The increasing investment by healthcare units and mortuaries for the procurement of high-quality mortuary equipment in order to provide better preservation of cadavers is propelling the global mortuary equipment market significantly. The augmenting need for well-preserved cadavers for forensic tests as well as in academic and commercial research is fueling the demand for advanced mortuary equipment across the world. The technical advancements, boosting the usability of mortuary equipment, is likely to lead to a remarkable rise in their sales over the next few years.
The global market is likely to witness a healthy rise in its valuation from US$173.4 mn in 2014 to US$306.0 mn by 2023, expanding at a CAGR of 6.30% during the period from 2015 to 2023. Although the future of the worldwide market for mortuary equipment is projected to be teeming with opportunities, it may face hurdles due the high cost of technically advanced equipment.
Refrigerators and Freezers to Exhibit Strongest Demand
Refrigerators and freezers, cadaver lifts, cadaver trolleys, autopsy and dissection tables, and various other instruments are the main mortuary equipment used across the world. Refrigerators and freezers have been witnessing the strongest demand among all equipment since the last few years. In 2014, the segment accounted for a share of 34.0% in the overall market with a revenue of US$59.0 mn.
Over the coming years, the segment is likely to continue to witness the highest demand, aided by the emergence of portable and advanced refrigerators. Alongside, various government mandates, enforcing hospitals and healthcare institutions to utilize refrigerators and freezers for the proper storage and maintenance of corpses are also expected to boost their demand significantly in the near future.
Apart from this, cadaver lifts and trolleys are also expected to witness a significant rise in their demand in the years to come, fueled by the increasing sale of hydraulic autopsy carriers, portable cadaver scissor lifts, and automated cadaver lifts. Cadaver trolleys, specifically, is likely to register the fastest CAGR of 7.50% during the period from 2015 to 2023.
Asia Pacific to Report Fastest Growth Rate
Europe, North America, Asia Pacific, Latin America, and the Rest of the World are the key regional markets for mortuary equipment. Among these, North America acquired the leading position in 2014 with a total revenue of US$57.0 mn and was trailed by Europe, which earned a revenue of US$48.4 mn the same year. The continual advancement in technology has kept the demand for mortuary equipment high in this region and is expected to remain the same in the forthcoming years, ensuring the lead of this regional market.
On the other hand, the untapped markets in emerging countries in Asia Pacific and Latin America are projected to fuel the demand for mortuary equipment in these regions in the years to come. The rapid advancement in the healthcare infrastructure in China and India is also anticipated to create potential opportunities for mortuary equipment manufacturers over the next few years.
Mopec and Kugel Medical GmbH are the key manufacturers of mortuary equipment across the world. In 2014, both the companies held a share of more than 50% in the overall market. Thermo Fisher Scientific Inc., Mortech Manufacturing Inc., LEEC UK, Flexmort, and Ferno-Washington Inc. are some of the other prominent players in this market.
This report on mortuary equipment market analyzes the current and future prospects of the market globally. The stakeholders of this report include companies engaged in manufacturing and commercialization of a wide range of mortuary products. This report encompasses an elaborate executive summary, with a market snapshot that provides overall information of various segments and sub-segments included in the study scope. This section also provides the overall information and data analysis of the global mortuary equipment market with respect to the leading market segments based on types of products, application, and different geographic regions.
The global mortuary equipment market has been segmented on the basis of product type, application, and geography. The product type has been further segmented into refrigerators and freezers, autopsy and dissection tables, cadaver lifts, cadaver trolleys and others. The application segment has been further categorized into the use of these equipment in research and academics, forensics, and cultural. The market for each of these equipment and application has been analyzed on the basis of product types and application areas. Market revenue in terms of USD million for the period between 2013 and 2023 along with the compound annual growth rate (CAGR %) from 2015 to 2023 are provided for all the segments, considering 2014 as the base year.
The market overview section of this report explores market dynamics such as drivers, restraints, and opportunities that have predominant impact on the mortuary equipment market presently and could influence the market in future as well. The market attractiveness analysis has been provided in the market overview section in order to explain the intensity of competition in the market in different geographies. Porter’s five forces analysis is also explained in this section to understand the mortuary equipment market considering different parameters that have an impact on the sustainability of the companies operating in this market. The competitive scenario between different market players is evaluated through market share analysis in the competitive landscape section of the report. All these factors would help the market players to take strategic decisions in order to strengthen their positions and expand their shares in the global market. Furthermore, a brief idea about the regulatory scenario along with the value chain analysis is also provided in the report.
Geographically, the mortuary equipment market been categorized into five major regions namely North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Market revenue in terms of USD million for the period between 2013 and 2023 along with the CAGR % from 2015 to 2023 are provided for all the regions, considering 2014 as the base year. The recommendations section included in the report would assist existing market players in expanding their market share and new companies in establishing their presence in the global mortuary equipment market.
The report also profiles major players in the mortuary equipment market son the basis of various attributes such as company overview, financial overview, business strategies, product portfolio, and recent developments. Some of the major players profiled in this report include Mopec, Kugel Medical GmbH Co. & KG., LEEC Ltd., Mortech Manufacturing, Inc. and Thermo Fisher Scientific.
The global mortuary equipment market is segmented into the following categories:
- Mortuary Equipment Market, by Product Type
- Refrigerators and Freezers
- Autopsy and Dissection Tables
- Cadaver Lifts
- Cadaver Trolleys
- Mortuary Equipment Market, by Application
- Research and Academics
- Mortuary Equipment Market, by Geography
- North America
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)