Increasing Investment in Healthcare Sector Activity Coupled with Make in India Initiative has Stimulated Growth in India Hospital Furniture Industry: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit Increasing Tie-ups and Use of Technology: The hospital furniture manufacturers are actively partnering with big hospital chains and home healthcare companies to gain an edge over competitors. Hospitals generally give weightage to vendors who are either existing partners or have history of providing products to major chains in India. Moreover, Indian manufacturers are rapidly investing in technology to provide patient friendly products as well as aiding the doctors in complex surgical procedures. They are continuously trying to match the global standards for manufacturing these products. Government Initiatives Boosting the Sector: Government of India announced the creation of 150,000 Health and Wellness Centres (HWCs) by transforming the existing Sub Centres and Primary Health Centres under the Ayushman Bharat Scheme. 100% FDI allowed under automatic route for Greenfield and Brownfield healthcare projects. Under the Union Budget 2019-20, the government has allocated ₹ 800 crore (USD 110.9 million) for the upgradation of state government medical colleges (PG seats) at the district hospitals and ₹ 1,361 cr (USD 188.6 mn) for government medical colleges (UG seats) and government health institutions. Over USD 200 billion (~ ₹ 15 lakh crores) is expected to be spent on medical infrastructure by 2024. Challenges in Hospital Furniture Industry: The hospital furniture industry in India is highly unorganized owing to the absence of a regulatory body. There are numerous small furniture manufacturers selling products across the country without any authorization from the government. The country is also largely dependent on imports for OT Tables, OT Lights and parts due to lack of investment in technology by domestic players. The inverted tax duty structure favors import than domestic manufacturing as import duty on component/material is higher than finished product. There is a lack of infrastructure facilities like micron epoxy coating facilities for hospital furniture products which affects local manufacturers to capture the market. Impact of COVID-19 on India Hospital Furniture Market: COVID-19 has adversely impacted the hospital furniture manufacturers in India. The furniture production facilities are either closed or their capacity has been temporarily redirected to items crucial to either treating or limiting the spread of COVID-19. More than 500,000 surgeries have been cancelled in India and only essential treatment is being availed in a hospital. Owing to this, the mid and small sized hospitals have put their expansion plans on hold, thus affecting the future hospital furniture demand. On a positive note, companies are now selling their products online, thereby saving on the distributor’s margin. Moreover, they are exploring new opportunities such as tying up with a home healthcare company to increase their revenue share. Analysts at Ken Research in their latest publication “India Hospital Furniture Market Outlook to 2025- By Type of Products (Hospital Beds, OT Tables, OT Lights, Strechers and Others), By Organised and Unorganised Market, By End Users (Hospitals, Clinics and Diagnostic Chains, Home Healthcare Companies)” observed that the hospital furniture industry has a great potential to grow supported by the government initiatives. The advanced technology and additional features implemented by manufacturers in hospital beds, increasing investment of capital funds toward the hospital infrastructure, improving healthcare amenities along with increasing spending in healthcare is expected to boost growth of hospital furniture market in the years to come. Increasing focus on research & development and marketing activities, new product launches, partnerships & collaborations are also expected to drive the industry in the future. The India Hospital Furniture Industry is expected to grow at a CAGR of 7.7% on the basis of revenue over the forecast period 2020-2025. Key Segments Covered:- By Type of Products Hospital Beds (Manual and Motorized) OT Tables (Local and Imported) OT Lights (Local and Imported) By Stretchers (Single Fold, Trolley Based and Hydraulic) Others By End Users Hospitals Clinics and Diagnostic Chains Home Healthcare Companies Companies Covered:- Arjo Huntleigh Hill-Rom Services Inc Paramount Bed Holdings Stryker Corporation Narang Medical