Operating Tables And Lights Market is Estimated To Witness High Growth Owing To Increasing Number Of Surgical Procedures
Operating Tables And Lights Market
The Operating Tables And Lights Market is estimated to be valued at US$ 1,382.0 Mn in 2022 and is expected to exhibit a CAGR of 3.9% over the forecast period 2021 to 2028, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Operating tables provide a sturdy and flexible surface for surgeons to conduct surgical procedures on patients, with features like adjustable height, angles and positions help surgeons achieve optimal ergonomics. Operating lights or surgical lights offer shadow-free, glare-free and comfortable illumination during surgical procedures. Together, operating tables and lights are indispensable equipment found in operating rooms of hospitals and healthcare facilities for conducting various surgical specialties including orthopedics, neurology, cardiology and more.
Market key trends:
One of the major trends fueling growth of the operating tables and lights market is the growing number of surgical procedures performed globally. According to the American Hospital Association, in 2015, there were over 51 million inpatient surgical procedures and over 146 million outpatient surgical procedures performed in the United States. Another factor contributing to market growth is increasing investment by both public and private organizations in healthcare infrastructures and facilities especially in developing regions. Technological advancements introducing mobile or movable operating tables and lights with features like integrated anesthesia units, improved ergonomics and touchscreen controls are expanding application in hybrid operating rooms and ambulatory surgical centers.
Porter’s Analysis
Threat of new entrants: Low capital requirements and regulations limit threat of new entrants. Established brands have significant advantages in terms of supply chain and customer loyalty.
Bargaining power of buyers: Large healthcare facilities and group purchasing organizations have substantial bargaining power that can negatively impact prices.
Bargaining power of suppliers: Major suppliers like Siemens AG, Dragerwerk AG & Co. KGaA have significant influence in the market.
Threat of new substitutes: Limited threat as operating room equipment have very specific functionalities.
Competitive rivalry: High due to presence of numerous global and regional players competing on price and product innovation.
SWOT Analysis
Strengths: Growing demand for minimally invasive surgeries and robotic assisted procedures. Technological advancements improving efficiency.
Weaknesses: High costs of advanced systems limits adoption in price sensitive markets. Rising regulatory standards increase compliance costs.
Opportunities: Untapped growth potential in emerging economies. Integration of IoT and AI capabilities in operating tables.
Threats: Reimbursement cuts and regulatory uncertainties. Intense competition affecting pricing and margins.
Key Takeaways
The global Operating Tables And Lights Market is expected to witness high growth, exhibiting CAGR of 3.9% over the forecast period, due to increasing adoption of minimally invasive surgeries and rising healthcare expenditure.
The North American region currently dominates the market and is expected to maintain its position over the forecast period, owing to presence of major players, large healthcare budgets and rapid technological adoption.Asia Pacific is expected to exhibit fastest growth during 2021-2028 period due to growing medical tourism, increasing healthcare infrastructure and rising disposable incomes in the region.
Key players operating in the operating tables and lights market are Siemens AG, Dragerwerk AG & Co. KGaA, Getinge AB, GE Healthcare, Hill-Rom Holdings, Inc., KARL STORZ GmbH & Co. KG, Mizuho OSI, Koninklijke Philips N.V., STERIS Corporation, Stryker Corporation, Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
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