Some of the prominent participants in the global hybrid operating room market are Trumpf Medical, Toshiba, IMRIS, Eschmann Equipment, Skytron, Stryker, MAQUET, Philips, GE Healthcare, and Siemens Healthineers. In order to steal a march over their competitors, such players are banking upon mergers and acquisitions and partnerships which will enable them to tap into larger resources, diversify products, and access markets in various corners of the world.
A report by Transparency Market Research predicts the global market for hybrid operating room to witness intense competition in the years ahead with players trying to outgun one another on the basis of product differentiation and competitive prices.
As per the TMR report, the global market for hybrid operating room will likely rise at a steady CAGR of 4.60% from 2017 to 2022, to become worth US$828.1 bn by the end of 2022 from US$661.8 mn by 2017.
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Component-wise, key segments of the global market for hybrid operating room are operating room fixtures, surgical instruments, intraoperative diagnostic imaging systems, and audiovisual display systems and tools. Among them, the segment of intraoperative diagnostic imaging systems are witnessing significant demand – a trend that is expected to continue in the near future.
Geographically, some of the key regions of the market for hybrid operating room studied in the report are North America, Latin America, Europe, Asia Pacific excluding Japan, Japan, and the Middle East and Africa. North America, of them, is a key contributor to the market. The market in North America is powered by the U.S. and Canada. In the near future too, the market is predicted to hold on to its leading share on the back of growing initiatives by hospitals to upgrade their operating rooms, the increasing number of ambulatory surgery centers, and rising requirement for various surgical procedures.
At the forefront of driving the global market for hybrid operating room is the continuous technological progress in the domain. Leading players are seen pouring money into creating more sophisticated equipment, which in turn is driving demand.
Besides, swift uptake of robotic surgeries in Asian nations of Japan, Korea, China, and Taiwan are also catalyzing growth in the market, along with continued upgrading of operating rooms, particularly in developed regions.
Further serving to boost the market for hybrid operating room is the increasing allocations by the healthcare sector and government support towards research and development of novel equipment.
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Dealing a blow to demand for hybrid operating rooms, on the other hand, is the high cost of installation of the equipment. Complexity of the installation process is also proving to be a restraint. However, helping to overcome the obstacle is the rising preference for minimally invasive surgeries among patients, supportive policies, and increasing investments for development of new technologies.
The most prominent trend in this market is the strategic alliances among multinational players and regional and small-scale OEMs.