ALBANY, New York, July 4, 2018 /PRNewswire/ –
Transparency Market Research (TMR) has published a new report titled, “Surgical Tables and Lights Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018-2026″. According to the report, the global surgical tables and lights market was valued at more than US$ 1,300.0 Mn in 2017 and is projected to expand at a CAGR of more than 3.0% from 2018 to 2026. Developing health care infrastructure in emerging countries and introduction of technologically advanced surgical tables and lights by market players are likely to boost demand for surgical tables and lights during the forecast period. Rapid development of health care infrastructure and increase in per capita health care expenditure present significant opportunities in the market in countries such as Australia, India, and New Zealand. This in turn is likely to boost the surgical tables and lights market in Asia Pacific from 2018 to 2026.
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High Cost of Surgical Tables and Lights to Restrain MarketÃ‚Â
Specialty surgical tables incur high acquisition as well as maintenance costs for health care settings. Constant evolution in the surgical tables and lights segment, with introduction of new features and designs has led to high prices of these products. This acts as a major restraint of the global market. The price of a general surgery table ranges from US$ 3,000 to US$ 7,000 in the U.S., while that of a specialty table ranges between US$ 9,000 and US$ 30,000. LED surgical lights based on various illumination techniques are estimated to cost from US$ 8,000 to US$ 25,000 in the U.S.
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Gynecology Examination Tables to Lose Market ShareÃ‚Â
The report offers detailed segmentation of the global surgical tables and lights market based on product type and application. In terms of product type, the surgical tables segment is projected to account for a large share of the global market during the forecast period. Demand for surgical tables and lights in operating rooms is propelled by increase in number of ambulatory surgery centers in the U.S. and other developed countries, and emergence of new hospital projects in Asia Pacific and Middle East Africa. Moreover, increase in number of new and advanced surgery tables introduced in the global market and comparatively higher prices of these equipment have led to dominant share of the segment in 2017. The gynecology examination tables segment is anticipated to lose market share during the forecast period and account for less than 18.0% by 2026.
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Public Hospitals to be Leading SegmentÃ‚Â
In terms of application, the public hospitals segment is projected to account for a dominant share of the global surgical tables and lights market during the forecast period. The segment is likely to expand at a higher CAGR from 2018 to 2026, owing to well-developed hospital infrastructure in the U.S., Canada, and countries in Europe that is largely governed by the public sector. According to the Organization of Economic Co-operation and Development (OECD), the public sector accounts for 85% of the total GDP spending on health care by developed countries in Europe and North America. However, increase in number of private players entering the market in emerging countries and rise in number of public-private partnerships are projected to drive the private hospitals segment of the global market from 2018 to 2026.
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North America Market to Expand at Rapid PaceÃ‚Â
In terms of revenue, North America held a major share of the global surgical tables and lights market in 2017. This is due to increase in number of hospital-based and free-standing ambulatory surgery centers (ASCs) and rise in installation of integrated and hybrid operating rooms by existing hospitals in the region. Entry of new players in the hospitals segment along with rise in investments by public private sectors is encouraging the development of new hospitals in countries such as Australia New Zealand and India. These factors are expected to drive demand for new unit shipments of surgical tables and lights in Asia Pacific. Moreover, rise in per capita health care spending and better access to health care service are factors likely to propel the surgical tables and lights market in Asia Pacific from 2018 to 2026.
Stryker, Hill-Rom Services, Inc., and STERIS plc to Dominate MarketÃ‚Â
The report also provides profiles of leading players operating in the global surgical tables and lights market. These include Stryker, Hill-Rom Services, Inc., STERIS plc, Getinge AB, Mizuho OSI, Merivaara Corp., JW Bioscience, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Dr. Mach GmbH Co. KG, and NUVO. Expansion of product portfolio by developing new products or acquisitions is a key strategy adopted by several players. For instance, in 2018, Dr. Mach GmbH Co. KG announced the launch of its new LED 150 surgical lights, which offers superior colour rendering, a multi-lens system, along with other features. Other key players are also adopting such strategies.
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