Posted On: 2022-03-03
Hospital beds acquired the largest market revenue share in the India Medical Furniture Market – 6Wresearch
With supportive government initiatives and policies for affordable and accessible medical facilities to cater the increasing population in India, investment in medical furniture is certain to increase in the coming years that would lead to increase in demand for medical infrastructure. Due to the outbreak of Covid 19 pandemic in 2020 in India, the shortage of medical infrastructure such as beds, ventilators, stretchers were exposed along with the inadequacy of India’s health infrastructure that led to states opening multiple covid dedicated centers and ramping up the hospital infrastructure for covid patients. Rise in number of chronic diseases where two in every three citizens in India suffer from some chronic disease and rise in rate of accidents leading to 415 deaths per day in road accidents in India propel the rate of admission to intensive care units where electric beds are widely used along with rise in tertiary hospitals and growing geriatric population that give preference to electric beds as it is difficult for them to make movement would further drive the market for medical furniture in the coming years.
According to 6Wresearch, India Medical Furniture Market size is projected to grow at a CAGR of 8.9% during 2022-2028. A rise in the popularity of plastic furniture has been witnessed and is attributed to the several benefits it holds, such as ease of transportation due to easy availability and being lightweight and the cost-effectiveness over metal and wood furniture, and its waterproof nature. These factors are leading to segment expansion over the forecasted period of growth in the medical furniture market.
According to Ananya Consul, Research Analyst, 6Wresearch, “Hospital beds would be the focal point in India’s medical furniture market owing to the rising focus of government on increasing number of beds by at least 30 per cent to ensure equitable access to healthcare facilities. Fully-electric beds dominate the India medical furniture market revenues followed by semi electric beds owing to their higher prices in the market attributable to the technological advancements associated with them.”
According to Eshita Goel, Manager, 6Wresearch, “Southern region would register the highest growth in the forecoming years as Karnataka, Telangana and Kerala have the maximum number of beds per 1,000 population and Chennai leads in medical tourism market in India. Also, Kerala has the current highest elderly population (16.5%) followed by Tamil Nadu, according to National Statistical Office report which would also lead to increased growth of medical furniture market in this region.”
Some of the major companies in India medical furniture market include Arjo Huntleigh Healthcare India Pvt Ltd., Paramount Bed India Pvt. Ltd., Stryker India Pvt Ltd., Narang Medical Ltd., PMT Healthcare Pvt Limited, Meditech Technologies India Private Limited, Midmark India Pvt Ltd., United Surgical Industries, Gita Mediquip Pvt. Ltd., GPC Medical Limited and Godrej & Boyce Mfg. Co. Ltd.,
“India medical furniture market (2022-2028)” report provides an in-depth analysis with 16 figures and 9 tables, covered in 84 pages. The report comprehensively covers the market by product type, applications, hospital beds and regions. India medical furniture market report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas, market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.