Jan 17, 2023   SOURCE: BusinessWire

Global Hospital Furniture Market Report 2022: A $20 Billion Market by 2028 - Size, Segments, Outlook, and Revenue Forecasts by Product Type, Manufacturing Material, Application, End User, Region - ResearchAndMarkets.com

The "Global Hospital Furniture Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Product Type, Manufacturing Material, Application, End User, Region" report has been added to ResearchAndMarkets.com's offering.

According to this analysis, the Global Hospital Furniture Market was valued at ~US$ 7 billion in 2017. It is estimated to be ~US$ 11 billion by 2022 and is expected to reach a market size of ~US$ 20 billion by 2028, growing with a CAGR of 10%. This growth is due to the rise in the number of hospital admissions globally, and the increasing prevalence of different chronic diseases.

The increasing number of hospitals and clinics, the popularity of medical tourism and the prevalence of different chronic diseases, and patient expectations towards the hospital infrastructure are driving the growth of the Hospital Furniture Market.

Chronic diseases such as cancer, cardiovascular diseases, chronic lung disease, stroke, Alzheimer's, diabetes, and chronic kidney diseases are on the rise all over the world, which is driving the growth of the Hospital Furniture Market. The demand for better hospital infrastructure due to rising medical tourism has also boosted the Hospital Furniture Market. Moreover, the rise in the geriatric population is increasing the number of diseases associated with age-related factors, hence increasing the number of patients visiting hospitals.

High costs attributable to hospital furniture, lack of design and creation, and patient-centered care issues pose challenges to the growth of the Hospital Furniture Market.

Hospital furniture such as operating tables and other examination tables have a higher cost as compared to hospital beds and chairs, which limits their adoption. The rising cost of medical furniture hinders the growth of the Hospital Furniture Market.

The COVID-19 pandemic boosted the Global Hospital Furniture Market. Since the outbreak of COVID-19, several people were admitted to hospitals for treatment and cure. Many governments opened up extensions with bed facilities, for a larger chunk of people to get treatment simultaneously.

This led to an increase in demand for medical supplies to take care of the infected people. The increased demand for stretchers and hospital beds to provide adequate healthcare support to the people through hospitals and other temporary expansion sites propelled the growth of the Hospital Furniture Market during the pandemic.

Competitive Landscape

Global Hospital Furniture Market is highly fragmented among the global, regional, and country niche players.

It is estimated that the market comprises nearly ~500 players across four major regions. Although the global players comprise ~5% of the competitors, they hold the second largest revenue share following country-niche players with ~40% dominance.

Some of the major players in the market include Stryker Corporation, Invacare Corporation, Kovonax, LINET, J&J Medical Specialities, Skytron Supplies, Getinge, Herman Miller, Met-lak, Promotal, STERIS Corporation, GPC Medical Limited among others.

Recent Developments Related to Major Players

In May 2022, Invacare Corporation, a manufacturer and distributor of medical equipment launched its Birdie Evo XPLUS, a patient lift in USA for post-acute care settings. It uses technology that helps maximize comfort and security when lifting or transferring a patient to or from a bed, chair, or floor.

In May 2022, LINET, a supplier of health and nursing care products, launched the premium emergency and transportation stretcher, Sprint 200, a part of the new generation of stretchers taking patient transportation and patient care to the next level with its innovative solutions.

In July 2021, HermanMiller, acquired Knoll, Inc. The combined company comprises 19 leading brands, a presence across over 100 countries worldwide, a global dealer network, 64 showrooms globally, more than 50 physical retail locations, and global multi-channel eCommerce capabilities.

Key Topics Covered in the Report

  • Snapshot of the Global Hospital Furniture Market
  • Industry Value Chain and Ecosystem Analysis
  • Market size and Segmentation of the Global Hospital Furniture Market
  • Historic Growth of the Overall Global Hospital Furniture Market and Segments
  • Competition Scenario of the Market and Key Developments of Competitors
  • Porter's 5 Forces Analysis of the Global Hospital Furniture Industry
  • Overview, Product Offerings, and SWOT Analysis of Key Competitors
  • COVID-19 Impact on the Overall Global Hospital Furniture Market
  • Future Market Forecast and Growth Rates of the Total Global Hospital Furniture Market and by Segments
  • Market Size of Product Type Segments with Historical CAGR and Future Forecasts
  • Market Size of Application/End User Segments with Historical CAGR and Future Forecasts
  • Analysis of the Hospital Furniture Market
  • Major Production/Consumption Hubs within Each Region
  • Major Production/Supply and Consumption/Demand Hubs within Each Major Country
  • Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
  • Overview of Notable Emerging Competitor Companies within Each Region

Major Companies Mentioned in the Report

  • Stryker Corporation
  • Invacare Corporation
  • Kovonax
  • LINET
  • J&J Medical Specialities
  • Skytron Supplies
  • Getinge
  • Herman Miller
  • Met-lak
  • Promotal
  • STERIS Corporation
  • GPC Medical Limited

Emerging Companies Mentioned in the Report

  • Kalagar
  • Medimek Industries
  • Bariatric EQUIPMENT
  • Waterloo Healthcare
  • Drive Medical Designs and Manufacturing

Scope of the Report

Time Period Captured in the Report

  • Historical Period: 2017H-2021H
  • Forecast Period: 2022E-2028F

By Product Type

  • Beds
  • Tables
  • Chairs
  • Cabinet and Lockers
  • Trolley and Stretchers
  • Others (Waste containers, Scrub Sinks, Instrument Stands)

By Manufacturing Material

  • Metal
  • Plastic
  • Wood

By Application

  • Physician's Furniture
  • Patient's Furniture
  • Staff Furniture

By End User

  • Hospitals & Clinics
  • Ambulatory Surgical Centers
  • Diagnostic Centers
  • Others (Mobile Clinics, Surgical Centers)

For more information about this report visit https://www.researchandmarkets.com/r/5moj5w

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