-- The Hospital Furniture Market is gaining momentum with the exponential growth in revamping plans for hospital infrastructure. These renovation plans are well-guided by the latest technological development. Patient comfort and for the hospital staffs, ease of functional capabilities are of prime importance; to take it to the optimal level, advancing technologies are imparting useful components to the furniture.
The Global Hospital Furniture Market can expect a hike in business by 9.8% CAGR during the forecast period (2017-2023), reveals Market Research Future (MRFR). The report further includes drivers such as the growing number of hospitals and clinics across the world, demand for greater efficiency in hospital function, and patient comfort that can impact the hospital furniture market expansion.
On the other hand, the high cost of furniture can pull back the expected growth rate of the hospital furniture market. At the same time, the demand for longer life span of these furniture just to curb the revamping cost can affect the hospital furniture market.
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).
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Global Hospital Furniture Market - Segments
MRFR has segmented the report into four key dynamics for an easy grasp and enhanced understanding: -
By Types: Comprises Bed-side Tables, OT Tables, Instrument Stands, Stretchers, Hospital Beds, Chairs, Scrub Sinks, Waste Containers, and Trolley, among others.
By Applications: Physician Furniture, Patient’s Furniture and Staff’s Furniture among others.
By End-Users: Hospitals, Diagnostic Centers, and Clinics among others.
By Regions: North America, Europe, APAC and Rest of the World.
Global Hospital Furniture Market – Geographical Analysis
The Global Hospital Furniture Market spans across the regions of the Americas, Europe, Asia Pacific, and the Middle East & Africa.
The Americas has commanded the dominant position in the global hospital furniture market. High healthcare spends, and soaring demand for better infrastructure and medical facilities have accelerated the market in the Americas.
Europe and Asia Pacific account for nearly same share of the global hospital furniture market, but Asia Pacific market is expected to expand at a relatively faster rate than other markets. Growing burden of various diseases has resulted in higher demand for healthcare centers which has contributed to the growth of the market.
Moreover, rapid development in the healthcare sector and rising healthcare expenditure in the developing economies of the region aid the expansion of the market. The presence of key players in the region and high investment in healthcare sector substantiates the growth of the Europe market. The Middle East & Africa market account for the least share of the market due to low expenditure on healthcare.
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.
In May 2018, XinChen Caster Wheels Company announced the development of Central Locking Casters Wheels for Medical and Hospital Furniture Use. Two new types of central locking caster wheels have been developed - the double central locking casters wheel and the single central locking casters wheels.
In August 2018, LKL International Bhd, a hospital furniture manufacturer received a contract worth RM 6.19 Million to supply beds and medical equipment to be constructed in Rawang.
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