Hybrid Operating Room Market
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
Global Hybrid Operating Room Market - Snapshot
The global market for hybrid operating rooms is gaining tremendously from the significant rise in technological advancements, especially in emerging economies. The prominent increase in the adoption of robotic surgeries in a number of countries, such as Japan, China, Taiwan, and Korea has been adding remarkably to the growth of this market. The augmenting investment for research and development by several end-use industries, such as the medical and healthcare and the government sectors, is also supporting this market across the world.
Going forward, the global market is expected to maintain its high growth pace in the near future, thanks to the presence of favorable government norms and policies, increasing preference for minimally invasive surgeries, and the massive investments for the development of novel technologies that can help in improving healthcare systems for patients. The market’s opportunity is anticipated to reach US$661.8 mn by 2017. It is further expected to proliferate at a CAGR of 4.60% between 2017 and 2022, increasing to US$828.1 bn by the end of 2022.
Overall, the future of this market looks bright; however, several challenges, such as, the high cost and complexity of the deployment of hybrid operating room equipment, may affect this market adversely in the years to come.
Intraoperative Diagnostic Imaging Systems to Continue Reporting Strong Demand
In general, the global hybrid operating room market is evaluated on the basis of the type of the component, end user, and the application. Based on the type of the component, the market is categorized into intraoperative diagnostic imaging systems, surgical instruments, operating room fixtures, and audiovisual display systems and tools. Intraoperative diagnostic imaging systems report a comparatively higher demand than other components of a hybrid operating room across the world. This trend is expected to continue over the next few years.
Based on the end user, the market is classified into hospitals and ambulatory surgical centers (ASCs). By the application, the market is divided into cardiovascular, neurosurgical, thoracic, and orthopedic disease treatments.
North America to Lead Global Hybrid Operating Rooms Market in Near Future
The Middle East and Africa (MEA), North America, Europe, Latin America, Asia Pacific (APEJ), and Japan are the prime regional markets for hybrid operating rooms across the world. Among these, North America has emerged as the key contributor to the global market for hybrid operating rooms, thanks to the presence of advanced medical and healthcare infrastructure in North American countries, especially in the U.S. and Canada. Researchers expect the North America market for hybrid operating rooms to maintain its leadership over the next few years on account of the increasing investments by hospitals for the upgradation of their operating rooms. The augmenting number of ambulatory surgery centers and escalating need for surgical procedures are also expected to add to this regional market over the forthcoming years.
Among the other regional markets for hybrid operating rooms, the APEJ region is projected to demonstrate a steady rise over the forthcoming years, owing to the advancements in technology and medical and healthcare infrastructure, together with the surging disposable income of people in this region. The APEJ market for hybrid operating rooms is predicted to expand at a CAGR of 5.10% over the period from 2017 and 2022.
Toshiba Corp., Trumpf Medical, IMRIS Inc., Eschmann Equipment, Stryker Corp., MAQUET GmbH, Skytron LLC, Koninklijke Philips N.V., Siemens Healthineers, and GE Healthcare are some the leading players functioning in the global operating room market.
Hybrid Operating Room Market to Focus on Cerebrovascular Diseases
Growing demand for advanced operating rooms technologies to meet the proposition of robotic surgeries is a key trend in the healthcare industries. Robotic platforms have emerged as a new value-generating proposition for high-quality surgical outcomes in various medical specialties. The hybrid OR market has also been leveraging new revenue potential from the growing adoption of intraoperative diagnostic imaging systems in hospitals. Hybrid operating rooms (ORs) have been exhibiting vast clinical potential in in cerebrovascular surgeries. Hybrid ORs are being integrated with high-end digital subtraction angiography (DSA) systems. This has become clinically significant due to the growing demand for ORs that can meet the combined demand for surgical and endovascular procedures. A case in point where hybrid ORs enabled surgeons to unlock new paradigm is in harnessing the system for intraoperative angiographic evaluation before cerebrovascular procedures. Players in the hybrid OR market are expected to make some remarkable technological innovations on the back of constant urge to meet the complex needs of treatment of neurovascular diseases. Worldwide, hybrid procedures show an incredible potential in hybrid OR market in improving the outcomes in some neurovascular diseases, with the help of digital subtraction angiography (DSA) systems.
Developed nations are expending huge sums on equipping healthcare providers with new technological modalities for hybrid ORs. The Covid-19 pandemic has had wide-ranging repercussions on the patient care technologies in 2020 in hybrid OR market. This has led to several new paradigms in the health care. The whole ecosystem comprising mainly of providers, patients, and payers has also seen growing interest of new business models and digital technologies being part of quality patient care in the hybrid OR market. This will also spur research on the clinical potential of robotics when integrated with hybrid ORs. Thus, the hybrid OR market may see new technology marvels and regulations stimulating the adoption of disruptive technologies to reduce the burden of neurovascular diseases world over.
