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Global and China Hospital Furniture Market Segments: By Type (Bedside Tables, OT Table, Instrument Stands, Stretchers, Hospital Beds, Chairs, Scrub Sinks, Waste Container, Trolley, Others); By Application (Physician Furniture, Patient�s Furniture And Staff�s Furniture); By End User (Hospitals, Diagnostic Centers, Clinics And Others) and Region - Analysis of Market Size, Share & Trends for 2014 - 2019 and Forecasts to 2030
Global and China Hospital Furniture Market to surpass USD $14.3 million by 2030 from USD $7.29 million in 2018 at a CAGR of 5.80% throughout the forecast period, i.e. 2019-30.
Hospital furniture is the most important part of the hospital. This includes all the essential things used in the hospital, either by the physician, the nurses, or the patient. Many hospitals are designing their furniture to attract patients. Growing numbers of hospitals and clinics around the world are the key factors responsible for the growth of the global hospital furniture industry. Increased prevalence of different chronic diseases and rising patient demands for hospital facilities have also led to the growth of the sector. Continuous technical advances and the introduction of revolutionary furniture, such as eye surgery chairs and advanced hospital stretchers, have provided fuel for the growth of the industry. At the same time, high prices and the need for long-term furniture have hindered the growth of the industry.
Global and China Hospital Furniture Market to surpass USD $14.3 million by 2030 from USD $7.29 million in 2018 at a CAGR of 5.80% throughout the forecast period, i.e. 2019-30. The Global and China Hospital Furniture Market is expected to observe growth in the future due to advances in healthcare infrastructure in both developed and developing countries will stimulate the growth of the medical furniture industry in the coming years. Governments in emerging economies such as China are introducing certain decisions that result in the growth of hospital infrastructure as well as ensuring the availability of high-quality hospital facilities.
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Global and China Hospital Furniture Market is segmented by type into Bedside Tables, OT Table, Instrument Stands, Stretchers, Hospital Beds, Chairs, Scrub Sinks, Waste Container, Trolley, Others. The bed segment held the largest market share of USD $7.29 million in the year 2018 and is anticipated to dominate the global market throughout the forecast period. A significant number of patients are admitted to hospitals for surgery every year. The increased patient stays in hospitals due to slow injury recovery is expected to increase demand for long-term beds. The above factors are expected to increase the growth of the segment over the forecast timeframe.
Global and China Hospital Furniture Market is segmented by end-users into Hospitals, Diagnostic Centers, Clinics, and Others. The hospital segment held the largest market share of USD $7.29 million in the year 2018 and is expected to maintain this trend throughout the forecast period. The increase in the incidence of chronic diseases and trauma cases has increased the demand for medical furniture in the hospital market. The number of hospital admissions rose significantly in 2019. The increase in the number of hospital admissions during this time has increased the demand for acute and long-term beds. In addition, the available reimbursement for surgical procedures has increased the inflow of patients to hospitals, thereby boosting segmental development.
Coronavirus Pandemic Drive Demand for Easy-to-Manage Quarantine Beds
As the cases of COVID-19 continue to escalate worldwide, manufacturers are capitalizing on the unprecedented demand for beds and partitions. For example, the Nilkamal-an Indian furniture brand has launched exclusive products such as the COVID Quarantine Bed, the VirusGUARD partition, and the 7-position insulation bed to meet the urgent requirements of hospitals.
Trend U.S. Strong Obese Population Proliferate Hospital Furniture Demand
The trend of contract production is becoming increasingly prevalent in the hospital furniture industry. The idea of customized furniture is becoming increasingly popular in the consumer environment, with a greater focus on the quality and polished finish of items. Manufacturers are embracing well-thought-out concepts that revolve around the look, comfort, and hospitality of end-users. High-performing hospital furniture helps manufacturers achieve global recognition. Washington-based maker, Everett Office Furniture, is growing its R&D activities to produce high-performance hospital furniture, as a large percentage of the U.S. population is obese. This factor is foreseen to witness high growth opportunities for the hospital furniture market shortly.
Covid-19 impact on Global and China Hospital Furniture Market
Due to COVID-19 Impact Manufacturers are in the process of increasing their production capacity to meet the emerging needs gap caused by the coronavirus pandemic. This has allowed manufacturers to maintain loyal business ties with hospitals and would allow manufacturers to enter into long-term contractual arrangements with hospitals in the future. Companies have worked around the clock to create innovative hospital furniture solutions that are the product of extensive R&D. Innovative COVID quarantine beds are being built that are easy to store, use and transport.
Global and China Hospital Furniture Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA.
Global and China Hospital Furniture Market in North America held the largest market share of USD $7.29 million in the year 2018 and will continue to dominate the market throughout the forecast period. A substantial share of income can be accounted for in the well-developed healthcare system. Hospitals funded by public health have the luxury of using government funds. Medical furniture is costly and, thus, this coverage is helpful to the development of the industry. In addition, favorable demographic patterns, such as a growing geriatric population vulnerable to chronic diseases, are improving regional share. Europe and Asia-Pacific have almost the same market share, but Asia-Pacific is projected to rise at the fastest CAGR. The growth of the Asia-Pacific market is attributed to the presence of rapidly developing economies. Whereas the Middle East and Africa have the lowest hospital furniture demand.
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the theUnited States and Canada
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