(I-BusinessNews.Com, July 16, 2020 ) According to a new market research report Operating Room Integration Market is projected to grow at a CAGR of 12.4% during the forecast period, to reach USD 1.7 billion by 2024 from USD 1.0 billion in 2019.
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The growth in this market is driven by the increasing adoption of minimally invasive surgical procedures, redevelopment projects & funding for improving OR infrastructure, and rising need to curtail healthcare costs. Also, emerging economies (such as China, India, Brazil, and Mexico) are expected to offer lucrative growth opportunities for market players during the forecast period.
The general surgery segment accounted for the largest share of the operating room integration market, by application, in 2018. Factors such as the increasing incidence of breast cancer, colorectal cancer, liver cancer, GI disorders, and endocrine disorders as well as the rising number of general surgical procedures performed worldwide are driving the growth of this segment.
In 2018, the hospitals segment accounted for the largest share of the operating room integration market. The large share of this segment can be attributed to the rising patient emphasis on timely and effective disease management, rising number of diagnostic and surgical procedures carried out at hospitals, and the increasing number of hospitals being set up in developing countries.
Stryker dominated the global operating room integration market in 2018. The company offers OR integration solutions through its Endoscopy division. Stryker holds a noteworthy position in the OR integration market, owing to its strong product portfolio. The company offers a full range of operating room products under the brand name-iSuite. In 2018, Stryker’s Endoscopy division recorded sales growth of 11.7%.
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Stryker Corporation (US), STERIS (US), KARL STORZ (Germany), and Olympus (Japan) are the key players operating in the operating room integration market. Other prominent players in the market include Getinge (Sweden), Alvo Medical (Poland), Skytron (US), Merivaara (Finland), Brainlab (Germany), TRILUX Medical (Germany), caresyntax (US), Sony (Japan), Barco (Belgium), Arthrex (US), and Richard Wolf (Germany).
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