Hybrid Operating Room Market to Garner $1.80 Bn, Globally, by 2026 at 11.7% CAGR, Says Allied Market Research

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Jan 27, 2020, 09:10 ET

PORTLAND, Oregon, Jan. 27, 2020 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Hybrid Operating Room Market by Product (Intraoperative Diagnostic System, Operating Room Fixtures, Communication Systems, and Others) and Application (Cardiovascular Surgery, Neurosurgery, Thoracic Surgery, Orthopedic Surgeries, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026". According to the report, the global hybrid operating room industry was pegged at $744.1 million in 2018 and is projected to reach $1.80 billion by 2026, registering a CAGR of 11.7% from 2019 to 2026.

Incentives for market growth

Rise in number of surgical procedures, surge in patient preference for minimally invasive surgeries, and surge in regulatory approvals have boosted the growth of the global hybrid operating room market. However, the high cost associated with the hybrid operating room hampers the market growth. On the contrary, untapped potential in developing countries is expected to create lucrative opportunities in the near future.

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Intraoperative diagnostic system segment dominated the market

By product, the intraoperative diagnostic system segment held the largest share in 2018, contributing to more than half of the global hybrid operating room market. This is due to increased use by surgeons in neurosurgery applications for removing brain tumor and interventional neurovascular procedures. Moreover, it is used to guide the localization and delineation of regions of surgical interest, which boosted the growth of the segment. However, the communication systems segment is expected to register the fastest CAGR of 13.7% during the forecast period, owing to rise in demand for communication systems in hybrid operating room, increase in awareness and availability of these systems, surge in acceptance of minimally invasive surgical procedures, technological advancements in communication systems, and increase in incidence & prevalence of neurosurgical, and orthopedic procedures.

Neurosurgery segment to manifest the fastest CAGR by 2026

The neurosurgery segment is expected to portray the fastest CAGR of 13.2% during the study period, owing to rise in number of neurological disorders patients, surge in number of minimally invasive neurovascular surgeries, and rapid technological advancements in the field of medical robotics. However, the cardiovascular surgery segment held the largest share in 2018, accounting for nearly two-fifths of the global hybrid operating room market, owing to rise in preference of heart surgeons for hybrid operating room settings during target surgical procedures, surge in adoption of endovascular procedures during cardiovascular surgery, poor nutrition rise in incidence & prevalence of cardiovascular diseases, surge in demand for minimally invasive surgery, and increase in number of patients suffering from obesity.

North America held the lion's share

The global hybrid operating room market across North America held the largest share in 2018, contributing to nearly three-fifths of the market, owing to technological advanced hybrid operating room equipment, increase in number of hospitals and ambulatory surgery centers in the U.S., and rise in a geriatric population. However, the market across Asia-Pacific region is expected to manifest the fastest CAGR of 14.2% during the forecast period, owing to improvement in healthcare infrastructure, rise in number of hospitals equipped with advanced medical facilities, the developing R&D sector, rise in healthcare reforms, technological advancements in hybrid operating room settings.

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Major market players

Alvo Medical
Getinge AB (MAQUET Holding B.V. & Co. KG)
GE Healthcare
IMRIS Inc.
Hill-Rom Holdings, Inc. (Trumpf Medical System, Inc.)
Mizuho Corporation
Koninklijke Philips N.V.
Stryker Corporation
Siemens AG
Toshiba Corporation (Canon Medical Systems Corporation)

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