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Medical Furniture Market worth over $38.7bn by 2026

  • Published Date: January 6, 2021

Medical Furniture Market size is set to surpass USD 38.7 billion by 2026, according to a new research report by Global Market Insights Inc.

Increasing prevalence of chronic disorders will stimulate the demand for medical furniture products. Chronic diseases can also lead to the serious disabilities that may require the medical furniture products including chairs and stretchers. Similarly, surging patient’s expectations towards advanced as well as better hospital infrastructure will fuel the overall market growth.

Rising investments in development of healthcare infrastructure will escalate the market value

Growing healthcare infrastructure especially in developing economies will augment the medical furniture market expansion. Government in emerging countries implements several decisions that result in development of hospital infrastructure and ensures availability of higher quality hospital facilities. State and community hospitals are well equipped with best-in-class medical furniture. Patients have high inclination towards such hospitals that enhances the industry growth. As demand for healthcare services is rising across the globe, requirement of superior quality healthcare services also surges. The trend of infrastructure development is more prevalent in developing economies in Asia Pacific region. Moreover, in the European countries, healthcare infrastructure is constantly advancing in order to attract medical tourism from rest of the world.

Advanced features of medical chairs will foster the market revenue

Medical Furniture Market

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The chairs segment is projected to witness around 2% growth rate till 2026. Medical chairs with slim seat and back may provide better accessibility to the patient, surging its adoption rate. Features of medical chair includes multi-positioning, adjustable height options, seat tilt options and ergonomic designs for better patient positioning, favoring the market demand. Key market leaders are focusing on developing novel products for driving their industry presence.

Browse key industry insights spread across 186 pages with 123 market data tables & 12 figures & charts from the report, “Medical Furniture Market Size By Product (Beds {Acute Care Beds, Long-term Care Beds, Psychiatric Care Beds, Bariatric Beds}, Chairs, Tables, Trolleys and Stretchers, Cabinets and Lockers), By Material (Wood, Metal, Plastics) By End-use (Hospitals, Home Healthcare, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:

Longer lifetime and higher safety associated with metal medical furniture will impel the market growth

The metal segment dominated a market share of around 52% in 2019. Metal medical furniture are widely used as it offers higher safety and has strong bearing capacity that further rises the life span of medical furniture. Medical furniture made of metals are majorly used in public as well as private healthcare facilities such as hospitals due to better durability and minimum replacement. Additionally, metal medical furniture is easy to clean and maintain along with longer lifetime that spurs the market value.

Superior quality of medical equipment and devices available in hospitals will provide lucrative growth opportunities

The hospitals segment valued at USD 11.3 billion in 2019 led by rising preference towards hospitals owing to the availability of technologically advanced medical furniture and expert healthcare professionals. Increasing number of accidents across the globe surges the demand for hospital beds, cabinets, chairs and others, boosting the market progression. Growing funding from government organizations for developing public as well as private hospitals will secure the market position over the forecast timeline. Easy reimbursement policies available for the surgical treatments has impacted the patient flow in hospitals that further propel the market revenue.

Increasing demand for medical furniture among geriatric population in European region will accelerate the market demand

Europe medical furniture market is estimated to register growth of over 5.5% through 2026 on account of growing geriatric population, rising cases of accidents as well as trauma. Aged people are susceptible to chronic diseases and require utmost care, creating demand for medical furniture. According to the World Health Organization (WHO), the number of people aged 85 years and more in Europe is predicted to surge to approximately 40 million by 2050. In addition, rising demand for medical furniture such as beds in home-care settings will escalate the industry expansion. 

Novel product launch by major industry players helps in enhancing their market share

Some of the eminent companies operating in the market include GPC Medical Ltd, Invacare Corporation, Stryker, Hill-Rom Holdings, Skytron, Biomedical Solutions, Kovonax, STERIS Corporation, Getinge AB, Stiegelmeyer, Met-lak, LINET, Herman Miller and Promotal. The market participants undergo certain growth initiatives to garner higher industry shares in medical furniture business.

Authors: Sumant Ugalmugale, Rupali Swain