Surgical Tables Market is Expanding at a CAGR of 3.9% by 2022
Global Surgical Tables Market: Snapshot
Surgical tables comprise one of the first requirements of a modern healthcare system and thus are likely to be in constant demand over the near future. The global surgical tables market has benefited significantly from the rising investment in the healthcare sector across the world regardless of the economic state of the country. Developed countries have led the way in modernizing their healthcare sectors and incorporating major technological advances, but healthcare agencies in developing regions such as the Middle East, Japan, Asia Pacific, and Latin America are also likely to become major players in the global healthcare sector. This is likely to drive the global surgical tables market at a steady rate in the 2017-2022 forecast period. The increasing acknowledgment of the need to improve the surgical area to maximize its utility and comfort is likely to drive the global surgical tables market.
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According to Transparency Market Research, the global surgical tables market was valued at US$837.1 mn in 2017 and is expected to rise to US$1,014.3 mn by 2022 at a steady 4.1% CAGR therein.
North America to Dominate Global Surgical Tables Market
Geographically, North America is likely to be the leading contributor to the global surgical tables market in the coming years. The North America market is driven by the steady rise in demand from the surgical tables market in the U.S., where the healthcare sector is highly developed. The North America surgical tables market is expected to rise to a valuation of US$301.5 by 2022, expanding upon its 2017 valuation of US$246.9 mn at a strong CAGR of 4.1% between 2017 and 2022.
Rising Investment in Developing Regions Crucial for Surgical Tables Market
Despite the dominant role of Western countries in the technological development of the healthcare sector, emerging countries such as China, India, Thailand, Indonesia, Malaysia, Singapore, Brazil, Argentina, the UAE, and Saudi Arabia are likely to be vital to the global surgical tables market in the coming years. Several of these countries house rapidly growing healthcare sectors that are receiving significant government funding as well as private investment. This has enabled steady growth of the growth of component industries such as the surgical tables market. The increasing spending power of healthcare agencies in these regions is also likely to lead to growing demand for surgical tables and other such hospital implements.
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Innovation in Developed Regions to Boost Surgical Tables Market
Developed countries such as the U.S., the U.K., France, and Germany are home to flourishing surgical tables markets that are likely to undergo smooth growth in the coming years due to the steady backing for healthcare innovation in the region. Widespread regulatory support for incorporation of technological advances in the healthcare sector is likely to help the surgical tables market achieve steady growth in Europe in the coming years. Despite being likely to lose some BPS over the forecast period, Europe accounted for 27.8% of the global surgical tables market in 2017 and is likely to remain a dominant contributor in the coming years.
Hospitals to Remain Dominant Contributor amid Growing Demand from ASCs
By end use, hospitals are likely to dominate the global surgical tables market. Hospitals have been the conventional leader in the surgical tables market and are likely to exhibit steady growth in demand over the coming years. Nevertheless, ambulatory surgical centers (ASCs) are becoming an important part of the healthcare sector in developed countries and are likely to contribute consistently to the surgical tables market in the coming years.
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