New Product Launches & Approvals, and Agreements & Collaborations were Key Growth Strategies Adopted by Leading Market Players in the Global Hybrid Operating Room Market
The global hybrid operating room market is expected to grow at a CAGR of 12.5% between 2017 and 2022. Factors driving the growth of this market include the increasing adoption of minimally invasive surgical procedures and technological advancements among others.
As of 2016, Philips Healthcare (The Netherlands), Siemens Healthineers (Germany), Stryker Corporation (U.S.), Toshiba Corporation (Japan), GE Healthcare (U.S.), IMRIS Inc. (U.S.), Eschmann Equipment (U.K.), MAQUET GmbH (Germany), Trumpf Medical (Germany), and Skytron LLC (U.S.), Richard Wolf GmbH (Germany), MIZUHO OSI (U.S.), STERIS plc. (U.S.), NDS Surgical Imaging (U.S.), Alvo (Poland) are some of the major manufacturers in this market.
Analysis of the market developments between 2014 and 2017 (March) show that new product launch, agreements, and collaborations were the most widely adopted growth strategies by players in the market. Players adopted these strategies to strengthen their market position by collaborating to develop and provide technologically advanced products to its customer base. For instance, in 2017, Siemens Healthineers (Germany), received FDA clearance for its ARTIS pheno Angiography System.
Siemens AG. (Germany) held the leading position in the global hybrid operating room market in 2016. The company has been focusing on new product launch, approval, and agreements to maintain this position in the market. In 2015, Siemens Healthineers signed an agreement with Admiraal De Ruyter Ziekenhuis (ADRZ) Hospital (Netherlands) to build and supply medical equipment for six operating theaters, which included one hybrid operating suite. The company has a strong global presence with more than ~53% of its revenue generated from Europe, C.I.S., Africa, & Middle East and more than 28% from the American region.
Philips Healthcare is one of the leading players in the hybrid operating room market, in 2016. In order to strengthen its current position and to gain a larger share in the hybrid operating room market, the company aggressively focuses on inorganic and organic business growth strategies such as partnerships, product launches, approvals, and product deployment. In February 2017, Philips Healthcare launched Azurion, an image-guided therapy platform. Additionally, in January 2017, Philips launched its augmented-reality surgical navigation technology for spine, cranial, and trauma surgeries.
Related Reports:
Hybrid Operating Room Market by Component (Surgical Booms, Surgical Lights, Operation Tables, MRI, CT, Angiography, AV Tools), Application (Cardiovascular, Neurovascular, Thoracic, Orthopedic), End User, and Region - Global Forecast to 2022
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