Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "Mortuary Equipment Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The mortuary equipment market size has grown strongly in recent years. It will grow from $1.05 in 2023 to $1.14 in 2024 at a compound annual growth rate (CAGR) of 8.6%. The mortuary equipment market size is expected to see rapid growth in the next few years. It will grow to $1.67 in 2028 at a compound annual growth rate (CAGR) of 10.1%.
The growth observed in the historical period can be attributed to factors such as the development of healthcare infrastructure, population growth, the funeral industry's demands, adherence to regulatory compliance, and the impact of natural disasters.
The anticipated growth in the forecast period can be attributed to factors such as the aging population, the utilization of mortuary equipment in military and law enforcement contexts, the increased demand for cremation services, the influence of cultural diversity, and the emphasis on pandemic preparedness. Key trends expected during this period include the adoption of green burial practices, the implementation of digital records and management systems, the exploration of remote autopsies, a focus on sustainable practices within the industry, and the integration of smart technologies in mortuary equipment.
The anticipated increase in mortality rates is expected to drive the growth of the mortuary equipment market in the future. The mortality rate, commonly known as the death rate, is a metric indicating the number of deaths in a specific location or period. With the rise in the death rate, there is an increased demand for mortuary equipment, including body bags, mortuary stretchers, lifting carts, mortuary washing units, and autopsy tables. These tools are essential for the proper preservation and storage of deceased individuals.
The growth of the mortuary equipment market is expected to be fueled by the increasing prevalence of chronic diseases. Chronic diseases, lasting for three months or longer, include conditions such as cancer, heart disease, stroke, diabetes, and arthritis. The higher incidence of chronic diseases has led to an elevated demand for mortuary equipment, as these conditions often result in complications that may lead to death. Proper handling and preparation of deceased individuals necessitate the use of mortuary equipment.
A prominent trend in the mortuary equipment market is the emphasis on product innovation. Funeral planning has become more accessible and flexible through innovative products that offer eco-friendly burials, funeral service webcasting, online obituaries, and advanced headstone technology. Key players in the market are focusing on developing innovative products to maintain a competitive edge.
North America was the largest region in the mortuary equipment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The countries covered in the mortuary equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Scope
- Markets Covered: 1) By Product Type: Refrigerators And Freezers; Autopsy And Dissection Tables; Cadaver Lifts; Cadaver Trolleys; Other Types 2) By Application: Manual; Automated 3) By End User: Hospitals; Academic Institutions; Research Organizations; Forensic Laboratories; Other End-Users
- Key Companies Mentioned: Ferno-Washington Inc.; Flexmort; LEEC Limited; Mortech Manufacturing Company Inc.; Kugel Medical GmbH & Co. KG
- Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
A selection of companies mentioned in this report includes
- Ferno-Washington Inc.
- Flexmort
- LEEC Limited
- Mortech Manufacturing Company Inc.
- Kugel Medical GmbH & Co. KG
- EIHF Isofroid
- Hygeco
- S.M. Scientific Instruments Pvt. Ltd.
- Mopec Inc.
- Barber of Sheffield Ltd.
- C.F. di Ciro Fiocchetti & C. s.n.c.
- Mortuary Lift Company
- Funeralia GmbH
- Span Surgical Co.
- Thalheimer Kuhlung GmbH & Co. KG
- Roftek Ltd.
- Thermo Fisher Scientific Inc.
- Hickey & Co.
- SOVA Motion
- Shandon Inc.
- Mortuary & Cemetery Supply Co.
- Jiangsu Saikang Medical Equipment Co. Ltd.
- American Crematory Equipment Co.
- B&L Cremation Systems Inc.
- C.F. Weber Co. Inc.
- Coldspring
- Crescent Memorial
- Custom Air Trays
- DFW Europe
- Eckels
- Funeral Source One
- GEM Scientific Inc.
For more information about this report visit https://www.researchandmarkets.com/r/3zhzs5
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