What's driving the Medical Furniture Market Size? Stryker, Getinge, Hill-Rom Holdings, Skytron, STERIS Corporation, LINET, Promotal, Johnson & Johnson, Luxor, Invacare Corporation, OMRON Corporation and Philips Healthcare
Home healthcare settings segment will grow at 6.1% over forecast timeframe owing to several advantages associated with these institutions. As Home healthcare settings enables faster recover and provides greater comforts to the patients, its preference is increasing. Furthermore, home healthcare facilities are cost effective compared to other healthcare facilities. Aforementioned factors will augment the home healthcare end-user segment in years to come.
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Medical Furniture Market will exceed USD 8 billion by 2025; as per a new research report.
Advancements in healthcare infrastructure, especially in developing economies will propel medical furniture market growth in forthcoming years. Government in emerging economies such as India takes several initiatives for betterment of hospital infrastructure and fortify availability of high quality hospital facilities. Moreover, patients have high preference for hospitals quipped with quality infrastructure including medical furniture that will certainly impact industry growth.
Increasing prevalence of chronic diseases like diabetes, cancer and cardiovascular diseases has proven beneficial for industry growth. According to World Health Organization around 422 million people currently suffers from diabetes and this number is expanding at rapid pace. Changing lifestyle has increased the risk of acquiring diseases that needs critical surgical procedures and prolonged hospital stay. This framework has proven beneficial for the industry growth as it necessitates availability of medical furniture products in all healthcare institutions. However, high cost of superior quality medical furniture is predicted to hamper the industry growth to some extent.
Tables segment currently accounts for significant revenue share is expected to witness 5.8% growth from 2019 to 2025. The segment includes wide range of products such as surgical tables, bed side tables, examination tables etc. Each year numerous patients are admitted to hospitals and ambulatory surgical centers for different surgical procedures. Increasing number of surgeries has created robust demand for surgical tables over last few years and trend is likely to remain so over forecast timeframe. Moreover, availability of sophisticated and innovative surgical tables that ensures patient comfort predicted to impact segment growth.
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Latin America medical furniture market was valued over USD 700 million in 2018. Developing healthcare infrastructure coupled with increasing patient pool will augment the regional growth over the forecast period. In addition, government funding to the public hospitals and increased risk of newer diseases due to lifestyle changes will drive regional growth.
Prominent industry players in the medical furniture market include Stryker, Getinge, Hill-Rom Holdings, Skytron, STERIS Corporation, LINET, Promotal, Johnson & Johnson, Luxor, Invacare Corporation, OMRON Corporation and Philips Healthcare. Key industry players adopt various strategic initiatives such as acquisitions and new product launches, that enable them in sustaining market competition.
Chapter 1. Methodology
1.2. Market definitions
1.3. Forecast parameters
1.4. Data sources
188.8.131.52. Paid sources
184.108.40.206. Unpaid sources
Chapter 2. Executive Summary
2.1. Medical furniture industry 360 degree 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
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
220.127.116.11. Increasing prevalence of chronic diseases worldwide
18.104.22.168. Rising number of hospital admissions
22.214.171.124. Growing investments in healthcare infrastructural development
126.96.36.199. Increasing government support for hospitals covered under healthcare sector
3.3.2. Industry pitfalls & challenges
188.8.131.52. High cost of Medical furniture
3.4. Growth potential analysis
3.4.1. By product
3.4.2. By material
3.4.3. By end-use
3.5. Porter's analysis
3.6. Competitive landscape, 2017
3.6.1. Strategy dashboard
3.7. PESTEL analysis
Chapter 4. Medical Furniture Market, By Product
4.1. Key segment trends
4.2.1. Market size, by region, 2014-2025 (USD Million)
4.2.2. Acute Care Beds
184.108.40.206. Market size, by region, 2014-2025 (USD Million)
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