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Global Medical Furniture Market to Grow at a CAGR of 5.6% During 2022-2027, Aided by the Rising Demand for Hospital Beds in Healthcare Units

According to a new report by EMR titled, ‘Global Medical Furniture Market Report and Forecast 2022-2027’, the market attained a value of more than USD 6.91 billion in 2021. The Industry is further expected to grow at a CAGR of 5.6% between 2022 and 2027 to reach over USD 9.1 billion by 2027.

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:

  • The market is segmented based on product type into beds, chairs, bedside and operating tables, trolleys and stretchers, and cabinets and lockers, among others.
  • The market on the basis of material is segmented into wood, metal, and plastics, among others.
  • On the basis of sector, the market is segmented into public and private.
  • Based on application, the market is divided into hospitals and clinics, diagnostic centre, and ambulatory surgical centre, among others. 
  • Region-wise, the global market for medical furniture can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for medical furniture is being driven by the rising demand for medical furniture in hospitals, ambulatory surgical centres, and nursing homes, among others. 
  • The growing need to replace the existing medical furniture, owing to the rising investments towards hospital maintenance, is anticipated to augment the market. 
  • The increasing prevalence of chronic diseases is anticipated to provide impetus to the market in the forecast period. 
  • The market is expected to be aided by the increasing government investments to improve healthcare infrastructure, especially in emerging nations.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for medical furniture for the periods (2017-2021) and (2022-2027). 
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the product types, materials, sectors, applications, and regions of medical furniture.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

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.

About Us

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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