PUNE, India, Oct. 4, 2021 /PRNewswire/ -- According to The Insight Partners study on "Operating Tables Market to 2028 - Global Analysis and Forecast - by Product Type, Technology, and End User, and Geography," the market is projected to reach US$ 1,043.41 million by 2028 from US$ 835.46 million in 2021; it is expected to grow at a CAGR of 3.2% during 2021-2028. The market growth is attributed to the increasing number of hospitals and clinics and the surging number of surgical procedures.
In 2020, North America dominated the global operating tables market. The market growth in the region is attributed to the increasing focus of market players on the US and Canada, surging technological advancements in operating tables, and rising surgical procedures in Mexico. For instance, according to a study published by the American Society for Metabolic and Bariatric Surgery in 2021, the US witnessed around 62.0% of growth in bariatric surgeries during the past decade. In addition, according to the study published by the Agency for Healthcare Research and Quality in 2017, around 0.7 million total knee replacement surgeries were performed in the US per year. Such a significant number of surgical procedures offers a favorable environment for the adoption of advanced healthcare facilities, which would eventually drive the US operating tables market growth during the forecast period.
Report Coverage | Details |
Market Size Value in | US$ 835.46 Million in 2021 |
Market Size Value by | US$ 1,043.41 Million by 2028 |
Growth rate | CAGR of 3.2% from 2021-2028 |
Forecast Period | 2021-2028 |
Base Year | 2020 |
No. of Pages | 177 |
No. Tables | 111 |
No. of Charts & Figures | 76 |
Historical data available | Yes |
Segments covered | Product Type; Technology; End User; and Geography |
Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
Increasing Number of Hospitals and Clinics Contribute to Growth of Operating Tables Market - Get Exclusive Sample Pages of Operating Tables Market at https://www.theinsightpartners.com/sample/TIPRE00008980/
Increasing Number of Hospitals and Clinics Fuel Operating Tables Market Growth
The hospital industry across the world is growing at a rapid pace. Although the average hospital stays for a single patient has been slightly decreased from 7 days to 5-6 days in the last couple of decades, the total number of hospital admissions has increased in the last 5-6 years. Moreover, according to the American Hospital Association, the total number of all hospitals in the US in 2019 was 6,090.
According to the Department of Industrial Policy and Promotion (DIPP), the hospital and diagnostic centers in India have attracted Foreign Direct Investments (FDIs) worth US$ 6 billion in the last couple of decades. According to the Ministry of Health and Family Welfare, the Government of India, India and Cuba signed a Memorandum of Understanding (MoU) to increase cooperation in the areas of health and medicine. Furthermore, a de-merger between Fortis Healthcare and Manipal Hospitals Enterprises has been carried out to raise US$ 602.41 million, which can be further invested to expand hospital infrastructure in Manipal Hospital Enterprise. The operating tables industry in India is booming owing to a few factors such as rising government and private sector investments, increasing geriatric population, and surging hospital count.
Hospitals are known to amplify the effectiveness and quality of healthcare. Moreover, the World Health Organization (WHO) states that hospitals are an essential part of health system development. This has drawn the attention of Health Ministries in multiple countries to focus on improving the healthcare infrastructure and establish a hospital and clinical facilities in rural and urban areas. For instance, in November 2017, Japan's Health Ministry made free access to healthcare centers available in the country through the establishment of new hospitals. Thus, the rising number of hospitals and clinics across the world boosts the growth of the operating tables market.
Operating Tables Market: Segmental Overview
Based on product type, the global operating tables market is segmented into general surgery tables, specialty surgery tables, radiolucent operating tables, and pediatric operating tables. The market for the specialty surgery tables segment is sub segmented into orthopedic surgery, neurosurgical, laparoscopic, and bariatric surgery. In 2020, the general surgery tables segment held the largest market share. However, the specialty surgery tables segment is expected to register the highest CAGR in the market during 2021-2028. A general surgical table is designed for versatility and adaptability across a wide array of operations. The table can be adjusted for height and length as well as can be tilted to either side. The rising burden of chronic diseases is one of the major factors propelling the demand for operating tables across the world.
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Operating Tables Market: Competition Landscape and Key Developments
Skytron, LLC.; Steris, PLC.; AGA Sanitätsartikel GmbH; Alvo; Denyers International; Getinge AB; Mizuho Medical; Merivaara; Stryker Corporation; and Hill Rom Holding Inc. are a few key companies operating in the operating tables market. The leading market players are focusing on the new product launch, expansion and diversification, and acquisition strategies, which allows them to tap into prevailing business opportunities.
In December 2020, Skytron launched the GS70 Salus surgical table, the first of the guardian series surgical table. The table offers unique and advanced features and technologies, and keeps the user informed. It facilitates research and continuous improvement by utilizing the captured performance data.
In July 2020, Hillrom launched the PST 500, a precision surgical table designed to be versatile and intuitive to provide the best care for patients. The PST 500 served as the foundation of surgical care during a wide range of positions across various surgical applications. The PST 500's safety features comprise a 454 kg weight capacity, ergonomic handling, collision monitoring, a self-leveling floor locking system, as well as a light-messaging system to help combat alarm fatigue, remote control, and easy setup and use. The company also introduced the PST 300, a versatile, intuitively designed multi-function surgical table suitable for handling general surgery, orthopedics, and neurosurgery. Furthermore, the highly advanced addition to the Yellofins Stirrups line provides enhanced safety, a dual-rod design that prevents medial leg drop, automatic position-locking technology to safely position the patient, along with enhanced infection control.
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