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The hybrid operating room market share is expected to increase by USD 1.73 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 12.44%.
This hybrid operating room market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers hybrid operating room market segmentation by application (minimally invasive surgery and advanced medical procedures) and geography (North America, Europe, Asia, and Rest of World (ROW)). The hybrid operating room market report also offers information on several market vendors, including ALVO Ltd. Liability Co. Sp. k., Barco NV, Cook Group Inc., Dragerwerk AG and Co. KGaA, General Electric Co., Getinge AB, IMRIS, Deerfield Imaging Inc., Johnson and Johnson Inc., KARL STORZ SE and Co. KG, Koninklijke Philips NV, Mediflex Surgical Products, Mizuho Corp., Novanta Inc., Nuvo Surgical, Siemens AG, SKYTRON LLC, STERIS Plc, Stryker Corp., Toshiba Corp., and TRUMPF GmbH Co. KG among others.
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The increasing adoption of minimally invasive surgical procedures is notably driving the hybrid operating room market growth, although factors such as high costs associated with hybrid operating rooms may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the hybrid operating room industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Hybrid Operating Room Market Driver
One of the key factors driving growth in the hybrid operating room market is the increasing adoption of minimally invasive surgical procedures. The global aging population, along with the rising frequency of arthritis, cancer, and cardiovascular disease, is driving the need for minimally invasive operations, which are linked with fewer risks and minimum procedural stress. This procedure has outstanding medical characteristics such as fewer cuts, smaller incisions, less discomfort, shorter recovery times, and significant cost savings. As a result, the growing number of physician-owned ambulatory surgery centers (ASCs) is fueling market expansion. Furthermore, as the need for automation in hospital processes has increased, surgeons are using robotic-assisted surgeries to simplify procedures and thereby lessen the strain on patients. These factors are fueling the demand for minimally invasive surgical procedures, which, in turn, will have a positive impact on the global hybrid operating room market.
Key Hybrid Operating Room Market Trend
The high costs associated with hybrid operating rooms will be a major challenge for the hybrid operating room market during the forecast period. Fixed imaging systems in hybrid operating rooms enable physicians to execute high-risk minimally invasive endovascular operations with real-time imaging guidance and, if necessary, change instantaneously to open surgical usage. A hybrid operating room typically costs between $3 million and $4 million to build since it may be outfitted with up to 100 different medical gadgets. To prevent radiation exposure, walls must be coated with lead, ceiling supports must be strengthened to handle equipment booms, and positive pressure is necessary for operating room-level sterility. Only a few procedures require a hybrid operating room; thus, the patient group is very small, which further puts pressure on hospitals in terms of return-on-investment (ROI). Thus, due to the high-cost investment required, most hospitals avoid setting up a hybrid operating room, which hinders the market growth.
Key Hybrid Operating Room Market Challenge
The rising adoption of robot-assisted surgeries is another factor supporting the hybrid operating room market share growth. Robotic surgery is the future in healthcare has finally begun to take form. Even though it has been around for almost 20 years, this technology is still in its infancy in terms of adoption. However, as new med-tech suppliers join the market and new technology allows for enhanced robotic surgery advancements, the sector looks to be on the cusp of a drastic transformation. Several mergers and acquisitions have also occurred in order to remain competitive in the industry. Advanced robotic systems provide surgeons more control and vision during surgery, allowing them to execute safer, less invasive, and more precise surgeries. The surgeon can watch the procedure better than ever before by seeing a high-resolution 3D picture on the console. Computer software can conduct extremely accurate motions in place of human hand movements. It boosts the success rate of procedures with precise motions, hence boosting the growth of robot-assisted surgeries. These factors will fuel the demand for hybrid operating rooms, which will drive the market growth.
This hybrid operating room market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global hybrid operating room market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the hybrid operating room market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the hybrid operating room market encompasses successful business strategies deployed by the key vendors. The hybrid operating room market is concentrated and the vendors are deploying growth strategies such as pricing and marketing strategies to retain their existing market share to compete in the market.
getinge.com -
The company offers hybrid operating room products such as Hybrid OR.
Acute care therapies - This segment offers a wide range of solutions for life support in acute health conditions, as well as respirators for mobile ventilation.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The hybrid operating room market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the hybrid operating room market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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39% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for hybrid operating rooms in North America. Market growth in this region will be slower than the growth of the market in the European and Asian regions.
In 2021, with the increase in the patient population for chronic diseases, coupled with the rapidly growing geriatric population, this has led to the rising awareness about advanced medical imaging technologies in the healthcare sector. This will facilitate the hybrid operating room market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, with the outbreak of COVID-19. The governments of several countries in the region imposed nationwide lockdowns, which limited the movement of people. The evolving nature of the COVID-19 pandemic and its high infectivity rate among health workers led to the adoption of crucial measures to reduce the risk of infection. Such factors impacted the growth of the market in the region. However, as of early 2021, the number of COVID-19 cases decreased due to active vaccination drives. Lockdown restrictions have been removed, and non-essential medical services have again picked up their pace. Thus, the regional hybrid operating room market will witness growth during the forecast period.
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The hybrid operating room market share growth by the minimally invasive surgery segment will be significant during the forecast period. In minimally invasive surgery, often known as keyhole surgery, surgeons utilize a range of techniques to operate with less harm to the body than in open surgery. Minimally invasive surgery is connected with reduced discomfort, a shorter hospital stay, and fewer problems in general.
This report provides an accurate prediction of the contribution of all the segments to the growth of the hybrid operating room market size and actionable market insights on post COVID-19 impact on each segment.
Operating Room Integrated Systems market - The market size has the potential to grow by USD 1.12 billion during 2020-2024, and the market's growth momentum will accelerate during the forecast period.
Hybrid Operating Room Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 12.44% |
Market growth 2022-2026 |
$ 1.73 billion |
Market structure |
Concentrated |
YoY growth (%) |
12.24 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 39% |
Key consumer countries |
US, Canada, Switzerland, Norway, Sweden, and Japan |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
ALVO Ltd. Liability Co. Sp. k., Barco NV, Cook Group Inc., Dragerwerk AG and Co. KGaA, General Electric Co., Getinge AB, IMRIS, Deerfield Imaging Inc., Johnson and Johnson Inc., KARL STORZ SE and Co. KG, Koninklijke Philips NV, Mediflex Surgical Products, Mizuho Corp., Novanta Inc., Nuvo Surgical, Siemens AG, SKYTRON LLC, STERIS Plc, Stryker Corp., Toshiba Corp., and TRUMPF GmbH Co. KG |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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