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(Medical-NewsWire.com, March 25, 2021 ) The Operating Room Management Market is expected to reach USD 4.4 billion by 2025 from USD 2.4 billion in 2020, at a CAGR of 12.4%.
Growth in this market can be attributed to factors such as the emphasis on cost control and efficiency improvement in hospitals, growing adoption of EHRs and other HCIT solutions, favorable government support, redevelopment projects, and the availability of funding to promote OR infrastructure.
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Operating Room Management Market Dynamics
Drivers: Increasing emphasis on cost control and efficiency improvement in hospitals
The overall cost of healthcare delivery has grown significantly over the last few decades, mainly due to increasing health insurance premiums, the rising demand for quality healthcare services, rising geriatric population, and the increasing incidence of chronic disorders. Another important factor attributing to rising healthcare costs is the high dependency on traditional and outdated methods such as paper-based patient records, which leads to an increase in readmission rates, medical errors, and administration costs.
Restrains: High pricing and maintenance costs of ORM software
The adoption of ORM solutions has been particularly affected by its high installation and maintenance costs. ORM software, when once installed, also requires to be regularly updated as per the user’s requirement and software enhancements, thereby presenting recurring expenditure. Additionally, the maintenance of high-end IT-enabled systems typically costs more than the software itself.
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Opportunities: Emerging markets and growing medical tourism
Brazil, Russia, India, China, and South Africa (BRICS) are among the fastest-growing economies in the world. According to the World Economic Forum, these emerging economies will account for around one-third of the global healthcare expenditure by 2020. More than half of the world’s population resides in India and China, owing to which these countries are home to a large patient base.
Challenges: Consolidation of healthcare providers
One of the major challenges for operating room management solutions is the consolidation of healthcare providers. The number of independent health care providers has been decreasing as most healthcare providers are turning to mergers, acquisitions, and partnerships and are functioning under a health system rather than operating independently.
Asia Pacific to witness significant growth from 2020 to 2025
Geographically, the operating room management market is segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World. The market in the APAC is expected to grow at the highest CAGR over the next five years. The need to reduce healthcare costs, growing patient volume, and the rising need for accurate disease diagnosis and treatment drive market growth in the region.
Leading Companies
Epic Systems Corporation (US), Cerner Corporation (US), MEDITECH (US), McKesson Corporation (US), GE Healthcare (US), Surgical Information Systems (US), Picis Clinical Solutions (US) are some of the leading players of the operating room management market.
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MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
Source: EmailWire.Com 
Source: EmailWire.com
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