Country-niche Players Dominate the Market Holding Majority Revenue Share Despite the Presence of about ~500 Competitors Comprising a Large Number of Country-Niche Players and Some Specialist Players, finds a recent market study on the Global Hospital Furniture Market by Ken Research
A hospital infrastructure relies
on its furnishings which are designed in a way to least interfere with the
daily operations of medical personnel and patient comfort. Hospital furnishing
includes hospital beds, cabinets, examination couches, and bedside tables.
Hospital furniture has sole utilization in clinics, hospitals, nursing homes,
and diagnostic centers. Most of the furniture is designed in such a way as to
draw in potential consumers or patients.
Ken Research
shares 3 key insights on the competitive landscape of this high
opportunity/dynamic market from its latest research study.
Global
Players Constitute ~5% of the Total Competitors, While Regional Companies
Represent ~25%.
A comprehensive competitive
analysis conducted during the Research
Study found that the Global Hospital
Furniture Market is highly competitive with ~500 players, including globally
diversified players, regional players, and a large number of country-niche
players with their niche in hospital furniture manufacturing and local supply
for end-user like hospitals, clinics, and diagnostic centers. The country’s
niche players in the hospital furniture market mainly focus on robust and
cheaper distribution networks to identify and service small segments of the
market. Invacare Corporation, Getinge, and STERIS Corporation are among the
leading players in the Hospital Furniture Market globally.
Acquisition
and Mergers Drive the Major Players in Formulating their Key Strategies
Detailed comparative analysis of
key competitors available within the Research Study shows that numerous
companies such as Getinge, STERIS Corporation, HermanMiller, and others are
highly focused on providing a significant number of hospital furniture
solutions that can be used across multiple end-users. Furthermore, several
companies and organizations are strategically opting for multiple acquisitions
and mergers.
- In November 2021, Getinge, a global provider
of healthcare products and systems designed acquired Verrix LLC., the
California-based medical device company. With this, the company is looking
forward to adding the new infection control technology to its customer
offerings.
- In June 2021, STERIS Corporation an
Irish-domiciled medical equipment company acquired Cantel Medical, a
global provider of infection prevention products and services. This
acquisition is likely to extend STERIS’s products and offerings to a
global customer.
Increasing
Government Initiatives, Strategies, and Investments in Hospital Furniture
Market Growth.
- As per the Indian Union Budget 2022-23, US$
675.72 million was allocated to the PM-ABHIM to strengthen India’s health
infrastructure and to improve the country’s primary, secondary and
tertiary care services. This is likely to boost demand for hospital
furniture.
- The various initiatives and policies adopted
by the Government of India, which is likely to boost the hospital
furniture market during the forecast period. In July 2022, the World Bank
approved a US$ 1 billion loan for India’s Pradhan Mantri - Ayushman Bharat
Health Infrastructure Mission.
For More
Information, refer to below link:-
Global
Hospital Furniture Raw Material Suppliers
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