The global hospital furniture market size was significantly robust in 2022 and is expected to register a steady revenue CAGR over the forecast period. The growth of well-furnished, well-equipped, and innovative infrastructure in hospital settings is being aided by increased financing for enhancement of healthcare infrastructure. In the same way, a steady increase in number of private hospitals in underdeveloped and developing nations would boost market growth in the future years.
The most significant sector and feature of hospitals is hospital furniture. This includes all significant features of a hospital that are used by doctors, patients, or hospital employees. To attract patients, a number of hospitals design their unique furniture. Growing number of hospitals around the world is one of the main drivers of global hospital furniture market. Increasing prevalence of numerous chronic and acute diseases, as well as patients’ high expectations of hospital infrastructure, are some of the key factors driving market expansion.
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Major Factors Driving Growth Of The Global Hospital Furniture Market:
Need for medical furniture will be boosted to a greater level as the number of hospital admissions increases and the number of Covid-19 cases rises around the world. Patient admissions are increasing in emergency departments, owing to a massive increase in emergency visits, as well as a higher risk of acute conditions including heart attacks and strokes, as well as the present Covid-19 eruption. Medical furniture contains high-quality items like beds and surgical tables that aid in treatment and recovery of patients with various chronic illnesses. As a result, demand for high-quality medical infrastructure is outpacing rest of the business.
Factors Restraining Growth Of The Global Hospital Furniture Market:
Global Hospital Furniture Market growth is substantially hampered by several unfavorable factors. The increase in the cost of medical furniture, among other things, would block market expansion and will pose a further obstacle to the growth of the hospital furniture market in the forecast period. Over the projection period, issues such as high cost of medical furnishings and lack of understanding about healthcare in certain developing nations are limiting market expansion.
Opportunities For Players Operating In The Global Hospital Furniture Market:
The recent global outbreak of Covid-19 had a substantial influence on entire value of medical furniture sector. The number of people who require advanced medical equipment and critical care has skyrocketed. Current Covid-19 outbreak has also resulted in an increase in number of patients with various respiratory illnesses, as well as other comorbidities. As a result of increased need for medical furniture to meet demands and comfort of patients, industry has seen various chances for growth.
Global Hospital Furniture Market Revenue Led By Material Type Segment:
Based on material type, wood segment is expected to dominate the market across the forecast period. For efficient equipment storage, government hospitals use a range of wooden seats, wooden compartments, beds, and cupboards. Preferences for wooden furniture prove advantageous for market expansion due to the limited number of resources in public and government hospitals. Wooden chairs enhance patient comfort and flexibility, allowing for better relaxation, resulting in a higher adoption rate.
Global Hospital Furniture Market Leading End-Use Segment:
Based on End-Use, ambulatory surgical centres are expected to dominate market across the forecast period. Ambulatory surgical centers (ASCs) are becoming more popular among patients and clinicians due to their ability to execute difficult surgeries in a short amount of time. The majority of surgical operations performed in ambulatory surgery centres are covered by insurance. Similarly, it alleviates patients’ concerns about affordability by increasing market value at lower or minimum income levels. In addition, growing number of chronic illnesses requiring critical care and good patient management at regular intervals in ASCs will boost industry income.
North America Accounts For Largest Revenue Share In Global Hospital Furniture Market:
North America is expected to dominate the hospital furniture market across the forecast period. The rising prevalence of chronic diseases like diabetes, obesity, and others, which result in hospitalizations, would drive up demand for medical furniture. Government measures, such as reimbursements for medical furniture and other equipment, are credited with considerable market share. Furthermore, growing number of hospitals, clinics, and ASCs in the United States and Canada will increase demand for medical furniture.
The market benefits from the strong footing of industry players like Invacare and others, as different participants offer superior quality medical furniture goods for optimal patient care, accelerating industry growth.
Asia Pacific Continues To Lead In Terms Of Revenue CAGR:
The Asia Pacific Hospital Furniture Market is expected to register the fastest growth in CAGR over the forecast period. Presence of rapidly growing economies is driving expansion of the Asia Pacific market. Furthermore, technological advancements, launch of novel furniture, and favorable demographic trends, such as an increase in senior population, are all boosting market expansion in this region. In addition, the governments of India and China are taking deliberate steps to ensure that top quality medical furniture is available in hospitals and diagnostic centers.
Major Companies Profiled In The Report:
- Paramount Bed
- StrykerLinet Group
- France Bed
- Bazhou Greatwall
- EME Furniture
Strategies And Objectives Of Major Companies:
- Invacare released Ocean Ergo in October 2023, which includes six new modular shower chair commodes that are specifically designed to improve user freedom, comfort, and safety. The company was able to increase its existing medical furniture product assortment as a result of the product launch.
- In May 2023, LINET exhibited its advancements to the professional community at an event held in Hong Kong Medical Devices and Supplies. This strategy broadened company’s present medical furniture products.
What Our Report Provides And Why Our Offering Is Better:
This report offers historical data points and forecasts and revenue growth at a global, regional, and country level, and provides analysis, industry trends, and consumption pattern details for each region, major country, and segment from 2023 to 2032. The global market report includes industry trends, drivers, restraints, opportunities, threats, market strategies, segment revenue, and market share contribution by each regional and country market. In addition, the report offers industry analysis and competitive landscape, company financials, and impact analysis. The report includes a detailed view of the global market, along with changing dynamics and trends, scenarios, detailed market and regional segmentation, regional landscape, analysis and evaluation, major investments, product offerings, product launches, and details of historical, current, and projected revenues
Detailed Segmentation In Our Report:
For the purpose of this report, the global Hospital Furniture Market is segmented on the basis of product type, material type, application/ end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2023-2032)
- Hospital Bed
- Hospital Chair & Bench
- Hospital Cabinets
- Hospital Screen
- Hospital Trolley & Cart
Material Type Outlook (Revenue, USD Billion; 2023-2032)
Application/ End-use Outlook (Revenue, USD Billion; 2023-2032)
- Ambulatory Surgical Centres
Region Outlook (Revenue, USD Billion; 2023-2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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