Operating tables are medical devices used to position and support a patient's body during surgical procedures. Operating tables provide proper ergonomic positioning and support services for surgeons, anesthetists, and other surgical staff during complex surgical procedures. The rise in chronic diseases and the increasing number of surgeries is boosting the demand for technologically advanced operating tables which facilitate complex surgical procedures.
Market Opportunity:
The increasing number of complicated surgeries presents a major market opportunity for operating table manufacturers. According to the Center for Disease Control and Prevention (CDC), in 2019, over 51 million surgical procedures were performed in the United States alone. With the increasing elderly population suffering from various lifestyle diseases, the number of complicated surgeries is expected to grow significantly over the forecast period. Technologically advanced operating tables incorporated with advanced features like tilt functions, sliding functions, and electric system for positioning patients provide convenience to surgeons and better surgical outcomes. Manufacturers providing operating tables with advanced features tailored for different surgical specialties can gain a competitive advantage in the market.
Porter's Analysis
Threat of new entrants: Low economies of scale in manufacturing and stringent regulations from regulatory bodies pose high entry barriers for new players.
Bargaining power of buyers: Large number of buyers in hospitals and clinical setups gives them higher negotiation power on prices.
Bargaining power of suppliers: Established manufacturers with specialized expertise make it difficult for buyers to substitute suppliers.
Threat of new substitutes: Technology advancements have led to newer equipment like robotic surgical tables offering increased mobility and accuracy.
Competitive rivalry: Intense competition exists among key players to offer differentiated products with enhanced features and expand geographical reach.
SWOT Analysis
Strengths: Operating tables offer specialized functional and ergonomic features required for surgeries. Innovation and customization help address unique surgical requirements.
Weaknesses: High costs of technologically advanced operating tables limit adoption in low resource settings and smaller hospitals. Equipment maintenance requires technical expertise.
Opportunities: Expanding healthcare infrastructure in developing nations presents new market avenues. Growing geriatric population will increase demand for age-related surgeries.
Threats: Economic slowdowns can delay capital equipment purchases. Stringent regulatory standards necessitate compliance, increasing costs.
Key Takeaways
The Global Operating Table Market Growth is expected to witness high over the forecast period driven by increasing disease prevalence, rising healthcare spending, and launch of advanced technology operating tables.
Regional Analysis: The North American region currently dominates the market and is expected to continue its lead driven by well-developed healthcare infrastructure, rising medical tourism, and growing bariatric surgical procedures in the region.
Key players operating in the operating table market are Avery Dennison, 3M, Henkel, UPM Raflatac, CCL Industries, WS Packaging Group, Constantia Flexibles, R.R. Donnelley & Sons, Mondi, Amcor, Seiko Holdings, Reflex Labels, Coveris Holdings, Lintec Corporation, Stickythings, Torraspapel Adestor, Polylabel, Multi-Color Corporation, Secura Labels, Etisoftware. These players are focusing on new product launches that offer enhanced flexibility, durability, and functionality. For instance, in 2023, Avery Dennison launched its new line of anti-microbial adhesive labels for medical equipment to prevent the spread of infections.
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