Mortuary Equipment Market Snapshot
|Study Period:||2018 - 2026|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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The mortuary equipment market is expected to grow at a CAGR of 6.5% during the forecast period of the study (2021-2026).
The major factors attributing to the growth of the mortuary equipment market are decreased life span and increased number of morgues along with hospitals. For instance, according to National Vital Statistics Reports in June 2019, the global life expectancy is 78.6 years in 2017. The report says that life expectancy was decreased by 0.1 years with that of in 2016 and is expected to decrease during the forecast period which drives the market.
Additionally, rising technological improvement in terms of automation and development of convenient equipment are the major trends observed in the mortuary equipment market. Thus, the rise in demand to upgrade and replace the traditional platforms with advanced equipment is expected to drive the market.
Scope of the Report
As per the scope of the report, mortuaries are places where corpses are well-preserved under hygienic conditions for autopsies or educational, research, legal and other purposes. Different types of equipment are used in mortuaries for preservation and for shifting, storing the cadavers for various purposes.
Key Market Trends
Refrigeration Unit Segment By Product Type is Expected to Hold the Largest Market Share
The refrigeration unit segment is expected to account for the largest market revenue over the forecast period. It is due to the highest demand along with the high purchase and installation costs of the equipment which generates huge revenue. Furthermore, the availability of customized storage units in various sizes which assist the transfer of cadavers and the rapid establishment of new private morgues that also provide funeral services mainly drive the growth of refrigeration units market.
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North America Dominates the Market and Expected to do Same in the Forecast Period.
North America is anticipated to account for the largest share of the global mortuary equipment market. The dominance is due to a higher death rate in the region and an increase in the number of hospitals and private morgues which also fuels the market.
Europe contributed to the second largest market share owing to the faster adoption of advanced technologies thus projecting to propel the global market. As major populations in these regions follow Christianity, where the demand for funeral services is high, the revenue share will project the global market. The Asia-Pacific region is expected to witness the fastest growth rate in the global mortuary equipment market. The rapid growth is expected due to the growing number of hospitals and steep advancement in the health care infrastructure coupled with the proliferation of private mortuaries in the region. Local market players and new entrants in developing countries like India and China also contribute a major share in the market revenue.
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The mortuary equipment market is moderately competitive and consists of several major players. Some of the key players are introducing advanced types of equipment with automation enabling Forensic investigations and Academic researches more convenient, while others are distributing the products and increasing their market position globally. Additionally, some of the companies are entering into partnerships with hospitals which fuels the market revenue.
In December 2020, Federal Emergency Management Agency (FEMA) awarded USD 3,055,957 to the Rhode Island Department of Health for the COVID-19 pandemic. The funds were also for the mortuary-related supplies for the state’s five refrigerated trucks.
In December 2020, California ordered 5,000 new body bags due to the surge in the COVID-19 cases and fatalities due to it. the bags were distributed to San Diego, Los Angeles, and Inyo counties.
Table of Contents
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increased Global Geriatric Population and Decrease in Life Expectancy
4.2.2 Rise in Number of Morgues and Growing Demand for Automation in Post-mortem Procedures
4.3 Market Restraints
4.3.1 High Cost of Purchase and Maintenance of Equipments
4.3.2 Cultural and Ethical Concerns Related to Post-mortem and Storage of Dead Bodies
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Product Type
5.1.1 Refrigeration Units
5.1.2 Autopsy Platforms
5.1.3 Cadaver Lifts
5.2.1 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
5.2.4 Middle-East and Africa
18.104.22.168 South Africa
22.214.171.124 Rest of Middle-East and Africa
5.2.5 South America
126.96.36.199 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Roftek Ltd.
6.1.2 SM Scientific Instruments Pvt. Ltd
6.1.3 KUGEL medical GmbH & Co. KG
6.1.4 Leec Ltd
6.1.5 Thermo Fisher Scientific Inc
6.1.6 Mortech Manufacturing Company Inc
6.1.7 HYGECO LEAR LIMITED
6.1.9 Mortuary Lift Company
6.1.10 Ferno-Washington Inc
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Mortuary Equipment Market market is studied from 2018 - 2026.
What is the growth rate of Mortuary Equipment Market?
The Mortuary Equipment Market is growing at a CAGR of 6.5% over the next 5 years.
Which region has highest growth rate in Mortuary Equipment Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Mortuary Equipment Market?
North America holds highest share in 2020.
Who are the key players in Mortuary Equipment Market?
Thermo Fisher Scientific, Roftek Ltd, SM Scientific Instruments Pvt. Ltd, KUGEL medical GmbH & Co. KG, LEEC Ltd. are the major companies operating in Mortuary Equipment Market.