Medical Furniture Market - by Products (Beds, Chairs, Trolleys & stretches, Tables and Cabinets & lockers), Material (Wood, Plastics and Metal), End-user (Hospitals, Home healthcare and Ambulatory surgical Centres): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2026

According to the report published by Zion Market Research, global demand Medical Furniture market was valued at approximately USD 6.2 Billion in 2019, and is expected to generate revenue of around USD 9.0 Billion by end of 2026, growing at a CAGR of around 5.7% between 2020 and 2026.

30-Sep-2020 | Number of pages: 110 | Report Code: ZMR-4100 | Report Format : | Status : Published

Abstract

According to the report published by Zion Market Research, global demand Medical Furniture market was valued at approximately USD 6.2 Billion in 2019, and is expected to generate revenue of around USD 9.0 Billion by end of 2026, growing at a CAGR of around 5.7% between 2020 and 2026.

Global Medical Furniture Market: Overview

Medical furniture is an indivisible component of any medical infrastructure. The phrase medical furniture comprises of all important goods and materials including stationary or movable assets used in hospitals and physicians’ office, either to help patients or doctors.

Global Medical Furniture Market: Growth Factors

The escalating number of hospital admissions is forecasted to boost the medical furniture market growth trends over the analysis timespan. Advancements in healthcare infrastructure in developed as well as developing countries are predicted to promote the medical furniture market growth over forthcoming years. Additionally, an increase in the frequency of chronic ailments such as diabetes and cancer is likely to trigger medical furniture market expansion over the years to come. Lifestyle changes have increased the risk of acquiring diseases that require surgical procedures and critical monitoring. This scenario has proved to be beneficial for business growth as it ultimately pops up and pushes the demand for medical beds, stretchers, and trolleys. However, the high costs of the products will put brakes on the growth of medical furniture market in the years ahead. Nevertheless, legislation favoring the use of medical furniture in hospitals and clinics has prompted players to introduce new beds and other medical furniture in hospitals & clinics. This, in turn, will promote the growth of medical furniture market across the globe.

Global Medical Furniture Market: Segmentation

The global medical furniture market can be classified into product, material, and end-user. On the basis of product, the market can be sectored into beds, chairs, trolleys & stretchers, tables, and cabinets & lockers. Based on the material, the medical furniture market can be divided into wood, plastics, and metal. On the basis of end-user, the market can be segmented into hospitals, home healthcare, and ambulatory surgical centres.

Global Medical Furniture Market: Regional Analysis

The large presence of hospital, as well as healthcare infrastructure in countries such as the U.S. and Canada, is predicted to propel the growth of medical furniture market in the near future. In addition to this, favorable demographic trends like increase in the aging population prone to chronic ailments in the region will boost the business growth during the estimated timeline.

Moreover, rise in the cases of infections and ailments as a result of poor hygienic conditions in the developing nations such as India will result in a rise in the number of hospitalizations, thereby resulting in huge demand for the product. This is expected to stimulate the growth of medical furniture market in the Asia Pacific region. Governments in India, China, and Australia are trying to improve the quality of life as well as the health of patients at hospitals by making superior quality medical furniture available in hospitals and ASCs, thereby further driving the growth of the medical furniture market.

European medical furniture market is slated to witness strong growth in the years ahead, owing to an increase in the number of physically handicapped individuals. Additionally, the growing occurrence of chronic ailments along with rise in the number of the aging populace will enhance the preference for medical furniture in the region.

Latin American medical furniture market revenue is slated to witness a massive rise in the years ahead. The inflation in the revenue can be attributed to strong infrastructural growth in countries such as Brazil.

Global Medical Furniture Market: Competitive Players

Some of the key players in medical furniture market are Getinge, Invacare Corporation, Hill-Rom Holdings, Philips Healthcare, Skytron, STERIS Corporation, Johnson & Johnson, GE Healthcare, Luxor, OMRON Corporation, Met-lak, Kovonax, Promotal, and Stryker.

Medical Furniture Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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