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. However, a dearth of skilled surgeons in integrated operating rooms and the high prices and maintenance costs of ORM software are expected to hinder the market growth.
The pandemic has led to a temporary ban on elective surgeries across the globe, which resulted in cancellations of elective surgeries worldwide. According to a report published by researchers of CovidSurg Collaborative, around 28 million surgeries were canceled across the globe during 12 weeks of peak disruption during the COVID-19 pandemic.
To handle the increased surgical volumes, hospitals are increasing OR hours and focusing on better utilization of OR. The COVID-19 will positively impact the ORM software market. It will increase the adoption rate of ORM software as most hospitals will now focus on increasing capacity by using technology to improve efficiency.
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, the rising geriatric population, and the increasing incidence of chronic disorders.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=175407912
Operating rooms or ORs account for 40% of the total hospital expenses and constitute ~70% of the total revenue generated. Thus, the effective management of operating rooms by consolidating and organizing all patient data for the surgical staff during a procedure and streamlining information across multiple platforms is regarded as one of the key areas for reducing healthcare costs.
Additionally, the maintenance of high-end IT-enabled systems typically costs more than the software itself. The annual maintenance cost is estimated to be 20-25% of the initial cost of the software licenses. Subsequently, it can be expected that the high costs incurred from the purchase, installation, maintenance, and upgrade of ORM software and solutions may negatively affect their overall adoption among end-users, thus restraining market growth to a certain extent.
Owing to the expansion of the patient population base, the number of hospitals and surgical centers is also expected to increase in emerging countries in the coming years. Also, currently, governments in these countries are undertaking initiatives to expand and modernize their respective healthcare infrastructures.
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.