Surgical Tables and Lights Market Pegged for Robust Expansion by 2026

Posted by Aman Jaiswar on October 11th, 2019

Transparency Market Research (TMR) has published a new report titled, “Surgical Tables and Lights Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, the global surgical tables and lights market was valued at more than US$ 1,300.0 Mn in 2017 and is projected to expand at a CAGR of more than 3.0% from 2018 to 2026.

Developing health care infrastructure in emerging countries and introduction of technologically advanced surgical tables and lights by market players are likely to boost demand for surgical tables and lights during the forecast period. Rapid development of health care infrastructure and increase in per capita health care expenditure present significant opportunities in the market in countries such as Australia, India, and New Zealand. This in turn is likely to boost the surgical tables and lights market in Asia Pacific from 2018 to 2026.

High Cost of Surgical Tables and Lights to Restrain Market

Specialty surgical tables incur high acquisition as well as maintenance costs for health care settings. Constant evolution in the surgical tables and lights segment, with introduction of new features and designs has led to high prices of these products. This acts as a major restraint of the global market. The price of a general surgery table ranges from US$ 3,000 to US$ 7,000 in the U.S., while that of a specialty table ranges between US$ 9,000 and US$ 30,000. LED surgical lights based on various illumination techniques are estimated to cost from US$ 8,000 to US$ 25,000 in the U.S.

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Public Hospitals to be Leading Segment

In terms of application, the public hospitals segment is projected to account for a dominant share of the global surgical tables and lights market during the forecast period. The segment is likely to expand at a higher CAGR from 2018 to 2026, owing to well-developed hospital infrastructure in the U.S., Canada, and countries in Europe that is largely governed by the public sector. According to the Organization of Economic Co-operation and Development (OECD), the public sector accounts for 85% of the total GDP spending on health care by developed countries in Europe and North America. However, increase in number of private players entering the market in emerging countries and rise in number of public-private partnerships are projected to drive the private hospitals segment of the global market from 2018 to 2026.

Stryker, Hill-Rom Services, Inc., and STERIS plc to Dominate Market

The report also provides profiles of leading players operating in the global surgical tables and lights market. These include Stryker, Hill-Rom Services, Inc., STERIS plc, Getinge AB, Mizuho OSI, Merivaara Corp., JW Bioscience, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Dr. Mach GmbH & Co. KG, and NUVO. Expansion of product portfolio by developing new products or acquisitions is a key strategy adopted by several players. For instance, in 2018, Dr. Mach GmbH & Co. KG announced the launch of its new LED 150 surgical lights, which offers superior colour rendering, a multi-lens system, along with other features. Other key players are also adopting such strategies.