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Global Surgical Lighting System market showcased rapid growth over the past few years and is likely to grow in another 6-7 years of time. Expanded GDP % allocation towards healthcare system has helped the Surgical Lighting System market considerably to reach new level in past five years. In 2017, the EU-28 total expenditure reached USD 1,216 billion i.e. 7% of the total GDP- second largest expenditure after social protection. Hospitals services bargained for whopping 3.2% of GDP, medical equipment/products/appliances for 1% of the GDP and outpatient services for 2.2% of the GDP. In the same year, the highest healthcare expenditure was reported by Norway (8.5% of GDP), Denmark (8.4% of GDP), Austria (8.2% of GDP), followed by France (1% of GDP). Based upon all the factors combined together, the market demand for Surgical Lighting System is estimated to observe spiked growth in another 6-7 years.
Further, Asia-Pacific has emerged as a big market for the consumption of Surgical Lighting System . Positive GDP rate, continuous increase in % share of GDP towards healthcare spending, spiked healthcare tourism owing to low cost involved especially in the Philippines, India, Indonesia and Thailand, higher penetration rate of health insurances etc. have allowed the Asia market to be a right place for existing and new players. The market study offers extensive assessment on market scope, as well as the growth per annum for global Surgical Lighting System market in terms of revenue, market segmentation, and various dynamics such as drivers stimulating the growth of the market, market restraints, opportunities and trends dominant in this market that are collectively impacting the growth of the market. The global Surgical Lighting System market is likely to attain considerable absolute $ opportunity value in 2026 as compared to the value achieved in 2019.
Worldwide Surgical Lighting System market study consists of risk analysis covering supply and demand risk affecting the growth of the market. Further, the report covers a section on correlation and regression analysis displaying the relationship between independent and dependent variables. The global Surgical Lighting System market includes a separate section on macro-economic indicators impacting the growth of this market.
In 2016, the U.S. per capita healthcare expenditure amounted to USD 9,870 and observed a growth of 3.6% as compared to previous year. The healthcare expenditure per person in the country has grown at a CAGR of 4.5% over the period 2013-2016. U.S. is the top country by government expenditure on health per capita based on Purchasing Power Parity (PPP) across the globe. As of 2016, government expenditure on health per capita based on PPP in the U.S. was 8,078 US dollar, marking a growth of 3.5% in the same year. This has strengthened the Surgical Lighting System market in the country over the past few years. However, in order to give boost to country’s defence budget (USD 750 billion), the budget proposal by Donald Trump’s administration in May 2019 show a cut of USD 845 billion from Medicare- a health programme that Trump’s administration promised to leave untouched previously. Out of which, about 10% cut would be achieved by lowering down the prescription drug cost and managing service providers payments. In addition to this, Medicaid programme also witnessed considerable slash through various structural reforms. If Donald Trump administration’s policy remain unchanged, a direct burden is expected to be seen on the consumer’s pocket and this may hamper the growth of Surgical Lighting System market in near future. Even-after the cut in healthcare spending, the U.S. market, when compared to other countries globally would still remain lucrative for businesses and service providers.
In the fourth quarter of 2018, Germany Personal Disposable Income reached USD 560 Billion from USD 553 Billion in the third quarter of the same year. Personal Disposable Income in Germany touched an average of USD 250.4 Billion from 1960 until 2018, all-time high of USD 560 Billion in the fourth quarter of 2018 since 1960 from a record low of USD 25.5 Billion in the first quarter of 1960. In addition to this, France somehow managed with a slight decline of 0.5% in the personal disposable income amounting to USD 411 Billion in the first quarter of 2019 as compared to previous year at USD 408 Billion in the fourth quarter of 2018.
A separate section in the report highlights regional scenario in market which includes North America (further segregated into U.S. and Canada).
The report further includes a section on European region which is further segmented on a country/regional level including Germany, U.K., France, Italy, Spain, BENELUX, Netherlands, NORDIC, Poland, Hungary, Russia, Turkey, and Rest of Europe.
In the Asia Pacific Surgical Lighting System market, the report studies China, India, South Korea, Indonesia, Malaysia, Japan, Australia, New Zealand and Rest of Asia Pacific. In the Latin America section, an in-depth analysis on Mexico, Brazil, Argentina and Rest of Latin America is covered. Middle East and Africa region have been further identified for the Surgical Lighting System market demand and segregated into Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa and Rest of Middle East and Africa.
A complete section on competitive landscape provides an understanding of the companies in current strategic report based upon various parameters which includes overview of the company, business strategy, major product offerings, key performance indicators, risk analysis, recent development, regional presence and SWOT analysis. There is a separate section which has been provided on the market share of key players in this market, as well as the competitive positioning of the players.
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