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Medical furniture is an indivisible aspect of any medical infrastructure. The phrase medical furniture comprises all important goods and materials (stationary or movable assets) used in hospitals and physicians’ office, either to help patient or physicians.

The market of medical furniture is segmented on the basis of types of products, such as cabinet and casework, metal cabinets, scrub sinks, bedside tables, medical tables and carts, instrument stands, kick buckets, IV poles, medical hampers, medical support, stretchers, beds, recovery couches, chairs, medical stools, blood drawing chair, waste container, inspection beds, portable toiletry, waiting room furniture and others. Furthermore, the market is also segmented on the basis of applications, such as physician/surgeon’s furniture (examination table, eye surgery chair and others), patient’s furniture (stretchers, bedside table and other) and support staff’s furniture (IV stand, waste container and others). In addition, the market is also segmented on the basis of geography, such as North America, Europe, Asia-Pacific and Rest of the World (RoW). 

The North American region is the most dominating market in the world, owing to extensive number of hospitals and healthcare infrastructure. On the other hand, Asia-Pacific and RoW are the most promising markets in the upcoming period, owing to rise in number of in-patient treatments and medical infrastructure.

The market of medical furniture is expected to show steady growth rate during the forecast period from 2014 to 2020. This growth is anticipated to drive by various factors, such as increasing number of medical infrastructure across the globe, particularly in developing countries and steadily increasing technological innovations in hospital furniture. 

The rising number of hospitals across developed countries and high number of hospitals in developed nations is considered as the key factor driving market growth. For instance, according to data enumerated by the Statista, the number of hospitals in the U.S. has remained steady since 2009, from 5,795 in 2009 to 5,723 in 2012. This large number of hospitals would increase the demand of hospital furniture in the near future. Similarly, according to the Eurostat, increasing healthcare expenditure and patient base would increase the financial inflow to the hospitals, which would increase their purchasing capabilities and ultimately contribute in the market growth. 

Moreover, gradual increase in technologically advanced medical furniture is also supporting the growth of the medical furniture market. For instance, owing to rise in technological implementation in designing of medical furniture, a number of advanced hospital stretchers, such as motorized stretcher chair and eye surgery chair by Stryker Corporation are being introduced in the market. These all factors altogether would contribute in the growth of the hospital furniture market during the forecast period from 2014 to 2020. On the other hand, long life of hospital furniture materials and high cost associated with technologically innovative furniture products are considered as key factors affecting the market growth negatively. 

Average life of hospital furniture is around ten to twelve years (in case of non-technological products, such as non-motorized stretchers and chairs). This long life span of these products limits the repetitive purchase and thus affects market growth negatively. Similarly, average cost of motorized stretcher ranges from USD 10,000 to USD 25,000. This high cost of technologically innovative devices would affect the market growth negatively. Hence, these factors are considered as key hurdles in market growth of hospital furniture.

Some of the major players engaged in commercialization of the hospital furniture products in the market include Stryker Corporation, Anetic Aid Limited, DRE INC, GPC Medical Ltd., Moore Medical, HillUSA, Hill-Rom Holdings Inc., Beaver Healthcare Equipment and many others.

This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include 

  • North America 
  • Asia Pacific 
  • Europe
  • Rest of the World  

This report provides comprehensive analysis of 

  • Market growth drivers 
  • Factors limiting market growth
  • Current market trends 
  • Market structure
  • Market projections for upcoming years 

This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis. 

Reasons for Buying this Report

  • This report provides pin-point analysis for changing competitive dynamics
  • It provides a forward looking perspective on different factors driving or restraining market growth 
  • It provides a six-year forecast assessed on the basis of how the market is predicted to grow 
  • It helps in understanding the key product segments and their future
  • It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
  • It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments 
  • It provides distinctive graphics and exemplified SWOT analysis of major market segments 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Medical Furniture Market

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