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Market Overview: In 2020, the global
hospital furniture market exhibited significant strength, and a steady
revenue Compound Annual Growth Rate (CAGR) is anticipated throughout the
forecast period. The increased funding for healthcare infrastructure
development is contributing to the growth of well-furnished and innovative
hospital settings. Moreover, the rising number of private hospitals in underdeveloped
and developing nations is expected to further propel market growth.
Hospitals' most crucial aspect is their furniture,
encompassing features utilized by doctors, patients, and hospital staff. Many
hospitals design unique furniture to attract patients, and the increasing
number of hospitals worldwide is a key driver for the global hospital furniture
market. The prevalence of chronic and acute diseases and heightened patient
expectations for hospital infrastructure are additional factors fueling market
expansion.
Major Factors Driving Growth of the Global Hospital Furniture
Market: The demand for medical furniture is anticipated to surge as hospital
admissions increase and the number of Covid-19 cases rises globally. Emergency
department visits are on the rise due to increased emergencies and a higher
risk of acute conditions, necessitating efficient and high-quality medical
infrastructure. Consequently, the demand for quality medical furniture is
surpassing other sectors.
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Factors Restraining Growth of the Global Hospital Furniture
Market: Several unfavorable factors, such as the rising cost of medical
furniture, are hindering the substantial growth of the global hospital
furniture market. The high cost of medical furnishings and a lack of
understanding about healthcare in certain developing nations are limiting
market expansion over the forecast period.
Opportunities for Players in the Global Hospital Furniture
Market: The Covid-19 pandemic has significantly impacted the global medical
furniture sector, with an increased need for advanced medical equipment and
critical care. The surge in patients with respiratory illnesses and other
comorbidities has created growth opportunities for medical furniture to meet
the demands and comfort of patients.
Global Hospital Furniture Market Revenue Led by Material Type
Segment: The wood segment is expected to dominate the market due to its
widespread use in government hospitals for efficient equipment storage. Wooden
furniture is preferred in public and government hospitals due to its advantages
in patient comfort and flexibility, leading to higher adoption rates.
Global Hospital Furniture Market Leading End-Use Segment:
Ambulatory surgical centers are projected to dominate the market, driven by
their ability to execute complex surgeries quickly, insurance coverage for most
surgeries, and the alleviation of affordability concerns for patients at lower
income levels. The growing number of chronic illnesses requiring critical care
in ambulatory surgery centers is expected to boost industry income.
North America Accounts for Largest Revenue Share in the
Global Hospital Furniture Market: North America is expected to dominate the
market due to the rising prevalence of chronic diseases, government measures
like reimbursements for medical furniture, and the increasing number of
hospitals, clinics, and ambulatory surgical centers.
Asia Pacific Continues to Lead in Terms of Revenue CAGR: The
Asia Pacific market is forecasted to experience the fastest growth in CAGR,
driven by rapidly growing economies, technological advancements, favorable
demographic trends, and government initiatives in India and China to ensure
top-quality medical furniture in hospitals and diagnostic centers.
Major Companies Profiled in the Report: Leading companies
such as Hill-Rom, Paramount Bed, StrykerLinet Group, Stiegelmeyer, ArjoHuntleigh,
Pardo, France Bed, Bazhou Greatwall, Malvestio, Winco, Silentia, Merivaara,
KC-Harvest, Haelvoet, Mespa, EME Furniture, and others are contributing to the
industry's robust growth.
Strategies and Objectives of Major Companies: Companies like
Invacare and LINET are adopting strategies to enhance their product portfolios,
with Invacare launching the Ocean Ergo to broaden its medical furniture product
assortment, and LINET showcasing advancements to the professional community in
Hong Kong to expand its existing medical furniture products.
Detailed Segmentation in Our Report: The global Hospital
Furniture Market is segmented based on product type, material type,
application/end-use, and region.
Product Type Outlook:
Material Type Outlook:
Application/End-use Outlook:
Region Outlook:
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