Global Hospital Furniture Market By Geography
The Global Hospital Furniture market is segmented by geography into North America, Europe, Asia- pacific and LAMEA.
North America is expected to account for the largest share among all regions within the Global Hospital Furniture Market, during the forecasted period 2022-2028.
The growth is primarily attributed to the rise in the adoption of advanced techniques and systems for the manufacturing of hospital furniture. Countries such as USA and Canada in the region host several multi-specialty hospitals with a benchmarked infrastructure. Such hospitals also tend to increase their capacity to deal with the rising number of illness treatment cases.
Furthermore, the rising number of chronic disease cases in the region is expected to fuel the growth Hospital Furniture Market.
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Competition Scenario In Global Hospital Furniture Market
According to Ken Research Study, it is estimated that the 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.
What is the Expected Future Outlook for the Overall Global HOSPITAL FURNITURE Market Across the globe?
The Global Hospital Furniture market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2028F, witnessing a CAGR of ~% during the forecast period 2022-2028F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.
The Global Hospital Furniture market is driven by 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 However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.
With the increasing innovation and emergence of new products, the Global Hospital Furniture market is changing rapidly. For instance, 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, Herman Miller, 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.
The Global Hospital Furniture Market is forecasted to continue positive growth primarily driven by the increasing number of hospital admissions globally. The market size 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%. The Hospital Furniture Market is growing due to the increasing prevalence of chronic diseases and rising medical tourism. North America is the dominating region, owing to the rise in the adoption of advanced techniques for manufacturing hospital furniture.
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
- J&J Medical Specialities
- Skytron Supplies
- Herman Miller
- STERIS Corporation
- GPC Medical Limited
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Emerging Companies Mentioned in the Report
- Medimek Industries
- Bariatric EQUIPMENT
- Waterloo Healthcare
- Drive Medical Designs and Manufacturing
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Hospital Furniture Manufacturers
- Hospital Bed Manufacturers
- Hospital Chairs Manufacturers
- Hospital Desks and Cabinets Manufacturers
- Iron and Steel Suppliers Targeting Healthcare Furniture Manufacturers
- Wood Suppliers Targeting Healthcare Furniture Manufacturers
- Plastic and Fiber Materials Manufacturers
- Furniture Industry Association
- Healthcare Equipment Manufacturers Industry Association
- Healthcare Investors
- Investment Bankers Targeting Healthcare Sector
- Banking and Financial Institutions
- Environmental Regulatory Authorities
- Government Ministries and Departments of Healthcare
- Healthcare Research and Development Institutes
- Healthcare Furniture Distributors & Resellers
- Healthcare Start-ups
Time Period Captured in the Report
- Historical Period: 2017H-2021H
- Forecast Period: 2022E-2028F
For more insights on the market intelligence, refer to the link below:-
Global Medical Furniture Market