NEW YORK, Aug. 6, 2024 /PRNewswire/ -- The
global hospital furniture market size is estimated to
grow by USD 8 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of 8.06% during the forecast period. Rise in international
accreditation by hospitals is driving market growth, with a trend
towards growing geriatric population. However, limited
sustainability of smaller vendors in global hospital furniture
market poses a challenge. Key market players include ActiveAid
LLC, Arjo AB, Baxter International Inc., Biomedical Solutions Inc.,
Chang Gung Medical Technology Co. Ltd., GF Health Products Inc.,
GPC Medical Ltd., IndoSurgicals Pvt. Ltd., Industrias H. Pardo SL,
Invacare Corp., LINET Group SE, Medline Industries LP, Narang
Medical Ltd., NAUSICAA MEDICAL SAS, PARAMOUNT BED HOLDINGS CO.
LTD., Renray Healthcare, STERIS plc, Stryker Corp., Sunrise Medical
LLC, and The Brewer Co. LLC.
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Hospital Furniture
Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
8.06%
|
Market growth
2024-2028
|
USD 8
billion
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
7.1
|
Regional
analysis
|
North America, Europe,
APAC, Middle East and Africa, and South America
|
Performing market
contribution
|
APAC at 28%
|
Key
countries
|
US, Germany, China,
Canada, and UK
|
Key companies
profiled
|
ActiveAid LLC, Arjo AB,
Baxter International Inc., Biomedical Solutions Inc., Chang Gung
Medical Technology Co. Ltd., GF Health Products Inc., GPC Medical
Ltd., IndoSurgicals Pvt. Ltd., Industrias H. Pardo SL, Invacare
Corp., LINET Group SE, Medline Industries LP, Narang Medical Ltd.,
NAUSICAA MEDICAL SAS, PARAMOUNT BED HOLDINGS CO. LTD., Renray
Healthcare, STERIS plc, Stryker Corp., Sunrise Medical LLC, and The
Brewer Co. LLC
|
Market Driver
The global population of older adults, defined as individuals
aged 65 years and above, is growing at an accelerated rate.
According to The World Bank Group, approximately 8.87% of the
world's population falls into this category. This demographic trend
is driven by increasing life expectancy and declining fertility
rates. In developed and developing countries alike, older adults
constitute a significant portion of the population. For instance,
Japan and Germany each have over 30% and 22% of their
populations aged 65 and above, respectively. The older population's
increased dependency on healthcare services is a key driver for the
hospital furniture market. Chronic conditions such as diabetes,
arthritis, cancer, obesity, heart diseases, and asthma are
prevalent among this demographic. As the immune system weakens with
age, older adults are more susceptible to these diseases.
Consequently, there is a growing demand for better healthcare
services and hospital furniture, particularly beds, to cater to
this population segment. In developing and underdeveloped nations,
manual beds are the preferred choice due to their affordability.
Older adults, who often require long-term care and home care, opt
for manual beds over expensive automated hospital beds. However,
the increasing disposable income and the rise of sophisticated
healthcare facilities have made semi-automated hospital beds more
accessible to consumers. As the consumption of all types of
hospital beds increases with the growing older population, the
global hospital furniture market is poised for substantial growth
during the forecast period. The older population's health issues
include arthritis, vision and eye diseases, body aches and muscle
pain, Alzheimer's disease and dementia, and heart diseases. During
hospitalization, patients require beds depending on the type of
medical services, such as critical or intensive care, acute care,
or long-term care. The rising older population across the world
will drive the demand for home healthcare solutions, leading to
increased sales of healthcare support products like beds.
The Hospital Furniture Market is witnessing significant growth,
with key products including Stretchers, Hospital Beds, Chairs,
Scrub Sinks, Waste Containers, and Trolleys. The Beds segment is
further segmented into ICU Beds, Fowler Beds, Ordinary Hospital
Beds, Pediatric Beds, Maternity Beds, and more. The Chairs sector
includes Birthing Chairs, Dialysis Chairs, Ophthalmology Chairs,
ENT Chairs, Dentistry Chairs, Pediatric Chairs, Bariatric Chairs,
and Geriatric Chairs. End users include Hospitals, Diagnostic
Centers, and Clinics. Physician's Furniture includes Examination
Stools, Lights, and Drawers, while Patient's Furniture includes
Examination Sofas, Over-bed Tables, and Benches. Staff's Furniture
includes Surgical Chairs and Examining Tables. This market caters
to various end-users and applications, especially for those with
chronic conditions like diabetes and cardiac arrest. Additionally,
Wheelchairs and Walkers are essential mobility aids for
patients.
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Market Challenges
- The global hospital furniture market is a competitive industry,
with major players like Arjo, Invacare Corporation, and Stryker
holding significant market share. New entrants face challenges due
to the high manufacturing costs for small and medium players,
limiting their ability to produce in large quantities. Established
players, such as Arjo and Invacare Corporation, are expanding their
manufacturing facilities globally, particularly in developing
countries. Inorganic growth strategies, including mergers and
acquisitions, collaborations, and partnerships, are common for
market leaders to broaden their product offerings and increase
revenue. These factors create a challenging environment for new
vendors, potentially leading to market consolidation and increased
competition.
