Back Table and Cart Covers Market to Register Steady 3.2% CAGR During 2019-2027: Transparency Market Research
Back table and cart covers market is on a high as growing demand for reusable sterilized back table drives growth. The rising awareness of hospital-acquired infections, and growing elderly population are expected to provide a major impetus for the market in key economies like the US
ALBANY, New York, Feb. 5, 2020 /PRNewswire/ -- The rising population, and expansion of healthcare sector around the world also promises new opportunities for players in the back table and cart covers market. The population around the continues to rise, with demand from emerging economies Asia Pacific registering a new high for baby carriages, cover carts with rising disposable incomes in the region.
According to recent UN estimates, 80% of the world's population will come from Asia and Africa by 2100. The rising population will also not witness a fall in these regions until 2100, according to the same estimates. The growing disposable incomes in the region are likely to make way for new baby products in the region, with a key emphasis on retail carriages, and back tables used for cosmetic, dentistry, and general purposes in hospitals.
Key Findings of the Back Table and Cart Covers Market Study
Green products continue to become increasingly appealing to consumers, especially in relation to baby carriages. The recent concerns about use of asbestos in construction, and increasing awareness about protecting children from artificial material is expected to drive growth for these products in near future.
The main material in the market currently constitute of polyethylene, polyester, and propylene which make up for 76% total market share. The growing environmental concern regarding these promise new opportunities for innovation.
There is growing demand for back tables, and cart covers, which can be used after the process of sterilization. These reusable tables are highly in demand, and currently constitute a very small share of the total market.
The large demand for reusable tables and cart covers are expected to provide a major impetus for the market to register its steady 3.2% CAGR growth during the 2019-2027 period.
Back table and cart covers Market: Key Driving Factors
The growing demand for medical supplies to cater to the elderly population in developed countries is expected to provide main impetus for growth. The rising elderly population is prone to chronic illnesses, and current programs like MEDICAID also make way for favorable reimbursement opportunities. The growth of products like kits, surgical covers, and rising awareness about hospital-acquired infections are expected to drive growth further.
The rise in cataract surgeries in United States for elderly is expected to make way for robust demand. Currently, the rate of cataract surgeries hovers around 4,000 to 10,000 per year. The rate is rising significantly in the US, Germany, France, Australia, and Japan. The rates of CRS vary between 500 to 2000 in Peru, India, and Vietnam among other countries.
Key Impediments for Table and Cart Covers Market Players
Heavy investments in research and development and growing complexity in medical products pose a challenge for growth in the back table and cart covers market. However, major players like DuPont, and Cardinal Health are making heavy investments in innovation to make way for non-woven disposable kits, and products. The prospects of rising elderly population are driving many new players to cater to their needs with appealing innovation. The emphasis for cost-effective, long-term use, and reusable products are growing amidst changing scenario in the healthcare sector.
The growing preference for medical tourism is expected to drive demand for bariatric surgery, dental treatments, and cosmetic surgeries in the country. The growing partnership between medical tourism industry, and healthcare sector will make way for new opportunities for growth. The medical tourism is expected to deliver robust growth in emerging region of Asia Pacific, and continues to receive strong impetus from regulatory authorities.
Black Table and Cart Covers Market: Region-wise Analysis
Black Table and cart covers market is expected to witness tremendous growth in North America, Asia Pacific, and Europe. Moreover, the market also promises rewarding opportunities in Middle East & Africa for new players, wherein expansion of healthcare, and growing funding mechanism are making way for new opportunities.
The rising incidences of cancer, and other chronic illnesses like HIV, are expected to make way for robust opportunities for growth for players in the back table and cart covers market. The expansion of MEDICAID for elderly patients also promises new opportunities for growth.
Asia Pacific is expected to register highest growth rate during 2019-2027 period, wherein rising disposable income, and increasing opportunities for expansion in India, and China are expected to drive tremendous growth for the market.
Back table and cart covers market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study.
According to the Transparency Market Research study, the key players in the market including 3M, Cardinal Health, Medline Industries, Inc., Halyard Health, SW Med-Source, David Scott Company, Lac-Mac Limited, TIDI Products, LLC Ansell Healthcare LLC are likely to continue their investments in innovations, thanks to bright forthcoming prospects.
Transparency Market Research has segmented the back table and cart covers market based on product, usage, end-users, and region.
Global Back Table and Cart Covers Market: Segmentation
Back Table and Cart Covers Market by Product
Back Table Covers
Back Table and Cart Covers Market by Usage
Back Table and Cart Covers Market by End User
Hospitals & Diagnostic Centers
Academic & Research Institutes
Back Table and Cart Covers Market by Region
Middle East & Africa (MEA)
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