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DUBLIN–(BUSINESS WIRE)–The “India Medical Furniture Market Outlook: Market Forecast By Product Type, By Hospital Beds, By Applications, By Regions And Competitive Landscape” report has been added to ResearchAndMarkets.com’s offering.
India Medical Furniture Market size is projected to grow at a CAGR of 8.9% during 2022-2028.
India medical furniture market is in the growing stage of industry life cycle as the healthcare market is rapidly witnessing growth in the country such that the healthcare industry size is estimated to reach Rs 27.7 lakh crore by 2022.
Also, rapid urbanization, increasing geriatric population, disposable income and increasing per capita income that is expected to reach $2.48 thousand in 2024, is also contributing significantly to the market growth. India medical furniture market is expected to drive positively during the forecast period due to rising number of chronic diseases along with increasing number of hospitals and clinics.
India medical furniture market 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.
India medical furniture market experienced a significant growth in the previous years owing to rise in chronic diseases, rising middle class expenditure and burgeoning medical tourism in India.
The market continued to witness growth during 2020 as the number of patients requiring advanced medical furniture and intensive care increased considerably in several states such that national capital led to a 35% increase in the demand for beds in hospitals. The COVID-19 pandemic has not only presented challenges but also several opportunities for businesses in India to grow.
The crisis has opened the gates for Indian start-ups, many of whom have risen to the occasion and accelerated the development of low-cost, scalable, and quick medical solutions. Further, the pandemic has provided an impetus to the expansion of telemedicine and the home healthcare market in the country.
Market by Regions
Southern region captured majority of revenues in India medical furniture market as Kerala has emerged as the top-ranking state in terms of overall health performance among states.
Chennai tops the list for medical tourism in India and has been termed India’s health capital. Multi and super-specialty hospitals across the city bring in an estimated 150 international patients every day. On the other hand, states such as Bihar, Odisha, Chhattisgarh and Jharkhand lag behind and rank lowest in hospital beds and infrastructure.
Market by Product Type
Hospital beds acquired largest revenue share in the market owing to their high price and government objective to increase number of beds by at least 30% in the coming years to ensure equitable access to healthcare facilities. India’s hospital bed density is less than half the global average of 3 hospital beds per 1,000 population, implying that an estimated 2.2 million beds will be required over the next 15 years in the country.
Key Highlights of the Report
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments:
By Product Type
By Hospital Beds
For more information about this report visit https://www.researchandmarkets.com/r/3mu9x1
Laura Wood, Senior Press Manager
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