Global Medical Furniture Market Size

Medical Furniture Market Analysis

The medical furniture market is projected to register a CAGR of 5.6% during the forecast period (2022 - 2027).

The healthcare system has witnessed enormous challenges as a result of the COVID-19 pandemic. All outpatient treatments were postponed or restricted during the COVID-19 pandemic to reduce the risk of viral transmission, as most chronic pain therapies were regarded as non-urgent. There was a huge barrier for people with disabilities in accessing health care services and information. Also, they had a higher risk of suffering from depression because of the social distancing and associated isolation protocols. According to the World Health Organisation's report on 'Hospital Beds, Stretchers, and Mattresses During the COVID-19 Pandemic,' published in October 2020, there might have been an increase in demand for medical furniture such as hospital beds, stretchers, and mattresses, to provide adequate healthcare support to the people through hospitals and other temporary expansion sites. Such large-scale expansions called for an influx of medical furniture, which positively impacted the growth of the medical furniture market.

The major chronic diseases such as cancer, cardiovascular diseases, chronic lung disease, stroke, Alzheimer's, diabetes, and chronic kidney disease are on the rise all over the world, which is adding to the growth of the medical furniture market. According to the GLOBOCAN 2020 report, the total number of people in the world affected by cancer in 2020 accounts for around 19,292,789 cases. The number is estimated to rise to 28,887,940 cases by 2040. According to the International Diabetes Federation (IDF) Diabetes Atlas Tenth edition 2021, in 2021, around 537 million adults all over the world were found to have diabetes, with the numbers projected to grow to 643 million by 2030 and 783 million by 2045. The large population affected by chronic diseases and the increase in the necessity of medical furniture for the ease of diagnosis and treatment of such diseases is expected to propel the growth of the medical furniture market.

As per the data from the World Bank, data updated in April 2021, the number of people above the age of 65 is 723.18 million as of 2020. The rise in the geriatric population and the increase in the number of diseases associated with age-related factors, thereby increasing the number of patients visiting the hospitals, is expected to improve the growth of the market. Also, as per the World Health Organisation's Key facts on Road Traffic Injuries published in June 2021, around 1.2 million people all over the world die as a result of road traffic crashes. Around 20 and 50 million more people suffer non-fatal injuries, with many incurring a disability as a result of their injury. The rise in the number of road traffic accident cases all over the world is increasing the number of admissions to hospitals and healthcare settings, which is likely to boost the growth of the medical furniture market in the forecast period.