A new research report by Transparency Market Research (TMR) states that the global hybrid operating rooms market is primarily characterized by innovations and technological advancements. The most prominent trend in this market is the strategic alliances among multinational players and regional and small-scale OEMs.
As per the research study, the opportunity in the worldwide market for hybrid operating rooms is estimated to US$661.8 mn by 2017. Further, it is anticipated to rise at a CAGR of 4.60% during the period from 2017 to 2022 and attain a value of US$828.1 bn by the end of the forecast period. “The global market is highly driven by the continual technological advancements in this field, especially in developing economies,” says an analyst at TMR. The high adoption rate of robotic surgeries in various Asian countries, such as China, Taiwan, Japan, and Korea, has also been supporting the growth of this market considerably.
Apart from this, the market is expected to gain from the surge in the investment and the government support for research and development activities in the near future. However, the high cost associated with the installation of hybrid operating room equipment may hamper the market’s growth over the next few years. Nonetheless, the augmenting preference for minimally invasive surgeries among patients, presence of favorable norms and policies, and the rising investments for the development of new technologies, in order to improve healthcare for patients, will maintain the high growth pace of this market in the years to come, states the research report.
The Middle East and Africa (MEA), Latin America, North America, Europe, Asia Pacific excluding Japan (APEJ), and Japan have surfaced as the main regional markets for hybrid operating rooms across the world. Of these, North America is the leading contributor to the global market, owing to the presence of advanced medical and healthcare infrastructure in this region, especially in Canada and the U.S.
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The leading players in this market, such as Toshiba, Trumpf Medical, IMRIS, Eschmann Equipment, Stryker, MAQUET, Skytron, Philips, Siemens Healthineers, and GE Healthcare, are increasingly engaging into partnerships and mergers and acquisitions in a bid to strengthen their presence in the global market. Over the forthcoming years, the market is projected to experience intensified rivalry between the key companies, competing with each other on the basis of price differentiation and innovation in products, notes the market study.