Asia-Pacific Integrated Operating Room Systems Market Overview, Future Trends, Growth Factors, Historical Analysis Forecast To 2027
Asia-Pacific Integrated Operating Room Systems Market Research Report, by Device (Operating Tables type, Operating Room Lights), Surgical Application (Therapeutics and Diagnostics Imaging), Type (Procedure Scheduling System) – Global Forecast Till 2027
With the advent of progressive diagnostic and imaging technology in the medical sector, ORs are gradually becoming more complex and congested with a growing assembly of OR devices and monitors. OR Integration Systems are being designed in a manner that simplifies and restructure the OR as efficiently as possible by giving access to video, consolidating data, and controls for all of the devices in the OR at a central command station, freeing up the surgical staff to execute many of their tasks competently without requiring unnecessary movement in the OR. The market is projected to achieve USD 367.2 million in earnings while developing with a CAGR of 12.20 percent in the forecast period from 2018 to 2023.
The recent rise in the burden of chronic diseases globally has amplified, resulting in parallel demand surge for therapeutic surgeries such as orthopedic surgeries, bariatric, cardiovascular surgery, etc. The increasing number of surgeries are estimated to have a significant impact on the market’s growth. The favorable reimbursement policies of the governments in the region are also increasing the demand for the market substantially. The availability of such reimbursement policies is creating a growing pool of patients deciding to go for expensive surgeries. This trend is expected to be positively reflected in the growth of the market in the duration of the forecast period. In India, the government, along with corporates, are encouraging medical care. This has made the country a preferred medical destination. The medical tourists travelling to nations such as India usually have spine and brain surgeries, heart, liver, and bone marrow transplants, orthopedic replacement surgeries, cancer and kidney treatment, and in-vitro fertilization. The rising level of spending on medical tourism in India has moreover created numerous prospects for the market to develop. Furthermore, the market players of Asia Pacific integrated operating room systems have raised their R&D expenditures, to increase their present products line and launch new products. This trend is estimated to boost the development of the market considerably.
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Innovative technologies that are enabling less invasive methods in many types of surgeries are also majorly contributing to the development of the market. Additionally, the development of the economic scenario in the Asia Pacific region coupled with efforts to improve the infrastructure in emerging nations is stimulating the market’s expansion, thus making it an ideal environment for the development of the market.
Segmental Analysis
The Asia Pacific integrated operating room systems market is segmented on the basis of surgical application, device, and type. On the basis of device, the market is segmented into operating room lights, operating table types, intraoperative diagnostic devices, and operating room communication systems. The operating tables segment dominates the Asia Pacific integrated operating room systems market. The segment held the major market share in 2018 and is projected to achieve USD 93.93 million by 2023. The segmentation on the basis of surgical application comprises of diagnostics imaging application and therapeutics application. The therapeutic segment is accredited for the major market share and is likely to reach USD 45.02 million by 2023 in revenues. On the basis of type, the market segmentation comprises of recording and documentation system, operating room and procedure scheduling system, operating room inventory management system, audio and video management system, instrument tracking system, and anesthesia information management. The anesthesia information management systems (AIMS) controls the Asia Pacific integrated operating room systems market and is estimated to touch USD 84.8 million in revenue by the end of 2023.
Detailed Regional Analysis
The market in the Asia Pacific for integrated operating room systems is developing quickly. The Asia Pacific region is anticipated to witness high growth in the coming years for the market of integrated operating room systems. The Asia Pacific region is likely to be driven by factors such as increasing number of surgeries, favorable reimbursement policies, and benefits of least congestion and streamlined flow of information are likely to motivate the market’s development for the duration of the forecast period. However, the rising cost of surgeries and hospitalization, followed by related risks, is anticipated to hinder the market’s growth. There is an abundance of growth opportunities in the Asia Pacific region for the integrated operating room systems market, which is governed by technologically advanced products in integrated operating room systems.
Competitive Analysis
The market is greatly competitive with all the competitors striving to increase their market share. Strong competition, rapid advances in technology, continual modifications in government policies, and environmental regulations are crucial factors that are reinforcing the market’s growth. The vendors in the market are competing based on quality, cost, and reliability. It is vital for the vendors to deliver high-quality and cost-efficient products, to endure and prosper in a deeply competitive market environment. Stryker Corporation, Skytron, LLC, Danaher Corporation (Leica Microsystems GmbH), Olympus Corporation of the Americas (Image Stream Medical, Inc.), Barco, Johnson & Johnson Services Inc, GE Healthcare, Cook Medical, KARL STORZ GmbH & Co. KG, Koninklijke Philips N.V., Canon INC., STERIS plc among others are the notable competitors that are boosting the development of the market.
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