The global patient positioning system market is contrast to the US$ 1.25 Billion in 2022, the market for patient positioning systems is predicted to reach a significant market value of US$ 1.8 Billion in 2032. The market was estimated to be worth US$ 1.2 billion in 2021, growing at a Y-o-Y rate of 4.1% for the following year (2021–2022).
Increasing cancer rates and the swift growth of the healthcare industry in developing nations are anticipated to be major market drivers during the forecast period.
The market is anticipated to have considerable growth over the course of the projected period as a result of an expanding elderly population and an increase in cancer occurrence. According to the WHO, cancer will be responsible for almost 10 million deaths in 2020, or one in every six.
Ongoing technical advancement in the healthcare system is expected to drive the market in the coming period. Advancements in technologies such as; cancer tracking sensors, optic fiber, and MEMS sensors are likely to augment the market size. Players in the market are focusing on launching advanced products. For instance, in 2020, Elekta, a Swedish player, announced its new product called Elekta Harmony linear accelerator. It is a modern cancer treatment system with a shorter treatment slot of up to 25% and a 30% smaller footprint.
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“Rising prevalence of chronic ailments and the expanding geriatric population across the globe is expected to drive the growth of patient positioning system market. Also, the ongoing development in the healthcare sector is another salient cause strengthening the industry.”
The emergence of an AI-based patient positioning system for analyzing and comparing the imaging workflow is projected to display avenues of expansion. Renowned entities in the market are focusing to launch new products which will benefit the market notably in the coming period.
In March 2021, Royal Philips rolled out its AI-based Precise Suite solution for its Incisive CT platform. The equipment aims to provide advanced workflow from image acquisition through reporting with AI-based image reconstruction, motion-free cardiac image capture, and automated patient positioning.
On the contrary, a lack of adequate infrastructure is anticipated to hinder the market growth during the forecast period. Also, only a limited number of healthcare institutions in developing and underdeveloped nations can afford to implement modern techniques in their equipment. However, with the increased launch of advanced products, the global market is expected to benefit. For instance, FDA-approved ORION is an operable system solution that connects all software and hardware elements. The system reduces the per-patient treatment cycle by offering the scope of preparing the patient outside the treatment room through a tool changer.
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Key Takeaways from the Market Study
- By application, the surgeries segment is anticipated to dominate the patient positioning system market at a CAGR of 3.7%
- On the basis of end-user, the hospital segment is predicted to record a CAGR of 3.6% from 2022- to 2032
- The patient positioning system market in the US is expected to garner US$ 627 Million by 2032
- The Chinese patient positioning system industry is anticipated to expand at a CAGR of 4% by 2032
- The patient positioning system market in Japan is projected to garner US$ 108.9 Million by 2032
- The patient positioning system market in South Korea is predicted to experience a CAGR of 3.1%
Competition Analysis
Key players in the global patient positioning system market include Hill-Rom Holdings, Medtronic plc, Inc., Medline Industries, Stryker Corporation, LP, and Skytron, LLC. Recent key developments in the market are:
- In November 2020, Stryker Corporation announced the acquisition of Wright Medical Group, an eminent medical equipment provider focused on biologics and extremities.
- In June 2021, Blackstone, Hellman & Friedman, and Carlyle concluded a deal to buy Medline Industries for over US$ 30 Billion. The transaction is valued at US$ 34 Billion and north of US$ 30 Billion excluding borrowings.
- In September 2021, Baxter International Inc., a known MedTech leader, disclosed that it had accomplished the acquisition of Hillrom. Baxter paid US$ 156 in cash for every outstanding share of Hillrom common stock at US$ 10.5 billion. The transaction took place at US$ 12.5 Billion.
Key Segments Profiled in the Global Patient Positioning System Market
Patient Positioning System Market by Product:
- Patient Positioning System in Tables
- Patient Positioning System in Surgical Tables
- Patient Positioning System in Radiolucent Imaging Tables
- Patient Positioning System in Examination Tables
- Patient Positioning System in Accessories
Patient Positioning System Market by Application:
- Patient Positioning System in Surgeries
- Patient Positioning System in Diseases Diagnosis
- Patient Positioning System in Cancer Therapy
Patient Positioning System Market by End User:
- Patient Positioning System in Hospitals
- Patient Positioning System in Ambulatory Surgery Centers
- Patient Positioning System in Diagnostic Laboratories
Patient Positioning System Market by Region:
- North America Patient Positioning System Market
- Europe Patient Positioning System Market
- Asia Pacific Patient Positioning System Market
- Middle East and Africa Patient Positioning System Market
- Latin America Patient Positioning System Market
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