The medical furniture market will exceed $8.5 billion by 2025, according to a new research report by Global Market Insights, Inc.
Advancements in healthcare infrastructure, especially in developing economies, will propel medical furniture market growth in coming years.
Governments in emerging economies are improving hospital infrastructure and patients have a preference for hospitals equipped with quality infrastructure including medical furniture.
The table segment currently accounts for a significant revenue share and is expected to witness 5.8 percent growth from 2019 to 2025. The segment includes a wide range of products such as surgical tables, bedside tables and examination tables.
The metal segment dominated the medical furniture market in 2018 with 50.6 percent revenue share. Increased levels of safety associated with metal furniture favors segment growth.
The home healthcare settings segment will grow at 6.1 percent over the forecast time frame owing to several advantages associated with these institutions.
The Latin America medical furniture market was valued at $728 million in 2018. Considerable regional revenue size can be associated with the development of healthcare infrastructure in countries such as Brazil and Mexico.
Notable industry players operational in the medical furniture market are Philips Healthcare, Johnson & Johnson, GE Healthcare, Luxor, Invacare Corp., Omron Corp., Met-lak, Kovonax, Promotal, Steris Corp., Skytron, Hill-Rom Holdings, Getinge and Stryker.
Have something to say? Share your thoughts with us in the comments below.