Global Operating Room Devices and Solutions Growth Opportunities

Global Operating Room Devices and Solutions Growth Opportunities

Emerging Business Models & Strategies for Cash-strapped Hospitals

RELEASE DATE
22-Jun-2022
REGION
Global
Research Code: MG8D-01-00-00-00
SKU: HC03553-GL-MT_26655
$4,950.00
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$4,950.00
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Description

Hospitals are under extreme pressure to reduce costs and increase profits. Considering today’s uncertain regulatory climate and challenging economic environment, medical device companies are challenged to provide products and services to hospitals at an affordable cost. The operating room (OR) offers many opportunities to do so. ORs drive approximately 60% of revenue in the average hospital. The most critical issues in an OR, however, involve finding new methods to reduce human error and improving the efficiency and quality of surgical care.

Technology is now available to help hospitals reduce surgical risks and maximize their return on OR investments. As such, the opportunities for medtech players continue to grow as mergers and acquisitions increase. Venture capitalists are shifting their focus to invest in early-stage companies that develop innovative medical technologies, which means emerging medical device companies need to think outside the box by accomplishing more with less expenditure. Apart from offering compatibility , OR vendors will need to focus on future-proofing their devices and solutions by offering long-term contracts that will enable them to retain clients and deliver upgraded versions of their solutions. This will include compatibility in terms of dexterity, connectivity, data capture, and supporting capabilities for virtual reality (VR), augmented reality (AR), and mixed reality (MR) for the OR.

OR products and solutions are transitioning from simple boxes to technology-fueled, integrated services, with advancements in minimally invasive surgery (MIS) to minimize hospital stays. Offering a full range of OR products with bundling decreases the average sales price for components and solidifies market share. As hospitals look to invest in solutions that integrate and collaborate multidisciplinary units and devices for optimal resource and space utilization, companies are transitioning their offerings from OR products to OR solutions and catering to low-cost settings.

This study focuses on 2 market segments: OR workflow solutions and OR surgical workplace devices.

Factors that will influence average selling prices through the forecast period (2022–2026) include intense competition from low-cost vendors, price pressure on manufacturers, and system upgrades to digital or integrated platforms.

However, manufacturers will provide additional services to healthcare facilities as a part of long-term contracts. Those services will include: consultation on workflow management; coordination of production, inventory, location, and transportation in a supply chain; use of data analytics to predict demand and streamline order; and collaboration with hospitals and centers with larger surgery volumes.

Author: Bejoy Daniel

RESEARCH: INFOGRAPHIC

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Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the Operating Room (OR) Devices and Solutions Market

Growth Opportunities Fuel the Growth Pipeline Engine™

Scope of Analysis

Segmentation

Definitions—Workflow Solutions

Definitions—Surgical Workplace Devices

Key Competitors

Key Competitors (continued)

Key Competitors (continued)

Growth Metrics

Growth Drivers

Growth Restraints

Industry Challenges—What Keeps Hospital Chief Executive Officers (CEOs) Awake at Night?

Forecast Assumptions

Revenue and Unit Shipment Forecast

Revenue Forecast by Product

Revenue Forecast by Region

Revenue Forecast Analysis

Unit Shipment Forecast by Product

Unit Shipment Forecast by Region

Regional Forecast Analysis

Pricing Trends and Forecast Analysis

Competitive Environment

Revenue Share

Revenue Share Analysis

Growth Metrics

Revenue and Unit Shipment Forecast

Revenue Forecast by Product

Revenue Forecast by Region

Unit Shipment by Product

Unit Shipment Forecast by Region

Forecast Analysis

Forecast Analysis (continued)

Growth Metrics

Revenue and Unit Shipment Forecast

Revenue Forecast by Region

Revenue Forecast by Product

Unit Shipment by Product

Unit Shipment Forecast by Region

Forecast Analysis

Forecast Analysis (continued)

Transforming to Healthcare Hubs

Growing Emphasis on Outpatient Settings

Directing Patients to the Appropriate Surgical Center

What Should OR Medtech Companies Do?

