OR products and services market expected to reach $7.04 billion by 2022

OR products and services market expected to reach $7.04 billion by 2022

by John R. Fischer, Senior Reporter | July 08, 2019
Operating Room
The US and EU5 hospital OR products
and solutions market is expected
to reach $7.04 billion by 2022
Driven by the transformation of the operating room environment, the $4.5 billion U.S. and EU5 (France, Germany, Italy, Spain, United Kingdom) hospital OR products and solutions market is expected to reach $7.04 billion by 2022, according to a Frost & Sullivan Analysis, titled Analysis of the US and EU5 Hospital Operating Room (OR) Products and Solutions Market, Forecast to 2022.

The development of robotic-assisted surgery devices (RASDs) is predicted to create a New Age OR and sleek surgical environment that is infection-free, and utilizes intelligent and efficient delivery options to enhance precision and predictability of services offered. It is expected that 35 to 45 percent of ORs will become integrated ORs by 2022, and that they will shift after 2030 toward hub-and-spoke models, making them affordable, accessible and available to larger populations, with the OR acting as the hub.

"The model is a futuristic model to ensure capabilities to address a large proportion of the unmet needs. This would enable connects to ensure the hub provides a full range of services, while the connected establishments interact as spokes offering patient tracking and routing to the concerned hub," Dr. Bejoy Daniel, senior industry analyst, transformational health, told HCB News. "This would enable optimization and better process flow for effective healthcare services within and across networks and countries as well."

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Approximately 70-75 percent of major hospitals in both the U.S. and Europe have adopted OR management solutions.

Vendors are currently focused on interpreting, synchronizing and coordinating available data to ensure connectivity for device integration to achieve optimal OR results. The use of this data interoperability will help assess past and present data to predict future health outcomes and patient wellness index for optimum use of resources. In addition, the shift toward data and algorithms will drive the algorithmic business and boost companies with a competitive edge.

The OR segment, however, is highly fragmented and holds more potential in Europe than in the U.S. Those wishing to grow their presence in this area are advised by the report to establish partnerships with technology companies with large customer bases; adopt virtual reality to increase volumes of well-planned and cost-effective precision surgeries; employ AI algorithms for tasks such as reducing readmission and identifying potential patient risks; and providing patient-centric services that are not necessarily aligned to clinical outcomes.

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