In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
The hydraulic surgical tables market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2021-2029. The increase in global healthcare expenditure, along with the growing investment in sophisticated surgical tables to support hybrid operating rooms, are expected to fuel the progress of this market. The growth of the market can also be attributed to factors such as the increasing number of hospitals and ambulatory surgical centers and the rising preference towards minimally invasive surgeries on a global level.
The market is segmented on the basis of product type into general surgery tables, imaging tables, neurology tables, urology tables, orthopedic tables, and others, out of which, the general surgery tables’ segment is anticipated to grab the largest share by the end of 2021 on account of greater demand for general surgeries than other surgeries. Moreover, general surgery tables are increasingly being used due to their cost-effectiveness, which is also projected to contribute to the growth of the segment during the forecast period.CLICK TO DOWNLOAD SAMPLE REPORT
On the basis of end-user, the general medical & surgical hospitals’ segment in the global hydraulic surgical tables market is projected to grow with a significant CAGR over the forecast period. The growth of the segment can be attributed to the greater rate of adoption of hydraulic surgical tables in general medical & surgical hospitals due to the high demand and strong financial capabilities of general medical & surgical hospitals.
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to the developing healthcare infrastructure and rising income levels in the region. Furthermore, in 2021, the market in North America is evaluated to occupy the largest share in terms of revenue, owing to the well-developed healthcare infrastructure, accompanied by the increasing geriatric population in the region. Along with this, North America also leads in investment by manufacturing enterprises on hydraulic surgical tables, which is also expected to contribute to the market growth in the region. Alternatively, the market in Europe is also anticipated to occupy a significant share in the hydraulic surgical tables market on account of rising healthcare expenditure and high elderly population in the region.
The global hydraulic surgical tables market is further classified on the basis of region as follows:
Our in-depth analysis of the global hydraulic surgical tables market includes the following segments:
By Product Type
Ans: The increase in global healthcare expenditure, and the growing investment in sophisticated surgical tables to support hybrid operating rooms are the key factors driving market growth.
Ans: The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021-2029.
Ans: The high cost and lack of skilled operators to handle sophisticated surgical tables are estimated to hamper market growth.
Ans: The market in Asia Pacific region will provide ample growth opportunities owing to the developing healthcare infrastructure and the rising income levels in the region.
Ans: The major players dominating the hydraulic surgical tables market are Getinge, Hill-Rom Services, Inc., Skytron Corporation, and Steris Corporation among others.
Ans: The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by product type, end-user and region.
Ans: With respect to end-user, the general medical & surgical hospitals’ segment is anticipated to hold the largest market share owing to the greater rate of adoption of hydraulic surgical tables in general medical & surgical hospitals.