Operating Room Integration Market worth $3.7 billion | Stryker Corporation (US), STERIS Plc (US), Karl Storz SE & Co. KG (Germany), Olympus Corporation (Japan), and Getinge AB (Sweden)

Operating Room Integration Market in terms of revenue was estimated to be worth $2.1 billion in 2023 and is poised to reach $3.7 billion by 2028, growing at a CAGR of 12.1% from 2023 to 2028 according to a new report by MarketsandMarkets™. Factors such as growing demand for technologically advanced solutions, rising funding initiatives for improving HCIT infrastructure increase in the number of surgical procedures, , rise on emphasis on cost control and improvement in hospitals operations are aiding to the positive growth of this market. However, interoperability issues the high setup and operational costs, and shortage of skilled surgeons in OR integration are expected to restrain market growth to a certain extent.

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Software segment accounted for the largest share of the operating room integration market, By Technology

The software segment accounted for the largest share, by component in the operating room integration market in 2022. The large share of OR integration software is attributed to reduced surgical times, improved patient safety and improved coordination between healthcare providers. The software helps in optimizing the workflow within the operating room by automating routine tasks and coordinating activities. Additnally it provides centralized control and management of equipment, lighting, video routing, and documentation. This streamlines processes, reduces manual intervention, and enhances overall efficiency. It is designed to be expandable and adaptable to evolving technology and workflow needs. It can integrate with new devices and systems as they are introduced in the operating room, ensuring long-term usability and future-proofing the investment.

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. Orthopedic surgery aims to attenuate the pain caused by musculoskeletal conditions such as joint arthritis, fractures, torn ligaments, or herniated discs. By addressing the underlying issue, surgery can provide significant pain relief and improve the patient's quality of life.Moreoever, advent of technological advancements in robot-assisted orthopedic surgeries, increasing inclination towards minimally invasive surgeries due to benefits in orthopedic applications (such as decreased procedural trauma, faster patient recovery, and decreased hospital stay) are fators driving the growth of this segment.

North America dominated the operating room integration market in 2022

North America held the largest share of the operating room integration market in 2022, followed by Europe and Asia Pacific. This region has been at the forefront of implementing advanced technologies and integrated systems within operating room, factors such as increasing need to curtail healthcare costs, rise in inclination towards minimally invasive surgeries, growing adoption rate of integrated operating rooms among healthcare providers, growth in the number of ambulatory surgery centers ,in addition to that significant adoption and advancements in OR integration, with healthcare facilities leveraging integrated systems, audio-visual capabilities, data integration, and collaboration tools to improve surgical processes and patient care have also supported the growth of this market in North America.

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Key Market Players:

Stryker Corporation (US), STERIS Plc (US), Karl Storz SE & Co. KG (Germany), Olympus Corporation (Japan), and 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 market.

Recent Developments:

In February 2023, KARL STORZ collaborated with Asensu Surgical (US), Through this collaboration, the company developed next-generation equipment and also aimed to sell Asensus' Intelligent Surgical Unit (ISU) as a standalone device.

In February 2022, Stryker acquired Vocera Communications (US). This acquisition offers Stryker's Medical division an innovative portfolio that boosts the company's Advanced Digital Healthcare services and advance Stryker's focus on preventing adverse occurrences throughout the continuum of care.

In December 2022, Olympus Corporation (US) collaborated with Sony Corporation (Japan) for the development of a surgical endoscopy system with surgical visualization features such as 4K, 3D, infrared (IR) imaging, and NBI (Narrow Band Imaging). In November 2021, Barco (Belgium) partnered with Getinge (Sweden) in which Getinge will utilize Barco's Nexxis video-over-IP platform to launch its renewed Tegris operating room integration system.

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