Operating Table Market is Estimated to Witness High Growth Owing to Opportunity of Improving Healthcare Outcomes
Operating Table Market |
An operating table, also known as operating room table (OR table), is a table on which patients lie during surgical procedures. Modern operating tables are specially designed for comfort, flexibility, and safety of both patient and surgeons. They allow adjustable positions for the surgical team and help maximize exposure during procedures. Operating tables today come equipped with features such as adjustable leg supports, builtin retractors, electric motorization, X-ray compatibility, and integrated light and monitor mounts. Their motorized design enables easy maneuvering of patients into surgical positions without compromising safety or sterility.
The global Operating Table Market is
estimated to be valued at US$ 1.5 Bn in 2023 and is expected to exhibit a CAGR
of 7.0% over the forecast period 2023 to 2030, as highlighted in a new report
published by Coherent Market Insights.
Market Opportunity:
The growing volume of surgical procedures globally presents a major market
opportunity for operating tables. As healthcare infrastructure expands in
developing countries and medical tourism rises across the world, the demand for
advanced operating room equipment is witnessing strong growth. Furthermore, the
integration of operating tables with nextgen technologies such as robotics,
AR/VR, and AI has potential to revolutionize surgical workflows and
significantly improve healthcare outcomes. Manufacturers focusing on innovative
product launches leveraging these technologies can gain an edge in the highly competitive
operating tables market.
Porter’s Analysis
Threat of new entrants: Low capital requirements for the entry but it is
difficult to attain sufficient economies of scale and brand recognition against
existing global players in this market segment. Bargaining power of buyers:
Moderate level as the buyers have bargaining power from their large quantity
orders for hospitals and healthcare centers. Bargaining power of suppliers: Low
level as the key raw materials for operating table manufacturing is readily
available and there are many suppliers. Threat of new substitutes: Low threat
as operating table is the standard medical equipment required for surgeries
with no close substitute available. Competitive rivalry: High level as the
market is fragmented with presence of global as well as regional players
competing on the basis of product pricing, quality and reliability.
SWOT Analysis
Strength: Operating table manufacturers offer customized product specifications
as per hospital requirements. Manufacturers focus on continuous product
innovation for better patient care. Weakness: High initial investment
requirement for operating table manufacturing facilities. Dependence on import
of few critical components increases overall cost. Opportunity: Growth prospects
in emerging markets due to rising healthcare infrastructure and surgeries.
Adoption of robotics assisted operating tables presents new growth
opportunities. Threats: Stringent regulatory approvals and quality standards
delays new product launch. Threat from refurbished and rented operating tables.
Key Takeaways
Global
Operating Table Market Size is expected to witness high growth during
the forecast period owing to increasing number of surgeries globally.
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