Hospital Furniture Market Overview
Hospital furniture is also critical in changing a hospital environment into a comfortable public space for patients. The hospital furniture market will continue to thrive as long as hospitals are considered a civic obligation and public institutions. As per MRFR, the Hospital furniture market is estimated to gain a CAGR of 9.8% in the duration of the forecast period.
The need for more advanced hospitals and public agencies’ efforts to modernize the infrastructure of existing hospitals are also propelling the hospital furniture market. The diagnosis and treatment of new diseases is also a key opportunity for the hospital medical furniture market, enabling it to concentrate on specialized treatment clinics.
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Segmental Analysis
Types, applications, and end-users are used to segment the hospital furniture market. The hospital furniture market can be divided into OT tables, hospital beds, chairs, scrub sinks, instrument stands, bedside tables, stretchers, trash containers, trolleys, and other categories based on type. The hospital furniture market is divided into three application categories: patient furniture, physician furniture, and staff furniture. The hospital furniture market comprises diagnostic centers, clinics, and hospitals based on end-users.
Detailed Regional Analysis
According to hospital furniture industry tendencies, the North American region accounts for most of the industry’s size. Moreover, healthcare furniture trends show that the Asia Pacific area would be the fastest-growing industry during the forecast period. This trend can be traced back to hospital furniture makers in India and China. The African and European regional markets are already becoming increasingly important in the hospital furniture industry. Europe is undergoing a radical shift due to similar characteristics to the Americas. The APAC region is growing rapidly, and it will increase at the greatest rate during the projected period. Emerging economies are investing massively in healthcare infrastructure, and governments take the necessary steps to improve the sector. Furthermore, various nations in the region are establishing themselves as medical hubs, boosting the industry forward.
Competitive Analysis
The market is projected to witness an improvement in growth cues in the near future. The reclaimed market potential is projected to augment the worldwide market’s progress. The market’s production stability is predicted to be variable. Each manufacturer is expected to make microeconomic decisions to ensure long-term business growth and continuity during the forecast timeframe. The COVID-19 pandemic’s drastic changes in the global financial intermediation structure are believed to influence how firms acquire finance in the comparable period. The essential policies being developed by government bodies worldwide are thought to have a powerful role in the global advancement of the market. The restructuring of the market’s fundamental operations is expected to impact the market shortly. The upsurge in innovative technologies in the global supply chain is estimated to generate opportunities during the forecast period. The mindset of hypervigilance in the aftermath of the pandemic is intended to guide market decisions throughout the projected period.
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The foremost companies in the hospital furniture market are Bio Medical Solutions (India), KI (US), The Brewer Company (US), Anetic Aid Limited (UK), DRE INC (US), Ocura Healthcare Furniture (UK), Bristol Maid Hospital Metalcraft (UK), GPC Medical Ltd (India), Chang Gung Medical Technology (China), Stryker Corporation (US), Narang Medical (India), Moore Medical LLC (US), and Hill-Rom (US).
Industry Updates:
Medikabazaar, a B2B online marketplace for medical products, has raised $75 million in a Series C round of funding led by Creaegis Principals LLP, a local private equity firm. Creaegis has acquired CDC Group Plc of the United Kingdom as a new investor. Avendus advised Medikabazaar on the deal. The money raised will help the company expand its international operations and strengthen its position in the Indian B2B health tech market. Medical equipment, medical gadgets, consumables, disposables, and hospital furniture are among the items listed on the platform.
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