The Global Hospital Furniture Market has been witnessing upswings in the recent years and presents a positive outlook for the forthcoming years. 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 In the midst of the urban environment, various old hospitals and healthcare institutions are renovating their outdated hospital furniture.
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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 hospital furniture market.
Global Hospital Furniture Market - Key Players
The key players that are involved in Global Hospital Furniture Market are
• Stryker (US)
• Bio Medical Solutions (India)
• KI (US)
• GPC Medical (India)
• Chang Gung Medical Technology (China)
• Hill-Rom (US)
• Narang Medical (India)
• Beaver Healthcare Equipment (UK)
• Renray Healthcare (UK)
• Bristol Maid Hospital Metalcraft (UK)
• The Brewer Company (US)
Global Hospital Furniture Market - Segments
MRFR has segmented the report into four key dynamics for an easy grasp and enhanced understanding: -
By Types: Comprises Bed-side Tables, OT Tables, Instrument Stands, Stretchers, Hospital Beds, Chairs, Scrub Sinks, Waste Containers, and Trolley, among others.
By Applications: Physician Furniture, Patient’s Furniture and Staff’s Furniture among others.
By End-Users: Hospitals, Diagnostic Centers, and Clinics among others.
By Regions: North America, Europe, APAC and Rest of the World.
Global Hospital Furniture Market – Geographical Analysis
Globally North America leads the Hospital Furniture Market with the significant market share. The Market is expected to grow phenomenally during 2017 to 2023. Attributing to the high healthcare expenditure and increasing demand for better infrastructure and furniture, the market is expected to perceive a healthy growth. Another important driver for the regional market growth is the rapid uptake of new technologies in the US.
Europe emerging as a lucrative market for Hospital Furniture will grow at a phenomenal CAGR. The resurging economy in the region is expected to foster the regional market growth.
Asia Pacific market for the Hospital Furniture is expected to perceive the fastest growth by 2023 at a modest CAGR during 2017 to 2023. India and China backed by the huge population and the growing focus on improving the healthcare facilities.
Moreover, the fastest growing healthcare sector will provide impetus to the Hospital Furniture Market growth. Vietnam, Thailand, and Malaysia among other South East Asian countries are projected to contribute significantly to the regional market growth. Besides the growing penetration of healthcare insurance is expected to drive the Hospital Furniture market in the in the Asia Pacific region.
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