DUBLIN--(BUSINESS WIRE)--The "Mortuary Equipment Market - Growth, Trends, and Forecasts (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The major factors attributing to the growth of the mortuary equipment market are decreased life span and increased number of morgues along with hospitals. For instance, according to National Vital Statistics Reports in June 2019, the global life expectancy is 78.6 years in 2017. The report says that life expectancy was decreased by 0.1 years with that of in 2016 and is expected to decrease during the forecast period which drives the market.
Additionally, rising technological improvement in terms of automation and development of convenient equipment are the major trends observed in the mortuary equipment market. Thus, the rise in demand to upgrade and replace the traditional platforms with advanced equipment is expected to drive the market.
Key Market Trends
Refrigeration Unit Segment by Product Type is Expected to Hold the Largest Market Share
The refrigeration unit segment is expected to account for the largest market revenue over the forecast period. It is due to the highest demand along with the high purchase and installation costs of the equipment which generates huge revenue. Furthermore, the availability of customized storage units in various sizes which assist the transfer of cadavers and the rapid establishment of new private morgues that also provide funeral services mainly drive the growth of refrigeration units market.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is anticipated to account for the largest share of the global mortuary equipment market. The dominance is due to a higher death rate in the region and an increase in the number of hospitals and private morgues which also fuels the market.
Europe contributed to the second largest market share owing to the faster adoption of advanced technologies thus projecting to propel the global market. As major populations in these regions follow Christianity, where the demand for funeral services is high, the revenue share will project the global market.
The Asia-Pacific region is expected to witness the fastest growth rate in the global mortuary equipment market. The rapid growth is expected due to the growing number of hospitals and steep advancement in the health care infrastructure coupled with the proliferation of private mortuaries in the region. Local market players and new entrants in developing countries like India and China also contribute a major share in the market revenue.
The mortuary equipment market is moderately competitive and consists of several major players. Some of the key players are introducing advanced types of equipment with automation enabling Forensic investigations and Academic researches more convenient, while others are distributing the products and increasing their market position globally. Additionally, some of the companies are entering into partnerships with hospitals which fuels the market revenue.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increased Global Geriatric Population and Decrease in Life Expectancy
4.2.2 Rise in Number of Morgues and Growing Demand for Automation in Post-mortem Procedures
4.3 Market Restraints
4.3.1 High Cost of Purchase and Maintenance of Equipments
4.3.2 Cultural and Ethical Concerns Related to Post-mortem and Storage of Dead Bodies
4.4 Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 Product Type
5.1.1 Refrigeration Units
5.1.2 Autopsy Platforms
5.1.3 Cadaver Lifts
5.2.1 North America
5.2.4 Middle-East & Africa
5.2.5 South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Roftek Ltd.
6.1.2 SM Scientific Instruments Pvt. Ltd.
6.1.3 KUGEL medical GmbH & Co. KG
6.1.4 Leec Ltd.
6.1.5 Thermo Fisher Scientific Inc.
6.1.6 Mortech Manufacturing Company Inc.
6.1.7 Hygeco Lear Limited
6.1.9 Mortuary Lift Company
6.1.10 Ferno-Washington Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/vkko6t