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Increasing Prevalence of Chronic Diseases and Growth in Initiatives by Market Players Drive the Medical Furniture Market

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Medical furniture a movable equipment that is used in healthcare centres, such as hospitals, nursing homes, and clinics, to boost the comfort of the patients and visitors. Some important medical furniture includes a hospital stand, hospital table, hospital trolley, and hospital chair, among others. Medical furniture refers to all critical goods and materials comprising movable assets or stationaries used in diagnostic labs, hospitals, physicians’ offices, waiting area, and patient ward and clinics to help patients or doctors. Bariatrics, cleanability, ergonomics and aesthetics are amongst the several factors that are considered by the healthcare facilities before participating into the medical furniture.

 The growing number of hospitals, diagnostic centers, specialty clinics, and other healthcare service providers coupled with rising number of fatal injury cases due to factors such as increasing road accidents and rising prevalence of chronic disorders are the major factors in up surging the demand for hospitalization which will positively influence the medical furniture market. Moreover, the growth in cases of physically challenged individuals demanding medical assistance and treatment often is among the major factors behind increasing number of hospitals in developed countries. As per Statista, the number of hospitals in 2009 was around 5,795 and show meagre decrease in 2012 reduction to 5,723 in the U.S. These hospitals would require to update their furniture as well as buy some new furniture in the upcoming future to meet industry standards. Additionally, as per Eurostat, increasing healthcare expenditures and patient pool due to growth in diseases would cause more hospital visits by the population resulting in monetary arrival in hospitals which will increase their buying abilities. Thus, these factors will lead to fuel the growth for medical furniture market.

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The global demand for medical furniture market was predicted to be about USD 30 billion in 2022, and by the end of 2031, existing and expected developments would hit valuations of around USD 48 billion. The industry players and analysts predict the global Medical furniture market growth of around 7% in terms of CAGR. During the forthcoming years, rising patient pool due to growing prevalence of chronic diseases, increasing number of hospital admissions globally, favourable insurance and reimbursement scenarios are boosting the medical furniture are projected to increase the market growth. On the other hand, dearth of research and development in many nations, high durability outcomes into long term life span of the products and therefore, confines the repetitive purchase are some restraining factors limiting the growth.

Some of the leading and top medical furniture companies 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 among others. The leading five players such as Medline Industries, Inc., Hill-Rom Holdings, Inc., Drive DeVilbiss Healthcare, Getinge AB, Invacare Corporation hold around 40% market share of the global medical furniture market.

On the basis of product, the global medical furniture market can be segmented into beds, chairs, bedside and operating tables, trolleys and stretchers, cabinets and lockers, and others, with the ‘beds’ category having the leading market share of about 30 percent, closely followed by the “bedside and operating tables” category at about 21 percent of the global medical furniture market share. On the basis of material, the market can be bifurcated into wood, metal, plastics, and others. On the basis of distribution channel, the market can be segmented into online and offline. On the basis of end user, the market can be segmented into hospitals, ambulatory surgical centers, diagnostic laboratories, clinics, and specialty healthcare centers. In terms of geography, North America region held the leading market share of around 40% among other regions such as Asia Pacific, Europe, Latin America, and Middle East & Africa in the global medical furniture market.

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