Hybrid Operating Room Market Overview
Hybrid operating rooms are equipped with fixed imaging systems that allow physicians to perform high-risk minimally invasive endovascular procedures with real-time imaging guidance and, if needed, convert them instantly to open surgery use. Hybrid operating room makes it possible to simultaneously reach a diagnosis and provide treatment during surgical interventions. The global hybrid operating room market is expected to witness significant growth during the forecast period (2017-2023), in emerging economies, such as China and India, due to large population of these countries. A hybrid OR (operating room) is an alternative to conventional OR equipped with advanced medical imaging systems and devices supporting high quality interventional imaging and minimally invasive surgeries.
On the basis of type of device, the hybrid operating room market is segmented into surgical imaging displays, operating room communication systems, operating room lights, intraoperative diagnostic devices, operating tables and surgical booms. Intraoperative diagnostics devices held the largest share of the global market in 2016 and also acts as a major driver for hybrid operating room market due to the increasing use of various machines such as 3D ultrasound and MRI, significant installation costs associated with diagnostic imaging products, increasing installation of hybrid OR’s’ across major countries, ongoing integration and automation of OR workflows, and continuous technological advancements in the field of diagnostic imaging.
Based on application, the global hybrid operating room market is segmented into therapeutic and diagnostic imaging application. Therapeutic accounted for the largest market share owing to the growing prevalence of cardiovascular diseases, globally and increasing preference of cardiac surgeons for hybrid OR settings during target surgical procedures.
Hospitals and surgical centers, clinics, ambulatory surgical centers and medical research institutes are among the end user segments for the hybrid operating room market. The hospitals and surgical centers segment accounted for the largest share of the global hybrid operating rooms market in 2016, owing to the rising patient emphasis on timely and effective disease management and due to rising number of diagnostic and surgical procedures carried out at hospitals.
Hybrid Operating Room Market Dynamics
Growth Drivers and Restraints
Increasing adoption of minimally invasive surgeries, technological advancements, high prevalence of cardiovascular diseases, increasing healthcare expenditure and growing preferences of patient for affordable & effective surgical treatments are the major key factors driving the growth of hybrid operating room industry.
As per the statistics reported by the World Heart Federation, over 17.3 million people die worldwide from cardio vascular diseases each year and the number is estimated to cross 23 million, by 2030.
According to a report published in 2015, by the European Association of Cardio-Thoriac Surgery (EACTS), minimally invasive cardiac surgery has developed rapidly in the past 10-15 years. It has been estimated that 1 in 500 suffers from Hypertrophic obstructive cardiomyopathy (HOCM) and other forms of septal hypertrophy, an underserved condition in cardiac patients, globally, which translates to 1.5 million people in Europe and the U.S. At the same time only 5000–10,000 patients undergo surgery for this condition annually due to the lack of a simple and effective treatment. With a new and less invasive technology, Septulus, large groups of patients that previously were not treated according to the guidelines can now be offered a simple procedure. According to the Centers for Disease Control and Prevention (CDC), total national health expenditure in the U.S. stood at $3.0 trillion in 2014 and per capita national health expenditure was $9,523. On the other hand, procedural risks associated with hybrid OR and the significant establishment and operational costs involved hamper the growth of the market.
Rising adoption of robot-assisted surgeries, emerging markets in Asia-Pacific and Latin America provide opportunities for the market players in these regions.
For instance, in the emerging economies such as India, China, Brazil, and Mexico, local governments are increasingly investing in healthcare. According to the World Bank, Brazil spent 8.3% of its $2.456 trillion GDP on healthcare in 2014. Similarly, China spent 5.5% of its GDP on healthcare, whereas, Mexico spent 6.3% of GDP on healthcare, in 2014.
Increasing government expenditure on healthcare leads to increase in the number of hospitals and clinics, and healthcare infrastructure.
Hybrid Operating Room Insights by Geography
North America accounted for the largest share of the global hybrid operating room market in 2016, followed by Europe, due to the significant investments by hospitals to upgrade their operating rooms, coupled with the increasing number of surgical procedures and ambulatory surgery centers in the region. Asia-Pacific is expected to register the highest growth rate during the forecast period, due to the rapid growth in the healthcare expenditure in emerging APAC countries such as China and India, which is expected to support the adoption of advanced surgical & diagnostic technologies in their respective healthcare systems during the forecast period.
Hybrid Operating Room Competitive Landscape
In order to expand their product portfolio, the companies are collaborating to invest in research and developments in the hybrid operating room market.
In August 2016, GE Healthcare, entered into partnership with Swedish medical device firm Getinge Group, and launched a highly flexible angiography solution for hybrid operating room (OR) procedures. This solution combined GE’s Discovery IGS 730 angiography system with Getinge Group Maquet brand’s Magnus operating table system, which broadened the capabilities and services available in Hybrid OR. This partnership aimed at complementing GE’s unique mobile gantry technology to fit the needs of any virtual surgery and interventional specialty.