Hospital Furniture Market Research, 2032
The global hospital furniture market was valued at $8.1 billion in 2022, and is projected to reach $15.5 billion by 2032, growing at a CAGR of 6.7% from 2023 to 2032. The growth of the hospital furniture market is driven by technological advancements in the hospital furniture industry, rise in aging population, regulatory compliance, and the change in landscape of healthcare delivery. These drivers have propelled the industry to continually innovate, resulting in a wide range of specialized and patient-centric hospital furniture options designed to meet the evolving needs of healthcare providers and patients.
Moreover, increase in prevalence of chronic diseases such as diabetes & obesity and rise in disposable income in developing economies fuel the demand for advanced hospital furniture. For instance, according to National Diabetes Statistics Report by Centers for Disease Control and Prevention (CDC), 2022, about 37.3 million people were estimated to suffer from diabetes in the U.S. As the number of people with diabetes continues to grow, it results in significant demand for advanced hospital furniture that support the care and treatment of individuals with chronic health conditions.
- On the basis of product type, the hospital beds segment dominated the market in terms of revenue in 2022, and is anticipated to register fastest CAGR during the hospital furniture market forecast period.
- By application, the patient's furniture segment accounted for the largest share in terms of revenue in 2022, is expected to register fastest CAGR during the forecast period.
- By sales channel, the offline channel segment accounted for the largest share in terms of revenue in 2022. On the other hand, online channel segment is anticipated to register fastest CAGR during the forecast period.
- Region wise, Asia-Pacific generated the largest revenue in 2022, and is anticipated to grow at the highest CAGR during the forecast period.
Hospital furniture encompasses a wide range of specialized equipment and furnishings designed for use in healthcare facilities such as hospitals, clinics, nursing homes, and medical centers. This category of furniture plays a crucial role in creating a comfortable and functional environment for both patients and healthcare professionals. Hospital furniture is specifically engineered to meet the unique demands of healthcare settings, with a focus on patient care, hygiene, safety, and ergonomics.
The major factors driving the growth of the hospital furniture market include increase in prevalence of diabetes, rise in geriatric population, and technological advancements in wound care management products. One of the most significant drivers of the hospital furniture market has been technological advancements. The integration of cutting-edge technologies into hospital furniture has revolutionized patient care. Electric and motorized hospital beds, for instance, have improved patient comfort and made it easier for healthcare providers to manage patient positioning. Furthermore, the incorporation of wireless connectivity and smart features in hospital furniture has enhanced patient monitoring and data collection, improving the overall quality of care.
In addition, the increase in the aging population has had a profound impact on the hospital furniture market growth. As the elderly population grows, there is a higher demand for healthcare services, including long-term care and geriatric facilities. This demographic shift has led to the development and adoption of specialized hospital furniture designed to address the unique needs of elderly patients, such as adjustable chairs and beds with enhanced mobility features. Further, rise in healthcare expenditure, particularly in developed countries, has driven the demand for high-quality hospital furniture. The willingness of healthcare institutions to invest in modern and ergonomic furniture is a reflection of their commitment to improving patient comfort and enhancing the overall patient experience. This expenditure has created a competitive market for innovative and patient-centric hospital furniture.
Furthermore, patient comfort and experience have become increasingly important and act as a key driver in the hospital furniture market. Healthcare providers are recognizing the importance of a healing environment that includes comfortable and aesthetically pleasing furniture. Ergonomic design, customizable options, and patient-centered features, such as built-in entertainment systems, have become key considerations in hospital furniture development. Moreover, the hospital furniture market has expanded significantly in emerging markets owing to the development of healthcare infrastructure and increased access to healthcare services. Rapid urbanization and economic growth in countries such as China and India have created substantial opportunities for hospital furniture manufacturers to cater to the needs of these growing markets.
Various organizations along with the government are counselling people regarding diabetes and available treatment options. E-commerce (electronic commerce) has become a vital tool for small and large businesses globally, owing to a rise in preference of consumers for online shopping over traditional purchasing methods. Various animations through health apps to educate people regarding chronic wounds such as diabetic foot ulcer, venous leg ulcers & pressure ulcers and usage of wound care devices have contributed toward the growth of the medical furniture market.
The hospital furniture industry is segmented into product type, application, sales channel and region. By product type, the market is segregated into hospital beds, hospital chairs, hospital tables, stretchers, medical carts and others. The hospital beds segment is further divided into powdered beds and manual beds. The powdered beds segment is classified into electric beds and semi-electric beds. The hospital tables segment is further classified into examination table, operational table, obstetric table and other tables.
On the basis of application, the medical furniture market is classified into physician's furniture, patient's furniture and staff's furniture. By sales channel, the market is divided into offline channel and online channel . Region wise, market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (India, China, Japan, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
By Product Type
The hospital beds segment accounted for largest hospital furniture market share in 2022 and is expected to register the highest CAGR during the forecast period. This trend can be attributed to the increasing incidence of chronic diseases and a growing aging population, which is boosting the demand for hospital beds. Furthermore, the expansion of healthcare infrastructure and a rise in number of hospital admissions are expected to drive the growth of this segment. Additionally, the preference for contemporary hospital beds equipped with advanced medical technologies is on the rise, as healthcare providers prioritize patient comfort and safety.
The patient's furniture segment accounted for the largest hospital furniture market share in 2022, and is expected to register fastest CAGR, owing to rise in incidences of chronic diseases resulting in increase in number of long-term care patients, increase in number of hospital admissions, and necessitating specialized furniture to cater to their unique needs.
