Hospital Furniture Market Growth, Latest Trends, Regional Insights, Share Value, Key Players and Size Projection by 2027
Hospital furniture market overview
Hospital furniture is also essential to transform a hospital environment into a comfortable public space for patients. The hospital furniture market will continue to thrive as long as hospitals are seen as a civic obligation and public institutions. According to MRFR, the hospital furniture market is expected to gain a CAGR of 9.8% during the duration of the forecast period.
The need for more advanced hospitals and the efforts of public agencies to modernize the infrastructure of existing hospitals are also propelling the hospital furniture market. Diagnosis and treatment of new diseases is also a key opportunity for the hospital medical furniture market, allowing it to focus on specialist treatment clinics.
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Types, applications and end users are used to segment the Hospital Furniture market. The hospital furniture market can be divided into OT tables, hospital beds, chairs, scrub sinks, instrument racks, bedside tables, stretchers, trash cans, carts and other categories based on type. The hospital furniture market is divided into three application categories: furniture for patients, furniture for doctors and furniture for staff. The hospital furniture market includes diagnostic centers, clinics and hospitals based on end users.
Detailed regional analysis
According to trends in the hospital furniture industry, the North American region accounts for most of the size of the industry. Moreover, the trends of healthcare furniture show that the Asia-Pacific area would be the fastest growing industry during the forecast period. This trend can be attributed to hospital furniture manufacturers in India and China. African and European regional markets are already becoming increasingly important in the hospital furniture industry. Europe is undergoing radical change due to characteristics similar to those of the Americas. The APAC region is growing rapidly and will grow at the highest rate during the projected period. Emerging economies are investing heavily in health infrastructure and governments are taking the necessary steps to improve the sector. In addition, various countries in the region are establishing themselves as medical hubs, thus advancing the industry.
The market is expected to witness an improvement in growth signals in the near future. The recovered market potential is expected to increase the progress of the world market. The stability of market output is expected to vary. Each manufacturer must make microeconomic decisions to ensure long-term growth and business continuity during the forecast period. It is believed that the drastic changes of the COVID-19 pandemic in the global structure of financial intermediation will influence how companies acquire finance over the comparable period. Critical policies developed by government agencies around the world are believed to play a powerful role in the global advancement of the market. The restructuring of fundamental market operations is expected to impact the market shortly. The upsurge in innovative technologies in the global supply chain is expected to generate opportunities during the forecast period. The hypervigilance mindset in the aftermath of the pandemic aims to guide market decisions throughout the projected period.
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The main companies in the hospital furniture market are Bio Medical Solutions (India), KI (United States), The Brewer Company (United States), Anetic Aid Limited (United Kingdom), DRE INC (United States), Ocura Healthcare Furniture (UK), Bristol Maid Hospital Metalcraft (UK), GPC Medical Ltd (India), Chang Gung Medical Technology (China), Stryker Corporation (US), Narang Medical (India), Moore Medical LLC (United States) and Hill-Rom (United States).
Medikabazaar, a B2B online marketplace for medical products, has raised $ 75 million in a round of Series C financings led by Creaegis Principals LLP, a local private equity firm. Creaegis acquired CDC Group Plc from UK as a new investor. Avendus advised Medikabazaar on the case. The money raised will help the company to expand its international operations and strengthen its position in the Indian B2B health technology market. Among the items listed on the platform are medical equipment, medical gadgets, consumables, disposables, and hospital furniture.
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