Hybrid Operating Room Market to Garner $1.80 Bn, Globally, by 2026 at 11.7% CAGR, Says Allied Market Research

Rise in number of surgical procedures, surge in patient preference for minimally invasive surgeries, and surge in regulatory approvals have boosted the growth of the global hybrid operating room market.

PORTLAND, Oregon, Jan. 27, 2020 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Hybrid Operating Room Market 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". According to the report, the global hybrid operating room industry was pegged at $744.1 million in 2018 and is projected to reach $1.80 billion by 2026, registering a CAGR of 11.7% from 2019 to 2026.

Incentives for market growth

Rise in number of surgical procedures, surge in patient preference for minimally invasive surgeries, and surge in regulatory approvals have boosted the growth of the global hybrid operating room market. However, the high cost associated with the hybrid operating room hampers the market growth. On the contrary, untapped potential in developing countries is expected to create lucrative opportunities in the near future.

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Intraoperative diagnostic system segment dominated the market

By product, the intraoperative diagnostic system segment held the largest share in 2018, contributing to more than half of the global hybrid operating room market. This is due to increased use by surgeons in neurosurgery applications for removing brain tumor and interventional neurovascular procedures. Moreover, it is used to guide the localization and delineation of regions of surgical interest, which boosted the growth of the segment. However, the communication systems segment is expected to register the fastest CAGR of 13.7% during the forecast period, owing to rise in demand for communication systems in hybrid operating room, increase in awareness and availability of these systems, surge in acceptance of minimally invasive surgical procedures, technological advancements in communication systems, and increase in incidence & prevalence of neurosurgical, and orthopedic procedures.