By Sales Channel
The offline channel segment accounted for the largest hospital furniture market size in 2022 and is anticipated to register fastest CAGR during the forecast period. This is attributed to the tangible, hands-on experience it provides, allowing healthcare providers to physically assess the quality and functionality of hospital furniture. Additionally, personalized consultations and direct interactions with sales representatives in the offline buying process cater to the specialized nature of hospital furniture procurement. The online channel segment is projected to register the highest CAGR during the forecast period owing to rise in popularity of online mode and number of users preferring online mode of purchasing.
The medical furniture market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the largest hospital furniture market size in 2022 owing to its robust healthcare infrastructure, which includes a high number of hospitals and medical facilities. This well-established healthcare system continually fuels the demand for hospital furniture. Furthermore, the region's emphasis on advanced medical technology and patient-centered care has created a need for specialized furniture that can seamlessly integrate with these technologies, prioritizing both patient comfort and efficient healthcare delivery. The high prevalence of chronic conditions, the availability of advanced healthcare facilities, and the presence of major industry players offering innovative hospital furniture products are also contributing to the market's growth.
However, Asia-Pacific is anticipated to register the fastest CAGR during the forecast period. This growth can be attributed to the rapidly expanding population, particularly in emerging economies, leading to an increased demand for healthcare services and the development of healthcare infrastructure, including the construction of new hospitals and clinics. Additionally, the rise in healthcare awareness and the adoption of modern healthcare practices are prompting healthcare facilities to invest in advanced furniture, including specialized items designed to enhance patient comfort and safety. Furthermore, the surge in healthcare expenditure in emerging economies presents promising hospital furniture market opportunity for market expansion.
Asia-Pacific is expected to grow at the highest rate during the forecast period. The market growth in this region is attributable to the presence of key players in the region. The Asia-Pacific region has made significant efforts in improving its healthcare infrastructure, advancements in diagnostic technologies and access to modern treatment modalities drive the growth of the hospital furniture market.
Asia-Pacific offers profitable opportunities for key players operating in the hospital furniture market, thereby registering the fastest growth rate during the forecast period, owing to the developments in healthcare infrastructure, rise in healthcare spending, as well as well-established presence of domestic companies in the region. In addition, the rise in contract manufacturing organizations within the region provides great opportunity for new entrants in this region.
Competitive analysis and profiles of the major players in the hospital furniture market, such as Narang Medical Limited., Baxter International Inc., Stryker Corporation, GPC Medical Ltd., LINET Group SE, Stiegelmeyer GmbH & Co. KG, GF Health Products, Inc., Amico Group of Companies, Paramount Bed Co., Ltd., and Arjo AB., are provided in the report. Major players have adopted product launch, agreement, and acquisition as key developmental strategies to improve the product portfolio of the hospital furniture market.
Recent Product Launch in Hospital Furniture Market
In June 2023, Baxter International Inc., an innovator in connected beds for med-surg and the intensive care unit (ICU), announced the U.S. launch of its new Hillrom Progressa+ bed for the ICU. Progressa+ offers new technology and features that help make it easier for nurses to care for patients, while supporting patient recovery.
Recent Acquisition in Hospital Furniture Market
In June 2020, GF Health Products, Inc. announced that it has acquired substantially all of the assets of Gendron, Inc. Gendron is one of the USA’s leading designers and manufacturers of mobile patient management, specializing in bariatric beds, mobility, seating, transfer and transport for long term care, home care, rehabilitation, and acute care.
Recent Agreement in Hospital Furniture Market
In February 2023, LINET Group SE entered into an agreement with Sizewise, to provide access to an expansive distribution network that can serve all parts of the U.S. The two companies also agreed on a specific product, which will pair the Eleganza 5 bed with mattresses that Sizewise manufactures in California.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the hospital furniture market analysis from 2022 to 2032 to identify the prevailing hospital furniture market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the hospital furniture market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global hospital furniture market trends, key players, market segments, application areas, and market growth strategies.
Hospital Furniture Market Report Highlights
Market Size By 2032
USD 15.5 billion
CAGR of 6.7%
2022 - 2032
By Product Type
By Sales Channel
Key Market Players
Paramount Bed Co., Ltd., Narang Medical Limited., LINET Group SE, Amico Group of Companies, Baxter International Inc., GPC Medical Ltd., Stiegelmeyer GmbH & Co. KG, GF Health Products, Inc., Arjo, Stryker Corporation.
This section provides various opinions in the global hospital furniture market. The factors such as expanding healthcare infrastructure, advancements in healthcare technology and availability of advanced furniture are expected to drive the market growth. Economic conditions, including factors such as GDP growth, per capita income, and insurance coverage, significantly impact the hospital furniture market. In regions with a wealthier population and robust economic conditions, healthcare facilities can afford to invest in better infrastructure, including quality hospital furniture. Patients in these regions often have access to better healthcare services, and this translates to a higher demand for advanced and comfortable furnishings in healthcare settings.
Moreover, the availability of advanced furniture has a significant impact on healthcare facilities' ability to meet regulatory and accreditation standards. Many healthcare standards require the use of furniture that meets specific criteria, such as fire-resistant materials, height-adjustable beds for patient safety, and ergonomic design. The availability of furniture that adheres to these standards ensures that healthcare facilities remain compliant and can pass accreditation inspections, demonstrating their commitment to patient safety and quality of care.
Furthermore, Asia-Pacific accounted for the largest share of the hospital furniture market in 2022 and is expected to experience significant growth during the forecast period owing to several key factors. Firstly, the region offers cost-effective healthcare solutions, attracting patients seeking high-quality medical care at a fraction of the cost compared to Western countries. Secondly, Asia-Pacific boasts a strong healthcare infrastructure with advanced facilities and highly skilled medical professionals. In addition, the availability of specialized medical procedures, shorter waiting times, and government support for medical tourism contribute to the region's growth. Moreover, Asia-Pacific's rich cultural heritage and tourist attractions provide a holistic experience for medical tourists, further fueling the market's expansion.