Medical
furniture is an indivisible aspect of any medical
infrastructure. The phrase medical furniture comprises all important
goods and materials (stationary or movable assets) used in hospitals
and physicians’ office, either to help patient or physicians.
The market of
medical furniture is segmented on the basis of types of products,
such as cabinet and casework, metal cabinets, scrub sinks, bedside
tables, medical tables and carts, instrument stands, kick buckets, IV
poles, medical hampers, medical support, stretchers, beds, recovery
couches, chairs, medical stools, blood drawing chair, waste
container, inspection beds, portable toiletry, waiting room furniture
and others. Furthermore, the market is also segmented on the basis of
applications, such as physician/surgeon’s furniture (examination
table, eye surgery chair and others), patient’s furniture
(stretchers, bedside table and other) and support staff’s furniture
(IV stand, waste container and others). In addition, the market is
also segmented on the basis of geography, such as North America,
Europe, Asia-Pacific and Rest of the World (RoW). The North American
region is the most dominating market in the world, owing to extensive
number of hospitals and healthcare infrastructure. On the other hand,
Asia-Pacific and RoW are the most promising markets in the upcoming
period, owing to rise in number of in-patient treatments and medical
infrastructure.
The market of
medical furniture is expected to show steady growth rate during the
forecast period from 2014 to 2020. This growth is anticipated to
drive by various factors, such as increasing number of medical
infrastructure across the globe, particularly in developing countries
and steadily increasing technological innovations in hospital
furniture. The rising number of hospitals across developed countries
and high number of hospitals in developed nations is considered as
the key factor driving market growth. For instance, according to data
enumerated by the Statista, the number of hospitals in the U.S. has
remained steady since 2009, from 5,795 in 2009 to 5,723 in 2012. This
large number of hospitals would increase the demand of hospital
furniture in the near future. Similarly, according to the Eurostat,
increasing healthcare expenditure and patient base would increase the
financial inflow to the hospitals, which would increase their
purchasing capabilities and ultimately contribute in the market
growth. Moreover, gradual increase in technologically advanced
medical furniture is also supporting the growth of the medical
furniture market. For instance, owing to rise in technological
implementation in designing of medical furniture, a number of
advanced hospital stretchers, such as motorized stretcher chair and
eye surgery chair by Stryker Corporation are being introduced in the
market. These all factors altogether would contribute in the growth
of the hospital furniture market during the forecast period from 2014
to 2020. On the other hand, long life of hospital furniture materials
and high cost associated with technologically innovative furniture
products are considered as key factors affecting the market growth
negatively. Average life of hospital furniture is around ten to
twelve years (in case of non-technological products, such as
non-motorized stretchers and chairs). This long life span of these
products limits the repetitive purchase and thus affects market
growth negatively. Similarly, average cost of motorized stretcher
ranges from USD 10,000 to USD 25,000. This high cost of
technologically innovative devices would affect the market growth
negatively. Hence, these factors are considered as key hurdles in
market growth of hospital furniture.
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Some of the major
players engaged in commercialization of the hospital furniture
products in the market include Stryker Corporation, Anetic Aid
Limited, DRE INC, GPC Medical Ltd., Moore Medical, HillUSA, Hill-Rom
Holdings Inc., Beaver Healthcare Equipment and many others.
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