ALBANY, New York, Feb. 14, 2019 /PRNewswire/ --
According to the report, the global hybrid operating room market is estimated to rise at a steady CAGR of 4.60% over the projected period between 2017 and 2022. During this period, the market is expected to attain a valuation of US$828.1 bn by 2022 end progressing from US$661.8 earned in 2017.
Based on component type, the demand for intraoperative diagnostic imaging systems is expected to rise at a significant rate during the forecast period. The prominent growth of this segment can be attributed to increasing installation of hybrid operating rooms in various regions and ongoing integration and automation of OR workflows. With respect to geography, sizeable demand for hybrid operating room is seen in North America due to the presence of advanced medical and healthcare infrastructure in this region. Asia Pacific excluding Japan (APEJ) is also anticipated to show substantial demand for hybrid operating rooms.
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Rising Application in Various End-Use Industries to Boost Market Demand
The rise in demand for hybrid operating rooms can be considered on account of rising number of neurological disorder patients, growing demand for minimally invasive neurovascular surgeries, and rapid growth in technological advancements especially in the field of medical robotics. In addition, hybrid operating rooms are now used for providing treatment in thoracic, neurological, orthopedic, and cardiovascular diseases. Inclusions of robot-assisted surgeries and rising patient preference for effective and affordable surgical treatment have intensified the demand for hybrid operating rooms.
Adding further to the various growth factors is the increasing government support for research and development activities and installation of novel equipment in healthcare setup. This has not only aggravated demand in this market but has also created new growth prospects.
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Complicated Procedures during Installation of Hybrid Operating Equipment to Hamper Growth
High cost involved in the installation and deployment of hybrid operating rooms is a key restraining factor that might deter its demand in near future. In addition, complicated procedures while installing hybrid operating equipment have further created a challenge that might hamper the growth of the hybrid operating room market. However, the rising application of hybrid operating equipment might assist in minimizing the effect of these restraints and accelerate the demand in this market. Moreover, supportive government policies and rising investment in the development of new technologies are projected to create new frontiers in the global hybrid operating room market.
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The global hybrid operating room market is likely to experience high growth in the coming years, states Transparency Market Research in its recent report. Key players in the market are engaged in expanding their business by using advanced strategies. In addition, to get an upper hand in the market, these players are also involved in partnership, collaborations, mergers, and innovations. All these strategies will assist players to hold a significant share in the market and increase their presence in different geographies. Product differentiation is also one of the key strategies used by these players. Some of the prominent players have been analyzed in the report are Trumpf Medical, GE Healthcare, Eschmann Equipment, Philips, Skytron, Stryker, and Siemens Healthineers.
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The information presented in this review is based on a Transparency Market Research (TMR) report, titled "Hybrid Operating Room Market (Component Type - Intraoperative Diagnostic Imaging Systems, Operating Room Fixtures, Surgical Instruments, and Audiovisual Display Systems and Tools; End User - Hospitals and Ambulatory Surgical Centers (ASCs); Application - Cardiovascular, Neurosurgical, Thoracic, and Orthopedic) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2022."
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