The patient positioning system market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research predicts the market will reach $992.3 million by 2027 growing at a CAGR of 4.8% during the forecast period.
Grand View Research reports that the global patient positioning systems market size was valued at $942.8 million in 2016 and is expected to expand at a CAGR of 4.7% through 2025. The growing geriatric population, increasing prevalence of cancer, rising awareness among the patient population and surging expenditure on diagnostic procedures are expected to boost the patient positioning systems market during the forecast period.
Technological advancements in sensors, such as optic fiber technology, cancer tracking sensors and MEMS sensors are expected to fuel market growth. These systems help keep patients in a comfortable and stable position during radiotherapy as well as treatment delivery. The growth of this market is further supplemented by the increasing prevalence of cancer.
By end-use, the market for patient positioning systems is categorized into hospitals, ambulatory centers and others. Hospitals are identified as the largest segment owing to increasing health care expenditure globally. Additionally, increasing the number of hospitals across the globe is anticipated to drive demand in this market.
However, the ambulatory segment is expected to grow at a faster rate. As the number of these centers soars in developed as well as developing countries, they help alleviate the pressure on hospitals and clinics. There are approximately 5,229 Ambulatory Surgical Centers (ASCs) certified by Medicare in the U.S.
North America held a dominant market share of 34.2% in 2016 owing to the rising prevalence of chronic and lifestyle-related diseases and the presence of sophisticated health care infrastructure. In addition, the local presence of major market players in the U.S., such as Hill-Rom Holdings, Inc.; Stryker Corporation; Medline Industries; Skytron, LLC; and SchureMed, is expected to boost the growth of the market for patient positioning systems in North America.
Europe is also expected to hold a lucrative share during the forecast period due to a flourishing medical device industry in U.K., France and Germany, in addition to rising avenues for market participants in this region. Asia Pacific is expected to register a higher CAGR as compared to other regions over the forecast period, which can be attributed to the increasing geriatric population and increasing health care expenditure in this region.
Some of the major players in this space are Medtronic; Hill-Rom Holdings, Inc.; Stryker Corporation; Medline Industries; Skytron LLC; OPT SurgiSystems Srl; SchureMed; Smith & Nephew; STERIS plc; and Leoni.