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The market for medical furniture is driven by the rising demand for hospital beds, chairs, and trolleys in hospitals, ambulatory surgical centres, and nursing homes. The growing cases of chronic diseases, such as cancer and others, coupled with the increasing rate of hospitalisation, especially in case of geriatrics, have been contributing to the demand for medical furniture . In addition to this, the growing need to replace the existing medical furniture in order to augment the quality of treatment and bolster the comfort of patients is likely to aid the market growth in the forecast period.
In October 2018, Invacare Corporation (NYSE: IVC) announced the launch of Ocean Ergo, a medical furniture having six modular shower chair commodes designed in such a way that it enhances the user experience, independence, comfort, and safety.
In terms of region, North America is likely to account for a significant share in the market in the forecast period. The United States of America is one of the leading regions in terms of healthcare expenditure, globally, and has been significantly investing towards bolstering the quality of medical infrastructure in the country . Meanwhile, the strong foot hold of major market players in the region is anticipated to provide impetus to the market in the forecast period. Moreover, the rapid increase in spending on home healthcare settings is also expected to boost the demand for medical furniture in the forecast period.
Market Breakup by Product Type, Material, Sector, Application, and Region:
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The major players in the global medical furniture market are Getinge AB, Hill-Rom Services, Inc., Stiegelmeyer GmbH & Co. KG, and Stryker Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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