Healthcare Furniture Market Report 2020, Trends, Growth, Size, Share, Key Players and Forecast By 2025

According to the latest report by IMARC Group, titled "Healthcare Furniture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the global healthcare furniture market size reached US$ 6.4 Billion in 2019. Healthcare furniture, a key component of health management and infrastructure, includes various products, such as hospital beds, examination and bedside tables, recliners, recovery couches and cabinets. They are widely used across clinics, hospitals, nursing homes, healthcare facilities and research institutes. Well-designed furniture aids in improving the mood of the patient, which directly influences their health and speeds up their recovery process. These pieces of furniture also enhance the productivity of the doctors and staff members while reducing work-related stress, monotony and risk of errors. Healthcare furniture helps in creating a conducive, comforting and reassuring ambiance that assists in motivating the staff to provide more attentive care, thus creating a positive experience for the patient and family members.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.

Global Healthcare Furniture Market Trends:

The market is primarily driven by the growing prevalence of chronic disorders across the globe. This can be attributed to the confluence of various factors, including hectic lifestyle, shifting dietary patterns and the rising demand for convenience food. Furthermore, there is an increasing requirement for the establishment of numerous specialty clinics, private healthcare facilities and hospitals with excellent infrastructure, including comfortable and high-quality healthcare furniture. This is owing to the ever-increasing number of physically challenged individuals and geriatric patients with fatal diseases who require high-quality healthcare facilities for a prolonged period. Governments of various countries are also investing in the healthcare sector to improve and modernize the existing infrastructure, which is providing a thrust to the market growth. Moreover, continuous technological developments, such as the introduction of motorized stretcher chairs, along with rapid urbanization, inflating disposable income levels and increasing per capita healthcare expenditure of various nations, are also projected to influence the growth of the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 8.7 Billion by 2025, expanding at a CAGR of 5.1% during 2020-2025.

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Key Market Segmentation:

Market Breakup by Application:

1. Hospitals and Clinics
2. Diagnostic Centres
3. ASCs (Ambulatory Surgical Centres)
4. Homecare Settings
5. Others

On the basis of the application, hospitals and clinics represent the largest application segment. Some of the other segments include diagnostic centers, ambulatory surgical centers (ASCs), homecare settings and others.

Market Breakup by Material:

1. Wood
2. Metal
3. Plastic
4. Others

Based on the material, the market is classified into wood, metal, plastics and others. At present, metal is the most preferred material.

Market Breakup by Furniture Type:

1. Beds
2. Chairs
3. Bedside and Operating Tables
4. Others

On the basis the furniture type, the market has been divided into beds, chairs, bedsides and operating tables, and others, wherein beds exhibit a clear dominance in the market.

Market Breakup by Distribution Channel:

1. Direct Sales
2. Distributors and Dealers
3. Others

On the basis of the distribution channel, direct sales account for the majority of the total market share, followed by distributors and dealers, and others.

Market Breakup by Sector:

1. Public
2. Private

Based on the sector, the market has been bifurcated into public and private, wherein the public sector dominates the market share.

Market Breakup by Region:

1. North America
2. Europe
3. Asia Pacific
4. Middle East and Africa
5. Latin America

On the geographical front, North America holds the leading position in the market. Other major regions include Asia Pacific, Europe, Middle East and Africa, and Latin America.

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

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