WASHINGTON, March 07, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Medical Workstations Market finds that technologically advanced and affordable systems in healthcare sector are expediting market growth. Primarily driven by increasing usage of medical workstations for maintaining the healthcare records, information flow, and accurate diagnosis, the total Global Medical Workstations Market is estimated to reach USD 7.5 Billion by 2028.
The Global Market stood at a revenue of USD 4.9 Billion in the year 2021, and expected to grow at a Compound Annual Growth Rate (CAGR) of 7.2%.
Furthermore, the growing demand for early and effective patient diagnosis is also anticipated to augment the growth of the Global Medical Workstations Market, states Vantage Market Research, in a report, titled “Medical Workstations Market by Type (Wall Mounted Workstations, Medical Computer Workstations, Medical Imaging Workstations), by Application (Anesthesia, Emergency, Procedure, Others), by End-Use (Hospitals, Ambulatory Surgical Centers, Physician Clinics, Others), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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List of Prominent Players in the Medical Workstations Market:
- General Electric Company (US)
- Koninklijke Philips N.V. (Netherlands)
- Siemens AG (Germany)
- Fujifilm Holdings Corporation (Japan)
- Canon Medical Systems Corporation (Japan)
- Carestream Health (US)
- Hologic (US)
- Carl Zeiss Meditec AG (Germany)
- Accuray Incorporated (US)
- Capsa Healthcare (US)
- Ampronix (US)
- Medicor Imaging (US)
- NGI Group (France)
- Alma IT Systems (Spain)
- Pie Medical Imaging (Netherlands)
Market Dynamics:
Increasing Managing Patients Efficiently to Fuel Global Medical Workstations Market
The growing popularity of advanced technologies such as tele-telemedicine or telehealth, along with the rising need to curtail mounting hospital costs, and boost medical workstations' market share over the coming years. A growing phase of the retirement of several doctors may also develop lucrative opportunities for medical workstations market growth. The lack of primary care physicians in the U.S. is expected to be 45,000 by the end of the year 2020. This may increase the adoption of medical workstations for managing more patients efficiently. Moreover, the growing adoption of developed healthcare facilities for better patient care will also promote medical workstations market trends through 2027.
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Increasing Chronic Diseases are Increasing Drastically to Stimulate the Market Growth
A growing number of outpatients, as well as ambulatory imaging centres, is expected to drive the demand for medical imaging workstations during the predicted period. Rising demand for reasonable diagnostic options in isolated rural areas is expected to fuel the market growth lucratively during the forecast period. The age of onset of chronic diseases such as stroke, cancer, diabetes, and heart diseases are increasing drastically. Along with age-related diseases, the rising number of lifestyles related to chronic diseases is anticipated to boost the demand for preventive diagnostic devices. According to the National Centre for Chronic Disease Prevention and Health Promotion, around 60% of Americans are currently living with at least one chronic disease. Growing awareness about preventive healthcare, the introduction of promising reimbursement guidelines for preventive diagnosis, and the launch of advanced devices are the factors attributed to the swift market growth.
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the healthcare industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
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The report on Medical Workstations Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
North America Dominates the Global Medical Workstations Market
Asia Pacific has dominated the Global Medical Workstations Market in 2021 and is likely to continue the same trend during the forecast period. This is attributable to the undergoing a steep rise in medical facilities such as the development of imaging centres and hospitals across the region. Furthermore, promising government initiatives and the offering of budgets for research are also anticipated to support the regional growth of the market.
North America is likely to witness fastest growth in the Medical Workstations Market during the forecast period. This is attributable to the improving healthcare infrastructure in economies like the U.S., and Canada in the region. Additionally, favourable reimbursement systems and the growing adoption of digital outlets for diagnosis are also expected to support the growth of the Medical Workstations Market in near future.
Recent Developments:
February, 2020: Ergotron, a global movement company that builds environments that help people thrive, has partnered with Ingram Micro China to donate medical carts to two hospitals in Wuhan, China, the city at the epicentre of the recent novel coronavirus outbreak. The carts were provided to Huoshenshan and Leishenshan hospitals emergency facilities built in just days to help contain the spread of the virus.
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Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Medical Workstations Market?
- How will the Medical Workstations Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Medical Workstations Market?
- What is the Medical Workstations market drivers and restrictions?
- What will be the CAGR and size of the Medical Workstations Market throughout the forecast period?
This market titled “Medical Workstations Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Report Attribute | Details |
| Market Size in 2021 | USD 4.9 Billion |
| Projected Market Size in 2028 | USD 7.5 Billion |
| CAGR Growth Rate | CAGR of 7.2% From 2022 – 2028 |
| Base Year | 2021 |
| Historic Years | 2016 - 2020 |
| Forecast Years | 2022 - 2028 |
| Segments Covered | Type • Wall Mounted Workstations • Medical Computer Workstations • Medical Imaging Workstations Application • Anaesthesia • Emergency • Procedure • Others End-Use • Hospitals • Ambulatory Surgical Centers • Physician Clinics • Others |
| Quantitative Data - Units | Revenue in USD Million/Billion and CAGR from 2022 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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