Global Surgical Table Market Expected to Garner $2,452.8 Million in the 2022-2031 Timeframe, Growing at 7.0% CAGR [275-Pages] | Disclosed by Research Dive
The surgical table market is expected to grow by 2031 due to growing demand for surgical tables by hospitals. The hospitals sub-segment is predicted to have the highest market share. The market in North America is likely to be the most profitable.
NEW YORK, April 14, 2023 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "Surgical Table Market, by Product Category (Generalized Surgical Table and Specialized Surgical Table), Product Type (Powered and Non-Powered), and End Use (Hospitals and Ambulatory Surgical Centers): Global Opportunity Analysis and Industry Forecast, 2022-2031".
As per the report, the global surgical table market is predicted to grow at a stable CAGR of 7.0% in the 2022-2031 timeframe, thereby garnering $2,452.8 million by 2031.
Dynamics of the Market
Drivers: The growing use of surgical tables by hospitals and medical institutions for providing better surgical experience to patients is predicted to help the surgical table market grow in the forecast period. Along with this, rising global investment in healthcare industry is anticipated to drive the market forward.
Opportunities: A substantial increase in the number of surgeries being conducted worldwide is expected to offer numerous growth opportunities to the market in the analysis timeframe. Moreover, rising competition in the surgical instrument industry is anticipated to augment the growth rate of the market.
Restraints: Market analysts are however skeptical about the full-paced growth of this market owing to the high cost of surgical table materials which might prove to be a restraint for the surgical table market.
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Impact of Covid-19 on the Market
The novel coronavirus had wreaked havoc in the world. The lockdowns put in place to curb the virus affected various industries and their production cycles. The surgical table market, too, faced a negative impact of the pandemic. The pandemic period saw a major decline in urgent elective surgeries being performed which reduced the demand for surgical tables. This decrease in the demand for surgical tables brought down the growth rate of the market.
Segments of the Market
The report has divided the surgical table market into certain segments based on product category, product type, end use, and region.
- By product category, the generalized surgical table sub-segment is predicted to have a dominant market share by 2031. Growing use of general surgery tables to provide ergonomic features, advanced technologies, and safety measures for ensuring patients' well-being during surgery sessions is expected to help the sub-segment grow in the forecast period.
- By product type, the powered sub-segment is anticipated to be the most lucrative sub-segment in the forecast timeframe. The flexibility and maneuverability offered by powered surgical tables as well as a growth in demand from healthcare facilities around the world is predicted to help in the growth of this sub-segment.
- By end use, the hospitals sub-segment of the surgical table market is anticipated to flourish immensely by 2031. Increasing hospital investment in surgical equipment is predicted to offer numerous growth opportunities for the sub-segment in the analysis timeframe.
- By regional analysis, the surgical table market in North America region is expected to garner maximum revenue in the forecast period. Increase in preference for minimally invasive surgeries and growing number of surgeries are expected to be the two main growth drivers of the market in this region.
Prominent Market Players
Some of the prominent players of the surgical table market are
- Steris PLC
- Getinge AB
- Allengers Medical Systems Limited
- Skytron LLC
- Schaerer Medical USA Inc.
- Invacare Corp.
- Stryker Corporation
- NUVO Inc.
- Elekta AB
- Mizuho OSI
These players are adopting various business strategies like mergers, acquisitions, and collaborations to gain a prominent position in the market.
For instance, in October 2020, STERIS plc, a leading healthcare procedural products and services provider, announced the acquisition of Key Surgical, a medical instruments company. This acquisition is predicted to boost the market share of the acquiring company, STERIS plc, in the coming period.
Finally, the report also summarizes many crucial aspects of the global market including SWOT analysis, latest strategic developments, financial performance of the key players, and product portfolio.
More about Surgical Table Market:
- A Quick Look at the 4 Different Types of Surgical Tables in the Market
- Global Surgical Table Market to Observe Widespread Growth with Growing Number of Geriatric Patients
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