Market Size of Global Medical Furniture Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.60 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Medical Furniture Market Analysis
The medical furniture market is projected to register a CAGR of 5.6% during the forecast period (2022 - 2027).
The healthcare system has witnessed enormous challenges as a result of the COVID-19 pandemic. All outpatient treatments were postponed or restricted during the COVID-19 pandemic to reduce the risk of viral transmission, as most chronic pain therapies were regarded as non-urgent. There was a huge barrier for people with disabilities in accessing health care services and information. Also, they had a higher risk of suffering from depression because of the social distancing and associated isolation protocols. According to the World Health Organisation's report on 'Hospital Beds, Stretchers, and Mattresses During the COVID-19 Pandemic,' published in October 2020, there might have been an increase in demand for medical furniture such as hospital beds, stretchers, and mattresses, to provide adequate healthcare support to the people through hospitals and other temporary expansion sites. Such large-scale expansions called for an influx of medical furniture, which positively impacted the growth of the medical furniture market.
The major chronic diseases such as cancer, cardiovascular diseases, chronic lung disease, stroke, Alzheimer's, diabetes, and chronic kidney disease are on the rise all over the world, which is adding to the growth of the medical furniture market. According to the GLOBOCAN 2020 report, the total number of people in the world affected by cancer in 2020 accounts for around 19,292,789 cases. The number is estimated to rise to 28,887,940 cases by 2040. According to the International Diabetes Federation (IDF) Diabetes Atlas Tenth edition 2021, in 2021, around 537 million adults all over the world were found to have diabetes, with the numbers projected to grow to 643 million by 2030 and 783 million by 2045. The large population affected by chronic diseases and the increase in the necessity of medical furniture for the ease of diagnosis and treatment of such diseases is expected to propel the growth of the medical furniture market.
As per the data from the World Bank, data updated in April 2021, the number of people above the age of 65 is 723.18 million as of 2020. The rise in the geriatric population and the increase in the number of diseases associated with age-related factors, thereby increasing the number of patients visiting the hospitals, is expected to improve the growth of the market. Also, as per the World Health Organisation's Key facts on Road Traffic Injuries published in June 2021, around 1.2 million people all over the world die as a result of road traffic crashes. Around 20 and 50 million more people suffer non-fatal injuries, with many incurring a disability as a result of their injury. The rise in the number of road traffic accident cases all over the world is increasing the number of admissions to hospitals and healthcare settings, which is likely to boost the growth of the medical furniture market in the forecast period.
Medical Furniture Industry Segmentation
As per the scope of this report, medical furniture includes all types of chairs, beds, and other furniture which are used in a hospital or in a healthcare setting. Medical furniture is usually purchased based on its feasibility, durability, ergonomics, and aesthetics. The medical furniture market is segmented by product (beds, cabinets, chairs, lockers, and others), manufacturing material (metal, plastics, and wood), end user (hospitals, ambulatory surgical centers, and others), and geography(North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends of 17 countries across major regions globally. The report offers values (in USD million) for the above-mentioned segments.
| By Product | |
| Beds | |
| Cabinets | |
| Chairs | |
| Lockers | |
| Others |
| By Manufacturing Material | |
| Metal | |
| Plastics | |
| Wood |
| By End User | |
| Hospitals | |
| Ambulatory Surgical Centers | |
| Others |
| Geography | ||||||||
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Global Medical Furniture Market Size Summary
The hospital furniture market is experiencing significant growth, driven by the increasing demand for medical furniture such as hospital beds, stretchers, and mattresses. This demand has been amplified by the challenges posed by the COVID-19 pandemic, which necessitated large-scale expansions of healthcare facilities to accommodate patients. The rise in chronic diseases, including cancer, cardiovascular conditions, and diabetes, is further propelling the market, as these conditions require extensive medical care and infrastructure. Additionally, the growing geriatric population and the prevalence of age-related diseases are contributing to the increased need for hospital furniture, as more patients require hospitalization. The market is also witnessing a surge in demand due to the rising number of road traffic accidents, which lead to more hospital admissions and, consequently, a greater need for medical furniture.
In North America, the market is bolstered by advanced manufacturing techniques and technological innovations in medical furniture, particularly in the wheelchair segment. The high awareness of novel medical furniture models among the population further supports market growth in this region. The presence of major players such as Getinge, Hill-Rom Holdings, and Stryker Corporation, among others, adds to the competitive landscape of the market. These companies are actively introducing innovative products, such as Invacare Corporation's Birdie Evo XPLUS and LINET's Sprint 200 stretcher, to enhance patient care and transportation. The fragmented nature of the market, coupled with the increasing investment in healthcare, is expected to drive further expansion and competition in the hospital furniture sector.
Global Medical Furniture Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Prevalence of Chronic Diseases Resulting in Increase in Hospital Admissions
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1.2.2 Increase in the Number of Injuries
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1.2.3 Rising Number of Hospitals and Healthcare Facilities
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1.3 Market Restraints
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1.3.1 Increasing Cost of Raw Materials and Increasing Use of Multipurpose Furniture
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Product
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2.1.1 Beds
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2.1.2 Cabinets
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2.1.3 Chairs
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2.1.4 Lockers
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2.1.5 Others
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2.2 By Manufacturing Material
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2.2.1 Metal
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2.2.2 Plastics
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2.2.3 Wood
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2.3 By End User
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2.3.1 Hospitals
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2.3.2 Ambulatory Surgical Centers
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2.3.3 Others
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 South Korea
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2.4.3.6 Rest of Asia-Pacific
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2.4.4 Middle-East and Africa
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2.4.4.1 GCC
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2.4.4.2 South Africa
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2.4.4.3 Rest of Middle-East and Africa
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2.4.5 South America
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2.4.5.1 Brazil
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2.4.5.2 Argentina
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2.4.5.3 Rest of South America
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Global Medical Furniture Market Size FAQs
What is the current Global Medical Furniture Market size?
The Global Medical Furniture Market is projected to register a CAGR of 5.60% during the forecast period (2024-2029)
Who are the key players in Global Medical Furniture Market?
Getinge , Hill-Rom Holdings , Kovonax , Stryker Corporation and Herman Miller are the major companies operating in the Global Medical Furniture Market.
