Global Healthcare Furniture Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Healthcare Furniture Market 2021 (Includes Business Impact of COVID-19)
Global Healthcare Furniture Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2030 is a recent report generated by Trusted Business Insights. The global healthcare furniture market report has been segmented on the basis of product type, material, sales channel, end user, and region.
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The global Healthcare Furniture market size was valued at USD$13.14 billion in 2020 and is projected to reach USD $24.24 billion by 2030, and is anticipated to expand at a CAGR of 5.90% over the forecast period from 2020 to 2030.


Global Healthcare Furniture Market: Overview


Healthcare furniture comprises of a special type of furniture which is specially designed for hospitals and other related medical treatment centers as per requirement of the patients. In addition, this type of furniture includes special tables, chairs, trolleys etc., such as ICU beds, wheelchairs, and patient trolleys.


Global Healthcare Furniture Market: Dynamics


The growing number of hospital infrastructure development projects across the globe is one of the major factors expected to drive global market growth over the forecast period. These type of furniture is mainly intended to fulfill specific needs of the patient, which aids to a physician to treat and enhance the comfort level of the patients regarding therapeutics, which is expected to fuel demand for healthcare furniture. In addition, portability is one of the major aspect to be considered while buying these types of furniture, because of the furniture used in one section of the hospital that should be suitable for other section too, which aids to interchangeability and cost-effective solution. Technological improvements in terms of the design of healthcare furniture coupled with increasing demand for advanced furniture is another factor expected to support the global market growth. For instance, Stryker Corporation has introduced various innovative stretchers including motor-based stretcher and eye surgery chair.

However, the high cost of technologically advanced furniture is one of the key factors projected to hamper growth of the target market. In addition, extended lifespan and durability of these types of furniture limits the repetitive purchase and hence expected to limit growth of the global market over the forecast period.


Global Healthcare Furniture Market: Segment Analysis


Among product type segments, the beds segment is projected to account the significant share of the global market, in terms of revenue, owing to increasing demand from the healthcare industry.

Among material segments, the wood segment is anticipated to register substantial growth, owing to its properties including eco-friendly material and durability.

Among sales channel segments, the online segment is projected to register considerable growth, owing to multiple discounts on bulk orders and quick delivery services offered by sellers.

Among end-user segments, the hospitals segment is expected to contribute a significant share of the target market in terms of revenue, owing to the rising demand for patient-specific furniture among clinics and hospitals.


Global Healthcare Furniture Market: Regional Analysis


North America market is projected to account significant revenue share of the global market, followed by the Europe market, owing to the strong presence of the healthcare industry coupled with increased spending on health care.  Asia Pacific healthcare furniture market is expected to witness significant growth, owing to a growing number of hospitals and clinics infrastructure development activities. In addition, the increasing prevalence of chronic diseases and other health issues has led to increasing demand for health service providers which turns in growth of the target market in the region. A growing number of geriatric population and expenditure on healthcare services are some other factors expected to support the target market growth. Healthcare furniture market in the Middle East & Africa is expected to register moderate growth over the forecast period.


Below are the active patents related to Healthcare Furniture Market.


Patent Number: US20170160709A1

Smart Furniture

Abstract

A smart furniture includes a furniture article designed for being used by a user and a smart system which includes a detection module built-in with the furniture article for detecting health data of the user when the furniture article is used. In particular, the detection module includes a plurality of sensors located at a user supporting surface of the furniture article for collecting health data of the user. The health data of the user is then analyzed to ensure the user to use the furniture article in a proper way.

Application File Date: 2015-12-07

Application Granted Date: 2020-03-31

Current Assignee: Furniture of America Inc

Patent Number: US20070174965A1

Hospital bed

Abstract

A patient support apparatus may include a base frame, lift arms, an intermediate frame, a deck support having three articulating sections, a brake system, various drive motors, actuators, and sensors, at least one power source, communication devices, and at least one controller, wherein the lift arms, articulating sections, drive motors, brake system, and actuators may be controlled from the at least one controller and in response to signals received by the various sensors, while storing data internally and/or sending data to a remote location.

Application File Date: 2006-12-19

Application Granted Date:  2011-08-30

Current Assignee: Stryker Corp

Global Healthcare Furniture Market Segmentation:

Segmentation by Product Type:

  
Tables
  
Beds
  
Seating Furniture
  
Others (Trolleys, Stands etc.)

Segmentation by Material:

  
Wood
  
Plastics
  
Metal
  
Others (leather, glass, steel, etc.)

Segmentation by Sales Channel:

  
Offline
  
Online

Segmentation by End User:

  
Clinics
  
Diagnostic Centers
  
Hospitals


Key Market Players included in the report:


  
Anetic Aid Limited
  
ARJO AB
  
Beaver Healthcare Equipment
  
Bristol Maid Hospital Metalcraft
  
David Bailey Furniture
  
DRE INC
  
Drive DeVilbiss Healthcare
  
GF Health Products, Inc.
  
GPC Medical Ltd.
  
Hill-Rom Holdings Inc.
  
Invacare Corporation
  
KI
  
Knightsbridge Furniture
  
Medline Industries, Inc.
  
Moore Medical
  
NAUSICAA Medical
  
Renray Healthcare Ltd.
  
SCF Contract Furniture
  
Steris Plc.
  
Stryker Corporation
  
Sunflower Medical
  
Sunrise Medical (US) LLC


Below are the key development related to Healthcare Furniture Market in 2020 and 2021.


July 2021: Kewaunee Scientific Corporation Launches EVERHUTCH© Healthcare Brand. Kewaunee Scientific Corporation (NASDAQ: KEQU), a recognized global leader in the design, manufacture, and installation of laboratory, healthcare, and technical furniture products, officially launches its EVERHUTCH healthcare brand. Developed by an experienced team of product designers and tested by local healthcare professionals, the EVERHUTCH brand is focused on meeting the growing need for products that enable healthcare professionals to better organize their workspaces and operate more effectively. EVERHUTCH leverages Kewaunees extensive existing manufacturing capabilities and is now available on a national level through a dedicated distribution network. Source

May 2021: Godrej Interio strengthens its healthcare business across India Seeks to expands its healthcare business by 60-70%. Godrej & Boyce, the flagship company of the Godrej Group, announced that its business Godrej Interio has increased its production capacity of beds by 2.5x daily, over a period of the last year, to meet the rising demand in the wake of the covid-19 crisis in the country. They have supplied over 10,000 hospital and ICU beds in addition to a similar number of specialised mattresses and other accessories to hospitals. In the last 14 months, Godrej Interio also set up a new manufacturing plant at Khalapur in Maharashtra. The facility is equipped with a flexible production line that can accommodate a capacity of 300 hospital beds per day among other healthcare accessories. Source 

January 2021 : Limerston Capital-backed Prism Healthcare acquires Repose Furniture. Limerston Capital portfolio company Prism Healthcare has completed the acquisition of Repose Furniture Limited (Repose) adding a further GBP7 million in revenues and GBP1.7 million in EBITDA. Based in Cradley Heath (Birmingham) Repose designs, manufactures and distributes bespoke, specialist rise and recliner chairs for use in the healthcare sector in the UK and internationally. Source