Image: The global hybrid OR market is expected to grow to USD 1,174.9 million by 2022 (Photo courtesy of iStock).
The global hybrid operating room (OR) market is expected to grow at a CAGR of 12.5% from USD 652.0 million in 2017 to USD 1,174.9 million by 2022, driven by technological advancements in robot-assisted surgeries, increasing minimally invasive surgeries, and growing patient preference for affordable & effective surgical treatments. However, high establishment costs and procedural risks for patients associated with hybrid ORs are expected to limit the market growth during 2017 to 2022.
These are the latest findings of MarketsandMarkets (Seattle, WA, USA), a global market research company. Based on component, the intraoperative diagnostic imaging systems segment is expected to record the highest CAGR during the forecast period, led by significant installation costs for diagnostic imaging products, increasing installation of hybrid ORs across the major countries, ongoing integration and automation of OR workflows, and continuous technological advancements in diagnostic imaging.
Based on application, the thoracic segment is expected to record the fastest growth during the forecast period, driven by increasing thoracic surgeries performed globally, and rising awareness among healthcare professionals about the cost & therapeutic efficacy offered by hybrid ORs.
Based on end-user, the hospitals and surgical centers segment held the largest share of the global hybrid OR market in 2016, owing to growing patient emphasis on timely and effective disease management, increasing diagnostic and surgical procedures performed in hospitals, and growing number of hospitals and surgical centers being established in the developing countries, such as India, China, and South Africa.
Based on region, North America held the largest share of the global hybrid OR market in 2016, due to significant investments by hospitals for upgrading their ORs, and increasing number of surgical procedures and ambulatory surgery centers in the region. However, Asia-Pacific is expected to register the highest growth during the forecast period, due to the rapid increase in healthcare expenditure of the region’s emerging countries, such as China and India, which will support the adoption of advanced surgical & diagnostic technologies in their healthcare systems.