Operating Tables And Lights Market Is Estimated To Witness High Growth
Operating tables and lights are critical infrastructure for surgeries as they offer optimized patient positioning and illumination during procedures. Operating tables allow surgeons to place patients in various positions like supine, lithotomy or prone based on surgical needs while lights provide perfect illumination for visualization. In recent years, there has been an increasing demand for advanced tables and lights with features like integrated technologies, movable parts and battery backup. This enables achieving better outcomes through improved ergonomics and enhanced surgical workflows.
The global Operating Tables and Lights Market is estimated to be valued at US$ 1491.9 Mn in 2023 and is expected to exhibit a CAGR of 3.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The increasing number of surgeries being performed present a major market opportunity for operating tables and lights. With growing disease incidence, aging population and rising cases of trauma worldwide, surgical volumes are surging across both developed and developing regions. As per estimates, over 313 million surgeries were performed globally in 2020 with the number projected to increase substantially in the coming years. This rapid growth in surgical caseload will correspondingly boost demand for modern operating room infrastructure including tables and lights. As healthcare facilities look to enhance their infrastructure to handle higher workloads efficiently, there will be significant investments in advanced, feature-rich tables and lights. This rising spending on surgical equipment bodes well for players in the operating tables and lights market.
Porter’s Analysis
Threat of new entrants: The Operating Tables and Lights Market requires significant capital investments and compliance with medical safety and quality standards. These factors pose high entry barriers for new players.
Bargaining power of buyers: The bargaining power of buyers is moderate as there are several established players providing operating tables and lights. However, buyers can negotiate on price and quality.
Bargaining power of suppliers: A few major companies dominate the supply of key components like tables, surgical lights and other medical equipment. This gives them moderate bargaining power over operating tables and lights manufacturers.
Threat of new substitutes: There are no direct substitutes for operating tables and lights used in surgical procedures. However, technological advancements may lead to new alternatives in the future.
Competitive rivalry: The market has the presence of many global and regional players. Intense competition exists in terms of product quality, innovation, prices and service.
SWOT Analysis
Strength: Operating tables and lights manufacturers have strong branding and reputation backed by decades of experience. Their products meet high safety and efficacy standards.
Weakness: Constant technological advancements require huge R&D investments from players. Supply chain disruptions can impact product availability. High bargaining power of hospitals poses pricing challenges.
Opportunity: Rising surgical volume worldwide due to the growing disease burden and an aging global population increases demand. Emerging markets offer scope for expansion.
Threats: Economic slowdowns and budget cuts in the healthcare sector can decrease capital expenditures on medical devices. Stringent regulatory approvals and procedures are other challenges.
Key Takeaways
The Global Operating Tables And Lights Market Growth is expected to witness high owing to factors such as the rising global disease prevalence, increasing average life expectancy and rapid medical technlogical advancements.
North America dominates the market currently due to growing healthcare expenditure, higher accessibility to advanced treatments and presence of key industry players in the region. Asia Pacific is projected to be the fastest growing market over the forecast period supported by expanding medical tourism, improving access to healthcare facilities and rising focus of international players on emerging countries.
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., BenQ Medical Technology, Mediland Enterprise Corporation, Alvo Medical Sp. z o.o., Famed Zywiec Sp. z o.o., Heal Force, OPT Surgisystems S.R.L. (TKB Group), Medifa-hesse GmbH & Co. KG, UFSK-International OSYS GmbH, Taicang Kanghui Technology Development Co., Ltd, Ningbo Techart Medical Equipment Co., Ltd., Fazzini SRL, Lojer Oy, and AGA San.
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