The most recent study conducted by Report Ocean, titled “Global Hospital Furniture Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Hospital Furniture. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Hospital Furniture Market Size study, by Product (Bedside Tables, OT Tables, Instrument Stands, Stretchers, Hospital Beds, Chairs, Scrub Sinks, Waste Container, Trolley And Others) by Application (Physician Furniture, Patient’s Furniture, Staff’s Furniture & Others) by End-Use (Hospitals, Outpatient Clinics, Medical Nursing Homes & Medical Laboratories And Research) and Regional Forecasts 2022-2028Global Hospital Furniture Market is valued approximately USD $ billion in 2021 and is anticipated to grow with a healthy growth rate of more than $ over the forecast period 2022-2028. The hospital furniture is widely used in hospitals and the healthcare centers.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
The hospital furniture includes stretcher trolleys, hospital bed, bed side table, operating table, blood donor chair and many more, fulfilling the need of the patients and caregivers. This are designed with the assistance of advance technology which meets the requirement of patients. The growing prevalence of geriatric population has led the adoption of Hospital Furniture across the forecast period. For Instance: as per the United Nations, in 2020, the share of aged population globally is 9.3 per cent of total population and is expected to rise up to 16 per cent by 2050.
Also, with the increasing infrastructure and technological development, the adoption & demand for Hospital Furniture is likely to increase the market growth during the forecast period. However, lack of comfort of the hospital furniture impedes the growth of the market over the forecast period of 2022-2028.
The key regions considered for the Global Hospital Furniture Market study includes Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the significant region across the world in terms of market share owing to the strong presence of healthcare industry in the region and the investment sector is also growing which leads to the adoption of hospital furniture market in the Europe region. Whereas, Asia-Pacific is anticipated to exhibit highest growth rate over the forecast period 2022-2028. Factors such as growing infrastructural development in the healthcare sector and high government support on the infrastructure development would create lucrative growth prospects for the Hospital Furniture market across Asia-Pacific region.
Major market player included in this report are:
LINET
The Brewer Company
SKYTRON
LLC
Renray
Ocura
STERIS
Hill-Rom Services, Inc.
Invacare Corporation
Stryker
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
Bedside Tables
OT Tables
Instrument Stands
Stretchers
Hospital Beds
Chairs
Scrub Sinks
Waste Container
Trolley and Others
By Ownership:
Physician Furniture
Patient’s Furniture
Staff’s Furniture & Others
By End-Use:
Hospitals
Outpatient Clinics
Medical Nursing Homes & Medical Laboratories And Research
By Region:
North America
U.S.
Canada
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Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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