led to a surge in demand for critical respiratory equipment and other supplies required for the management of COVID-19, there was a decline in hospital procurement of OR integration products.
Global Operating Room Integration Systems Market Drivers
The market is driven by factors such as increased adoption of minimally invasive procedures, rising geriatric population escalating surgical needs, increasing demand to streamline surgical workflow, the shift of TAVI procedures to the integrated environment, and increasing patients' safety concerns in the OR.
There has been a paradigm shift in patient preference from invasive to minimally invasive modes of treatment. A minimally invasive surgery requires a proper arrangement in the operating room, including sophisticated technologies and devices such as communication systems, visualization systems, surgical lights, and surgical camera systems, among others. The operating room integration market caters to the needs of minimally invasive procedures. Therefore, due to the increased adoption of minimally invasive procedures, there has been a boost in the growth of the OR integration market.
Global Operating Room Integration Systems Market Challenges
The factors restraining market growth include the huge capital investment required for integration of the OR. The most significant challenge that medical facilities face is the decision on procurement which is directly related to the cost of integrated OR systems. Technically, the highest degree of integration is required by facilities that perform complex surgical procedures such as cardio and neurosurgery. However, this level of integration can cost an organization from $3-4 million. Therefore, the lack of affordability is a major factor restraining the growth of the market in emerging economies such as Latin America and the Middle East, and Africa. Moreover, the lack of skilled healthcare professionals for OR management in these regions further restrains the market growth.
Furthermore, the challenges associated with retrofitting existing ORS to hybrid OR and the overwhelming number of technologies involved in the complete integration of an operating room acts as restraining factors for the market.
Global Operating Room Integration Systems Market Opportunities
The opportunity for growth of the global operating room integration systems market lies in integrating 4k and 8K technologies in the operating rooms. 4K technology offers significant advantages over traditional HD technology concerning higher resolution and reduced operating times.
Furthermore, the integration of software solutions within the OR is another opportunity for the growth of the market. For instance, the incorporation of artificial intelligence (AI) algorithms such as machine learning and deep learning hold immense potential to transform the way operating rooms function.
Global Operating Room Integration Systems Market Segmentation
Key Market Players and Competition Synopsis
Some of the key players operating in the market include Arthrex Inc., CONMED Corporation, Doricon, Dragerwerk AG Co. KGaA, Fisher Paykel Healthcare Corporation Limited, Getinge AB, Hill-Rom Holdings (Trumpf Medical), Integra Life Sciences Holdings Corporation, KARL STORZ Se Co. KG, Olympus Corporation, Richard Wolf GmbH, Skytron, LLC, STERIS plc, Canon Inc., Koninklijke Philips NV, General Electric Company, and Siemens Healthineers AG.
In the past few years, the global operating room integration systems market has witnessed several strategic and technological developments undertaken by the different market players to attain their respective market shares in this emerging domain. Some of the strategies covered in this segment are funding activities, mergers and acquisitions (MA), partnerships, alliances, business expansions, regulatory and legal activities, and new offerings. The preferred strategy for companies has been regulatory and legal activities followed by partnerships and business expansions
Key Questions Answered in the Global Operating Room Integration Systems Market Report
• What are the major market drivers, challenges, and opportunities in the global operating room (OR) integration market?
• What are the emerging trends within the global OR integration systems market?
• How is each segment of the global OR integration market expected to grow during the forecast period, and what is the anticipated revenue generated by each of the segments by the end of 2031?
• What are the significant developmental strategies implemented by the major players in order to sustain in the competitive market? What are the key regulatory bodies controlling the entry of OR integration products to the market?
• What are the major OR equipment primarily being integrated with an operating room environment? What is the primary role of different visualization systems in an OR setting?
• Who are the leading players with significant offerings to the global OR integration systems market? What is the current market dominance for each of these leading players?
• What is the expected compound annual growth rate (CAGR) expected to be witnessed by the leading players in the market during the forecast period 2022-2031? Which integration systems are anticipated to have the most promising growth?
• What are the major country-wise trends pertaining to the adoption of hybrid, integrated, and digital ORs in the global OR integration market?
• Who are the key manufacturers in the global OR integration systems market, and what are their contributions?
• What is the growth potential of the global OR integration systems market in North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World?
• What are the end user perceptions in the global OR integration systems market?
• What is the patent filing trend in the global OR integration systems market?
• What is the financial analysis and cost considerations in setting up an integrated hybrid operating room in comparison to a conventional OR?
• What is the global OR integration systems market segmentation by application?
Request Sample- https://bisresearch.com/requestsample?id=1274type=download
How This Report Can Add Value
Assuming that the reader is a developer of OR integration components and software, they will be able to do the following:
• Understand their position as compared to some of the key players in the market
• Stay updated with novel technology integration, features, and the latest developments in the market
• Understand the impact of COVID-19 on the adoption of integrated OR and the entry barriers as a result of it
• Gain insights into which regions to target globally based on factors such as the amount of technology integration in operating rooms
• Gain insights into the end-user perception concerning the adoption of operating room integration
• Identify some of the key players in the market and understand their valuable contribution
BIS Related Studies
Congratulations, you're registered on Babbler!
Discover now all the news waiting for you on Babbler: visit your newsfeed.!
Your topics have been selected, you can change it by clicking here