- The Hospital Furniture Market faces several challenges in
catering to the unique needs of various healthcare settings.
Chronic wounds such as diabetic foot ulcers, venous leg ulcers, and
pressure ulcers require specialized wound care devices. Meeting
these requirements calls for advanced medical technology and robust
healthcare infrastructure. Medical carts, powdered beds, manual
beds, electric beds, and semi-electric beds are essential for
patient-centered care in acute and long-term care settings. Major
industry players focus on addressing challenges like mobility,
seating, transfer, and transport in bariatric beds, mobility
equipment, and home care solutions. Elderly illnesses, obesity,
paralysis, and therapy add to the complexity. Government
initiatives and hospital and clinic investments in modern
healthcare practices further influence market growth. Medical
facilities prioritize patient expectations, hospital
infrastructure, and costs, which include medical furniture like
examination tables, operational tables, obstetric tables, and
bedside tables, as well as instrument stands. Overall, the market
demands innovative, cost-effective, and adaptable solutions for
diverse patient needs.
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Segment Overview
This hospital furniture market report extensively covers market
segmentation by
- Application
- 1.1 Physician furniture
- 1.2 Patient furniture
- 1.3 Staff furniture
- Product
- 2.1 Hospital beds
- 2.2 Specialty medical chairs and tables
- 2.3 Others
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Physician furniture- The Hospital Furniture Market is
experiencing steady growth due to increasing healthcare
infrastructure investments. Hospitals are focusing on providing
comfortable and functional spaces for patients and staff. Key
players in this market include Steelcase Health, INA International,
and Herman Miller. They offer a
range of products like beds, chairs, and storage solutions,
designed to enhance the healthcare experience. Market trends
include the use of antimicrobial materials and adjustable furniture
for patient comfort and ease of use for healthcare staff.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
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The global Refurbished Medical Imaging Equipment market is
experiencing robust growth due to cost-efficiency and technological
advancements. Key drivers include increasing healthcare demands and
budget constraints.
In contrast, the global Wooden Furniture is driven by rising
consumer preferences for sustainable and aesthetically pleasing
home furnishings.
Research Analysis
The Hospital Furniture Market has experienced significant growth
due to the increasing prevalence of chronic diseases and the rising
patient expectations for comfortable and high-quality healthcare
environments. According to an Analyst Review, the market is
expected to expand at a steady pace, driven by the need for
hospital infrastructure upgrades and the impact of the pandemic on
healthcare delivery. Elderly illnesses, obesity, and hospital
admissions are key factors fueling the demand for mobility
equipment and specialized furniture for hospitals and clinics.
Regulatory compliance and insurance & reimbursement scenarios
also play a crucial role in the market's dynamics. Hospital
furniture designs continue to evolve, with a focus on patient care
and comfort, including plain hospital beds, examination chairs,
ophthalmic chairs, dental chairs, physician furniture, staff
furniture, and examination couches. Developing economies and
healthcare facilities such as nursing homes and medical centers are
also significant contributors to the market's growth. The Hospital
Beds segment is expected to dominate the market due to the
increasing number of hospitalizations. Disposable income and the
aging population further boost the demand for hospital furniture in
both developed and developing economies.
Market Research Overview
The Hospital Furniture Market is witnessing significant growth
due to the increasing prevalence of chronic diseases such as
diabetes, cardiac arrest, and obesity, leading to an increase in
hospital admissions. Patient expectations for comfort and mobility,
especially for elderly illnesses and paralysis, are driving the
demand for mobility equipment like bariatric wheelchairs and
mobility scooters. Hospital infrastructure development and
government initiatives are also contributing to market growth. The
beds segment, including ICU beds, Fowler beds, ordinary hospital
beds, pediatric beds, maternity beds, and bariatric beds, is a
major application area for hospital furniture. The hospital chairs
sector includes various types of chairs for specific medical
applications such as birthing chairs, dialysis chairs,
ophthalmology chairs, ENT chairs, dentistry chairs, pediatric
chairs, bariatric chairs, and geriatric chairs. Hospital furniture
is used for both patients and staff, including examination sofas,
examination lights, drawers, benches, over-bed tables, physician's
furniture, and examining tables. Surgical chairs, end users such as
Hospitals, Diagnostic Centers, and Clinics, and insurance &
reimbursement scenarios also influence market trends. Hospital
furniture designs are evolving to include smart beds with advanced
features and regulatory compliance. The market includes offline and
online sales channels, and materials used include metal and wood.
Bariatric surgery, patient lifts, and smart beds are other key
applications.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Physician Furniture
- Patient Furniture
- Staff Furniture
- Product
-
- Hospital Beds
- Specialty Medical Chairs And Tables
- Others
- Geography
-
- North America
- Europe
- APAC
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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