Dublin, Sept. 19, 2019 (GLOBE NEWSWIRE) -- The "Global Operating Room Management Solutions Market: Focus on Solutions Type (Data Management, Communication, Anesthesia Information Solutions, OR Scheduling, and Inventory Management, among others), Mode of Deployment, End Users and Region - Analysis and Forecast, 2019-2029" report has been added to ResearchAndMarkets.com's offering.
The global operating room management solutions generated a revenue of $1.84 billion in 2018 and is estimated to grow over $3.69 billion by the end of 2029. The market is projected to grow at a CAGR of 6.4%, during the forecast period from 2019 to 2029.
There are multiple factors that drive the market such as the rising push toward streamlining of OR workflows and increasing the operational efficiency in order to meet consistently increasing surgical volume. The contribution of chronic diseases and the rapidly increasing geriatric population is also significantly facilitating the growth of the market.
Operating room management is the discipline of healthcare IT which majorly focuses on maximizing operational efficiency within a surgical suite. The increase in operational efficiency, in turn, helps in maximizing the number of surgical cases that can be performed in any given day while minimizing the resources required and other related costs. Typically, operating room management varies on the basis of the region it is being employed in. For example, in profit-oriented healthcare systems, OR management is employed to emphasize on strategic thinking in order to increase revenue generation, while countries wherein citizens are covered with a publicly funded healthcare system, OR management is a key step employed to emphasize on operational decisions.
Operating rooms comprise a significant fraction of hospital expenditure. The operations take typically $1000 per hour; however, they also generate revenue. Surgical operations and their associated hospitalizations generate about 70% of the hospital's revenue, hence keeping the patient safety a constant, healthcare stakeholders are consistently trying to modify the use of existing resources to increase financial gains.
According to a study published in the Journal of the American Medical Association, about $140 billion is lost every year in the U.S. healthcare system which is primarily due to inefficient management of internal operations. With the advent of digitization within OR environments (especially after the incentive-backed implementation of EHR), healthcare stakeholders are consistently employing software solutions that may cater to the diverse needs of the operating room such as OR scheduling and planning, image capture and analysis, inventory management and traceability, data management, and communication solutions.
Anaesthesia information management systems are expected to hold the largest share of the market (32.27%) with a souring CAGR of 4.7%. However, in terms of growth rate, operating room supply management solutions are expected to attain the highest CAGR of 7.9% during the forecast period. In terms of deployment model, web-based solutions (on-demand software) are expected to grow with the CAGR of 10.6% during the forecast period. This growth rate is primarily due to consumer preferences as these solutions free the user from application hosting, maintenance, and security aspects.
Research Highlights
- Most of the hospitals use surgical scheduling systems designed by leading EMR vendors such as Epic Systems, and Cerner Corporation, among others. The surgery prediction approach used by most of the commercial vendors is currently based on a moving average of previous cases, procedure and surgeon codes.
- According to a study conducted by the Center for Innovation in Healthcare Logistics, an industry-university partnership, in 2013, in which three hospitals of the Mercy network (a US-based hospitals system) participated, it was noted that the usage of the inventory management can reduce the cost of the medical and surgical procedures up to 6-13.5%
- Though the on-premise model is the least preferred when it comes to data accessibility, the data privacy aspect of this model is hard to replicate hence companies are now developing software that works on this model as well as any other model like cloud or web for data sharing.
- The major reason for switching to or preferring cloud-based model is the cost-effectiveness. The usage of cloud-based software rather than on-premise and web-based results into 2%-10% times more cost-effectiveness as compared to its counterparts. Other reasons include low maintenance costs, speed of deployment and limited technical expertise and the staff requirement.
- Though it is known that the efficient utilization of the inventory can save a hospital a large part of its expenditure budget, operational efficiency could be further increased by using the cloud-based inventory management system. A cloud-based inventory management system will keep the stock of all the inventory and does not require any staff member to provide the input. One example of a cloud-based inventory management system is Smart Cabinet from LogiTag.
