The global medical headwalls market to grow at a CAGR of 5.4% to reach $1,318.68 Million in 2027 from $826.80 Million in 2018 led by growing hospital industry.
PUNE, MAHARASHTRA, INDIA, December 12, 2019 /EINPresswire.com/ — This market research study focuses on the current Medical Headwalls Market Size, Revenue, Share, status, future forecast, growth opportunities, key market players. The study objectives are to present the Medical Headwalls development in North Americas, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SA).
The leading companies operating in the medical headwalls market include Class 1 Inc., Amico Group of Companies, Hospital Systems, Inc., Futrus, LLC, Schönn Medizintechnik GmbH, Drägerwerk AG & Co. KGaA, Wittrock Healthcare, Nexxspan Healthcare, LLC, Modular Services Company and Interspec Systems among others. The market has observed inorganic developments during recent years in the medical headwalls market. For instance, in March 2019, Atlas Copco has acquired Class 1 Incorporated, a medical headwall company. This acquisition will result into further strengthening the position of both the companies in the market.
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Driving factor such as, increasing prevalence of chronic diseases, and growing hospital industry are boosting the market over the years. Besides, growing public private partnership in healthcare industry is likely to have a positive effect on the growth of the market in the forecast years. However, increasing preference for home healthcare is likely to hamper the growth of the market in the coming years.
The Indian hospital industry is also growing owing to factors such as rising investments from government and private players, rising geriatric population, rising number of hospitals. According to the Department of Industrial Policy and Promotion (DIPP), the hospital and diagnostic centers in India have attracted Foreign Direct Investment (FDI) worth US$ 6 billion in the last couple of decades. Furthermore, the rising investments by government and private players are also driving the hospital market. For instance, de-merger between Fortis Healthcare and Manipal Hospitals Enterprises has been carried out to raise US$ 602.41 million, which can be further invested to grow hospital infrastructure in Manipal Hospital Enterprise.
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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 global medical headwalls market based on application, was segmented intensive care unit (ICU)/critical care unit (CCU), post-anesthesia care unit (PACU), patient rooms, other applications. In 2018, the intensive care unit segment held the largest market share of the medical headwalls market by application. This segment is also projected to dominate the market in 2027 as rising prevalence of chronic diseases, growing geriatric population, and increasing number of ICUs admissions. This market segment is also expected to grow at a significant rate in the forecast period 2019 to 2027.
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Source: EIN Presswire