Overview:

The hospital furniture market is gaining momentum with the exponential growth in revamping plans for hospital infrastructure. These renovation plans are well-guided by the latest technological development. Patient comfort and for the hospital staffs, ease of functional capabilities are of prime importance; to take it to the optimal level, advancing technologies are imparting useful components to the furniture. The hospital furniture market was valued at USD 7.8 billion in 2021 and is expected to expand from USD 8.5 billion in 2022 to USD 18.9 billion by 2032, with a compound yearly growth rate (CAGR) of 9.7% over the forecast period (2022-2032). The report further includes drivers such as the growing number of hospitals and clinics across the world, demand for greater efficiency in hospital function, and patient comfort that can impact the hospital furniture market expansion.

On the other hand, the high cost of furniture can pull back the expected growth rate of the hospital furniture market. At the same time, the demand for longer life span of these furniture just to curb the revamping cost can affect the hospital furniture market.

Segmentation:

The global hospital furniture market can be segmented by type, application, and end-users.

On the basis of type, the hospital furniture market can be segmented into bedside tables, OT table, instrument stands, stretchers, hospital beds, chairs, scrub sinks, waste container, trolley, and others.

Application-wise, the hospital furniture market includes physician furniture, patient’s furniture, and staff’s furniture. Physician furniture is sub-segmented into examination table, surgery chair, and other. Patient furniture segment can be further segmented into stretchers, bedside table, and other. Staff’s furniture segment includes stands and other.

Based on end-users, the hospital furniture market is segmented into hospital, diagnostic centers, clinics, and others.   

Regional Analysis:

Analysis of the hospital furniture market research on the basis of the region includes the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).

The Americas account for the largest amount of market share. The region has superior healthcare infrastructure and invests profusely for the upkeep of the same. These factors have impacted the market growth.

Europe is also having significant change owing to similar features like that of the Americas. The APAC region is recording significant growth, and it would be the fastest during the forecast period. Emerging economies are spending heavily to boost their healthcare infrastructure and governments are also taking necessary steps to uplift the healthcare segment. Furthermore, many countries in the region are emerging as a medical hub which is giving significant traction to the market.

Competitive Analysis:

Stryker Corporation (US), Bio Medical Solutions (India), KI (US), Anetic Aid Limited (UK), DRE INC (US), Bristol Maid Hospital Metalcraft (UK), The Brewer Company (US), GPC Medical Ltd (India), Chang Gung Medical Technology (China), Hill-Rom (US), Narang Medical (India), Ocura Healthcare Furniture (UK), Moore Medical LLC (US), and others. These companies integrate merger, collaboration, product launch and other methods to keep the competition growing which also positively impacts the market growth.

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