Comprehensive Hybrid Operating Room Market Analysis: Size, Share, Trends, and CAGR 11.50% Forecast for 2022-2027
The Hybrid Operating Room Market is projected to grow at a CAGR of around 11.50% during the forecast period, i.e., 2022-27. This detailed analysis offers valuable insights into the key growth drivers, geographical dynamics, and emerging trends that are poised to shape the market's trajectory in the coming years.
The market is driven by the rising patient inflow and immense pressure on the healthcare sector to address the medical needs of these patients, instigating the governments of different countries to strengthen the healthcare infrastructure and make substantial investments in the set of hybrid operating rooms. Besides, an escalation in the number of surgical procedures & mounting adoption of minimally invasive surgeries is also driving the market revenue.
In addition to this, the growing number of ambulatory surgical centers & hospitals globally across the world to facilitate the high patient inflow while offering more affordable & effective surgical treatment are the other aspects stimulating the demand for hybrid ORs. The same aspect is also generating lucrative opportunities for the leading players to increase their service offerings for the establishment of these ORs and catering to the mounting demands globally, leading the market toward significant expansion.
Moreover, Hybrid Operating Rooms are gaining traction on the back of constant advancements in surgical technologies & laparoscopic surgeries & procedures, alongside comprehensive surgical theaters that suit difficult surgical procedures. Such aspects require patients to undergo more than one surgery under anesthesia, where these hybrid ORs are a flexible approach due to their design & multi-disciplinary resources.
These ORs are also capable of performing minimally invasive procedures like Endovascular Aneurysm Repair (EVAR) & Trans-catheter Aortic Valve Replacement (TAVR), which further widens its user base in the healthcare facilities, demonstrating a positive effect on the overall market growth through 2027. Furthermore, additional perks like a smooth conversion from a minimally invasive surgery space into the open procedure in one capacity alongside the advent of new procedures to address patients with complex diseases are also propelling the demand for hybrid ORs, allowing surgeons to work more efficiently & deliver best outcomes to the patients.
Nonetheless, the governments of different countries alongside private companies are making substantial investments in the healthcare sector. This funding is majorly to set up such ORs on the grounds of other benefits like a minimal risk to patient safety & well-being and allowing professionals to perform complex procedures with ease. In this way, addressing a larger patient inflow is much more convenient while allowing patients to have a shorter recovery time.
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Key Takeaways from the Market Study:
· Historical Data: 2017-20
· Base Year: 2021
· Forecast Period: 2022-27
· CAGR (2022-2027): 11.50%
· Key Players to Watch: Alvo, General Electric Company, Getinge AB, Hill-Rom Holdings, Inc, IMRIS, Mizuho Corporation, Medical Illumination, NDS Surgical Imaging, Koninklijke Philips N.V., STERIS plc, Stryker Corporation, Siemens AG, Skytron LLC, Canon Inc., Siemens AG are expected to play a pivotal role in driving market growth through strategic investments, partnerships, and innovation.
Latest News in the Hybrid Operating Room Industry:
- In June 2021, renowned player, Getinge announced its release of an Artificial Intelligence-based OR management system called Torin in the US to improve hospital efficiency & manage schedules for surgical procedures.
- Back in September 2020, WakeMed partnered for a decade with prominent player Siemens Healthineers to present itself as a hub for new initiatives in the existing imaging & cardiovascular programs. WakeMed shall use advanced robotics & imaging equipment for cardiovascular care in a world-class hybrid operating room.
- In 2017, another prominent player, Stryker, launched a program called "OR of the Future" for the endoscopy division, which uses holographic technology & allows customers to visualize the surgical equipment & displays that operate in ORs.
Market Segmentation of Hybrid Operating Room Industry
The Hybrid Operating Room market is segmented as follows:
- By Component
- Intraoperative Diagnostic Imaging Systems
- Angiography Systems
- MRI Systems
- CT Scanners
- Others
- Operating Room Fixtures
- Operating Tables
- Operating Room Lights
- Surgical Booms
- Radiation Shields
- Surgical Instruments
- Audiovisual Display Systems and Tools
- Others
- By Application
- Cardiovascular
- Neurosurgical
- Thoracic
- Orthopedic
- Others
- By End User
- Hospitals and Surgical Centers
- Ambulatory Surgical Centers
According to report, the rechargeable segment holds a larger share of the Global Hybrid Operating Room Market mainly due to their lower costs.
According to reports, offline retail holds the largest market share.
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Hybrid Operating Room Market Geographical Analysis
North America
South America
Europe
Middle East & Africa
Asia-Pacific
According to reports, North America holds a prominent share of the Hybrid Operating Room Market
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