Press release
Operating Room Integration Market Is Booming at a CAGR of 11.4% by 2027
The global operating room integration market size was valued at $1.77 Billion in 2019, which is projected to reach $4.19 Billion by 2027, growing at a CAGR of 11.4% from 2020 to 2027.
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The remote and ease of control for video output, high quality display technologies, multiple video screens streaming on one display, and share of videos between different operating room increase the demand for video over IP solutions. Further, the launch of latest A/V streaming devices over IP solutions for digital operating rooms drives the operating room integration market growth. For instance, Sigma-XG which is a one product and one cable infrastructure, which means the device uses only one cable for connection throughout the building it is installed in and can be used to stream video in multiple operating rooms. Therefore, these advancement in audio and video management system drives the operating room integration market growth.
Ease in visualization of patient monitoring and display solutions, advancement of display technologies such as miniaturization of display and ultra-high-quality display outputs drive the market for display solutions for operating room integration. Further, latest technologies provide various modes of display such as mirror image mode, picture-in-picture mode, and side-by-side flexible for multi-image viewing mode. This increases the demand for display solutions among doctors.
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The factors such as advancement in surgical procedures, surge in patient preference for minimally invasive surgeries, and patient monitoring to provide safety boost the growth of the market. However, high initial investment and maintenance of ORI systems hampers the growth of the market. On the contrary, untapped potential of emerging markets are expected to offer lucrative opportunities for the growth of the market globally.
Region wise, the market is analyzed across North America, EMEA, China, and Asia-Pacific. North America was the highest revenue generator in 2019, accounting for $790.0 million, and is estimated to garner $1,622.1 million by 2027, growing at a CAGR of 9.5%.
The global operating room integration market is segmented on the basis of device type, application, end user, and region. Based on the device type, the market is divided into audio & video management system, display system, documentation and recording system, and others. Further, audio & video management system segment is classified into simple video management, advanced video management, and data comparing IP-based version. In addition, display system is categorized into small display and large format display.
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The key players operating in the operating room integration market include Stryker Corporation, KARL STORZ GmbH & Co. KG, STERIS plc, Skytron LLC, Getinge AB, Merivaara Oy, Canon Inc., BrainLab AG, Doricon Medical Systems, and Olympus Corporation, which are profiled in this report. The key market players adopt various strategies such as product launch, product development, collaboration, partnership, agreements, among others to influence the market growth.
Key Findings Of The Study
• By device type, the audio and video management systems segment held the highest revenue of $586.9 million in 2019 and contributed a major part in operating room integration market share.
• By application, the surgery segment held the highest revenue of $934.4 million in 2019.
• By end use, the hospital segment held the highest revenue share of the market in 2019, generating $1.43 Billion as per the operating room integration market analysis.
• By region, North America is expected to dominate the market, garnering a major operating room integration market share during the forecast period.
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