Image: The global patient positioning systems market is expected to reach USD 1.4 billion by 2025 (Photo courtesy of Medgadget).
The global patient positioning systems market was valued at USD 942.8 million in 2016 and is expected to grow at a CAGR of 4.7% during the 2014 - 2025 forecast period to reach USD 1.4 billion by 2025, driven by a growing geriatric population, rising incidence of cancer, increasing awareness among patients, and surge in expenditure on diagnostic procedures. Additionally, technological advancements in sensors, such as optic fiber technology, cancer tracking sensors, and MEMS sensors, are expected to further boost the market growth.
These are the latest findings of Grand View Research, Inc. (San Francisco, CA, USA), a market research and consulting company.
Based on product, the tables segment dominates the market with the largest share due to higher demand and increase in the number of hospitals, ambulatory centers, and other settings, such as specialty centers and diagnostics centers. The growing demand for efficient and accurate diagnostic imaging is creating growth opportunities for the tables segment and will help it to retain its lead during the forecast period. However, the accessories segment is projected to record the highest growth over the forecast period, led by the increasing number of patients undergoing different types of surgeries and diagnoses. Higher demand for diagnosis in the developing countries, such as India and China, is likely to drive sales of patient positioning systems in the coming years.
Based on application, the surgery segment holds the largest market share due to the increasing prevalence of chronic diseases, such as cancer. The increase in global healthcare expenditure is expected to further fuel the growth of the surgery application segment over the forecast period. However, the diagnostics segment is projected to record the highest growth over the forecast period, due to increasing expenditure on diagnostics/imaging, worldwide.
Based on end use, the hospitals segment accounts for the largest market share due to increasing healthcare expenditure, globally. The increasing number of hospitals across the world is expected to drive the demand for patient positioning systems in this end use segment. However, the ambulatory centers segment is projected to grow at a faster rate during the forecast period, driven by the increasing number of such centers in the developed as well as developing countries.
Based on region, North America dominated the global patient positioning systems market in 2016 with the largest share of 34.2%, due to the increasing prevalence of chronic and lifestyle-related diseases, advanced healthcare infrastructure and local presence of major market players in the region. Europe is also expected to hold a high market share during the forecast period due to the flourishing medical device industry in the UK, France, and Germany, as well as increasing growth opportunities for the market players in the region. However, Asia Pacific is expected to record the highest growth over the forecast period, due to the rising geriatric population and increasing healthcare expenditure in the region.
The major players in the global patient positioning systems market are focusing mainly on growth strategies, such as collaborations, mergers and acquisitions, and approvals to enhance their position and client base.
Grand View Research