Healthcare Furniture Market Set to Reach USD 18.6 Billion by 2033

Introduction

The global healthcare furniture market is on track for substantial growth, with its value expected to nearly double from USD 9.8 billion in 2023 to USD 18.6 billion by 2033, achieving a compound annual growth rate (CAGR) of 6.6%. This growth is fueled by an increasing global population and an aging demographic, which are driving up the demand for healthcare services and, consequently, healthcare furniture. Additionally, advancements in healthcare furniture technology are improving patient care and comfort, further boosting the market.

Challenges such as high inflation rates and labor shortages, however, pose substantial hurdles for the industry. These economic pressures are complicating financial operations within healthcare settings, impacting the affordability and availability of healthcare furniture​.

Recent developments highlight a shift towards more sustainable and patient-centric furniture solutions. For instance, there is a notable increase in the adoption of eco-friendly materials and designs that cater to the specific needs of healthcare facilities. Innovations include beds designed for specific medical conditions and furniture that supports the safety and mobility of patients. These advancements are critical as they not only address immediate healthcare needs but also set a foundation for future growth and development in the sector​.

In January 2023, Hill-Rom Holdings, Inc. launched their advanced Navigo bariatric bed system, meticulously crafted to enhance comfort and safety for bariatric patients. This system is distinguished by its wider bed surfaces and greater weight capacities, specifically designed to accommodate heavier patients. Additionally, it includes enhanced bed exit assistance features, focusing on safety and ease of use. Following this, February 2023 marked the introduction of Stryker Corporation’s ProCare XLT patient care bed. This product emphasizes maximizing patient care and safety, featuring a low-height design to prevent falls, integrated patient monitoring systems, and an ergonomic sleep surface that together promote a safer and more comfortable patient experience.

April 2023 witnessed the unveiling of the Flow-Care 5 mobile workstation by Getinge AB. This mobile unit is engineered to improve the efficiency of healthcare workers and enhance patient care. It features a height-adjustable work surface, integrated storage for medical equipment, and a reliable mobile power source, all designed to streamline the workflow in healthcare settings. In May 2023, Herman Miller, Inc. introduced the Embody chair, designed to support healthcare professionals who spend prolonged periods sitting. The chair incorporates ergonomic design principles, including an airy backrest and adjustable support zones, to provide essential support and comfort for healthcare workers.

Overall, while the market faces economic and operational challenges, the ongoing innovations and increasing demand from healthcare facilities worldwide present robust opportunities for growth in the healthcare furniture market.

Key Takeaways

1. Market Size and Growth Projection:
   • The healthcare furniture market is anticipated to expand from USD 9.8 billion in 2023 to approximately USD 18.6 billion by 2033. This represents a steady compound annual growth rate (CAGR) of 6.6%.
2. Product Analysis: Dominance of Bed Segment:
   • In 2023, the bed segment secured the largest portion of the market, constituting 24.03% of total sales.
3. Application Analysis: Predominance of Patient Furniture:
   • Patient furniture emerged as the leading category, capturing over 46.7% of the market share in 2023.
4. Distribution Channel Analysis: The Lead of Offline Sales:
   • Offline sales channels maintained their leading position, contributing over 65.5% to the total revenue in 2023.
5. Material Type Analysis: The Rise of Metal Furniture:
   • Metal furniture was particularly prominent in 2023, accounting for 40.5% of the global revenue in the healthcare furniture market.
6. End-Use Analysis: Growth in Ambulatory Surgery Centers:
   • Ambulatory Surgery Centers (ASCs) are expected to witness the highest growth rate, with a projected CAGR of 7.8% from 2024 to 2033.
7. Regional Analysis: North America’s Market Leadership:
   • North America stood out as the region with the largest market share, holding 38.02% and generating USD 3.7 billion in revenue in 2023.

Healthcare Furniture Statistics

• Stryker surpassed $20 billion in annual sales for the first time in its history by December 2023​.
• In September 2023, Stryker launched the 1788 camera platform, enhancing surgical visualization with a broader color spectrum and improved fluorescence imaging​.
• Stryker reported a 11.8% increase in net sales for 2023, totaling $20.498 billion, with a significant 54.4% increase in operating income reflecting strong market performance​.
• Invacare reported increased sales in Europe due to higher demand in mobility and seating products, which rose by 15.8%. However, North American sales declined by 6.9%, influenced by supply chain issues and ERP implementation challenges​.
• For fiscal 2024, Steris Plc anticipates revenue growth of 9-10% and adjusted earnings per diluted share between $8.60 and $8.80. The company expects free cash flow to be approximately $685 million.
• In the second quarter of fiscal 2024, the Healthcare segment saw a significant increase Steris Plc, with revenues rising 19% to $870.1 million. This growth was primarily driven by recovery in medical procedures such as orthopedics and gastrointestinal surgeries​.
• Steris agreed to sell its Dental business to Peak Rock Capital for approximately $787.5 million in equity. This transaction was part of a strategic adjustment to focus on core areas.
• Medline has committed an additional $300 million in 2023 to enhance its supply chain and manufacturing capabilities. This includes opening new distribution centers across the U.S., significantly expanding their operational footprint.
• In March 2020, Hill-Rom announced a significant increase in the production of critical care products like ventilators and hospital beds to support the COVID-19 response. Additionally, they pledged over $5.5 million in donations to enhance care during the pandemic​.
• GF Health Products introduced the new Basic American 7200 Bed, featuring advanced manufacturing techniques like laser welding and robotic assembly. This product is designed to offer high quality at a lower cost, aligning with customer demands for more features and reduced cost-in-use.
• Sunrise Medical (US) LLC Launched New Product, QUICKIE QS5 X. Introduced in June 2023, this wheelchair saves over 40% in energy with each fold, demonstrating an improvement in energy efficiency​.
• The Herman Miller Furniture company continues its commitment to sustainability by using materials that are up to 58% recycled and ensuring that new products are 99.9% PVC-free. Their designs focus on reducing environmental impact through durable and reconfigurable systems.

