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Global Insights and Growth Analysis of the Operating Room Management Software Market
Operating Room Management Software Global Market Report 2024
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According to The Business Research Company's, The operating room management software market size has grown rapidly in recent years. It will grow from $2.47 billion in 2023 to $2.77 billion in 2024 at a compound annual growth rate (CAGR) of 12.1%. The growth in the historic period can be attributed to favorable government support, patient safety and quality of care, regulatory requirements, the need for redevelopment of projects, and cost management.
The operating room management software market size is expected to see rapid growth in the next few years. It will grow to $4.39 billion in 2028 at a compound annual growth rate (CAGR) of 12.2%. The growth in the forecast period can be attributed to increasing demand for minimally invasive surgeries, growing healthcare expenditure, growing surgical procedures, growing medical tourism, and the rising prevalence of chronic diseases. Major trends in the forecast period include increased adoption of AI and machine learning, cloud-based solutions, product innovations, interoperability and integration, and enhanced data analytics.
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Market Drivers and Trends:
The increasing heart disease is expected to propel the growth of the leadless pacemaker market going forward. Heart diseases refer to a range of conditions that affect the heart's structure or function, leading to impaired blood flow, abnormal heart rhythms, or other cardiovascular complications. The rising heart diseases are due to population growth and aging, lifestyle factors, stress and inactivity, healthcare system challenges, and genetic and environmental factors. Leadless pacemakers offer significant advantages in managing certain heart diseases by providing effective pacing while reducing the risk of lead-related complications and offering a less invasive implantation procedure. For instance, in February 2024, according to the World Health Organization (WHO), a Switzerland-based intergovernmental organization, there are expected to be over 35 million new cases of cancer in 2050, a 77% increase over the projected 20 million cases in 2022. Therefore, increasing heart disease is driving the growth of the leadless pacemaker market.
Major companies operating in the operating room management software market are prioritizing the development of artificial intelligence capabilities within their software to enhance efficiency, improve decision-making, and optimize resource utilization. Artificial intelligence (AI) in operating room software involves the integration of AI technologies to improve the efficiency, accuracy, and safety of surgical procedures. For instance, in May 2022, Zimmer Biomet Holdings Inc., a US-based medical device company, introduced advanced artificial intelligence capabilities for its Omni Suite intelligent operating room. This innovative AI feature is designed to optimize surgical workflow and procedural efficiency by automating manual tasks and streamlining unnecessary technology and redundant hardware. The AI function uses cameras to automatically recognize and timestamp key operating room (OR) workflow milestones, such as patient entry and exit, door count, anesthesia administration, surgery, and cleaning. Surgical teams are guided through a process that leverages real-time access to workflow analytics to enhance OR workflow efficiency.
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Major Key Players of the Market:
McKesson Corporation, Optum Inc., Medtronic Plc, Siemens Healthineers AG, Koninklijke Philips N.V., Stryker Corporation, GE HealthCare Technologies Inc. , B. Braun Melsungen AG, Zimmer Biomet Holdings Inc., Smith & Nephew plc, Steris plc, Hill-Rom Holdings Inc., Getinge Group, KARL STORZ GmbH & Co. KG, Richard Wolf GmbH, Picis Clinical Solutions Inc., Talis Clinical LLC, Medtel, Genesis Automation Healthcare, Epic Systems Corporation, Medical Information Technology Inc.
Operating Room Management Software Market 2024 Key Insights:
• The operating room management software market size is expected to see rapid growth in the next few years. It will grow to $4.39 billion in 2028 at a compound annual growth rate (CAGR) of 12.2%.
• Rising Surgical Procedures To Fuel Growth Of The Operating Room Management Software Market
• Increasing Integration Of AI In Operating Room Management Software To Enhance Efficiency And Market Growth
• North America was the largest region in the operating room management software market in 2023
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