Hospital Furniture Market
Hospital Furniture Market Forecasts to 2028 - Global Analysis By Product (Tables, Beds, Trolleys and Stretchers, Seating Furniture, Cabibet and Lockers, Chairs, Medical Carts, Patient Lift and Other Products), By Type (Operation Theater (OT) Tables, Bedside Tables, Instrument Stands, Hospital Beds, Waste Container, Scrub Sinks and Other Types), By Material, By Sector, By Zone, By End User and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $9.11 BN |
|
Projected Year Value (2028) |
US $15.11 BN |
|
CAGR (2022 - 2028) |
8.8% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Hospital Furniture Market is accounted for $9.11 billion in 2022 and is expected to reach $15.11 billion by 2028 growing at a CAGR of 8.8% during the forecast period. Hospital furniture is furniture designed specifically for medical facilities. It is primarily utilised in reception areas, exam rooms, waiting areas, treatment rooms, pharmacy rooms, hospital rooms, hand rooms, laboratories, nursing centres, supply centres, dirt rooms, baby-loving areas, dental departments, inspection departments, and so on. The industry is expanding as a result of an increase in hospital admissions around the world, favourable insurance and payment conditions, and government support for hospitals that fall under the healthcare sector.
According to the WHO, 167 million individuals would be less healthy by 2025 as a result of being overweight or obese.
Market Dynamics:
Driver:
Growing public-private partnerships among market players in the healthcare industry
Public-private partnerships (PPPs) in India have a tremendous amount of promise to tackle the nation's present accessibility and affordability problems. Since government spending on healthcare remains incredibly low, the private sector currently makes up around 60% of the nation's entire hospital industry and is evolving into one of the most preferred sources of healthcare investment. By combining the funding and expertise from the private sector with the subsidies and access from the public sector, the growing trend towards public-private partnerships is anticipated to strengthen and improve the healthcare sector.
Restraint:
High operating cost
For the healthcare industry, especially private hospitals, the rise in real estate, resource, and other material costs is a significant challenge. Towns and cities have higher real estate costs than rural locations. This raises a hospital's capital and other operating expenses. Spending on patient care equipment is severely influenced due to the high cost of hospital facilities and infrastructure. Patient care equipment is given the lowest priority, and its costs are reduced to the lowest standard. This is mostly because establishing a green hospital is expensive.
Opportunity:
Emergence of a large number of domestic players and introduction of products to fuel the market
To assist the government's efforts to improve the nation's healthcare infrastructure, the major market players are always working to create and introduce technologically cutting-edge hospital furniture. Also, a number of domestic companies are entering the market to improve the healthcare system and meet the population's expanding needs. Thus, the increasing number of local players and the incorporation of cutting-edge technology into the products increased consumption.
Threat:
Rising preference toward refurbished and rental hospital furniture is likely to impede the market growth
Refurbished products are increasingly in demand in India. Because of the growing emphasis on sustainability, refurbished products are leading an emerging trend in practically every industry. Similar to other industries, the healthcare sector has a preference for refurbished products. Hospitals and other healthcare institutions are unable to invest in their infrastructure due to the nation's low healthcare spending, which amounts to approximately 3.2% of GDP. Also, in order to reduce the cost of procurement, buyers are changing their preferences towards the refurbished and rental markets due to the restricted budget allotted for medical facilities and the high cost of various furniture items.
Covid-19 Impact:
The demand for medical supplies has increased as a result of the infected population. Among the most common medical devices used in first-line clinical care are respiratory support devices such as atomizers, life support machines, oxygen generators, and monitors. Moreover, COVID-19 has significantly increased the need for medical products, including personal protective equipment, which includes masks, gloves, and protective eyewear. As a result of an increase in COVID-19 instances worldwide, there is a rising need for medical supplies from both healthcare professionals and the general public for prevention methods. For a sufficient and ongoing supply of personal protective equipment on the market, manufacturers of these products can take advantage of the increasing demand for medical supplies.
The beds segment is expected to be the largest during the forecast period
As a result of the rising demand for ICU beds spurred on by the higher prevalence of chronic illnesses that necessitate critical care services, the hospital beds segment is anticipated to have the largest market share over the forecast period. Also, due to the rise in bariatric procedures and the rise in the elderly population, electrical or powered beds from private hospitals are preferred over plain beds.
