Hospital Furniture Market size is set to grow by USD 7.83 billion from 2023-2027, Rise in international accreditation by hospitals boost the market, Technavio

NEW YORK, April 10, 2024 /PRNewswire/ — The global   size is estimated to grow by USD 7.83 bn from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of  8.38%  during the forecast period.  The global hospital furniture market is driven by international accreditation, particularly from the Joint Commission International (JCI). Over 1,000 hospitals worldwide have obtained JCI accreditation, adhering to rigorous standards for infrastructure, services, and amenities. Medical tourists prefer JCI-accredited hospitals, leading to increased demand for high-quality furniture. Key products include respiratory equipment, smart beds, examination chairs, and disposable income influences market growth in developing economies. Regulatory compliance, patient comfort, and ergonomics are essential considerations. 

For more insights on the historic (2017 – 2021) and forecast market size– 

Segment Overview 

This hospital furniture market report extensively covers market segmentation by Application (Physician furniture, Patient furniture, Staff furniture) Product (Hospital beds, Specialty medical chairs and tables, Others) Geography (North America, Europe, APAC, Middle East and Africa, South America)

Market segmentation by Application

The Hospital Furniture Market encompasses Stretchers, Hospital Beds, Chairs, Scrub Sinks, Waste Containers, Trolleys, and various other essentials. The beds segment, including ICU beds, Fowler beds, ordinary hospital beds, pediatric beds, maternity beds, witness steady growth due to increasing work-related injuries, age-related diseases, and medical emergencies. The hospital chairs sector includes birthing chairs, dialysis chairs, ophthalmology chairs, ENT chairs, dentistry chairs, pediatric chairs, bariatric chairs, and geriatric chairs. End-users, such as Hospitals, Diagnostic Centers, and Clinics, require patient furniture like examination sofas, examination lights, drawers, benches, over-bed tables, and physician’s furniture, including examining tables and surgical chairs. Chronic conditions like diabetes and cardiac arrest further boost the demand for these products. Staff’s Furniture, such as wheelchairs and walkers, are also integral to the market.

Geography Overview

The Hospital Furniture Market in North America has experienced significant growth due to the increasing number of casualty admissions, particularly in chronic diseases such as diabetic foot ulcers, venous leg ulcers, and pressure ulcers. This trend has led to increased demand for wound care devices, medical carts, and specialized beds including powdered, manual, electric, semi-electric, and bariatric models. The region’s robust healthcare infrastructure, advanced medical technology, and patient-centered care have further fueled sales. Major industry players cater to various medical facilities and services including intensive care, acute care, critical care, long-term care, home care, and obstetrics. With growing healthcare awareness and modern healthcare practices, the market encompasses examination tables, operational tables, and obstetric tables. Additionally, mobility equipment such as bariatric wheelchairs and mobility scooters, and medical furniture costs for bedside tables and instrument stands, are essential considerations in this market. Government initiatives, hospitals and clinics, and elderly illnesses such as paralysis and obesity also contribute to the market’s expansion. 

Insights on the market contribution of various segments including country and region wise, historic (2017 – 2021) and forecast market size–

• The older population is expanding globally, with 8.87% being 65 years and above (World Bank Group). This demographic shift significantly impacts developed and developing countries, including the US, South Korea, China, Japan, Italy, Russia, Australia, Germany, Taiwan, Canada, Poland, and Ukraine. The hospital furniture market caters to various needs, such as stretchers, ICU beds, geriatric chairs, and examination sofas, for end users like Hospitals, Diagnostic Centers, and Clinics, addressing chronic conditions like diabetes and cardiac arrest.
• The hospital furniture market is highly competitive, led by major players like Arjo, Invacare Corporation, and Stryker. New entrants face challenges due to high manufacturing costs and lack of large-scale facilities. Key trends include advanced medical technology, patient-centered care, and expansion in developing countries. Products include chronic wound care devices, beds (manual, electric, semi-electric), tables (examination, operational, obstetric), and mobility equipment (bariatric beds, wheelchairs, scooters). Costs cover bedside tables, instrument stands, and other medical furniture.

Insights on Market Drivers, trends, & Challenges, historic period(2017 – 2021) and forecast period(2023-2027)- 

Research Analysis

In the context of the evolving healthcare landscape, the Hospital Furniture Market plays a pivotal role in addressing the needs of chronic disease patients, elderly illnesses, and obesity-related issues. Patient expectations for quality care and comfort are paramount, driving the demand for advanced hospital furniture designs. Analyst Reviews suggest that the Hospital Beds Segment will witness significant growth due to the increasing number of hospital admissions and the need for Regulatory Compliance. Hospital infrastructure, including hospitals and clinics, nursing homes, and medical centers, require mobility equipment and physician furniture to ensure efficient Healthcare Delivery. Insurance & Reimbursement Scenarios also impact the market dynamics, with disposable income being a crucial factor in Developing Economies. The Hospital Furniture Market encompasses plain hospital beds, examination chairs, ophthalmic chairs, dental chairs, physician furniture, staff furniture, and examination couches, catering to the diverse needs of the healthcare industry.

Market Research Overview

The Hospital Furniture Market encompasses a wide range of products designed for healthcare institutions. These include chairs, tables, cabinets, and various types of beds such as chronic care, intensive care, and operating tables. Hospital furniture is expected to be durable, easy to clean, and adjustable to cater to different patient needs. Additionally, it should be comfortable and aesthetically pleasing to create a calming environment for patients. Other essential hospital furniture includes storage systems, patient lifts, and mobility aids. The market for hospital furniture is driven by the increasing demand for quality healthcare services and the need to replace aging infrastructure. Companies like Bedside Mobility, Invacare, and Stryker are major players in this market. The use of advanced materials and technology in hospital furniture production is also a growing trend. Overall, the hospital furniture market is a significant contributor to the healthcare industry, ensuring that patients receive optimal care in comfortable and functional environments.

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio