Global Hospital Furniture Market – Competitive Analysis:
The World Hospital Furniture Market is characterized by the presence of several well-established and small players, the global market of hospital furniture appears to be highly competitive and fragmented. Major players are increasingly expanding their footprint in the emerging nations, making it putting pressure on the regional players, especially in terms of features such as type, product portfolios, and pricing.
The World Hospital Furniture Market is witnessing intensified competition which is expected to get more intensified further during the forecast period. Hospital furniture market is a saturated market due to the presence of many local and multinational players. Number of different products is available into the market and so key players are trying to focus on acquisition and strategic alliances with local companies to minimize the competition.
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New product launch is a business strategy adopted by the companies in this market. For instance, in September 2015, Stryker Corporation completed the acquisition of Muka Metal, A.S. Muka is a privately held business headquartered in Kayseri, Turkey that sells hospital beds, stretchers and related patient room furniture and accessories that serve markets across Turkey and other regions globally. The acquisition of Muka aligns with act as a strategy to expand Styker’s global presence through existing channels with an established and trusted brand.
Global Hospital Furniture Market is expected to grow at a CAGR of 9.8% during forecasted period from 2017-2023. According to a recent study report published by the Market Research Future, the global Hospital Furniture market is booming and expected to gain eminence over the forecast period. The market is forecasted to demonstrate a spectacular growth by 2023, surpassing its previous growth records in terms of value with a prominent CAGR during the anticipated period (2017 – 2023).
Hospital Furniture Market Segmentation:
Global hospital furniture market is segmented on the basis of type, into bedside tables, OT table, instrument stands, stretchers, hospital beds, chairs, scrub sinks, waste container, trolley and others. On the basis of application, they are segmented into physician furniture, patient’s furniture and staff’s furniture. Physician furniture is sub segmented into examination table, surgery chair and other. Patient furniture is sub segmented into stretchers, bedside table and other and staff’s furniture is further segmented into stands and other. On the basis of end users, the market is segmented into hospital, diagnostic centres, clinics and others.
Hospital Furniture Market Regional Analysis:
On regional basis, America accounts for the largest market for the global hospital furniture due to high healthcare expenditure and increasing demand for better infrastructure and furniture by people. Europe and Asia Pacific share nearly similar amount of market but Asia Pacific region is expected to grow at the fastest CAGR. The growth of Asia Pacific market is due to presence of rapidly developing economies. Whereas, middle East and Africa has the lowest market for hospital furniture.
Top Manufacturers In-depth Analysis:
Stryker Corporation (US), Bio Medical Solutions (India), KI (US), GPC Medical (India), Anetic Aid Limited (UK), DRE INC (US), Bristol Maid Hospital Metalcraft (UK), The Brewer Company (US), GPC Medical Ltd (India), Chang Gung Medical Technology (China), Hill-Rom (US), Narang Medical (India), Beaver Healthcare Equipment (UK), Renray Healthcare Ltd. (UK), Moore Medical LLC (US), Beaver Healthcare Equipment (UK) are some of the prominent players at the forefront of competition in the Global Hospital Furniture Market and are profiled in MRFR Analysis.
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Major TOC For Global Hospital Furniture Market Research Report – Forecast to 2027:
1 Report Prologue
2 Market Introduction
2.2 Scope of Study
2.3 Research Objective
2.4 Assumptions & Limitations
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
4 Market Dynamics
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