Mortuary Equipment Market: Booming Trends, Segmentation and Competitors Analysis
The global mortuary equipment market is expected to display a strong 6.48% CAGR over the forecast period from 2019 to 2024, according to the latest research report from Market Research Future (MRFR). The global mortuary equipment market is expected to reach a valuation of close to USD 1.3 billion by 2024. The report presents a comprehensive analysis of the global mortuary equipment market, providing readers with a detailed overview of the market’s leading players. Leading drivers and restraints affecting the global mortuary equipment market are also elaborated upon in the report. This gives readers a comprehensive overview of the market’s economic and competitive landscape.
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The growing demand for technological updation is the major driver for the global mortuary equipment market. As the work involved in mortuaries can be quite unpleasant in nature, many mortuaries are opting for automated machines. These machines can do the work of multiple human workers with optimum quality and no fuss. Coming up with technological updations to make the job of mortuary technicians more palatable and easier has thus become a crucial development avenue for manufacturers of mortuary equipment. The increasing demand for technological upgrades to make mortuary work easier and more palatable is likely to be a major driver for the global mortuary equipment market over the forecast period.
In Asia Pacific, where awareness regarding mortuaries is relatively low, the mortuary equipment market stands to grow strongly over the coming years. The major unmet potential in Asia Pacific makes this a prime driver for the global mortuary equipment market. The increasing state expenditure to make mortuaries more technologically updated and modern and the increasing awareness about mortuary technology are likely to be the key drivers for the global mortuary equipment market over the forecast period.
Mortuary Equipment Market Competitive Analysis:
Leading players in the global mortuary equipment market include Flexmort, Funeralia GmbH, EIHF Isofroid, Barber of Sheffield, Ferno-Washington Inc., Mopec Inc., Mortech Manufacturing Company Inc., HYGECO, Thermo Fisher Scientific, SM Scientific Instruments Pvt. Ltd., KUGEL Medical GmbH & Co. KG, and LEEC Limited.
In January 2018, HYGECO made a deal to sell mortuary equipment to the Blida and Tamanrasset military hospitals in Algeria.
In November 2017, Mopec Inc. announced a new cadaver lift offering versatility in design and performance.
Mortuary Equipment Market Segmentation:
The global mortuary equipment market is segmented by product type, end use, and region.
By product type, the global mortuary equipment market is segmented into refrigeration units, embalming workstations, dissection tables, autopsy platforms, cadaver lifts and trolleys, and others. The refrigeration units segment accounted for the largest share of USD 231.4 million in 2018 and is likely to remain the leading revenue generator over the forecast period.
By end use, the global mortuary equipment market is segmented into hospitals, academic institutes and research organizations, forensic laboratories, and others.
Mortuary Equipment Market Regional Analysis:
The Americas is the major revenue generator in the global mortuary equipment market and is likely to remain in this position over the forecast period, followed by Europe and Asia Pacific. Awareness about mortuaries, mortuary processes, and technology is quite high in North America. This is a major driver for the mortuary equipment market in the region. The increasing support given to the healthcare sector by the government is also likely to be a major driver for the mortuary equipment market in North America over the forecast period. The geriatric population is quite high in North America; this is also likely to be a major driver for the mortuary equipment market, as this is likely to lead to a growth in the death rate in the coming years.
The massive unmet demand in regions such as China and South Korea is likely to make Asia Pacific an important regional market for the global mortuary equipment market over the coming years. Japan, China, South Korea, India, and Australia are the leading regional markets within the Asia Pacific mortuary equipment market. The growing scope of the healthcare sector in these regions is likely to offer an increased scope for the mortuary equipment market in these regions over the forecast period. Increasing awareness about mortuaries has also led to a growing demand for mortuary equipment in Asia Pacific and is likely to remain a key driver over the forecast period.
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