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Indian Healthcare For A Holistic Development
The Indian healthcare sector is on a growth trajectory with competitive pricing and quality treatment. Both local and global hospital furniture suppliers and equipment manufacturers have made inroads into the Indian market proliferating it with innovation and technology. There is a vast segment of providers, diagnostics, medical devices, and technology who have adopted new models to meet the needs of new-age patient-care. Though there is growth in the Indian healthcare sector, Indian hospital furniture suppliers have not been benefited due to the presence of international brands in the market.
Compromise on quality and cost may not help the sector to revive. The patient-care equipment includes innovative and smart hospital ward beds, ICU beds, OT tables, trolleys, and other medical furniture. These are something a hospital cannot do without. It has to be the best in class equipment for quality services and care. It plays a critical role in hospital services. The health care sector should include equipment manufacturers and hospital furniture suppliers. Policies and incentives should be a big support to this sector and they should be able to get credits at cheaper rates. Quality should never be compromised for cost yet low-quality equipment is dumped in the country.
Inspace Healthcare Furniture is a one-stop-shop for all your hospital furniture needs. Our superior quality hospital furniture includes instrument trolley, hospital over bed table, examination couch for clinic, and many more. We cover the entire gamut of furniture and ensure that the patient and staff spend a less challenging time at hospitals with our ergonomically designed hospital furniture in Chennai. We have over 33 years of experience in the furniture industry, and it reflects in all our quality hospital furniture.
Challenges in The Medical Sector
Rise in cost for real estate, resources, and other materials required for hospitals is a big challenge for the healthcare sector, especially private hospitals. Compared to rural areas, real estate prices for towns and cities are quite high. This increases the capital and other operational costs for a hospital. Due to the high expenditure on hospital premises and infrastructures, expenditure on patient care equipment is mostly compromised. Patient care equipment is given the lowest priority and their expenses are brought down to the lowest level. This is mainly due to the high cost incurred in setting up a green hospital.
But there are a few things hospitals cannot compromise on. Patients spend their maximum time inside hospital premises in the hospital bed. Medical beds should be of superior quality and comfort. They must be equipped with high technology for ease of use by the caregiver. Automated beds are portable and do not require additional help to shift the patient. Hospitals are however hesitant in spending on such sophisticated equipment. Government-run hospitals are now emerging as one of the best hospitals that adopt newer and sophisticated technologies and equipment for patient care.
The Indian government has been investing in research and development to promote sustainable growth in the field of patient-care equipment manufacturing. There are several challenges for domestic players in lieu of the absence of fast approval and timely payments. An industry-friendly business climate solely for the patient-care industry is required to provide new momentum. Sophisticated equipment and treatment will bring a lot of changes to the way services provided by the hospitals. A patient, based on diagnosis, will not have to spend a lot of time in the hospital. Caregivers will have good facilities to take care of the patient.
Market Share Of Hospital Furniture Suppliers
Make in India can be good propaganda to increase the market share of domestic patient-care service providers. It will not only raise the level of quality to meet international standards but can also bring down the cost of healthcare services. Such hospital furniture and equipment are not something that can be procured in bulk and stored. Hospitals place orders on a need basis taking into consideration expansion and development. The public and private sectors need to devise a better procurement mechanism and policy to leverage growing demands.
Hospital beds segment is poised to grow to around 4.6 billion dollars by the year 2023. Accessibility enabled smart beds to have good growth potential. It can provide a center of healthcare ecosystem which is comprehensive and advanced. Hospitals are the most important end-users of patient-care equipment and hospital beds. The Indian hospital bed market was around Rs 750 crore in the year 2018. There were total sales of 125,000 units. Hospital beds comprise around 59% of the total furniture required by a hospital. The hospital bed segment alone is expected to grow by around 10 to 12 percent.
There is a need for an additional 120k to 130k hospital beds every year. The next popular demand is lights and OT tables segments. It has a huge opportunity to grow. The global lights and surgical tables market is expected to grow by $1800 million by the year 2026. The segment is growing by 3% every year. Nearly 4550 units were sold in the Indian market accounting for 230.75 crores. Sales of sophisticated segments stood at 3800 units. It constitutes 83.5% of the total market. Sophisticated and indigenous development in the field of patient-care equipment will help the Indian healthcare sector to provide world-class services and patient care.
Inspace Hospital Furniture, with over 30 years of experience boasts of perfection at par with excellence in coming up with the best-ever furniture solutions that walk hand in hand with the latest technological advancements.