Operating tables are specialized medical tables used to position patients comfortably and provide surgeon easy access during surgical procedures. Operating tables provide adjustable surfaces to position patients for a variety of procedures and allow surgeons and other staff optimal positioning while ensuring patient safety, access, and efficient workflow.
The Operating Table Market is estimated to be valued at US$ 1.50 Bn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving growth of the operating table market is the increasing adoption of specialty operating tables. Specialty operating tables are customized for specific procedures and offer enhanced ergonomics, workflows, and patient positioning capabilities. For instance, orthopedic operating tables offer enhanced capabilities for joint replacement surgeries while urology tables provide customization for urologic and kidney procedures. Manufacturers are also offering tables integrated with advanced technologies such as powered drives, adjustable surfaces, and self-leveling features to provide maximum flexibility to medical staff. As the complexity of surgeries increases, demand for specialized operating tables is also growing significantly driving the growth of the overall market during the forecast period.
Porter’s Analysis
Threat of new entrants: Low capital requirement for manufacturing operating table pose threat of new entrants in the market. However, established brands have strong distribution network and customer loyalty which make difficult for new players.
Bargaining power of buyers: Due to availability of substitutes and presence of many established brands, buyers have higher bargaining power in the operating table market.
Bargaining power of suppliers: suppliers have moderate bargaining power due to availability of substitutes and less switching cost.
Threat of new substitutes: Threat of new substitutes is moderate as branded manufacturers continuously invest in R&D to develop innovative tables meeting modern needs with similar functionality at lower costs.
Competitive rivalry: High as key players compete on the basis of product quality, pricing and brand image.
SWOT Analysis
Strength: Operating tables offer advance ergonomic features, mobility and safety which enhance surgical workflow. Manufacturers provide customized products as per needs.
Weakness: High cost of technologically advanced operating tables make it inaccessible for small setups and low budget hospitals in developing nations. After sales services in rural areas need improvements.
Opportunity: Increasing number of surgeries due to rising incidence of diseases and government focus on strengthening healthcare infrastructure will boost demand.
Threats: Regulations regarding use of medical devices vary across countries posing challenges. Economic slowdowns can negatively impact market growth.
Key Takeaways
Global Operating Table Market Demand is expected to witness high growth, exhibiting CAGR of 6.6% over the forecast period, due to increasing number of surgeries worldwide.
Regionally, North America dominated the market and is expected to maintain its lead over the forecast period due to presence of advanced healthcare facilities and rising healthcare expenditure in the US and Canada. Asia Pacific is anticipated to be the fastest growing region owing to growing medical tourism, rapidly improving healthcare infrastructure and rising healthcare spending by governments in major Asian countries.
Key players operating in the operating table market are Hill-Rom Holdings, Inc.; Steris Plc., Stryker Corp., Getinge AB, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Mizuho Corporation, Skytron LLC, Alvo Medical, Allengers Medical Systems Ltd. These players are focusing on new product launches and geographical expansions to increase their market share. For instance, in 2022, Hill-Rom launched new operating tables - Harvey Elite and Harvey Elation catering to specialty needs.
Get More Insights on this Topic- https://www.dailyprbulletin.com/operating-table-market-outlook-future-analysis-and-trends/
Comments
0 comment