High prevalence of chronic diseases, rising number of surgeries, and improving healthcare infrastructure are some key factors expected to drive market revenue growth over the forecast period.
High prevalence of chronic diseases, rising number of surgeries, and improving healthcare infrastructure are some key factors expected to drive market revenue growth over the forecast period
Emergen Research has published its latest report titled, “Operating Room Integration Systems Market By Device Type (Audio Video Management System, Display System, Documentation Management System), By End Use (Hospitals, Ambulatory Surgical Centers), By Application (General Surgery, Orthopedic Surgery, Neurosurgery), and By Region Forecast to 2027”
According to Emergen Research, the global operating room integration systems market size was USD 1,313.6 Million in 2019 and is expected to reach USD 3,104.4 Million in 2027 and register a revenue CAGR of 11.3% during the forecast period, 2020-2027.
Market Dynamics:
Over the recent years, the operating rooms have significantly evolved with innovations in technology and are becoming more complex and congested with operating room devices and monitors. Operating room integration systems are designed to improve procedure guidance during surgeries, reduce the complexity of intricate environments inside the operating rooms, and improve overall clinical workflow. Modern integrated operating rooms are equipped with various surgical equipment and management systems including medical printers, large-scale displays, surgical lights, cameras, microscopes, and operating tables among others.
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Factors such as rise in healthcare spending, increasing prevalence of chronic diseases such as diabetes, cardiovascular diseases, neurological diseases, cancer, rapid advancements in surgical procedures, and high preference for minimally invasive surgical processes are expected to fuel market revenue growth during the forecast period. In addition, increasing awareness about the benefits of operating room integration systems including minimized manpower, higher efficiency, better management of patient records, and less surgical time is expected to create lucrative growth opportunities in developing countries. However, factors such as high initial investments and maintenance costs, lack of skilled healthcare professionals, and limited access to advanced systems and devices due to budget constraints are expected to hamper market growth to a certain extent during the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Audio Video Management System Segment Register Rapid Revenue Growth:
The audio video management segment is expected to register rapid revenue growth between 2020 and 2027. Factors such as improving healthcare infrastructure, rising demand for minimally invasive surgeries, increasing need for advanced audio video management systems for medical audio video streaming from operating rooms, viewing medical images, and promoting medical training, and high adoption of telemedicine are expected to drive revenue growth of the segment.
General Surgery Segment to Account for Largest Revenue Share:
The general surgery segment is expected to account for largest revenue share in the global market over the forecast period owing to increasing prevalence of chronic diseases, and increasing number of hospitals and ambulatory surgical centers with advanced surgical equipment and devices. In addition, other factors such as rising number of surgeries, increasing healthcare spending, and rising adoption of robotic surgeries and telemedicine are expected to fuel revenue growth of the market going ahead.
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North America to Lead in Terms of Revenue Share:
North America is expected to dominate other regional markets in terms of revenue share over the forecast period owing to rising prevalence of chronic diseases, increasing demand for Human Machine Interface (HMI) technology, presence of well-developed healthcare facilities and systems, and skilled healthcare professionals. In addition, growing funds by private and public organizations, increasing healthcare spending, and availability of advanced healthcare products and equipment for surgical procedures are expected to fuel market growth during the forecast period.
Major Companies in the Market Include:
- Koninklijke Philips NV
- Creative Health Tech Pvt. Ltd.
- Universal Robots
- Yaskawa
- KUKA
- Techman Robot
- Precise Automation
- ABB, Rethink Robotics
- Hillrom Services Inc.
Emergen Research has segmented the global operating room integration systems market on the basis of device type, end use, application, and region:
Device Type Outlook (Revenue, USD Million; 2017-2027)
- Audio Video Management System
- Display System
- Documentation Management System
End Use Outlook (Revenue, USD Million; 2017-2027)
- Hospitals
- Ambulatory Surgical Centers (ASCs)
- Others
Application Outlook (Revenue, USD Million; 2017-2027)
- General Surgery
- Orthopedic Surgery
- Neurosurgery
- Others
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Regional Outlook (Revenue, USD Million; 2017–2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- BENELUX
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of MEA
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