Operating Room (OR) Management Market Witness Adoption of New Safety Protocols due to COVID-19 Pandemic
The COVID-19 pandemic has made drastic changes in the way patient care and medical procedures are managed in different healthcare settings. The pandemic-led trauma gave rise to unprecedented situations for frontline workers and healthcare workers in countries around the world, also opening new set of challenges in the operating room (OR) management market. While a large part of the healthcare fraternity worked on war-footing pace to contain the pandemic, there were surge in rate of emergency procedures involving patients who are COVID-19 positive. Given the highly contagious nature of the SARS-CoV-2 along with its high viral load has mandated the implementation of new safety protocols in the OR management market. Most impacted are perhaps the intensive care units, where high-end safety measures are taken. Growing demand for new technologies that will help healthcare staff and surgeons meet infection control measures expand the avenue in the operating room (OR) management market.
The OR management market has seen a vast revenue stream for manufacturers of healthcare robotic platforms. This might be the novel method of ascertaining the implementation of evolving safety protocols in various medical specialties. Growing demand for a comprehensive control systems that will enable hospitals to optimize their resources is a key trend that has opened new avenues in the market. Rise in hospitalization due to planned surgeries in developing economies has also alerted OR management players to adopt systems to this end. New OT management systems have attracted the attention of researchers, as a result of which there have seen some critical studies on understanding the multiple aspects of OR management. The growing urge to integrate OR with automated technology might also spur new studies in the OR management market. Patient safety and surgical outcomes are the key value propositions for medical technology companies catering to the needs of OR managers.
Global Hybrid Operating Room Market: Overview
The global market for hybrid operating room is witnessing a substantial rise in its valuation, thanks to the technological advancements in the field of operating room equipment. With the increasing government support, the market is expected to continue to rise at a high growth rate in the near future. A comprehensive assessment of the global market for hybrid operating rooms has been offered in this research study that intends to present detailed information with deep insights into this market to readers in a bid to assist them in gaining a better understanding of it.
Global Hybrid Operating Room Market: Scope of the Study
The report estimates and forecasts the worldwide hybrid operating room market on the global as well as the regional levels. It consists of a comprehensive analysis of the value chain for each of the segments. The assessment of the value chain also offers an in-depth information about the value addition to the market at each of the stages. Further, the study discusses the drivers and the restraints of this market, coupled with their impact on the demand for hybrid operating room equipment during the period from 2017 to 2022.
The report also discusses the key market indicators, which impact the growth of the global hybrid operating room market considerably. It assesses the opportunities in this market by examining the market trends thoroughly. The drivers, limitations, opportunities, and the scope mentioned in the report have been justified by utilizing quantitative and qualitative data and have been verified by the primary and secondary resources. Moreover, an analysis of the average price trends and the substitutes have also been presented in this research study.
Global Hybrid Operating Room Market: Segmentation
The research study provides a comprehensive overview of the worldwide market for hybrid operating room by evaluating it on the basis of the type of the component, end user, application, and the regional spread. Based on the type of the component, the market has been categorized into surgical instruments, operating room fixtures, intraoperative diagnostic imaging systems, and audiovisual display systems and tools. Based on the end user, the market has been divided into hospitals and ambulatory surgical centers (ASCs).
By the application, the market has been segmented into cardiovascular, neurosurgical, thoracic, and orthopedic disease treatments. In terms of the geography, the market is classified into Asia Pacific excluding Japan (APEJ), the Middle East and Africa (MEA), Europe, Latin America, North America, and Japan. These market segments have been evaluated on the basis of their current, historical, and future trends.
Global Hybrid Operating Room Market: Competitive Analysis
The research report includes a thorough competitive analysis of the global hybrid operating room market, taking the profiles of the leading players and their market shares in consideration. The leading players profiled in this report are Toshiba Corp., Trumpf Medical, IMRIS Inc., Eschmann Equipment, Stryker Corp., MAQUET GmbH, Skytron LLC, Koninklijke Philips N.V., Siemens Healthineers, and GE Healthcare. The product literature, annual reports, press releases, and relevant documents of these players have been reviewed for a better understanding of the competitive scenarios of this market. The company profile includes a number of attributes, such as the overview of the firm and its business, brand, and finances. The business strategies, recent developments, key competitors, and the number of employees have also been discussed in this section of the report.