May 15, 2020 4:00 PM ET
iCrowd Newswire – May 15, 2020
The global medical headwalls market is anticipated to reach US$ 1,318.68 Mn in 2027 from US$ 826.80 Mn in 2018. The market is anticipated to grow with a CAGR of 5.4% from 2019-2027.
The global medical headwalls market, based on the product type, is segmented into horizontal and vertical. In 2018, the horizontal sales segment held the largest market share of the medical headwalls market, by product types. This segment is also projected to dominate the market in 2027 owing to its advantages such as flexibility, slim design, and easy to clean. Furthermore, these can be widely used in ICU/CCU, NICU, emergency department/trauma, LDR, PACU, transitional step-down, patient rooms, radiology, and special procedure departments.
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The leading companies operating in the medical headwalls market include Class 1 Inc., Amico Group of Companies, Hospital Systems, Inc., Futrus, LLC, Schönn Medizintechnik GmbH, Drägerwerk AG & Co. KGaA, Wittrock Healthcare, Nexxspan Healthcare, LLC, Modular Services Company and Interspec Systems among others. The market has observed inorganic developments during recent years in the medical headwalls market. For instance, in March 2019, Atlas Copco has acquired Class 1 Incorporated, a medical headwall company. This acquisition will result into further strengthening the position of both the companies in the market.
The report provides trends prevailing in the global medical headwalls market and the factors driving the market along with those that act as hindrances. The market for medical headwalls is expected to grow, owing to factors such as the increasing prevalence of chronic diseases, and the growing hospital industry. Moreover, an increasing number of super specialty and multi-specialty hospitals are likely to have a positive impact on the growth of the market in the coming years.
The hospital industry in North America is growing. Though the average hospital stay for a single person has been slightly decreased from 7 days to 5-6 days over the last couple of decades in the US. Whereas the total number of hospital admissions increased to 36.5 million in 2017. An increase in the geriatric population is a major reason for driving the hospital market in North America. For instance, according to the CDC, the total number of hospitals in 2014 was 5,627, and in 2019 the number has increased to 6,210.
The Indian hospital industry is also growing owing to factors such as rising investments from government and private players, rising geriatric population, rising number of hospitals. According to the Department of Industrial Policy and Promotion (DIPP), the hospital and diagnostic centers in India have attracted Foreign Direct Investment (FDI) worth US$ 6 billion in the last couple of decades. Also, the Indian healthcare sector has witnessed 23 deals worth US$ 679 million until June 2018. Government initiatives have also helped drive the hospital industry in India. For instance, according to the Ministry of Health and Family Welfare, Government of India, a Memorandum of Understanding (MoU) has been signed between India and Cuba to increase cooperation in the areas of health and medicine.
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Growth strategies through several organic and inorganic such as approvals, product launch, agreements, and partnerships have been witnessed in the market of Medical headwalls. For instance, in March 2019, Atlas Copco has acquired Class 1 Incorporated, a medical headwall company. This acquisition will result in further strengthening the position of both the companies in the market.
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Keywords: Medical Headwalls Market, Medical Headwalls