Key Topics Covered
Executive Summary
1 Product Definition
1.1 Data Management
1.2 Communication Solutions
1.3 Anesthesia Information Management Systems (AIMS)
1.4 Scheduling Software
1.5 OR Supply Management Solutions
1.6 Image Analysis
1.7 Visualization
1.8 Reporting and Documentation
2 Scope of the Report
3 Research Methodology
3.1 Research Methodology
3.1.1 Primary Data Sources
3.1.2 Secondary Data Sources
3.1.3 Data Triangulation
3.1.4 Data and Prediction Modeling
4 Industry Analysis
4.1 Industry Structure
4.2 Value Chain Analysis
4.2.1 Inbound Activities
4.2.2 Operations
4.2.3 Outbound Logistics
4.2.4 Sales and Marketing
4.2.5 Service
4.3 Regulatory Framework
4.3.1 Regulatory Framework in North America
4.3.2 Regulatory Framework in Europe
4.3.3 Regulatory Framework in Asia-Pacific
4.4 Patent Analysis
4.5 Legal Requirements and Regulations
4.5.1 Class I: Regulation of OR Integration Software
4.6 Key Developments
4.6.1 Acquisitions
4.6.2 Product Launches:
4.6.3 Agreements, Partnerships, and Collaborations
5 Market Dynamics
5.1 Growth-Promoting Factors
5.1.1 Push Toward Streamlining Workflows and Increasing Efficiency in Operating Rooms
5.1.2 Surge in Chronic Diseases and Rapidly Increasing Geriatric Population
5.1.3 Rise in Geriatric Population
5.1.4 Rising Need for Surgical Care Services
5.2 Market Challenges
5.2.1 High Cost of Operating Room Management Software
5.2.2 Increasing Security Breaches
5.3 Market Opportunities
5.3.1 Solutions with Image Superimposition Capabilities
5.3.2 Investment in Speech Control Solutions
5.3.3 Increasing Number of Surgeries in Developing Countries
5.3.4 Integration of Different Software with the Operating Room Software Platform
5.3.5 Investment in Emerging Markets Such as the Middle East and APAC Countries
6 Competitive Landscape
7 Global Operating Room Management Solutions (by Type)
7.1 Operating Room Data Management
7.2 Operating Room Communication Solutions
7.3 Anesthesia Information Management Solutions
7.4 Operating Room Scheduling Software
7.5 Operating Room Supply Chain Management Solutions
8 Global Operating Room Management Solutions Market (by Mode of Deployment)
8.1 Overview
8.2 On-Premise Model
8.3 On-Cloud Based Model
8.4 Web-Based Model
9 Global Operating Room Management Solutions Market (by End Users)
9.1 Hospitals
9.2 Ambulatory Surgery Centers
10 Global Operating Room Management Solutions (by Region)
10.1 Overview
10.1.1 Analysis of Growth Potential of Different Countries
10.2 North America
10.2.1 U.S.
10.2.2 Canada
10.3 Europe
10.3.1 Germany
10.3.2 Spain
10.3.3 U.K.
10.3.4 France
10.3.5 Italy
10.4 Asia-Pacific
10.4.1 India
10.4.2 China
10.4.3 Japan
10.4.4 South Korea
10.4.5 Australia
10.4.6 New Zealand
10.5 Rest-of-the-World
10.5.1 Brazil
10.5.2 Mexico
10.5.3 Kingdom of Saudi Arabia
10.5.4 United Arab Emirates
10.5.5 Russia
11 Company Profiles
11.1 Overview
11.2 Allscripts Healthcare Solutions Inc.
11.2.1 Role of Allscripts Healthcare Solutions in the OR Management Solutions Market
11.2.2 Financials
11.2.2.1 Financial Summary
11.2.3 SWOT Analysis
11.3 Becton, Dickinson & Company
11.4 Brainlab AG
11.5 Cerner Corporation
11.6 DXC Technology
11.7 Getinge AB
11.8 General Electric Company
11.9 McKesson Corporation
11.10 NEXUS AG
11.11 OMNICELL Inc.
11.12 Picis Clinical Solutions Inc.
11.13 Richard Wolf GmbH
11.14 Surgical Information Systems LLC
11.15 Steris Corporation
11.16 Vocera Communications Inc.
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