Emerging Trends

• Behavioral Health Focus: Design strategies are increasingly centering on behavioral health to destigmatize mental health services and improve patient and community well-being. This includes creating environments that offer a sense of security, privacy, and comfort to support mental health treatments​.
• Sustainable and Smart Furniture: There is a significant shift towards sustainable furniture, with manufacturers using eco-friendly materials like recycled plastics and bio-based composites. Additionally, smart furniture that incorporates technology for health monitoring and enhances patient and caregiver experiences is becoming more prevalent​.
• Flexibility and Multi-functionality: The design of healthcare furniture is adapting to be more flexible and multifunctional, allowing spaces to be easily reconfigured for various uses depending on current needs, which is crucial for maximizing space and resources in healthcare facilities​.
• Inclusivity and Access: Furniture and space design are evolving to better accommodate a diverse range of patients and healthcare activities, emphasizing easy accessibility and the creation of welcoming spaces for all demographic groups​.
• Telehealth Integration: With the permanence of telehealth post-pandemic, furniture design is also incorporating features that support virtual healthcare interactions. This includes integrating technologies that facilitate digital communication and data privacy for remote patient consultations​.
• Advanced Manufacturing Techniques: Digitalization and automation are revolutionizing the furniture manufacturing process, including the use of generative design and robotic manufacturing. These advancements not only enhance design and customization possibilities but also improve production efficiency and sustainability​.

Use Cases

• Use Case 1: Patient Room Furnishings
  • Healthcare facilities like hospitals and nursing homes need furniture for patient rooms that is comfortable, easy to clean, and meets safety standards. This includes beds, bedside tables, chairs, dressers, etc. These items get a lot of use and need to be durable. They also need to accommodate things like IV poles and oxygen tanks.
• Use Case 2: Waiting Room Seating
  • Waiting areas in places like doctors’ offices, clinics, and emergency rooms require comfortable chairs and sofas where people can sit while waiting to be seen. This furniture needs to be easy to clean since lots of people will be using it. It also needs to fit well into the limited space of a waiting room.
• Use Case 3: Exam Room Furnishings
  • Rooms where patients get examined and treated require special furniture like exam tables that can be adjusted for different positions. They also need chairs, stools, and small tables or desks for the doctor or nurse to sit and take notes. This furniture has to be highly functional and easy to keep sanitary.
• Use Case 4: Office Furniture
  • Administrative areas in healthcare facilities like nurse’s stations, offices for doctors and staff, reception areas, etc. require typical office furnishings like desks, chairs, filing cabinets, and sofas or chairs for visitors. This furniture needs to be ergonomic for people sitting for long periods.
• Use Case 5: Furniture for Public Spaces
  • Lobbies, cafeterias, lounges, and other common areas in healthcare facilities require furniture like chairs, sofas, tables, and benches where visitors and patients can sit comfortably. This furniture gets very high usage so it needs to be exceptionally durable and easy to clean.

Key Players Analysis

• Stryker has established itself as a significant competitor in the healthcare furniture sector, noted for its offerings that enhance hospital environments. The company’s robust performance is evidenced by consistent sales and market presence, particularly in categories such as beds and specialized hospital furniture. Stryker’s success can be attributed to its commitment to quality and innovation, which align with growing demands for functional and durable healthcare furniture. This sector is expanding globally, driven by factors such as technological advancements and the increasing emphasis on patient comfort and safety​.
• Invacare Corporation, a prominent player in the healthcare furniture sector, specializes in a variety of medical equipment, particularly for non-acute care settings like home healthcare and long-term care facilities. The company’s portfolio includes mobility products such as power and custom manual wheelchairs, seating and positioning products, as well as lifestyle products like beds and pressure-relieving mattresses. Invacare serves a global market through an extensive distribution network, including a dedicated sales force and independent representatives and distributors. With headquarters in Elyria, Ohio, USA, Invacare is strategically positioned to meet the growing demands of the healthcare furniture market, which is projected to expand significantly due to factors like an aging population and advancements in medical facilities​.
• Arjo AB is a prominent entity in the healthcare furniture sector, focusing on providing a range of medical devices and solutions that enhance patient mobility and healthcare quality. The company’s portfolio includes hospital and healthcare beds designed for infection control, patient safety, and risk management. With a strong emphasis on innovation and sustainability, Arjo aims to improve both clinical and financial outcomes in healthcare. Based in Malmo, Sweden, Arjo is well-positioned in the market, integrating cutting-edge technology and ergonomic design to meet the dynamic needs of healthcare environments.
• STERIS Plc notably expanded its healthcare product offerings in 2023 by acquiring assets related to surgical and sterilization equipment. This strategic move aims to enhance its presence in critical hospital areas such as operating rooms and sterile processing departments. The acquisition is set to complement STERIS’s existing portfolio and is anticipated to contribute positively to its financial performance in fiscal year 2024. Overall, STERIS has demonstrated a strong financial trajectory, with significant revenue growth reported in its healthcare segment, driven by robust demand across its product lines.
• Medline Industries, Inc., significantly supports healthcare environments through its extensive range of medical furnishings. These include hospital beds, stretchers, and cabinets, tailored to enhance patient care and medical staff efficiency. The company, leveraging its extensive distribution network, delivers solutions that meet rigorous healthcare demands, affirming its commitment to improving healthcare settings globally.
• Hill-Rom Holdings, Inc., now part of Baxter International, plays a significant role in the healthcare furniture sector, providing a variety of hospital furniture designed to enhance patient and visitor comfort. Their offerings include overbed tables, cabinets, and recliners, aiming to improve the hospital experience. Their innovative designs, like the smart beds which integrate technology for enhanced patient monitoring, reflect their focus on improving healthcare through advanced furniture solutions that combine functionality with patient care.
• Drive DeVilbiss Healthcare, a leading manufacturer and distributor of durable medical equipment, offers a diverse range of products in the healthcare furniture sector. Their offerings include beds and transfer trolleys, patient recliners, and over-bed tables, targeting hospitals, long-term care facilities, and home care settings. They emphasize functionality and comfort, providing products like the Rose Comfort Max tilt and recline chair which is designed for ease of use by caregivers and comfort for patients. This focus on innovative and practical solutions in healthcare furniture helps enhance patient care and support healthcare providers.
• GF Health Products, Inc., also known as Graham-Field, is a prominent player in the healthcare sector, specializing in the manufacture and distribution of a comprehensive range of medical devices and healthcare furniture. The company’s product offerings include healthcare seating, beds, and other specialized furnishings aimed at enhancing patient care in various settings such as hospitals, extended care facilities, and home care environments. Headquartered in Atlanta, Georgia, GF Health Products leverages multiple manufacturing and distribution facilities across the United States to ensure timely delivery of its products. The company is noted for its commitment to producing a significant portion of its offerings domestically, aligning with its Made in USA strategy​.
• NAUSICAA Medical, a renowned player in the healthcare furniture sector, specializes in the design and manufacture of patient lifts and stand-up lift systems. Founded in 1993, the company caters to needs across geriatrics, rehabilitation, and palliative care, providing products recognized for their high quality and unique manufacturing expertise. NAUSICAA Medical’s commitment to healthcare support and equipment innovation positions it strongly in the market, contributing to the overall growth of the healthcare furniture industry, which is expected to expand significantly in the coming years.
• Sunrise Medical (US) LLC is recognized as a global leader in the healthcare furniture sector, primarily focusing on the development, design, manufacture, and distribution of a comprehensive range of mobility products. These include manual and powered wheelchairs, mobility scooters, and a variety of seating and positioning systems tailored to both standard and specialized needs. The company’s commitment to enhancing mobility and overall quality of life for individuals across various age groups marks its distinct presence in the market. With a strategic emphasis on innovation and quality, Sunrise Medical continues to expand its influence and operations globally, adapting to and meeting diverse consumer needs effectively.
• In the healthcare furniture sector, Kovonox has made notable strides, particularly emphasizing eco-friendly and ergonomic designs that enhance patient care and environmental sustainability. Their products are designed to improve patient comfort and are constructed from sustainable materials like bamboo and reclaimed wood, which also helps in reducing the environmental impact of healthcare operations. The growth in the market is further supported by a rising demand for aesthetically pleasing and functional furniture in healthcare settings, catering to the needs of a growing geriatric population and advancements in healthcare facilities.
• Getinge AB has been actively enhancing its offerings in healthcare furniture, particularly with the launch of the Maquet Corin, an advanced operating room table. This product highlights Getinge’s focus on intuitive design and safety, incorporating features like smart sensors to improve the efficiency and safety of surgical environments. Despite facing challenges such as increased costs and quality control affecting profit margins, Getinge has maintained a strong sales growth trajectory, fueled by strategic acquisitions and robust product demand.

Conclusion

In conclusion, the healthcare furniture market is poised for continuous growth, driven by a rise in healthcare demands globally. Despite facing economic challenges like inflation and labor shortages, the market is evolving through technological innovations and a focus on sustainability. Key industry developments include the integration of patient-centered designs and eco-friendly materials that cater to modern healthcare requirements. As companies adapt to changing market dynamics and consumer preferences, the industry is likely to witness sustained expansion, offering significant opportunities for stakeholders across the healthcare sector.