Market Size of Global Mortuary Equipment Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 6.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Mortuary Equipment Market Analysis
The mortuary equipment market is expected to record a CAGR of 6.5% during the forecast period (2022-2027).
The COVID-19 pandemic represents an international health crisis that is challenging to all governments. Health practitioners in different fields must guide people and governments to achieve safe health practices. As per the World Health Organization data, as of March 1, 2022, there were 5,952,215 deaths reported globally due to COVID-19. Due to the outbreak, the mortality rate across countries increased multi-fold, thus boosting the demand for mortuary equipment and significantly impacting the market. The study titled "All-cause mortality during the COVID-19 pandemic in Chennai, India: an observational study", published in December 2021, found that between March 1, 2020, and June 30, 2021, 87 870 deaths were registered in Chennai, India, exceeding the expected deaths by 25,990 or 518 excess deaths per 1,000 people. Thus, the death rate in India and worldwide increased substantially, impacting the market's growth.
The major factors attributing to the growth of the mortuary equipment market are decreased life span and increased number of morgues and hospitals. For instance, according to the article titled "Life expectancy decreased in most high-income countries", published in November 2021, a total of about 28 million more years of life were lost than expected, and it is further expected to decrease during the forecast period, thus driving the market.
Furthermore, the growing burden of the geriatric population may lead to increased mortality rates, subsequently boosting the market. As per the World Ageing Report 2020 Highlights, 727 million people were aged 65 years and above in 2020, which is expected to increase to 1.5 billion by 2050, thus driving the market studied.
Additionally, rising technological improvements in terms of automation and the development of convenient equipment are the major trends observed in the mortuary equipment market. Thus, the rising demand to upgrade and replace the traditional platforms with advanced equipment is expected to drive the market.
