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Medical Furniture Market Trends

Report ID: GMI3121
Published Date: Dec 2020
Report Format: PDF

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Medical Furniture Market Trends

An increasing number of hospital admissions and an escalating number of COVID-19 cases worldwide will boost the demand for medical furniture to a greater extent. Rising patient admission is particularly observed in emergency departments due to a stupendous rise in emergency visits with a higher rate of acute conditions such as heart attacks, strokes along with the current COVID-19 outburst. Medical furniture includes superior products such as beds and surgical tables that assist in the treatment as well as recovery of patients suffering from other chronic conditions. As a result, the demand for superior quality medical infrastructure is prevailing the overall industry demand. Also, with improvements in medical technology, healthcare services and survival rate it is predicted that the medical furniture business in near future will have numerous growth opportunities.

Authors: Mariam Faizullabhoy

Frequently Asked Questions (FAQ) :

Medical furniture industry share was valued at over USD 24.7 billion in 2019 and is poised to grow at a CAGR of around 6.7% through 2026.

The beds segment is likely to expand at nearly 8.4% rate through 2026 owing to the increasing number of patients admitted to hospitals for surgical procedures.

The wood segment accounted for over 22.5% of medical furniture industry share in 2019 and is set to witness exponential growth due to the comfort and flexibility provided by the material.

The ambulatory surgical centers segment registered USD 7.4 billion revenue in 2019 and is anticipated to grow appreciably as physicians can perform complex surgeries in limited time.

North America captured nearly 10.6% of medical furniture industry share in 2019 and is likely to grow significantly owing to the rising prevalence of chronic disorders, further resulting in hospitalizations.