Steelcraft Hospital Furniture Industries Pvt. Ltd. – Vissco Group Midmark India Pvt. Ltd. (Janak Healthcare) Getinge GPC Medical Qualisurge Surgicals (Bharat Surgical Co.) ARVS (Cognate India) PMT Healthcare Key Target Audience:- Hospital Furniture Manufacturing Companies Hospital Furniture Exporting Companies Hospital Furniture Importing Companies Original Equipment Manufacturers Consultancy Companies Industry Associations Regulatory Bodies Time Period Captured in the Report:- Historical Period – 2015-2020 Forecast Period – 2020-2025 For More Information on the research report, refer to below link:- India Hospital Furniture Market Related Reports:- India Home Healthcare Market Outlook to 2025 (Second Edition) – By Patient Profile (Elderly Care, Post Operative Care, Physiotherapy, Palliative Care, Stroke Rehabilitation and Others), By Organized (Subscription and Non Subscription Model) and Unorganized, By Patient Age Profile and By Major Cities India Diagnostic Laboratories Market Outlook to FY’2025- By Government and Private Labs, By Radiology and Pathology, By Organized and Unorganized Players, By Business Model (Standalone, Hospital Based and Diagnostic Chains), By Cities (Tier I, Tier II and Tier III cities) and By Payment Method (Out of Pocket Expenditure, Insurance based and Corporate Spending India Medical Device Market Outlook to 2023 – by IVD Market (Type of Device, Sales Channel, Domestic Manufacturing and Import), by Diagnostic Imaging Market (Type of Device, Domestic Manufacturing and Import) and by Patient Aid Market (Orthopedic Device, Hospital Furniture and Hearing Aid) Contact Us:- Ken Research Ankur Gupta, Head Marketing & Communications Ankur@kenresearch.com +91-9015378249 Post Views: 26 Tags: Arjo Huntleigh Hospital Furniture Market Revenue, ARVS (Cognate India) Hospital Furniture Market Shares, Coronavirus Impact India Hospital Furniture Industry, Coronavirus Impact India Hospital Furniture Market, Covid-19 Impact India Hospital Furniture Industry, Covid-19 Impact India Hospital Furniture Market, Evaluation Study India Hospital Furniture Market, Evaluation Summary Report India Hospital Furniture Market, Evaluative Survey India Hospital Furniture Market, Getinge Hospital Furniture Market Revenue, GPC Medical Hospital Furniture Market Shares, Hill-Rom Services Hospital Furniture Market Shares, Hospital Furniture Industry In India, Hospital Furniture Market In India, India Brownfield Hospital Projects, India Clinics Furniture Market, India Greenfield Hospital Projects, India Healthcare Companies Furniture Market, India Home Furniture Market, India Hospital Bed Innovations, India Hospital Beds Market, India Hospital Beds Market Sales, India Hospital Furniture Distributors, India Hospital Furniture Due Diligence Report, India Hospital Furniture Export Volume, India Hospital Furniture Exporting Companies, India Hospital Furniture Growth Strategy Market Report, India Hospital Furniture Import Volume, India Hospital Furniture Importing Companies, India Hospital Furniture Industry, India Hospital Furniture Industry Research Report, India Hospital Furniture Manufacturers, India Hospital Furniture Market, India Hospital Furniture Market Analysis, India Hospital Furniture Market Competition, India Hospital Furniture Market Competition Benchmarking, India Hospital Furniture Market Evaluation Report, India Hospital Furniture Market Forecast, India Hospital Furniture Market Future Outlook, India Hospital Furniture Market Growth, India Hospital Furniture Market Major Players, India Hospital Furniture Market Research Report, India Hospital Furniture Market Revenue, India Hospital Furniture Market Revenue Forecasting, India Hospital Furniture Market Sales Volume, India Hospital Furniture Market Shares, India Hospital Furniture Market Size, India Hospital Furniture Market Supply, India Hospital Furniture Market Trends, India Hospital Furniture Technology Market, India Hydraulic Stretchers Market, India Original Equipment Manufacturers, India OT Lights (Operating table) Market, India OT Tables (Operating table) Market, India Patient Aid Market, India Single Fold Stretchers Market, India Stretchers Market, India Total Number of Hospitals, India Trolley Based Stretchers Market, Indian Healthcare Sector, Indian Hospital Furniture Industry, Indian Hospital Furniture Market, Industry Research Report Of India Hospital Furniture, Market Research Report Of India Hospital Furniture, Midmark India Pvt. 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