The Ambulatory Surgical Centers segment is expected to have the highest CAGR during the forecast period
Because the demand for hospital furniture in ASCs is primarily driven by the increased preference for same-day surgeries due to significant cost savings, waiting-time reductions, and an increase in the number of patients needing surgical procedures, the ambulatory surgical centres segment is anticipated to experience lucrative growth during the forecast period. Also, it is anticipated that the availability of ASC reimbursement policies will support the growth of this industry.
Region with largest share:
Due to the rising prevalence of chronic health conditions like obesity, diabetes, and cardiac arrest that may require hospitalisation, the North American region held the largest share in 2022 and is anticipated to maintain that position over the forecast period. The American Heart Association continues to consider cardiac arrest a public health emergency. Every year, the majority of out-of-hospital cardiac arrests (OHCA) that take place in the U.S. require hospitalisation and are tragic. Furthermore, bariatric operations and surgery remain the most effective long-term weight loss alternatives, and their efficacy has increased significantly over the past few years.
Region with highest CAGR:
Due to the expansion of healthcare infrastructure in the Asia Pacific region, it is anticipated to grow rapidly during the projected period. Some factors that are anticipated to contribute to the market expansion in this region include the rising geriatric population and spending on healthcare services. Furthermore, the Indian government has launched a variety of initiatives to support hospitals in an effort to boost the nation's healthcare sector. The government is also emphasising the promotion of medical tourism in the region.
Key players in the market
Some of the key players in Hospital Furniture market include Steris Plc, Invacare Corporation, Hill - Rom Holdings, Inc, Medline Industries, Inc., Stryker, Nausicaa Medical, Getinge Ab, Drive Devilbiss Healthcare, Gpc Medical Ltd., Arjo Ab, Skytron, Llc, Herman Miller Furniture, Baxter International Inc., Pmt Healthcare, Narang Medical Limited, Midmark Corporation, Bio Medical Solutions K, Anetic Aid Ltd, Dre, Inc., The Brewer Company, Bristol Maid Hospital Metalcraf, Chang Gung Medical Technology, Beaver Healthcare Equipment, Renray Healthcare Ltd, Moore Medical Llc, United Surgical Industries, Invacare Corporation, Favero Health Projects Spa, Ocura And Schmitz U. Söhne Gmbh & Co. Kg.
Key Developments:
In July 2022, SKYTRON, LLC. partnered with Arthrex, a company focused on minimally invasive surgical technology, to offer a broad array of total room solutions designed to address the future needs and challenges of operative care facilities.
In December 2021, Baxter acquired Hillrom, a medical device company aiming to transform healthcare and advance patient care worldwide.
In May 2021, Mediland launched a novel operating table “C800 electro-hydraulic operating table”, along with SunLED Series surgical light to improve the operation process.
In December 2020, Skytron Supplies, a prominent player in the market, rolled out its surgical table GS70 Salus. This table is reported to be the first table in the company’s Guardian Series product line up. The table offers unique and advanced features that would not only fulfill the requirements of the surgery but also keep the users well-informed with its digital features.
In October 2018, Ocean Ergo was launched by Invacare, Inc. It has six modular shower chair commodes designed for user independence, safety, and comfort. The product launch of Ocean Ergo further helped Invacare, Inc. in the expansion of its existing medical furniture product portfolio.
In May 2018, LINET Ltd presented its innovations at Hong Kong conducted by HK Medical Devices and Supplies; this helped it target its professional community. In addition, this strategy expanded the current offerings of the company in the medical furniture business.
