LONDON, UK (GlobalData) - Operating rooms (ORs) are due to see a technological makeover, as healthcare spending cuts and an increased elderly population demands that surgery be as efficient as possible, claims a new report by medical experts GlobalData.
The new report* investigates the rise of OR solutions, which include technologically advanced operating tables, surgical lights, cameras, and equipment management systems, implemented to improve workflow, and enhance physician performance and patient safety.
The ageing population in the US is expected to bring about a significant increase in surgical procedures by 2020, which is expected to contribute to growth in the OR solutions market. The demand for surgery will therefore grow, and surgeons will be expected to perform procedures more quickly in order to meet demand. OR solutions can prove vital in this way – for instance, equipment can be easily positioned if mounted on ceiling booms, decreasing the set-up and clean-up time of ORs. Therefore, OR solutions help generate greater hospital revenue by reducing OR turn-over times and enhancing operating efficiency.
As baby boomers age, the need for healthcare grows, but the global economic recession has led to stringent healthcare cuts in many countries. These funding cuts have led to a shortage of healthcare professionals in hospitals, as staffing is minimized in order to save costs. OR solutions decrease the number of supporting staff required during surgery, as equipment can perform simple tasks which remove the need for an assisting nurse.
Despite the savings which can be made on staffing, the high costs of OR solutions can put the technology out of reach of struggling healthcare trusts. OR solutions can cost anywhere from $250,000 to $2m, and economic uncertainty in major European markets coupled with rising healthcare expenditure due to ageing population can have an adverse impact on OR solutions sales.
The global OR solutions market was valued at $1.86 billion in 2011 and is expected to grow at a CAGR of 7.4% to reach $3.1 billion in 2018.
This report provides information and analysis on global Operating Room (OR) solutions, giving global market forecast until 2018, as well as market drivers and restraints and competitive assessment for the market.
The report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData’s team of industry experts.
GlobalData is a leading global business intelligence provider offering advanced analytics to help clients make better, more informed decisions every day. Our research and analysis is based on the expert knowledge of over 700 qualified business analysts and 25,000 interviews conducted with industry insiders every year, enabling us to offer the most relevant, reliable and actionable strategic business intelligence available for a wide range of industries.