Medical Furniture Market Analysis

Medical Furniture Market Analysis

The beds segment in the medical furniture market will observe around 8.4% growth rate till 2026 led by the large number of patients admitted in hospital settings for surgical measures. Medical furniture including medical beds are available in a wide range including hospital beds, nursing home beds, community beds, stretchers and paediatric beds. These beds consist of unique accessories that are designed to assist and support the patient’s long hospital stay impelled by slow injury healing rate that secures the market value. Different characteristics of medical furniture including enhanced ergonomics, ease of use and effective risk management foster the overall market revenue. Moreover, the COVID-19 situation will prove beneficial for market progression as it highly requires medical beds and other medical furniture for better patient care.

The wood material segment held more than 22.5% of the medical furniture market share in 2019. Government hospitals have usage to a variety of wooden chairs, wooden compartments, beds, cabinets for efficient storage of equipment. Due to the limited number of resources in public and government hospitals, preferences for wooden furniture proves profitable for the market expansion. Wooden chairs provide patient comfort and ease of flexibility for better relaxation thereby, surging its adoption rate. However, changing climatic conditions affect the material and may result in patient discomfort that will restrict the market demand to a certain extent.

The ambulatory surgical centers end-use segment valued at USD 7.4 billion in 2019. Patients and physicians are increasingly preferring ambulatory surgical centres owing to the ability to perform complex surgeries in a limited time span. Most of the surgical procedures being carried out in ambulatory surgical centres are reimbursed. Similarly, it resolves patients concern related to affordability issues with lower or minimum income levels accelerating the market value. Furthermore, increasing cases of chronic disorders requiring critical care and effective patient management at regular intervals at ASCs will impel the industry revenue.
 

North America medical furniture market accounted for around 10.6% revenue share in 2019. Increasing prevalence of chronic disorders such as diabetes, obesity and others resulting in hospitalizations will surge the demand for medical furniture. The significant market share is attributed to favourable government policies such as reimbursements offered for medical furniture and other equipment. In addition, rising number of hospitals, clinics and ambulatory surgical centres in the U.S. and Canada will boost the demand for medical furniture to a greater extent.
 

Strong foothold of industry players such as Invacare and others proves beneficial for the market as different participants launch superior quality medical furniture products for effective patient care propelling the industry growth.