Products Covered:
• Tables
• Beds
• Trolleys and Stretchers
• Seating Furniture
• Cabibet and Lockers
• Chairs
• Medical Carts
• Patient Lift
• Other Products
Types Covered:
• Operation Theater (OT) Tables
• Bedside Tables
• Instrument Stands
• Hospital Beds
• Waste Container
• Scrub Sinks
• Other Types
Materials Covered:
• Metal
• Plastic
• Wood
Sectors Covered:
• Private
• Government
Zones Covered:
• South
• East
• West
• North
End Users Covered:
• Physician Furniture
• Staff Furniture
• Patient Furniture
• Homecare
• Ambulatory Surgical Centers
• Hospitals and Clinics
• Diagnostic Centers
• Medical Nursing Homes & Medical Laboratories and Research
• Outpatient Clinics
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Hospital Furniture Market, By Product
5.1 Introduction
5.2 Tables
5.2.1 Examination Table
5.2.2 Surgical Table
5.2.3 Obstetric Tables
5.2.4 Other Tables
5.3 Beds
5.3.1 Psychiatric Beds
5.3.2 Acute Care Beds
5.3.3 ICU Beds
5.3.4 Fowler Beds
5.3.5 Pediatric Beds
5.3.6 Plain Hospital Beds
5.3.7 Maternity Beds
5.3.8 Other Beds
5.4 Trolleys and Stretchers
5.5 Seating Furniture
5.6 Cabibet and Lockers
5.7 Chairs
5.7.1 Electric
5.7.2 Manual
5.8 Medical Carts
5.9 Patient Lift
5.9.1 Manual Lifts
5.9.2 Stand up Lifts
5.9.3 Power Lifts
5.9.4 Overhead Track Lifts
5.9.5 Heavy Duty Lifts
5.9.6 Other Patient Lifts
5.10 Other Products
6 Global Hospital Furniture Market, By Type
6.1 Introduction
6.2 Operation Theater (OT) Tables
6.3 Bedside Tables
6.4 Instrument Stands
6.5 Hospital Beds
6.6 Waste Container
6.7 Scrub Sinks
6.8 Other Types
7 Global Hospital Furniture Market, By Material
7.1 Introduction
7.2 Metal
7.3 Plastic
7.4 Wood
8 Global Hospital Furniture Market, By Sector
8.1 Introduction
8.2 Private
8.3 Government
9 Global Hospital Furniture Market, By Zone
9.1 Introduction
9.2 South
9.3 East
9.4 West
9.5 North
10 Global Hospital Furniture Market, By End User
10.1 Introduction
10.2 Physician Furniture
10.3 Staff Furniture
10.4 Patient Furniture
10.5 Homecare
10.6 Ambulatory Surgical Centers
10.7 Hospitals and Clinics
10.8 Diagnostic Centers
10.9 Medical Nursing Homes & Medical Laboratories and Research
10.10 Outpatient Clinics
10.11 Other End Users
11 Global Hospital Furniture Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Steris Plc
13.2 Invacare Corporation
13.3 Hill - Rom Holdings, Inc
13.4 Medline Industries, Inc.
13.5 Stryker
13.6 NAUSICAA Medical
13.7 Getinge AB
13.8 Drive Devilbiss Healthcare
13.9 GPC Medical Ltd.
13.10 ARJO AB
13.11 SKYTRON, LLC
13.12 Herman Miller Furniture
13.13 Baxter International Inc.
13.14 PMT Healthcare
13.15 Narang Medical Limited
13.16 Midmark Corporation
13.17 Bio Medical Solutions K
13.18 Anetic Aid Ltd
13.19 DRE, Inc.
13.20 The Brewer Company
13.21 Bristol Maid Hospital Metalcraf
13.22 Chang Gung Medical Technology
13.23 Narang Medical
13.24 Beaver Healthcare Equipment
13.25 Renray Healthcare Ltd
13.26 Moore Medical Llc
13.27 United Surgical Industries
13.28 Invacare Corporation
13.29 Favero Health Projects Spa
13.30 Ocura
13.31 Schmitz U. Söhne Gmbh & Co. Kg
List of Tables
1 Global Hospital Furniture Market Outlook, By Region (2020-2028) ($MN)
2 Global Hospital Furniture Market Outlook, By Product (2020-2028) ($MN)
3 Global Hospital Furniture Market Outlook, By Tables (2020-2028) ($MN)
4 Global Hospital Furniture Market Outlook, By Examination Table (2020-2028) ($MN)
5 Global Hospital Furniture Market Outlook, By Surgical Table (2020-2028) ($MN)
6 Global Hospital Furniture Market Outlook, By Obstetric Tables (2020-2028) ($MN)
7 Global Hospital Furniture Market Outlook, By Other Tables (2020-2028) ($MN)
8 Global Hospital Furniture Market Outlook, By Beds (2020-2028) ($MN)
9 Global Hospital Furniture Market Outlook, By Psychiatric Beds (2020-2028) ($MN)
10 Global Hospital Furniture Market Outlook, By Acute Care Beds (2020-2028) ($MN)
11 Global Hospital Furniture Market Outlook, By ICU Beds (2020-2028) ($MN)
12 Global Hospital Furniture Market Outlook, By Fowler Beds (2020-2028) ($MN)
13 Global Hospital Furniture Market Outlook, By Pediatric Beds (2020-2028) ($MN)
