Hospital Furniture Market Business Strategic Analysis to Boost Global Potential Growth by 2030

 

Hospital furniture Market Overview

Hospital furniture plays an important role in the attracting the patient to the hospitals. Well-developed furniture represents the status and facilities of hospital. Hospital furniture is an integral part of any clinical setting and hence plays an important role in the facilitation of healthcare. Increasing number of hospitals due to rising patient population has driven the growth of market. Rapid developments in technology and introduction of motorized stretcher chair and other advanced stretchers have provided fuel for the growth of market. However, high cost of furniture has hampered the growth of the market.

Global hospital furniture market is expected to grow at a CAGR of 9.8% during forecasted period.

Segmentation:

Global hospital furniture market is segmented on the basis of type, into bedside tables, OT table, instrument stands, stretchers, hospital beds, chairs, scrub sinks, waste container, trolley and others. On the basis of application, they are segmented into physician furniture, patient’s furniture and staff’s furniture. Physician furniture is sub segmented into examination table, surgery chair and other. Patient’s furniture is sub segmented into stretchers, bedside table and other and staff’s furniture is further segmented into stands and other. On the basis of end users, the market is segmented into hospital, diagnostic centers, clinics and others.

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Regional Analysis

Geographically, America accounts for the largest market for hospital furniture which is followed by Europe. Asia Pacific region is expecting a fastest growth for the market in coming future owing to increasing number of hospitals and clinics in this region. Increasing burden of various diseases has paved way for higher hospitalizations and therefore, higher demand for healthcare centers have been recorded. Rapid development in healthcare sector and increasing healthcare expenditure also contributed to the growth of the market. Asia Pacific hospital market is segmented into Japan, China, India, Australia, Republic of Korea and Rest of Asia Pacific. China and India are the major contributors for the market. China, which ranks number one, has approximately 69,105 hospitals and clinics, whereas India has just over 22,000 hospitals by 2014. Continuous increasing number of people suffering from different diseases and increasing number of hospitals and clinics in this region is the major factor for the growth of the market.

Competitive Analysis

The key players for the global hospital furniture market are Stryker Corporation (US), Bio Medical Solutions (India), KI (US), GPC Medical (India), 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), Beaver Healthcare Equipment (UK), Renray Healthcare Ltd. (UK), Moore Medical LLC (US), Beaver Healthcare Equipment (UK).

Hospital furniture market is a saturated market due to the presence of many local and multinational players. Number of different products are available into the market and so key players are trying to focus on acquisition and strategic alliances with local companies to minimize the competition.

Stryker Corporation is an American Fortune 500 medical technologies firm based in Michigan, US. Company’s product includes surgical equipment, implants, emergency medical equipment and many other medical devices. Company manufacturer maternity bedside stands, medsurg bedside stands, different beds, advanced hospital stretchers like motorized stretcher chair and eye surgery chair, overbed tables and many more

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