Surgical Tables Market at a Steady Growth Rate of 3.9% CAGR to the year 2022
The world market for surgical tables is dominated by already established international market vendors whilst local market participants jostle to make a positive impact on the said industry. Together with the development of advanced and premium quality electro-hydraulic operating tables, electric surgical tables, and operating tables and by offering end-to-end service, these international market players have fortified their foothold in the world market for surgical tables. Whilst on the other hand, numerous local market participants are finding it extremely difficult to meet up with the standard of the technology, features, and quality that is used in the surgical tables that are being developed by the international market vendors. The global surgical tables market is projected to be extremely fragmented due to the presence of disbanded opportunity that exists across the globe, discovers Transparency Market Research (TMR) in its latest market intelligence report.
A few of the prominent market players that operate within the surgical tables market are Elekta AB, Stryker Corporation, Span America Medical System Inc., AMTAI Medical Equipment, Inc., Allengers Medical Systems Limited, STERIS, Getinge AB, Skytron Inc., and C-RAD AB.
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In accordance to the report by TMR, the international market for surgical tables market is expected to rise from a market valuation of US$ 837.1 mn in 2017 and is predicted to be worth around US$1,014.3 mn by the year 2022 at a steady growth rate of 3.9% CAGR within the period of forecast that extends from the year 2017 to the year 2022.
North America to Lead the Market throughout the Period of Forecast
The international market for diabetes drugs has been categorized into major geographies of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Based on the segmentation of geography, the region of North America is foreseen to steer the world market for surgical tables towards growth. The said market is estimated to expand from a market valuation of around US$ 246.9 mn in the year 2017 to a valuation of US$ 301.5 mn by the year 2022, thereby registering a healthy growth of 4.1% CAGR from the year 2017 to 2022. The region of Europe is further anticipated to be a major market for surgical tables in the forthcoming years. The said region held around 27.8% of the total market share in the year 2017 owing to the strong backing that it receives from the government for the development and progress of the industry of healthcare together with high number of organizations that are manufacturing medical devices in this region.
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However, it is the region of Asia Pacific which is foreseen to be a major market driver for the progress of the overall global market for surgical tables in the forthcoming years. Japan held around 9.6% of the total market in the year 2017 and is expected to be a steady contributor towards the market revenue. Asia Pacific except Japan (APEJ) is estimated to rise at a growth rate of around 4.1% CAGR in between the forecast period of 2017 and 2022 and the said market is reach a market evaluation of around US$ 244 mn by the year 2022.
Illness due to Various Lifestyle Factors to Encourage Market Growth
There are many factors that have been positively impacting the growth of this market. Some of the factors are improvement in the healthcare infrastructure, burgeoning number of accidents, expanding base of geriatric population worldwide, and rising number of surgeries across the globe.
There has been rising incidences of chronic illness as well as various other health-related issues that are necessitating surgeries and these factors are expected to boost the world market for surgical tables. Numerous healthcare centers and hospitals are upgrading to the latest and advanced equipment in a bid to make an offering of effective care to patients and as such it is expected that the said market would receive a boost.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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