14 Global Hospital Furniture Market Outlook, By Plain Hospital Beds (2020-2028) ($MN)
15 Global Hospital Furniture Market Outlook, By Maternity Beds (2020-2028) ($MN)
16 Global Hospital Furniture Market Outlook, By Other Beds (2020-2028) ($MN)
17 Global Hospital Furniture Market Outlook, By Trolleys and Stretchers (2020-2028) ($MN)
18 Global Hospital Furniture Market Outlook, By Seating Furniture (2020-2028) ($MN)
19 Global Hospital Furniture Market Outlook, By Cabibet and Lockers (2020-2028) ($MN)
20 Global Hospital Furniture Market Outlook, By Chairs (2020-2028) ($MN)
21 Global Hospital Furniture Market Outlook, By Electric (2020-2028) ($MN)
22 Global Hospital Furniture Market Outlook, By Manual (2020-2028) ($MN)
23 Global Hospital Furniture Market Outlook, By Medical Carts (2020-2028) ($MN)
24 Global Hospital Furniture Market Outlook, By Patient Lift (2020-2028) ($MN)
25 Global Hospital Furniture Market Outlook, By Manual Lifts (2020-2028) ($MN)
26 Global Hospital Furniture Market Outlook, By Stand up Lifts (2020-2028) ($MN)
27 Global Hospital Furniture Market Outlook, By Power Lifts (2020-2028) ($MN)
28 Global Hospital Furniture Market Outlook, By Overhead Track Lifts (2020-2028) ($MN)
29 Global Hospital Furniture Market Outlook, By Heavy Duty Lifts (2020-2028) ($MN)
30 Global Hospital Furniture Market Outlook, By Other Patient Lifts (2020-2028) ($MN)
31 Global Hospital Furniture Market Outlook, By Other Products (2020-2028) ($MN)
32 Global Hospital Furniture Market Outlook, By Type (2020-2028) ($MN)
33 Global Hospital Furniture Market Outlook, By Operation Theater (OT) Tables (2020-2028) ($MN)
34 Global Hospital Furniture Market Outlook, By Bedside Tables (2020-2028) ($MN)
35 Global Hospital Furniture Market Outlook, By Instrument Stands (2020-2028) ($MN)
36 Global Hospital Furniture Market Outlook, By Hospital Beds (2020-2028) ($MN)
37 Global Hospital Furniture Market Outlook, By Waste Container (2020-2028) ($MN)
38 Global Hospital Furniture Market Outlook, By Scrub Sinks (2020-2028) ($MN)
39 Global Hospital Furniture Market Outlook, By Other Types (2020-2028) ($MN)
40 Global Hospital Furniture Market Outlook, By Material (2020-2028) ($MN)
41 Global Hospital Furniture Market Outlook, By Metal (2020-2028) ($MN)
42 Global Hospital Furniture Market Outlook, By Plastic (2020-2028) ($MN)
43 Global Hospital Furniture Market Outlook, By Wood (2020-2028) ($MN)
44 Global Hospital Furniture Market Outlook, By Sector (2020-2028) ($MN)
45 Global Hospital Furniture Market Outlook, By Private (2020-2028) ($MN)
46 Global Hospital Furniture Market Outlook, By Government (2020-2028) ($MN)
47 Global Hospital Furniture Market Outlook, By Zone (2020-2028) ($MN)
48 Global Hospital Furniture Market Outlook, By South (2020-2028) ($MN)
49 Global Hospital Furniture Market Outlook, By East (2020-2028) ($MN)
50 Global Hospital Furniture Market Outlook, By West (2020-2028) ($MN)
51 Global Hospital Furniture Market Outlook, By North (2020-2028) ($MN)
52 Global Hospital Furniture Market Outlook, By End User (2020-2028) ($MN)
53 Global Hospital Furniture Market Outlook, By Physician Furniture (2020-2028) ($MN)
54 Global Hospital Furniture Market Outlook, By Staff Furniture (2020-2028) ($MN)
55 Global Hospital Furniture Market Outlook, By Patient Furniture (2020-2028) ($MN)
56 Global Hospital Furniture Market Outlook, By Homecare (2020-2028) ($MN)
57 Global Hospital Furniture Market Outlook, By Ambulatory Surgical Centers (2020-2028) ($MN)
58 Global Hospital Furniture Market Outlook, By Hospitals and Clinics (2020-2028) ($MN)
59 Global Hospital Furniture Market Outlook, By Diagnostic Centers (2020-2028) ($MN)
60 Global Hospital Furniture Market Outlook, By Medical Nursing Homes & Medical Laboratories and Research (2020-2028) ($MN)
61 Global Hospital Furniture Market Outlook, By Outpatient Clinics (2020-2028) ($MN)
62 Global Hospital Furniture Market Outlook, By Other End Users (2020-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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