Hospital Furniture Market Size, Share & Trends Analysis Report By Product (Beds, Patient Lift, Tables, Chairs, Medical Carts, Stretchers, And Others), By Application, By Sales Channel, By Material, By End-use, By Region, And Segment Forecasts, 2023 - 2030

Hospital Furniture Market Size, Share & Trends Analysis Report By Product (Beds, Patient Lift, Tables, Chairs, Medical Carts, Stretchers, And Others), By Application, By Sales Channel, By Material, By End-use, By Region, And Segment Forecasts, 2023 - 2030

Hospital Furniture Market Growth & Trends

The global hospital furniture market size is expected to reach USD 15397.0 million by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.8% from 2023 to 2030. The growth of the market is due to the rising number of hospital admissions globally, favorable insurance and reimbursement scenarios, and government support for the hospitals that are covered under the healthcare sector are some of the factors propelling the growth of the market.

The world's growing network of hospitals and clinics is the main driver of the market's expansion. Public agencies are constructing more hospitals in an effort to prevent pandemics and other unforeseen events. Over the period of forecasting, the key growth driver in the market will be the demand for more modernized hospitals and clinics. Hospital furniture sales are significantly influenced by public sector initiatives to update existing hospital infrastructure.

Numerous industries across the world suffered from the COVID 19 outbreak. For the hospital furniture industry, the impact is actually precisely the opposite. The COVID 19 pandemic has benefited the hospital furniture industry because additional hospitals and specialized COVID 19 clinics were required to be built on a global scale. This indicated that there is an urgent need to furnish new hospitals and clinics. The COVID 19 pandemic brought with it a flood of fantastic growth prospects for the hospital furniture industry.

Furthermore, due to the high patient volume, the existing hospitals also made an effort to upgrade their infrastructure. As a result, there were many opportunities for demand and expansion in the hospital furniture sector. Hospital Furniture is a significant factor to consider as it impacts a major part of a hospital’s functions. Trends in hospital furniture have been affected by the COVID-19 epidemic. Healthcare design considerations would inevitably be impacted by the pandemic in the upcoming years.

Hospital Furniture Market Report Highlights

• The beds segment has dominated the market and captured highest market share in 2022. The hospital beds segment has been classified into the sub-segments such as ICU beds, fowler beds, plain hospital beds, pediatric beds, maternity beds, and others. Growing demand for ICU beds due to higher prevalence of chronic disorders are expected to drive the hospital beds segment during the forecast period
• The patient's furniture segment is anticipated to lead the market. Patient furniture such as examination couches, examination lights, drawers, benches, bedside tables, over bed tables, chairs demand in the market is quite high
• The offline sales channel has captured around 64.2% of the market share in 2022 and has dominated the market owing to its advantages
• The metal segment dominated the market in 2022 and accounted for the largest market share. Increasing adoption coupled with the rising demand for metal furniture is attributed to segment’s position
• The hospitals and specialty clinics segment is expected to dominate the market due to increased need for furniture, and rising hospitalization owing to several chronic disorders
• North America held the largest revenue share in 2022 owing to rising prevalence of chronic diseases such as obesity, diabetes, cardiac arrest that may lead to hospitalizations is anticipated to surge the demand for hospital furniture market