Hospital Furniture

Hospital Furniture

Hospital furniture encompasses a wide range of specialized equipment and items designed to cater to various medical needs within healthcare facilities. These items include hospital beds, examination tables, surgical tables, patient chairs, bedside tables, medical carts, and specialized storage units. Each piece serves a specific purpose to facilitate patient care, treatment, and medical procedures in hospitals and clinics. The hospital furniture market is growing at a tremendous rate owing to a surge in the number of chronic diseases such as cancer. For instance, in 2020, the International Agency for Research on Cancer and the World Health Organization conducted a GLOBOCAN study on global cancer incidence and prevalence. According to the results of the study, there were approximately 308,102 new cases diagnosed in the U.S. Other factors such as favorable insurance & reimbursement scenarios in hospitals, increased focus on early detection and prevention, advances in diagnostics, and a rise in the senior population are driving factors for the market.

The Hospital Furniture Market is expected to grow at a strong CAGR of 8.5% during the forecast period owing to the rising number of hospital admissions. For instance, in Australia, there were 11.6 million hospitalizations at a rate of 405 hospitalizations per 1,000 population in the year 2021-22. Several other factors such as the prevalence of communicable diseases, loaded investment in hospital infrastructure, improved patient outcomes, and company collaborations are also leading to the surge in the market. For instance, in 2021–22, recurrent expenditure (excluding capital) on Australia’s public hospitals was USD 77.2 billion, while recurrent expenditure on Australia’s private hospitals was USD 18.8 billion.

• Based on product type, the market is segmented into beds, tables, stretchers, and others. The beds segment held the highest share in the market in the year 2022 owing to its high demand at healthcare centers. Due to high hospital admissions, there is a high demand for beds at hospitals to accommodate a large number of patients. The innovative modifications offered by manufacturers like breathable, moisture-resistant beds have led to significant growth in this segment. For instance, in August 2022, Dozee and Midmark launched India’s first intelligent connected bed with embedded contactless remote patient monitoring (RPM) and early warning system (EWS). Hence, the beds segment held a significant share of the market in the year 2022.
• Based on material type, the market is segmented into wood, metal, and plastic. The wood segment is expected to grow with the highest CAGR during the forecast period. This growth is attributed to its relatively low thermal conductivity due to its unique organic qualities which provide such thermal advantages. This segment is gaining market dominance due to the long-lasting properties of wood. Thus, the wood segment is expected to gain prominence in the market in the forecast period.
• Based on end-users, the market is segmented into hospitals, ambulatory surgical centers, and others. The hospitals category held the highest share in the market in 2022 attributed to the ease of access to healthcare provided by hospitals, the availability of highly qualified healthcare personnel, the utilization of advanced medical technology, and a diverse number of units all over the globe. For instance, according to the American Hospital Association in 2023, there are in total of 6,129 hospitals in the U.S with 919,649 staffed beds and 34,011,386 hospital admissions in the year 2022. The market for the hospital segment is highly competitive and is projected to remain so in the foreseeable future. Thus, the hospital segment held dominance in the market in the year 2022.
• For a better understanding of the market adoption of the hospital furniture industry, the market is analyzed based on its worldwide presence in countries such as North America (U.S., Canada, and Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is expected to grow with the highest CAGR during the forecast period. This is due to the presence of major players in the market, the increasing incidence of chronic diseases like cancer, and the presence of well-established healthcare organizations. Countries such as India and China offer attractive investment opportunities for hospital furniture owing to their high population and huge patient biomass. For instance, in June 2023, according to the Hindu’s reports, India logged 31 million new diabetes patients in the 2019-21 study. Hence, given the large population size of APAC, it is expected to grow with a high CAGR during the forecast period.
• Some of the major players operating in the market include Stryker; Invacare Corporation; Arjo; STERIS; Medline Industries, Inc.; Hill-Rom Holdings, Inc.; Medical Depot, Inc.; GF Health Products, Inc.; NAUSICAA MEDICAL; Herman Miller, Inc.