India Medical Furniture Market Overview
India medical furniture market experienced significant growth in the previous years owing to a 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 the 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.
According to 6Wresearch, 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 the 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 the rising number of chronic diseases along with the increasing number of hospitals and clinics.
Market by Regions
Southern region captured the majority of revenues in the medical furniture market in India 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.
Key Highlights of the Report
- India Medical Furniture Market Overview
- India Medical Furniture Market Outlook
- India Medical Furniture Market Forecast
- Impact Analysis of COVID-19
- India Medical Furniture Market Trends
- Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
- Historical Data and Forecast of India Medical Furniture Market Revenues for the Period 2018-2028F
- Historical Data and Forecast of India Medical Furniture Market Revenues, By Product Type, for the Period 2018-2028F
- Historical Data and Forecast of India Medical Furniture Market Revenues, By Hospital Beds, for the Period 2018-2028F
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