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Hospital Furniture is one of the most important parts of hospitals. It includes multiple products such as recliners, recovery couches, cabinets, hospital beds, examination and bedside tables, etc. These products have a wide-ranging use in nursing homes, health care facilities, clinics, hospitals, and diagnostic centers. It is generally seen that a very well-designed set of furniture helps in enhancing a patient’s mood, which subsequently impacts the patient’s health and recovery speed. Along with all these things it aids in eliminating stress among healthcare providers, monotony, and risks of errors, thus creating a comfortable and conducive work environment for healthcare professionals.
The rise in the number of hospital admissions globally, increase in government support for hospitals covered under the healthcare sector, and growing investment in healthcare infrastructural development are a few of the reasons that are responsible for the growth of the hospital furniture industry, However, the high installation cost and the premium pricing of the furniture are the reasons for the market’s limited growth.
Key Market Driver -
Growth in specialty clinics and hospitals, accompanied with increasing number of hospitals admissions globally drives the market growth.
Key Market Restraint -
High costs attributable to hospital furniture restrains the market.
Globally, the hospital furniture market can be segmented on the basis of product, materials, end use, sales channel and region. Based on product, the market can be segmented into beds, tables, seating furniture, trolleys and stretchers, cabinet and lockers and others. Based on application, the market can be segmented into physician, patient, and staff. Based on sales channel, the market can be segmented into offline and online. Based on end user, the market can be segmented into homecare, hospitals and clinics, ambulatory surgical centers. Geographically, the global market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
The major companies in the global hospital furniture market report include STERIS, SKYTRON LLC, Herman Miller Furniture, Invacare Corporation, Kovonax, Getinge AB, Stiegelmeyer GmbH & Co. KG, BSI, Groupe Eloi, Hill-Rom Services, Inc., Stryker, and LINET.
North America accounts for a significant market share in the global market, followed by Europe and then the Asia Pacific.
North America’s dominance is due to the strong presence of the healthcare industry in that region and growing investment in that sector. The Europe region is the second biggest region in terms of market share as it also has its fair share of hospitals and clinics, and the efforts taken by the government to provide better healthcare facilities to the people of this region.
The Asia Pacific is expected to grow in the forecasted period due to the infrastructural development in the healthcare industry. A growing geriatric population and expenditure on healthcare services are some other factors expected to support the market growth in this region. The Latin America and Middle East and Africa region is estimated to grow slowly as the healthcare facilities are improving and due to a large population seeking comfort during their hospital visits and stay.
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