Portland, OR, March 10, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the hybrid operating room market accounted for $744.1 million in 2018 and is anticipated to garner $1.80 billion by 2026, growing at a CAGR of 11.7% from 2019 to 2026.
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Increase in number of surgical procedures, surge in regulatory approvals, and rise in patient preference for minimally invasive surgeries boosted the growth of the global hybrid operating room market. On the contrary, high cost of developing hybrid operating room hinders the market growth. However, untapped potential in emerging economies would open new opportunities in the coming years.
The global hybrid operating room market is segment on the basis of product, application, and geography. Based on product, the market is categorized into intraoperative diagnostic system, operating room fixtures, communication systems, and others. The communication system segment is expected to manifest the fastest CAGR of 13.7% from 2019 to 2026. However, the intraoperative diagnostic segment dominated the market in 2018, accounting for more than half of the total revenue.
On the basis of application, the market is bifurcated into cardiovascular surgery, neurosurgery, thoracic surgery, orthopedic surgeries, and others. The cardiovascular surgeries segment held the lion’s share in 2018, contributing to two-fifths of the market. However, the neurosurgery segment is projected to manifest the fastest CAGR of 13.2% during the study period.
The global hybrid operating room market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across the Asia-Pacific region is projected to register the fastest CAGR of 14.2% during the forecast period. However, the market across North America dominated in 2018, accounting for nearly three-fifths of the market.
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The global hybrid operating room market report includes an in-depth analysis of the major market players such as Alvo Medical, GE Healthcare, Koninklijke Philips N.V., Siemens AG, IMRIS Inc., Stryker Corporation, Getinge AB (MAQUET Holding B.V. & Co. KG), Hill-Rom Holdings, Inc. (Trumpf Medical System, Inc.), Mizuho Corporation, and Toshiba Corporation (Canon Medical Systems Corporation).
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.