According to Transparency Market Research (TMR), the global mortuary equipment market has fragmented landscape as numerous local and global companies are offering services in the country. Some of the key players operating in the isothermal bags & containers market are Mopec and Kugel Medical GmbH. In 2014, both the companies held a share of more than 50% in the overall market. Thermo Fisher Scientific Inc., Mortech Manufacturing Inc., LEEC UK, Flexmort, and Ferno-Washington Inc. are some of the other prominent players in this market.
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According to a report by Transparency Market Research (TMR), the global market is likely to witness a healthy rise in its valuation from US$173.4 mn in 2014 to US$306.0 mn by 2024, expanding at a CAGR of 6.30% during the period from 2015 to 2024. Although the future of the worldwide market for mortuary equipment is projected to be teeming with opportunities, it may face hurdles due the high cost of technically advanced equipment.
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Need for Better Preservation of Cadavers to Fuel Adoption
The increasing investment by healthcare units and mortuaries for the procurement of high-quality mortuary equipment in order to provide better preservation of cadavers is propelling the global mortuary equipment market significantly. The augmenting need for well-preserved cadavers for forensic tests as well as in academic and commercial research is fueling the demand for advanced mortuary equipment across the world. The technical advancements, boosting the usability of mortuary equipment, is likely to lead to a remarkable rise in their sales over the next few years.
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Scope of Heightened Demand across New Applications in Forensics and Research Sectors to Bolster Growth Prospects
Technological advancements have helped bring in automation in the field of mortuary equipment. Companies are increasingly commercializing automated mortuary equipment that assist in safe and speedy operations with the minimal need for manual interference. Such automated equipment are allowing the global mortuary equipment market to foray into new application areas in the field of research and forensics. With a heightened level of usability and flexibility, the demand for advanced mortuary equipment is expected to soar in areas such as transportation of well-maintained corpses in commercial and academic research and forensic tests.
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