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2020

Hybrid Operating Room Market

Hybrid Operating Room Market Size, Share, Competitive Landscape and Trend Analysis Report 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

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Author's: Sayali Shinde | Roshan Deshmukh
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The hybrid operating room market was valued at $744 million in 2018, and is estimated to reach at $1,804 million by 2026, registering a CAGR of 11.7% from 2019 to 2026.

Hybrid operating room is a surgical theatre/space equipped with medical imaging devices such as CT scanners, or MRI scanners, and fix C-arms. It supports complex open & minimally invasive surgeries as well as high-quality interventional imaging procedures. In addition, it is primarily used in neurosurgeries, cardiovascular surgeries, thoracic surgeries, and orthopedic surgeries. Moreover, it is suitable for other treatments such as laparoscopic surgery, biopsy, and trauma surgery.

Hybrid Operating Room Market 2019-2026

Increase in number of surgical procedures; rise in adoption of minimally invasive surgeries; technological advancements in hybrid operating room equipment; and rise in number of orthopedic, thoracic, cardiovascular, and neurological disorder patients are the major factors that drive the growth of the global hybrid operating room market. In addition, rise in number of hospitals and ambulatory surgery centers, increase in patient preference for effective & affordable surgical treatment, and surge in investment in hybrid OR equipment are other factors that contribute toward the growth of the market. In addition, improved patient outcomes with less invasive procedures is other factor expected to propel growth of the market. However, procedural risks associated with hybrid operating room and high installation & operational cost are expected to restrain the growth of the market.

HYBRID OPERATING ROOM MARKET SEGMENTATION

The global hybrid operating room market is segmented into product, application, and region. By product, the market is categorized into intraoperative diagnostic system, operating room fixtures, communication systems, and others. Intraoperative diagnostic system is subsegmented into magnetic resonance imaging (MRI), computed tomography (CT), angiography systems, and others. The operating room fixtures segment is further divided into operating tables, operating room lights, and surgical booms. The applications covered in the study include cardiovascular surgery, neurosurgery, thoracic surgery, orthopedic surgeries, and other surgery. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Segment review

By product, the market is divided into intraoperative diagnostic system, operating room fixtures, communication systems, and others. At present, the intraoperative diagnostic system segment is the major revenue contributor, and is projected to grow significantly during the forecast period, as these systems are widely used in minimally invasive surgery (MIS) procedures, and provide functional guidance to anesthesiologist and surgeon. Some key factors such as surge in prevalence of chronic diseases coupled with changing lifestyle, surge in demand for innovative & hybrid operating room equipment, and technological advancements in intraoperative diagnostic systems are majorly driving the growth of this segment.

Hybrid Operating Room Market
By Product
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Intraoperative Diagnostic System is projected as one of the most lucrative segment.

Depending on application, the global hybrid operating room market is segregated into cardiovascular surgery, neurosurgery, thoracic surgery, orthopedic surgeries, and others. The cardiovascular surgery segment is the major shareholder in the global hybrid operating room market share, owing to rise in incidence & prevalence of cardiovascular diseases, surge in adoption of endovascular procedures during cardiovascular surgeries, and rise in demand for minimally invasive surgeries.

Hybrid Operating Room Market
By Application
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Cardiovascular Surgery holds a dominant position in 2018 and would continue to maintain the lead over the forecast period.

Snapshot of Asia-Pacific hybrid operating room market

Asia-Pacific presents lucrative opportunities for the key players operating in the hybrid operating room market, due to increase in awareness toward benefits offered by hybrid operating room, rise in number of hospitals equipped with advanced medical facilities, development of the R&D sector, rise in healthcare reforms, and technological advancements in hybrid operating room settings. Moreover, rise in demand for hybrid operating room, presence of high population base, and upsurge in disposable incomes contribute toward the growth of the market. Moreover, surge in focus of leading manufacturers on expanding their geographic presence in emerging Asia-Pacific countries to capture high market share is expected to drive the growth of the hybrid operating room market in the region.

Hybrid Operating Room Market
By Region
2026
North America 
Europe
Asia-Pacific
LAMEA

Asia-Pacific region would exhibit the highest CAGR of 14.2% during 2019-2026.

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

Key Benefits for Hybrid Operating Room Market:

  • The study provides an in-depth analysis of the hybrid operating room market size along with the current trends and future estimations to elucidate the imminent investment pockets.
  • It offers hybrid operating room market analysis from 2018 to 2026, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market.
  • A comprehensive analysis of four regions is provided to determine the prevailing opportunities.
  • The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook and global hybrid operating room market growth.

Hybrid Operating Room Market Report Highlights

Aspects Details
Hybrid Operating Room Market By Product
By Product
  • Intraoperative Diagnostic System
    • Magnetic Resonance Imaging (MRI)
    • Computed tomography (CT)
    • Angiography Systems
    • Others
  • Operating Room Fixtures
    • Operating Tables
    • Operating Room Lights
    • Surgical Booms
  • Communication Systems
  • Others
Hybrid Operating Room Market By Application
By Application
  • Cardiovascular Surgery
  • Neurosurgery
  • Thoracic Surgery
  • Orthopedic Surgeries
  • Other Surgery
Hybrid Operating Room Market By Region
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, UK, Italy, Spain, Rest of Europe)
  • Asia-Pacific  (Japan, China, Australia, India, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
Key Market Players
Key Market Players

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

Analyst Review

Hybrid operating room (OR) is a surgical theatre equipped with medical imaging devices that supports complex open & minimally invasive surgeries and high-quality interventional imaging. Hybrid operating rooms are used majorly for cardiovascular surgeries, neurosurgeries, orthopedic surgeries, and thoracic surgeries. In addition, these rooms are suitable for other treatments such as biopsy, laparoscopic surgery, urological surgeries, and pediatric surgeries.

The growth of the global hybrid operating room market is driven by increase in adoption of minimally invasive surgeries by physicians; surge in patient preference for effective & affordable surgical treatment; and rise in number of patients undergoing cardiovascular, orthopedic, thoracic, and neurological surgeries. Moreover, surge in investment in hybrid OR equipment, rise in number of hospitals, and growth in regulatory approvals for different hybrid operating equipment boost the market growth. However, high installation & operational cost and procedural risks associated with hybrid operating room retrain the market growth.

North America is expected to remain dominant during the forecast period due to technological advancements in hybrid operating room equipment and rise in number of hospitals & ambulatory surgery centers. Conversely, Asia-Pacific is expected to offer lucrative opportunities to the key players during the forecast period, due to development in the R&D and healthcare sectors along with rise in demand for hybrid operating room equipment.

Author Name(s) : Sayali Shinde | Roshan Deshmukh

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Hybrid Operating Room Market

Global Opportunity Analysis and Industry Forecast, 2019-2026