The Global Hospital Furniture Market has been witnessing upswings in the recent years and presents a positive outlook for the forthcoming years. According to Market Research Future (MRFR)’s analysis, the Global Hospital Furniture Market is poised to register a CAGR of 9.8% over the forecast period of 2017-2023.
Increasing prevalence of different chronic diseases increasing the demand for the therapies, surgeries, and hospitalization, accounts for one of the key growth propellers. Increasing patents’ expectations and demand for more advanced hospital infrastructure is also one of the factors contributing to the market growth. Furthermore, technological advancements transpired the manufacturing processes for furnishings, bettering the techniques further provide significant impetus to the market growth.
Increasing population and improving economic conditions that increase access to the quality, improving the quality life of people, foster the marker growth exponentially. On the other hand, the high cost of these furniture items slows the market growth especially in some of the low-income regions, making unaffordable to the hospitals with the limited budget allocated for healthcare. Nevertheless, favorable loan programs along with the funding from the public and private sectors are projected to increase the growth of the Hospital Furniture market throughout the forecast period.
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Global Hospital Furniture Market – Segments
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.
Global Hospital Furniture Market – Key Players
The key players that are involved in Global Hospital Furniture market are Stryker (US), Bio Medical Solutions (India), KI (US), GPC Medical (India), Chang Gung Medical Technology (China), Hill-Rom (US), Narang Medical (India), Beaver Healthcare Equipment (UK), Renray Healthcare (UK), Bristol Maid Hospital Metalcraft (UK), The Brewer Company (US).
Industry/Innovation/ Related News:
June 4, 2018 – Cytecare Hospitals Pvt. Ltd (India), an Oncology firm dedicated to highly specialized, modern diagnostic services, treatment and care for Cancer announced that it has raised US$ 31 Mn. in a Series A round of funding led by global investment bank Goldman Sachs.
June 10, 2018 – Lutheran Health Network (US) one of the largest healthcare provider in the northeast region of Indiana announced receiving of US$ 500 Mn. capital investment from the Community Health Systems to upgrade hospital facilities including furniture.
Global Hospital Furniture Market – Geographical Analysis
Globally North America leads the Hospital Furniture market with the significant market share. The Market is expected to grow phenomenally during 2017 to 2023. Attributing to the high healthcare expenditure and increasing demand for better infrastructure and furniture, the market is expected to perceive a healthy growth. Another important driver for the regional market growth is the rapid uptake of new technologies in the US.
Europe emerging as a lucrative market for Hospital Furniture will grow at a phenomenal CAGR. The resurging economy in the region is expected to foster the regional market growth.
Asia Pacific market for the Hospital Furniture is expected to perceive the fastest growth by 2023 at a modest CAGR during 2017 to 2023. India and China backed by the huge population and the growing focus on improving the healthcare facilities.
Moreover, the fastest growing healthcare sector will provide impetus to the market growth. Vietnam, Thailand, and Malaysia among other South East Asian countries are projected to contribute significantly to the regional market growth. Besides the growing penetration of healthcare insurance is expected to drive the Hospital Furniture market in the in the Asia Pacific region.
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Major Table of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope of the Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
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