Operating Room Management Market to Expand With a CAGR of 11.6% Due to Growing Adoption From Hospitals for Reducing Costs of Treatment, Says TMR

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Nov 14, 2018, 08:00 ET

ALBANY, New York, November 14, 2018 /PRNewswire/ --

According to TMR, the global operating room management market is anticipated to gain a revenue valued at US$3600 mn by 2022. The market is expected to expand with a strong CAGR of 11.6% during the forecast period ranging from 2017 to 2022. Based on the component, the service segment is expected to attain a value of US$2,700 mn by the end of 2022. Based on the application, the anesthesia information management systems segment is expected to attain a value of US$550 mn by the end of the year 2017. Based on the delivery mode, the on-premise segment is expected to attain a value of US$2,300 mn by end of 2022. Based on the region, North America dominated the global operating room management market.

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Advantages Due to Adoption of Software to Propel Growth

Growing healthcare prices coupled with growing infrastructural improvements are some of the problems for hospitals and caregivers. Though, the task of achieving patient satisfaction despite the high cost of healthcare is making the situation of hospitals difficult. Also, growing number of surgeries due to growing number of growing elderly population and people suffering from numerous diseases is boosting adoption of operating room management systems which is boosting growth of the global operating room management market.

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The hospitals are primarily focusing on the cost control and improvement of infrastructure for improving efficiency of operating room which is propelling growth of the global operating room management market. Furthermore, rising technological advancements which is boosting demand for operating room management systems. This systems facility improves coordination between the teams working in the operating rooms which offer ease in the management of surgeries and helps in the improvement of services. High adoption of these systems is boosting growth of the global operating room management systems market.

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Additionally, the systems offer better and effective monitoring with the help of operating room management systems. Thanks to these excellent features of the systems the hospitals are increasingly adopting the operating room management and likely to propel growth of the market over the forecast period. In addition, the better facilities offered by hospitals with help of software is attracting more patients that in turn influencing positively on the revenue of hospitals. This factor is also helping to propel adoption and induce growth of the market.

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High Cost of Software to Hamper Growth of Market

Despite its advantages, high installation and maintenance prices coupled with lack of awareness and low budget of hospitals is restraining growth of the market. Additionally, a technical limitation such as concerns over information security due to conflicting protocols is limiting adoption and posing as a challenge to the market. Nonetheless, growing research and development activities in order to improve the product and make advancement in features. This is offering lucrative opportunities over the forecast period.

Transparency Market Research (TMR) observes the global operating room management market has highly competitive vendor landscape owing to the presence of numerous players operating globally. Some of the key players operating in the global operating room management market are General Electric Company, Becton, Nexus AG, Dickinson and Company, and Richard Wolf GmbH.

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This information is encompassed in the new report by TMR, titled "Operating Room Management Market (Component - Solution, Services; Application - Data Management and Communication Solutions, Anesthesia Information Management Systems, Operating Room Supply Management Solutions, Operating Room Scheduling Solutions, Performance Management Solutions, Other Solutions; Delivery Mode - On-Premise, Web-Based, Cloud-Based) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2022."

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