Operating Room Management Market Forecasts to 2028 – Global Analysis By Vehicle (Services, Software and Other Components), Solutions Operating Room Supply Management Solutions, Data Management and Communication Solutions and Other Solutions), Delivery Mode (Cloud-Based Solutions, On-Premise Solutions and Web-Based Solutions), End User and By Geography
According to Stratistics MRC, the Global Operating Room Management Market is accounted for $4.02 billion in 2022 and is expected to reach $9.31 billion by 2028 growing at a CAGR of 15.0% during the forecast period. Operation room management maximises operational effectiveness by increasing the volume of operations accomplished while reducing the amount of resources required. Many problems are more common as the global senior population grows. The emphasis is on cost-effectiveness and efficiency enhancement in operating rooms worldwide to overcome this. This fuels the operating room management business on a global scale. In addition, more hospitals and ambulatory surgery centres are using operating room management solutions, more people are aware of the advantages of using operating room management software, and more people are developing ailments that need surgical treatment.
According to National Health Interview Survey (NHIS), in 2018, 51.8% of US adults had at least one chronic condition, and 27.2% had multiple chronic conditions. According to World Health Organization (WHO), globally in 2010 approximately 524 million people were aged 65 years and older, and is expected to reach 1.5 billion in 2050.
Market Dynamics
Driver:
Increasing emphasis on cost control and efficiency improvement in hospitals
The entire cost of providing healthcare has increased dramatically, primarily as a result of rising health insurance premiums, growing demand for high-quality medical care, an ageing population, and an increase in the prevalence of chronic diseases. With the effective use of various healthcare IT solutions, numerous governments and healthcare systems throughout the world are now concentrating on controlling rising healthcare expenses by reducing patient readmissions, medical errors, and administration expenditures. As a result, it is anticipated that the expansion of this market in the upcoming year would be supported by hospitals' increasing attention on cost reduction and efficiency improvement.
Restraint
High pricing and maintenance costs of ORM software
The high installation and maintenance costs of ORM systems have had a specific negative impact on their uptake. The cost of updating ORM software on a regular basis to reflect user needs and software advancements is recurrent once it has been implemented. Furthermore, the cost of maintaining sophisticated IT-enabled systems is frequently higher than the cost of the software itself. It is therefore reasonable to anticipate that the high costs associated with the acquisition, setup, upkeep, and update of ORM software and solutions will have a negative impact on end users' overall acceptance of these products, thereby limiting market growth to a certain extent.
Opportunity
Emerging markets and growing medical tourism
The BRICS countries—Brazil, Russia, India, China, and South Africa—have some of the quickest economies in the world. India and China are home to a significant patient population because they account for more than half of the world's population. Operating room management market participants are being encouraged to expand their presence in emerging nations by the rising incidence of cancer, advancements in healthcare infrastructure, a laxer regulatory environment, and rising medical tourism. In rising nations, there will likely be more hospitals and surgical facilities in the upcoming years as a result of the growth in the patient population. Additionally, the governments of these nations are now launching programmes to upgrade and extend their individual healthcare systems.
Threat
Consolidation of healthcare providers
The combination of healthcare providers is one of the main obstacles for operating room management systems. The majority of healthcare providers are turning to mergers, acquisitions, and partnerships in addition to working as part of a health system, which has led to a decline in the number of independent healthcare providers. Currently, rather of functioning independently, more than 70% of hospitals are a part of a health system. Due to a lack of customers, the market may become oligopolistic, giving consumers more negotiating power and perhaps eroding operating room management system providers' profit margins.
Covid-19 Impact
A number of other healthcare information technology companies were negatively impacted by the COVID-19 pandemic, which had an impact on the operating room management market share. The pandemic had an impact on the workforce, staffing concerns, operation prioritisation, and the danger of virus transmission during surgery procedures, and surgical education. As a result, fewer procedures were carried out in hospitals. Lockdown difficulties prevented hospitals from implementing new technologies. For more market participants, this has led to a loss of financial revenue.
The cloud-based solutions segment is expected to be the largest during the forecast period
The cloud-based solutions segment is estimated to have a lucrative growth, due to its increased effectiveness and data accessibility across many platforms. In the medical industry, cloud computing is progressively becoming required. For the storage and retrieval of their digital data, more healthcare providers are collaborating with businesses that provide cloud computing solutions. The capacity to safely store information off-site is a big advantage for both large and small service businesses.
The hospitals segment is expected to have the highest CAGR during the forecast period
The hospitals segment is anticipated to witness the fastest CAGR growth during the forecast period, due to an increase in the number of hospitals and outpatient surgical centres in established and developing nations alike, a spike in the use of operating room management solutions, an increase in accidents, and an increase in healthcare expenses.
Region with highest share:
Europe is projected to hold the largest market share during the forecast period owing to rapid technological advancements in operating room management systems and advances in A.I. technology are fueling this market's strong revenue growth. The United Kingdom market accounted for the largest revenue share because of its advanced healthcare system. Also, increased market participant investments will result in the introduction of cutting-edge items, which will promote market growth.
Region with highest CAGR
North America is projected to have the highest CAGR over the forecast period, owing to The rapid adoption of robotic surgery in this field is also fueling the revenue growth of the operating room management market. The market revenue growth in this region is significantly impacted by how well healthcare organisations utilise EHR records. The United States market accounted for the largest revenue share since chronic diseases are becoming more prevalent there. The key market players in this country are also introducing new goods and investing a lot of money to strengthen their positions in the industry, which is resulting in a rise in market revenue.
Key players in the market
Some of the key players profiled in the Operating Room Management Market include Optum Inc., Cerner Corporation, Altera Digital Health Inc, Nexus AG, Getinge AB, Anestech Innovation Rising, Richard wolf Gmbh, Allscripts Healthcare Solutions, Inc., Surgical Information Systems LLC, Censis Technologies Inc., Karl Storz se & co. Kg, Picis Clinical Solutions Inc, Medical Information Technology, Inc., Epic Systems Corporation, Mckesson Corporation, GE Healthcare, Proximie and Omnicell.
Key Developments
In June 2022, Proximie successfully raised USD 80 million in Series C equity financing to accelerate the development and scale of Proximie's Operating System for the operating room, a centralized platform delivering connected surgical care.
In March 2022, Medtronic entered into a contract with Vizient to add touch surgery enterrprise, AI-powered surgical video management and analytics platform for the operating room (OR), to Vizient’s offerings.
Components Covered:
• Services
• Software
• Other Components
Solutions Covered:
• Operating Room Supply Management Solutions
• Data Management and Communication Solutions
• Performance Management Solutions
• Anesthesia Information Management Systems
• Operating Room Scheduling Solutions
• Other Solutions
Delivery Modes Covered:
• Cloud-Based Solutions
• On-Premise Solutions
• Web-Based Solutions
End Users Covered:
• Ambulatory Surgery Centers
• Hospitals
• Other End Users
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
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