Surgical Tables Market to Reach US$1,014.3 mn by 2022, Globally: Transparency Market Research
ALBANY, New York, September 18, 2017 /PRNewswire/ --
The global surgical tables market has made rapid progress in the last few years. The primary driver responsible for this has been the rapid growth of the healthcare sector in developed regions, as this has provided the surgical tables market with a growing demand channel. This is likely to remain the key driver for the global surgical tables market in the coming years due to the strong growth prospects of the healthcare sector. The growing importance of surgical tables in surgical procedures is likely to propel the global surgical tables market, as this will drive significant product development in the coming years, leading to growing demand.
According to Transparency Market Research, the global surgical tables market was valued at US$837.1 mn in 2017 and is likely to rise to US$1,014.3 mn by 2022 at a steady 3.9% CAGR. The growth of the market is supported by the favorable economic and regulatory environment in key regional segments and is thus likely to continue unhindered in the coming years.
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Here are the key insights into the global surgical tables market:
Developed countries in North America and Europe are likely to remain the leading contributors to the global surgical tables market in the coming years. The North America market for surgical tables was valued at US$246.9 mn in 2017. Driven by the favorable prospects of the healthcare industry in North America, the surgical tables market in the region is likely to rise to a valuation of US$301.5 mn by 2022. This represents a strong 4.1% CAGR through the 2017-2022 forecast period, indicative of the likely dominance of North America in the global surgical tables market in the coming years.
The Europe market accounted for a significant 27.8% share in the global surgical tables market in 2017 due to the presence of strong government support to the development of an indigenous healthcare sector. A number of leading medical device companies are based in Europe due to the presence of longstanding traditions of workmanship, which is likely to drive the surgical tables market in Europe in the coming years. Despite an expected fall in its global market share over the 2017-2022 forecast period, Europe is likely to remain relevant to global market dynamics in spite of the growing prominence of Asia Pacific
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The vast scope of unmet demand in emerging regions such as Asia Pacific is likely to remain a key driver for the global surgical tables market in the coming year. Underdeveloped countries in Latin America and the Middle East are also likely to become major contributors to the surgical tables market in the coming years. The Asia Pacific except Japan market for surgical tables is expected to be valued at US$244 mn by 2022, exhibiting a 4.1% CAGR in the 2017-2022 forecast period. Japan accounted for 9.6% of the global surgical tables market in 2017 and is likely to remain a steady contributor to the global surgical tables market.
The Middle East and Africa could also play an important role in the global surgical tables market's development in the coming years. Prospering economies in the Middle East have become major players in the global healthcare sector in recent years due to the growing economic clout of these countries. The widespread lack of advanced medical infrastructure in Africa could become a key driver for the surgical tables market if the healthcare sector in the region managed to get aid from more prosperous economies. The Middle East and Africa accounted for 4% of the global surgical tables market in 2017.
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Competitive Dynamics
The global surgical tables market is likely to remain fragmented in the coming years due to the presence of a disbanded opportunity across the world. Leading companies in the market include AMTAI Medical Equipment, Inc., Allengers Medical Systems Limited, C-RAD AB, Getinge AB, Skytron Inc., STERIS, Elekta AB, Span America Medical System Inc., and Stryker Corporation.
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About TMR
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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