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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, Hospital
furniture market size was valued at USD 7.8 billion in 2021 and is
projected to grow from USD 8.5 Billion in 2022 to USD 16.5 billion by 2030,
exhibiting a compound annual growth rate (CAGR) of 9.90% during the forecast
period (2022 - 2030). With the rapid increase in a number of hospitals and
healthcare centers around the world, and emphasis being laid to provide
improved facilities is the primary driving force behind the growth of the
market. The government in various developing countries is encouraging new
hospitals in the private sector in order to increase treatment facilities in
accordance with the latest developments.
Increasing patient expectations towards
better hospital infrastructure also have a catalyzing effect on the growth of
the global hospital furniture market. In the midst of the urban environment,
various old hospitals and healthcare institutions are renovating their outdated
hospital furniture. Thus, renovation of hospitals also spurs the market growth.
Other driving factors for the growth of the market include increasing
healthcare expenditure, persistent development in technology and innovations in
hospital furniture. Whereas, long life of furniture and the substantial cost
associated with them are the most prominent hurdles to the growth of the global
clinics furniture.
Competitive Landscape
The global hospital
furniture market players include KI (US), GPC Medical (India), Stryker
Corporation (US), Beaver Healthcare Equipment (UK), The Brewer Company (US),
Beaver Healthcare Equipment (UK), DRE INC (US), Renray Healthcare Ltd. (UK),
Moore Medical LLC (US), Bio Medical Solutions (India), GPC Medical Ltd (India),
Anetic Aid Limited (UK), Hill-Rom (US), Chang Gung Medical Technology (China),
Narang Medical (India), Bristol Maid Hospital Metalcraft (UK).
Segmentation
The global hospital furniture market has
been segmented based on type, application, and end users. By type, the hospital
furniture market has been segmented into bedside tables, OT table, instrument
stands, stretchers, hospital
beds, chairs, scrub sinks, waste container, trolley, and others. By
application, the hospital furniture market has been segmented into physician
furniture, patient’s furniture, and staff’s furniture. The physician furniture
segment has been segmented into examination table, surgery chair and other. The
patient furniture segment has been further segmented into stretchers, bedside
table, and others, while the staff's furniture segment has been further
segmented into stands and other. By end users, the hospital furniture market
has been segmented into hospital, diagnostic centers, clinics, and
others.
Regional 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.
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