The report titled “Hospital Furniture Market -Forecast to 2027″ is a direct appreciation by Market Research Future of the market potential of the Hospital Furniture Market. The report intends to provide accurate and meaningful insights, both quantitative as well as qualitative. It can be said with high confidence level, that this report will satisfy the need for comprehensive insights needed to compete and beat other players in today’s winner takes all market! Global hospital furniture market is expected to grow at a CAGR of 9.8% during forecasted period from 2017-2023.
MarketResearchFuture.com adds “Hospital Furniture Market -2018 Global Analysis, Growth, Trends and Opportunities Research Report Forecasting to 2027” reports to its database.
Stryker Corporation (US), Bio Medical Solutions (India), KI (US), GPC Medical (India), Anetic Aid Limited (UK), DRE INC (US), Bristol Maid Hospital Metalcraft (UK), The Brewer Company (US), GPC Medical Ltd (India), Chang Gung Medical Technology (China), Hill-Rom (US), Narang Medical (India), Beaver Healthcare Equipment (UK), Renray Healthcare Ltd. (UK), Moore Medical LLC (US), Beaver Healthcare Equipment (UK) are some of the prominent players at the forefront of competition in the Global Hospital Furniture Market and are profiled in MRFR Analysis.
Global Hospital Furniture Market – Overview:
Hospital furniture is the most important part of the hospitals. This comprises of all the essential aspects used in hospital either by physician, staff or patient. Many of the hospital develop their furniture to attract the patient. The major factors responsible for the growth of global hospital furniture market is increasing number of hospitals and clinics across the globe. Increasing prevalence of different chronic diseases and increasing expectation of the patients toward the hospital infrastructure had also contributed in growth of the market. Continuous development in technology and introduction of eye surgery chair and advances hospital stretchers has provided fuel for the growth of the market. Whereas high cost and need of long life furniture has hamper the growth of the market.
Global hospital furniture is expecting a healthy growth in coming future. Increasing number of hospitals, rising patient population, continuous developments in healthcare infrastructure and increase in spending of the hospitals on the infrastructure has provided fuel for the growth of the market. Whereas high cost and less life of furniture has restrained the growth of the market. America accounts the largest market share in global hospital furniture market owing to well-developed medical sector and increasing healthcare expenditure. According to World Health Organization (WHO), by 2014 United States has approximately 6,900 hospitals and this number is continuously increasing. Europe accounts for the second largest market for hospital furniture which is followed by Asia Pacific. Growth of Asia Pacific hospital furniture market is anticipated due to rapidly growing healthcare sector, presence of huge patient population and increasing hospital spending on their infrastructure and appearance. China and India are the major contributors for the market. China, which ranks number one, has approximately 69,105 hospitals and clinics and India has just over 22,000 hospitals by 2014. Continuous increasing number of people suffering from different diseases and increasing number of hospitals and clinics in this region is the major factor for the growth of the market.
Global hospital furniture market is expected to grow at a CAGR of 9.8% during forecasted period from 2017-2023. According to a recent study report published by the Market Research Future, the global Hospital Furniture market is booming and expected to gain eminence over the forecast period. The market is forecasted to demonstrate a spectacular growth by 2023, surpassing its previous growth records in terms of value with a prominent CAGR during the anticipated period (2017 – 2023).
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Global Hospital Furniture Market – Competitive Analysis:
The market for hospital furniture is characterised by the presence of several well-established and small players, the global market of hospital furniture appears to be highly competitive and fragmented. Major players are increasingly expanding their footprint in the emerging nations, making it putting pressure on the regional players, especially in terms of features such as type, product portfolios, and pricing. The market is witnessing intensified competition which is expected to get more intensified further during the forecast period. Hospital furniture market is a saturated market due to the presence of many local and multinational players. Number of different products are available into the market and so key players are trying to focus on acquisition and strategic alliances with local companies to minimize the competition.
New product launch is a business strategy adopted by the companies in this market. For instance, in September 2015, Stryker Corporation completed the acquisition of Muka Metal, A.S. Muka is a privately held business headquartered in Kayseri, Turkey that sells hospital beds, stretchers and related patient room furniture and accessories that serve markets across Turkey and other regions globally. The acquisition of Muka aligns with act as a strategy to expand Styker’s global presence through existing channels with an established and trusted brand.
The market for Hospital Furniture is segmented in mainly two parts i.e. by Type, by end users and its various sub-segments; by type include Hospital Bed, Hospital Chair, Hospital Table, Hospital Trolley and others. Whereas by End Users include Hospitals, Clinics, Path Labs and others.
The report for Hospital Furniture of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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