Medical Furniture Market Analysis, Key Company Profiles, Types, Applications and Forecast to 2032

The size of the global market for medical furniture was estimated at USD 28.0 billion in 2021 and is anticipated to grow to over USD 45.0 billion in 2030, with a CAGR of 7.0% during the anticipated period. Growing hospital admissions worldwide, an expanding patient pool due to the prevalence of chronic diseases, and favourable insurance and reimbursement situations are all expected to contribute to the market's expansion. On the other side, a lack of research and development in many countries and high durability, which results in a lengthy product lifespan and discourages repeated purchase, are some restraints on expansion.

The major drivers of the rise in hospitalisation demand, which will favourably affect the medical furniture market, are the expanding number of hospitals, diagnostic facilities, specialty clinics, and other healthcare service providers, along with an increase in fatal injury cases brought on by factors like rising traffic accidents and an increase in the prevalence of chronic diseases. Also, one of the main causes of the rising number of hospitals in developed nations is the rise in the number of physically challenged people who require medical care and treatment. According to Statista, there were around 5,795 hospitals in the United States in 2009, with a little decline to 5,723 in 2012. To comply with industry requirements, these hospitals will need to upgrade current furniture as well as purchase some new furniture in the near future. Also, according to Eurostat, the patient pool and rising healthcare costs brought on by the spread of diseases would result in more people visiting hospitals, which will enhance hospitals' purchasing power. These elements will therefore help to boost the demand for medical furnishings.

The COVID-19 epidemic has manifested as an economic and humanitarian crisis, putting pressure on society and upsetting millions of people and industries. Company closures and requests for people to remain in their homes had a heavy financial and economic toll. Around 4 million individuals impacted globally, including 300,000 deaths attributable to SARS-CoV-2. Healthcare facilities were in battle gear, planning new strategies to deal with an increase of COVID-19 patients, from tracking rapid diagnosis kits to providing personnel with enough PPE kits. To close the supply gap between needed ventilators and available ventilators, the majority of medical device companies have begun mass producing ventilators. The funding for R&D activities related to medical infrastructure has been reduced due to the medical community's focus on treating COVID-19, and the manufacture of ventilators that are essential for COVID-19 treatment has been chosen. As a result, this sector has been neglected, which has had a detrimental effect on the medical furniture market.

Product Insights
By 2021, the beds market is anticipated to hold the largest proportion. The market expansion of this category will be aided by factors including rising patient admissions for surgical procedures, an increase in the need for beds in hospitals and other healthcare facilities, and longer patient stays as a result of sluggish injury healing rates. In response to the epidemic, several manufacturers are producing affordable beds. One of the best medical technology companies in the world, Stryker, for instance, disclosed that it has created a low-cost, inadequate-release emergency response bed to help doctors treat patients effectively during the COVID-19 epidemic.

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Key Companies Insights
To stay competitive in the total market, players are using new approaches such as new product development, mergers and acquisitions, joint ventures, and geographic expansions.
Some of the key players working in the global medical furniture market include:
• Stryker
• Invacare Corporation
• ARJO AB
• Steris Plc.
• Medline Industries, Inc.
• Hill-Rom Holdings, Inc.
• Drive DeVilbiss Healthcare
• GF Health Products, Inc.
• NAUSICAA Medical
• Sunrise Medical (US) LLC
• Herman Miller Furniture
• Kovonox
• Getinge AB
• Other players
Some of the Recent Developments:
• In December 2021, Hillrom gives a range of equipment to help with patient care, including patient lifts and smart beds.
• In October 2020, Stryker launched ProCuity, the first and only completely wireless hospital bed in the market. This smart bed was made to help decline in-hospital patient falls across the board, rise nurse productivity and safety, and help in bringing down hospital expenses.

Segments
By Product
• Beds
• Chairs
• Bedside and Operating Tables
• Trolleys and Stretchers
• Cabinets and Lockers
• Others
By Material
• Wood
• Metal
• Plastics
• Others
By Distribution Channel
• Online
• Offline
By End Users
• Hospitals
• Ambulatory Surgical Centers
• Diagnostic Laboratories
• Clinics
• Specialty Healthcare Centers
By Geography
• North America
o U.S.
o Canada
o Mexico
• Europe
o U.K.
o Germany
o France
o Italy
o Spain
o Russia
• Asia-Pacific
o Japan
o China
o India
o Australia
o South Korea
o ASEAN
• Latin America
o Brazil
o Argentina
o Colombia
• MEA
o South Africa
o Saudi Arabia
o UAE
o Egypt

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Analysis of the impact of COVID-19 and the Russia-Ukraine War:
The readers of this section will be better informed on the effects of the pandemic, the post-pandemic, and the Russia-Ukraine War on the global market for refrigerated freight services. The factors that have changed since the poll was done include demand, consumption, transportation, consumer behavior, and supply chain management. Industry experts have also emphasized the crucial factors that will help players identify opportunities and maintain the sector as a whole in the approaching years.

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Key Questions Answered in the Report:
● What will be the development pace of market? What is the growth rate of the global market?
● Who are the key manufacturers in the market space? Who are the world's leading manufacturers?
● What are sales, revenue, and price analysis of the top manufacturers of market?
● Who are the distributors, traders, and dealers of market? What are the key factors driving the Global market?
● What are the market opportunities and threats faced by the vendors in the industries?
● What are deals, incomes, and value examinations by types and applications of the market?
● What are the primary factors driving market?
● What are the market's advantages, disadvantages, and risks, as well as an overview of the market?
● Who are the Top Manufacturers in the Market in Terms of Sales, Revenue, and Price Analysis?
● Analysis of Industry Revenue, Sales, and Pricing, what is the difference between Equipment by region, type, and application?

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