Hospital Furniture Market to Acquire an Impressive 9.8% CAGR During the Forecast Period (2017-2023): MRFR

Hospital Furniture Market Research Report, By Type (Bedside Tables, Ot Table, Instrument Stands, Stretchers, Hospital Beds, Chairs, Scrub Sinks, Waste Container, Trolley), Application (Physician Furniture, Patient’s Furniture And Staff’s Furniture), End Users (Hospitals, Diagnostic Centres, Clinics)- Global Forecast Till 2027

Overview:

The hospital furniture market is gaining momentum with the exponential growth in revamping plans for hospital infrastructure. These renovation plans are well-guided by the latest technological development. Patient comfort and for the hospital staffs, ease of functional capabilities are of prime importance; to take it to the optimal level, advancing technologies are imparting useful components to the furniture. The global hospital furniture market can expect a hike in business by 9.8% CAGR during the forecast period (2017-2023), reveals Market Research Future (MRFR). The report further includes drivers such as the growing number of hospitals and clinics across the world, demand for greater efficiency in hospital function, and patient comfort that can impact the hospital furniture market expansion.

On the other hand, the high cost of furniture can pull back the expected growth rate of the hospital furniture market. At the same time, the demand for longer life span of these furniture just to curb the revamping cost can affect the hospital furniture market.

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Segmentation:

The Global Hospital Furniture Market can be segmented by type, application, and end-users.

On the basis of type, the hospital furniture market can be segmented into bedside tables, OT table, instrument stands, stretchers, hospital beds, chairs, scrub sinks, waste container, trolley, and others.

Application-wise, the hospital furniture market includes physician furniture, patient’s furniture, and staff’s furniture. Physician furniture is sub-segmented into examination table, surgery chair, and other. Patient furniture segment can be further segmented into stretchers, bedside table, and other. Staff’s furniture segment includes stands and other.

Based on end-users, the hospital furniture market is segmented into hospital, diagnostic centers, clinics, and others.    

Regional Analysis:

Analysis of the hospital furniture market on the basis of the region includes the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).

The Americas account for the largest amount of market share. The region has superior healthcare infrastructure and invests profusely for the upkeep of the same. These factors have impacted the market growth.

Europe is also having significant change owing to similar features like that of the Americas. The APAC region is recording significant growth, and it would be the fastest during the forecast period. Emerging economies are spending heavily to boost their healthcare infrastructure and governments are also taking necessary steps to uplift the healthcare segment. Furthermore, many countries in the region are emerging as a medical hub which is giving significant traction to the market.

Competitive Analysis:

Stryker Corporation (US), Bio Medical Solutions (India), KI (US), 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), Ocura Healthcare Furniture (UK), Moore Medical LLC (US), and others. These companies integrate merger, collaboration, product launch and other methods to keep the competition growing which also positively impacts the market growth.

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Industry Updates:

Hill-Rom recently came up with Hill-Rom 405 beds for hospitals. These beds have enhanced safety features to assist patients in their recovery path. The design facilitates easy and quick cleaning of the bed that would reduce the chances of infection.

In May 2018, XinChen Caster Wheels Company announced the development of a new device, central locking casters wheels for medical and hospital furniture use. The company has developed two new types – the double central locking and the single central locking.

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