According to a report published by Grand View Research, Inc.; the patient positioning systems market is likely to reach a valuation of around USD 1.4 billion by 2025.
Factors such as rising geriatric population, high prevalence of cancer, increasing awareness among the patients and increasing expenditure for diagnostic procedures can propel the market during the forecast period (2014 to 2025).
Growing cases of most common types of cancers such as colon and rectum cancer, prostate cancer, and breast cancer is likely to boost the market growth in the coming years. The prevalence of cancer is likely to reach 15 million new cases per year through 2020, according to the World Cancer Report published by the WHO. Rise in innovation has lead to improvement in accuracy and efficiency of these system in cancer therapy. These products intended to keep patients steady and comfortable during radiotherapy. This is likely to support the market growth. Additionally, technological progressions in sensors including MEMS sensors, cancer tracking sensors, and optic fiber technology is likely to spur the market growth in the future.
Full Research Report On Patient Positioning Systems Market Analysis: https://www.grandviewresearch.com/industry-analysis/patient-positioning-systems-market
Worldwide patient positioning systems can be segmented on the basis of product, application, end-use, and regions. As per product, the market can be categorized into tables and accessories. In 2016, tables segment estimated lucrative market share due to growing incidence of cancer and highest number of surgeries performed. Based on application, the market can be split into surgery, diagnostics, and other. The surgery segment is likely to hold major market share over the forecast period. However, the diagnostics segment is projected to grow at a lucrative rate during the estimated period owing to growing expenditure for diagnostics/imaging. Majority cardiologists and oncologists in the U.S. and Germany recommend diagnostics tests and design treatment plan after studying test results, according to a research published by NCBI. This is likely to boost the segment growth.
On the basis of end-use, the market can be fragmented into hospital, ambulatory centers, and other.
Hospitals segment is recognized as the major segment due to rising healthcare expenditure and growing number of hospitals across the world.
The ambulatory segment is likely to show highest growth during the forecast period due to development of accurateness of minimally invasive technologies. There are about 5,229 ambulatory surgical centers (ASCs) certified by Medicare in the U.S.
Geographically, the market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa (MEA).
In 2916, North America captured the major market share of 34.2%. It is expected to be the largest market over the forecast period. Factors such as growing incidence of chronic and lifestyle diseases, availability of established healthcare infrastructure, presence of large number of diagnostic centers are driving growth in the region. Additionally, presence of major market participants in the U.S is also expected to supplement the growth in the region. In 2016, 1,685,210 new cases of cancer diagnosed with cancer in the U.S according to National Cancer Institute. Rising prevalence of cancer has increased the R&D investment in the market.
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Europe is likely to show lucrative growth during the forecast period. This can be associated with growing medical device industry in U.K., Germany, and France. During the year 2016 to 2017, approximately 42.1 million diagnostics imaging tests conducted in the U.K, as per National Health Services (NHS). Growing efforts to run awareness campaigns concerning early cancer diagnosis such as the National Awareness and Early Diagnosis Initiative (NAEDI) in the U.K. is predicted to increase the demand for diagnostic imaging procedures, which is expected to support the market growth.
Asia Pacific is expected to exhibit a higher CAGR as compared to other regions during the estimated period due to growing geriatric population and rising budget for healthcare.
Key companies operating in the market include Hill-Rom Holdings, Inc.; Smith & Nephew; Skytron, LLC; Medtronic; and Medline Industries.
Market participants are increasingly following strategies like mergers and acquisitions, collaborations, mergers and approvals for new products.
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