TMR’s report on the global hospital furniture market studies the past as well as current growth trends and opportunities to gain valuable insights of these indicators for the market during the forecast period from 2020 to 2030. The report provides the value and volume of the global hospital furniture market for the period 2018–2030, considering 2019 as the base year and 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR) of the global hospital furniture market for the forecast period.
The report has been prepared after primary and secondary researches. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global hospital furniture market.
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Global Hospital furniture Witness Most Promising Rise in Demand:
The hospital furniture market was valued at US$ 9.5 Bn in 2019 and is projected to reach a value of US$ 16.1 Bn by the end of 2030. As such, the Indian healthcare sector is advancing at a brisk pace, since stakeholders are increasing their expenditure capacities and bettering the healthcare settings in tier 1 & tier 2 cities. However, most hospital furniture and equipment are often incompatible to the changing needs of patients and emerging as a challenge for furniture manufacturers. Hence, manufacturers in the hospital furniture market are increasing their focus in ergonomically-sound furniture to suit the needs of patients. For instance, in August 2019, the Godrej Interio Healthcare Experience Center was launched in India where the two-in-one manual and motorized bed was highly publicized at the event.
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Emerging players in the hospital furniture market are increasing their focus in both sleeping and sitting furniture. For instance, high-end healthcare furniture provider Moments Furniture is acquiring proficiency in functional designs for products to manifest comfort for hospital patients. Such innovations are bolstering growth for the hospital furniture market, which is slated to register a high CAGR during the assessment period. As such, hospital furniture manufacturers are broadening their portfolio in complete interior concepts made, especially for the care sector whilst keeping the ergonomics and comfort in mind.
Manufacturers are collaborating with experts in the field of hospital furniture in order to gain a competitive edge over other market players. They are setting their collaboration wheels in motion to partner with specialists in high-end care beds integrated with the cutting-edge technology.
Global Hospital furniture Market: Companies Mentioned:
Key players operating in the global hospital furniture market are : Stryker Corporation, Hill-Rom Holdings Inc.,Invacare Corporation, ARJO AB, Steris Plc., Drive DeVilbiss Healthcare, GF Health Products, Inc., Medline Industries, Inc., NAUSICAA Medical, Sunrise Medical (US) LLC
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