According to the latest report published by Credence Research, Inc. “Mortuary Equipment Market – Growth, Future Prospects and Competitive Analysis, 2017-2025,” the global mortuary equipment market was valued at US$ 587.9 Mn in 2016, and is expected to reach US$ 1,066.1 Mn by 2025, expanding at a CAGR of 6.8% from 2017 to 2025.
Browse the full report Mortuary Equipment Market – Growth, Future Prospects and Competitive Analysis, 2017–2025 report at http://www.credenceresearch.com/report/mortuary-equipment-market
Growing investment in healthcare infrastructure through introduction of medical education institutions, private hospitals and morgues has resulted in increased purchase of mortuary equipment worldwide. Growing need for better preservation of corpse for research and academic purposes and forensic tests is fueling the demand for advanced mortuary equipment. Conversely, high purchase and installation costs of novel automated equipment may hold back the growth of mortuary equipment market.
For the purpose of this study, the global mortuary equipment market is studied for products such as refrigeration units, trolleys, stretchers and lifts, autopsy tables and workstations, cabinets and others (bags, covers, etc.). Among these, refrigeration units such as refrigerators and freezer cabinets have the strongest demand worldwide and lead the global market in terms of revenue at a share of around 35% in 2016. Higher prices and periodic need for upgrading refrigeration units for enhanced efficiency and capacity mainly contribute to their high demand. Furthermore, the demand for autopsy tables and workstations, and trolleys, stretchers and lifts is expected to be the highest during the forecast period. Technological innovation such as introduction of hydraulic lifts, energy efficient workstations and related products mainly drive the growth of these segments. Technical evolution of such equipment has ensured effective transportation and efficient handling of corpses and ease in autopsy and embalming procedures.
Geographically, Europe and North America dominate the global mortuary equipment market. Rapid adoption new handling and storage solutions and upgrading of obsolete equipment, along with increase in number of private hospitals and mortuaries across both developed and emerging economies significantly influence the rising demand for mortuary equipment. Asia Pacific, with rapid evolution of healthcare infrastructure is expected to be the fastest growing regional market for mortuary equipment. The demand for refrigeration units and mortuary accessories is expected to be the highest in war-inflicted regions.
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Kugel Medical gmbH, Mopec, Leec Ltd. are the largest players in the global mortuary equipment market. In terms of competition, this market is highly concentrated with less than 5 companies holding over half the revenue share. Other prominent players operating on the global mortuary equipment market are C.F. di Ciro Fiocchetti & C. s.n.c., Ferno-Washington, Inc., Flexmort (Roftek Ltd.), Hygeco Lear, Mortech Manufacturing Company Inc., SM Scientific Instruments Pvt. Ltd. and Thermo Fisher Scientific.
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