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Global Medical Furniture Market Competitive Landscape and Value Chain Analysis and Forecast 2019-2025

Author : Rahul Sankrityayan | Published Date : 2019-04-18 

The Medical Furniture Market is set to exceed USD 8.5 billion by 2025; according to a new research report by Global Market Insights. Increasing number of hospital admissions is forecasted to boost the market growth during the analysis period. Growing number of hospital admission is associated with the rising prevalence of chronic diseases and orthopedic disorders requiring surgical procedures. Surgical procedures increase length of stay of patients in hospitals that significantly impacts industry growth. Improvement in hospital infrastructure has raised the number of hospital admissions thereby, positively impacting the demand of medical furniture.

Favorable regulations enforced on the key industry players operational in medical furniture market has propelled the industry growth in forthcoming years. Companies such as Stryker, Invacare and GE Healthcare focus on introducing innovations in the beds and other medical furniture required in hospitals and ASCs. Recently developed beds are automated and significantly reduce human labor. For instance, in 2015, Invacare launched superior quality adaptive medical furniture including electric long-term acute beds. Therefore, availability of innovative medical furniture developed by major players augments the Medical Furniture Market growth. However, high cost of medical furniture may hamper industry growth to some extent.

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Cabinets and lockers segment held 5.3% revenue share in 2018 and is expected to have considerable growth owing to its increasing demand in hospitals and ambulatory surgical centers. Cabinets and lockers are usually utilized to safeguard patient’s belongings. Recently developed stainless steel cabinets hardly require any maintenance and also last longer without any wear and tear that escalates its preference. Above mentioned factors will drive the segmental growth over forecast timeframe.

Wood segment is expected to have 5.3% growth throughout the analysis timeframe owing to adoption of wooden material in manufacturing furniture utilized for administrative purposes in hospitals. Wooden chairs are extensively preferred as they are durable and require minimum maintenance. Also, wooden medical furniture is light in weight as compared to metal furniture that further elevates its adoption.
 
Home healthcare segment of medical furniture market is expected to show 6.1% growth during analysis timeframe. Rising geriatric population is one of the key factors driving the segmental growth. As per World Population Ageing 2017 report, approximately 962 million global population is aged 60 years or above. Geriatric population mostly prefer home care treatments that are quite cheaper as compared to hospitals that raises the demand for medical furniture such as beds and trolleys in home healthcare.

Europe medical furniture market held 33.7% revenue share in 2018 and regional market growth is driven by rising number of  physically challenged people. Additionally, rising prevalence of chronic conditions coupled with a growing number of elderly people will boost demand for medical furniture. Also, mounting focus of European government on providing access to high-quality and safe health care for all citizens support development in hospitals. Thus, such initiatives and projects implemented by regulatory authorities will foster regional growth.

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Chapter 1.  Methodology

1.1. Methodology   

1.2. Market definitions

1.3. Forecast parameters

1.4. Data sources

1.4.1.  Secondary

1.4.1.1. Paid sources

1.4.1.2. Unpaid sources   

1.4.2.  Primary

Chapter 2.    Executive Summary

2.1. Medical furniture industry 3600 synopsis, 2014 - 2025

2.1.1.  Business trends

2.1.2.  Product trends

2.1.3.  Material trends

2.1.4.  End-use trends

2.1.5.  Regional trends

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Chapter 3.    Medical Furniture Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2014 – 2025

3.3. Industry impact forces

3.3.1.  Growth drivers

3.3.1.1. Increasing prevalence of chronic diseases worldwide

3.3.1.2. Rising number of hospital admissions

3.3.1.3. Growing investments in healthcare infrastructural development

3.3.1.4. Increasing government support for hospitals covered under healthcare sector

3.3.2.  Industry pitfalls & challenges

3.3.2.1. High cost of Medical furniture


Related Report: Ophthalmic Viscosurgical Devices (OVD) Market By Product, By Application, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2018 - 2024

Know [email protected] https://www.marketwatch.com/press-release/ophthalmic-viscosurgical-devices-market-report-2019-predicting-123-cagr-growth-by-2024-2019-04-18

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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