The report titled “India
Hospital Furniture Market Outlook to FY’2025- By Type of Products (Hospital
Beds, OT Tables, OT Lights, Stretchers and Others), By Organised and
Unorganised Market, By End Users (Hospitals, Clinics and Diagnostic Chains and
Home Healthcare Companies) provides
a comprehensive analysis on the status of the hospital furniture manufacturing
industry in India. The report covers various aspects including the market size,
value chain, ecosystem, market segmentation by value and volume, industry
structure in the country, demand and supply analysis, growth facilitators,
bottlenecks faced by the industry, government initiatives and more. The report
concludes with projections for future of the industry including forecasted
market size & segmentation in terms of revenue by 2025, COVID-19 impact and
analysts’ take on the future.
India Hospital Furniture Market Overview and
Size:-
India
is expected to rank amongst the top 3 healthcare markets in terms of
incremental growth by 2020. Increasing public healthcare expenditure in India
at a CAGR of 14.6% over the last 5 years and cost advantage over its peers in
the West and Asia offering high- quality medical services has led to the
increasing demand of hospital furniture by the hospitals and other end users. The
India Hospital Furniture industry has grown at a CAGR of 7.0% on the basis of
revenue over the period 2015-2020. Growth
of ~25% in medical tourism is one of the largest growth drivers for this
industry. Medical tourism industry size has doubled from USD 3.0 billion in
2017 to USD 6.2 billion in 2018.
India Hospital Furniture Market Segmentations:-
By Type of Products: Hospital Beds contributed the major chunk of
revenue in 2019 on the basis of revenue owing to the high sales volume. Motorized
or electrical beds have been the most demanded furniture product for big
private hospitals attributed to the growing number of patients requiring
bariatric care as well as the rising geriatric population. OT Tables and OT
lights are the other major segments owing to the high price associated with
these products. Stretchers and other products contribute a smaller share owing
to the low prices and low volume requirement.
By Organised and Unorganised Market: Unorganised segment dominates the revenue share
because of the fragmented nature of the market and the lack of regulatory
authority and guidelines. There is a need for conferring to benchmark for
quality standards of devices which are lacking because of which poor quality
products have captured a significant proportion of the market. It is
anticipated that the industry will soon come under the umbrella of a recognized
body to maintain the standards.
By End Users: Hospitals contributed the majority revenue share in the
end-user segment. Low share of government spending and strong demand trends has
led to increasing investment by private players. Home healthcare is one of the growing
segments as people are getting more and more aware about the benefits of
availing healthcare services at home.
Competitive Landscape of India Hospital Furniture
Market
The industry is highly competitive with around 220
manufacturing firms present in the market. The industry is still dependent on
imports owing to the use of excellent quality and patient friendly products.
Moreover, the raw material and the parts are imported majorly from China basis
the low cost of products. The market is highly fragmented with the leading
local players namely Midmark, Steelcraft, Narang Medical, PMT Healthcare, GPC
Medical capturing <10.0% of the market share in FY’2019. These players
compete on the basis of parameters such as product pricing, distribution
network, product quality, clientele, partnerships, product innovation, customer
support and more.
India Hospital Furniture Market Future Outlook &
Projections
The
hospital furniture industry is expected to recover from the Covid-19 pandemic
and witness growth by end of 2021. The growth of end-user entities including hospitals
and home healthcare companies is expected to drive the growth of the industry. Indian
medical tourism industry is growing at the rate of 18% y-o-y and is expected to
reach USD 9bn by end of 2020-21, thereby showcasing the need of healthcare
establishments. The adoption of higher quality and technology-centric products
by local manufacturers is also expected to increase over the forecast period. Government
initiatives such as Make in India and Ayushman Bharat Scheme are expected to
boost the healthcare furniture industry in India.
Key
Segments Covered:-
By Type of Products
Hospital
Beds (Manual and Motorized)
OT
Tables (Local and Imported)
OT
Lights (Local and Imported)
By
Stretchers (Single Fold, Trolley Based and Hydraulic)
Others
By End Users
Hospitals
Clinics
and Diagnostic Chains
Home
Healthcare Companies
Companies
Covered:-
Arjo Huntleigh
Hill-Rom Services Inc
Paramount Bed Holdings
Stryker Corporation
Narang Medical
Steelcraft Hospital Furniture Industries Pvt.
Ltd. – Vissco Group
Midmark India Pvt. Ltd. (Janak Healthcare)
Getinge
GPC Medical
Qualisurge Surgicals (Bharat Surgical Co.)
ARVS (Cognate India)
PMT Healthcare
Key Target Audience:-
Hospital Furniture Manufacturing
Companies
Hospital Furniture
Exporting Companies
Hospital Furniture
Importing Companies
Original Equipment
Manufacturers
Consultancy Companies
Industry Associations
Regulatory Bodies
Time Period Captured in the Report:-
Historical Period – 2015-2020
Forecast Period – 2020-2025
Key
Topics Covered in the Report:-
India Healthcare Industry Overview
Key Market Drivers- India Healthcare Industry
Industry Landscape- Indian Hospital Furniture
Manufacturers
India Hospital Furniture Industry Size,
FY’2015-FY’2020
Government Schemes & Initiatives for
Healthcare Industry
Demand and Supply Side Analysis – Hospital
Furniture Industry
Industry SWOT Analysis
Key Factors Determining the Choice of Hospital
Furniture
Bottlenecks Faced by Hospital Furniture Industry
Import and Export Scenario- Hospital Furniture
Market
Competitive Landscape of India Hospital Furniture
Market
Future Market Size and Segmentations, FY’2020-FY’2025F
Covid-19 Impact on the Industry & the Way
Forward
Analysts’ Recommendations
For
More Information on the research report, refer to below link:-
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Ankur Gupta, Head Marketing & Communications
+91-9015378249
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