APAC set to be most lucrative market for hospital furniture

The growing presence of the private healthcare sector is promoting growth.

The Asia Pacific is expected to be the most lucrative region for hospital furniture due to the growing demand for advanced hospital furniture, as well as the growing presence of the private healthcare sector, Valuates Reports revealed.

Globally, the hospital furniture market size is projected to reach $8.54b by 2026, from $6.36b in 2019, at a compound annual growth rate of 4.3% during 2021-2026, amidst a growing prevalence of different chronic diseases and rising expectations of the patients toward the hospital infrastructure.

Also contributing to the growth is the continuous development in technology and the introduction of innovative furniture, such as eye surgery chairs and advanced hospital stretchers. The growing number of hospitals and clinics across the globe is also contributing to the growth.

“As geriatric diseases frequently coexist with obesity and impairment, people with disabilities will increasingly require mobility equipment to carry out their daily duties. As a result, the demand for rehab as well as bariatric wheelchairs, and other hospital furniture is predicted to rise as obesity and lifestyle-related disabilities among the elderly increase,” the report stated.