In a recent published report, Kenneth Research has updated the market report for Mortuary Equipment Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Mortuary Equipment Market products.
Recently, a significant growth in healthcare spending have been observed in the low- and middle-income nations. In the middle-income nations, healthcare spending rose by 6.3% a year between 2000 and 2017, while the economy rose by 5.9% a year. Additionally, health spending in low-income countries also observed a growth by 7.8% a year in the same period. The growth in the healthcare spending of these nations can be attributed to the increasing focus of the governments in these nations to meet the laid down targets of the Sustainable Development Goals (SDGs) of 2030. Such factors are anticipated to drive the growth of the Mortuary Equipment Marketduring the forecast period.
Overview
The Global Mortuary Equipment Market is expected to register a CAGR of 6.48% to reach USD 1,282.81 Million by 2024. Mortuaries are places where dead bodies are preserved and stored for performing autopsies or for educational and research purposes. Various equipment is used in mortuaries for preservation and for storing the cadavers for research and education.
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The high mortality rates, technological advancements, automation in mortuary procedures, and rising number of unclaimed bodies in morgues are likely to contribute to the growth of the market during the assessment period. According to the data published by the Center for Disease Control and Prevention, the death rate of US in 2017 was 849.3 deaths per 100,000 people. However, the development of the anatomage table and high cost of mortuary equipment are likely to restrain the market growth during the forecast period.
Market Dynamics
High demand for technology and automation in mortuary procedures is expected to drive the growth of the global mortuary equipment market. Automated mortuary equipment can make mortuary operations convenient by organizing the whole process well. For instance, in November 2017, Mopec, Inc. introduced a new cadaver lift series that has a versatile design and performance. Therefore, technological advancements and automation in mortuary procedures are expected to drive market growth.
Segmentation
The global mortuary equipment market, by product type, has been segmented into refrigeration units, autopsy platforms, embalming workstations, cadaver lifts & trolleys, dissection tables, and others. The refrigeration units segment accounted for a value of USD 231.40 million in 2018. On the basis of end user, the global mortuary equipment market is segmented into hospitals, academic institutes & research organizations, forensic laboratories, and others.
Regional Analysis
The global mortuary equipment market, based on region, is divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.The Americas is expected to hold the largest share of the global mortuary equipment market. This is owing to the availability of a large number of private mortuaries, upgrading obsolete equipment, and rising demand for mortuary equipment in the region. Europe showed a considerable amount of growth in the market due to the growing need for better preservation of corpses for research and academic purposes and the increasing investment in private morgues has resulted in the rising purchase of mortuary equipment.
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Asia-Pacific is estimated to be the fastest growing region in the global market due to the high number of hospitals in private sectors including medical colleges, technological advancements, and rising investment by local players that export their products to developed countries at affordable prices. Australia held a share of 11.8% in the Asia-Pacific mortuary equipment market in 2018. Also, the market in the Middle East & Africa is expected to steadily grow owing to the increasing use of mortuary equipment in countries such as Egypt, Saudi Arabia, and others, due to a large number of deaths caused by cancer observed in these regions, as mortuary equipment are required in several processes.
Key Players
The prominent players in the global mortuary equipment market are LEEC Limited (UK), KUGEL Medical GmbH & Co. KG (Germany), SM Scientific Instruments Pvt. Ltd (India), Thermo Fisher Scientific (US), HYGECO (France), Mortech Manufacturing Company Inc. (US), Mopec Inc. (US), Ferno-Washington Inc. (US), Barber of Sheffield (UK), EIHF Isofroid (France), Funeralia GmbH (Germany), Flexmort (UK) and others.
Some of the key strategies followed by players operating in the global mortuary equipment market were innovation, product development, acquisition & mergers.In February 2017, Ferno-Washington Inc and REV Group announced the launch of innovative patient- and crew-centric ambulance.In November 2017, Mopec Inc. introduced a cadaver lift series that features versatility in design and performance.In January 2018, HYGECO started providing mortuary equipment to the Blida and Tamanrasset military hospitals in Algeria, North Africa.
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Market Segmentation
Global Mortuary Equipment Market, by Product Type
Refrigeration Units
Autopsy Platforms
Dissection Tables
Cadaver Lifts and Trolleys
Embalming Workstations
Others
Global Mortuary Equipment Market, by End User
Hospitals
Academic Institutions and Research Organizations
Forensic Laboratories
Others
Global Mortuary Equipment Market, by Region
Americas
North America
US
Canada
Latin America
Europe
Western Europe
Germany
UK
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East & Africa
Middle East
Africa
Available Additional Customizations
Company Profiles of Other Key Players
ETS Bio Freeze Sdn. Bhd.
F. di Ciro Fiocchetti & C. S.N.C.
Thalheimer Kühlung
CEABIS
Paragon Care Group Pty Ltd
Span Surgical Co.
Kenyon Group
Mortuary Solutions
Auden Funeral Supplies Ltd
Morquip
Global Mortuary Equipment Market, by Refrigerator Unit Type
Intended Audience
Hospitals
Medical devices companies
Research institutes
Hospitals and clinics
Academic institutes
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