Market Scenario
Operating tables are used to stabilize the patient position and to provide elevated supporting surface for patient’s body during surgical procedures. Operating tables are also known as surgical tables and according to mode of use various types of operating tables are present in the market. Increasing surgical procedures are causing quick deterioration of operating tables which is directly responsible for increasing demand of operating table parts.
The operating table parts market is anticipated to be growing rapidly owing to advancement in technology, favorable reimbursement policies, and increase in surgical procedures. According to the report published by American hospital association, hospitals received payment of 87 cents for every dollar spent from Medicare and Medicaid has paid 88 cents per dollar as a reimbursement in 2016.
However, rising costs of surgical tables and increasing presence of local players and their low-quality products may hamper the growth operating table parts market.
Operating Table Parts Market –Competitive Landscape
The operating table parts market is observed to be growing rapidly owing to increasing developments of key players like Hill-Rom Holdings Inc, Siemens Medical Solutions USA, Inc., Stryker Corporation. The key players in the market have adopted strategy to sustain its position in the global market through use of advanced technology to develop easy to use surgical tables and engaging in merger and acquisitions.
In November 2015, STERIS plc. announced acquisition of synergy health plc for USD 2.04 billion. synergy health plc is major player in healthcare services market and company is involved in outsourcing healthcare and related market.
In September 2015, Hill-Rom Holdings Inc, acquired Welch Ally for USD 2.05 Billion, Welch Ally is market leader in point of care diagnostics and testing which will help Hill-Rom to develop and provide full patient care solutions.
In September 2015, Lojer group has purchased the entire share capital of Norwegian Fysiopartner for undisclosed amount. Fysiopartner is a major player in physiotherapy and sports equipment in Norway. This merger is part of Lojer groups diversification strategy.
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Regional Analysis
The American region is expected to be the leading region in the operating table parts market owing to presence of advanced technology and well-developed healthcare sector. On regional basis, American region is divided into North America and South America. North America dominates the market due to presence of developed countries like the US and high disposable income. Additionally, increasing surgical procedures in the region and presence of major players in this region are responsible for the market growth in this region.
Europe is anticipated to be the second leading market for operating table parts due to increase in healthcare expenditure and rising concerns for public health. Germany is major growing market in this region due to rising acceptance of technologically advanced medical devices.
Asia-Pacific is expected to be the fastest growing market for the operating table parts owing to huge patient pool, improving healthcare expenditure as well as healthcare investment and rising need for better healthcare services.
Furthermore, the Middle East and Africa region holds the least market share. The market in the Middle East region is expected to grow owing to presence of developing healthcare infrastructure.
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