"By 2022, 35 percent to 45 percent of ORs across the world will become integrated ORs. After 2030, with the availability of multiple home care devices, ORs will shift toward a hub-and-spoke model, with the OR being the hub,” said Bejoy Daniel, senior industry analyst, Transformational Health, for Frost & Sullivan. "Approximately $30 billion worth of integration opportunities are likely to become available to healthcare and non-healthcare companies by this period when ORs make the transition from regular rooms to an integrated environment."
Frost & Sullivan’s recent report, "Analysis of the U.S. and EU5 Hospital Operating Room (OR) Products and Solutions Market, Forecast to 2022," analyzes the impact of robotics and workflow solutions on the quality and quantitative measures in the ORs. The study covers workflow solutions, surgical components in the workplace, and OR room services.
"Currently, the priority for vendors is to analyze the available data and facilitate connectivity for device integration. The aim is to interpret, synchronize, and coordinate data to achieve optimal OR results," noted Daniel. "Data interoperabilitywill help analyze past and present data to predict future health outcomes and patient wellness index for optimum use of resources. The shift in favor of data and algorithms will fuel the algorithmic business and endow businesses with a competitive edge."
The OR services segment is highly fragmented and has more potential in Europe than the United States; however, approximately 70 percent to 75 percent of the major hospitals have adopted OR management solutions across both countries. For more growth opportunities, market participants could:
- Foster partnerships with medical device and technology companies to deliver products and services across a larger customer base.
- Adopt virtual reality (VR) in medicine to increase volumes of well-planned and cost-effective precision surgeries.
- Employ Artificial Intelligence (AI) algorithms. For instance, Google is investigating predictive analytics to reduce readmission and identify potential patient risks.
- Provide patient-centric services that are not necessarily aligned to clinical outcomes.
For over five decades, Frost & Sullivan has helped investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, mega trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success.