OR Device Company Priorities and Strategies

Business Model—Risk-sharing Model

Business Model—Risk-sharing Model (continued)

Business Model—Risk-sharing Model Discussions

Business Model—Digital Partnership Model

Business Model—Digital Partnership Model (continued)

Growth Opportunity 1: Network of Asset-light Models Expanding Market Access for Providers for Outpatient Settings

Growth Opportunity 1: Network of Asset-light Models Expanding Market Access for Providers for Outpatient Settings (continued)

Growth Opportunity 2: New Pricing Models to Improve Adoption

Growth Opportunity 2: New Pricing Models to Improve Adoption (continued)

Growth Opportunity 3: AI-assisted Care to Close Information Gaps and Lead to Better Clinical Decisions with Navigation and Visualization Solutions

Growth Opportunity 3: AI-assisted Care to Close Information Gaps and Lead to Better Clinical Decisions with Navigation and Visualization Solutions (continued)

Growth Opportunity 4: Simulation and Training for Enhanced Surgical Outcomes

Growth Opportunity 4: Simulation and Training for Enhanced Surgical Outcomes (continued)

Growth Opportunity 5: Telehealth Enabled with Digital Connectivity to Eliminate Latency with Navigation and Visualization Solutions

Growth Opportunity 5: Telehealth Enabled with Digital Connectivity to Eliminate Latency with Navigation and Visualization Solutions (continued)

Your Next Steps

Why Frost, Why Now?

List of Exhibits

List of Exhibits (continued)

Legal Disclaimer

Hospitals are under extreme pressure to reduce costs and increase profits. Considering today’s uncertain regulatory climate and challenging economic environment, medical device companies are challenged to provide products and services to hospitals at an affordable cost. The operating room (OR) offers many opportunities to do so. ORs drive approximately 60% of revenue in the average hospital. The most critical issues in an OR, however, involve finding new methods to reduce human error and improving the efficiency and quality of surgical care. Technology is now available to help hospitals reduce surgical risks and maximize their return on OR investments. As such, the opportunities for medtech players continue to grow as mergers and acquisitions increase. Venture capitalists are shifting their focus to invest in early-stage companies that develop innovative medical technologies, which means emerging medical device companies need to think outside the box by accomplishing more with less expenditure. Apart from offering compatibility , OR vendors will need to focus on future-proofing their devices and solutions by offering long-term contracts that will enable them to retain clients and deliver upgraded versions of their solutions. This will include compatibility in terms of dexterity, connectivity, data capture, and supporting capabilities for virtual reality (VR), augmented reality (AR), and mixed reality (MR) for the OR. OR products and solutions are transitioning from simple boxes to technology-fueled, integrated services, with advancements in minimally invasive surgery (MIS) to minimize hospital stays. Offering a full range of OR products with bundling decreases the average sales price for components and solidifies market share. As hospitals look to invest in solutions that integrate and collaborate multidisciplinary units and devices for optimal resource and space utilization, companies are transitioning their offerings from OR products to OR solutions and catering to low-cost settings. This study focuses on 2 market segments: OR workflow solutions and OR surgical workplace devices. Factors that will influence average selling prices through the forecast period (2022–2026) include intense competition from low-cost vendors, price pressure on manufacturers, and system upgrades to digital or integrated platforms. However, manufacturers will provide additional services to healthcare facilities as a part of long-term contracts. Those services will include: consultation on workflow management; coordination of production, inventory, location, and transportation in a supply chain; use of data analytics to predict demand and streamline order; and collaboration with hospitals and centers with larger surgery volumes. Author: Bejoy Daniel
More Information
Author Bejoy Daniel
Industries Healthcare
No Index No
Is Prebook No
Podcast No
WIP Number MG8D-01-00-00-00