Latest Mortuary Equipment Market Growth Study 2022-2026 By The Business Research Company
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The mortuary equipment market is forecasted to achieve significant growth in the coming few years with a forecast CAGR (compound annual growth rate) of 7%, as per The Business Research Company’s market report!
Read More On The Mortuary Equipment Market Report 2022 – https://www.thebusinessresearchcompany.com/report/mortuary-equipment-global-market-report
The Mortuary Equipment Market Size In 2022 And Forecast
The global mortuary equipment market is expected to grow from $0.88 billion in 2021 to $0.95 billion in 2022 at a compound annual growth rate (CAGR) of 7.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The mortuary equipment market is expected to grow to $1.25 billion in 2026 at a CAGR of 7.0%.
The mortuary equipment market consists of sales of mortuary equipment by entities (organizations, sole traders, and partnerships) that are used for the preservation, moving, and storage of deceased bodies.
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Increase In Mortality Rates Is Driving The Growth Of The Mortuary Equipment Market
For instance, according to a Centers for Disease Control and Prevention report, the 2020 death rate in the United States climbed 15.9% from 2019 to 2020, from 715.2 deaths per 100,000 individuals to 828.7 deaths per 100,000 individuals. Therefore, the increasing mortality rates drive the growth of the mortuary equipment market.
Competitive Landscape And The Regional Analysis Of The Mortuary Equipment Market
Major players in the mortuary equipment market are Ferno-Washington Inc., Flexmort, LEEC Limited, Mortech Manufacturing Inc., Kugel Medical GmbH & Co. KG, EIHF Isofroid, Hygeco, S.M. Scientific Instruments Pvt. Ltd., Mopec Inc., Barber of Sheffield, C.F. di Ciro Fiocchetti & C. s.n.c., Mortuary Lift Company, Funeralia GmbH, Span Surgical Co., and Thalheimer Kühlung GmbH & Co. KG.
The Mortuary Equipment Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the mortuary equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the mortuary equipment market.
Technological Advancement – A Key Trend In The Mortuary Equipment Market
Technological advancements made funeral planning more accessible and more flexible by providing eco-friendly burials, funeral service webcasting, online obituaries, and headstone technology. Key players are focusing on new technologies to lead the mortuary equipment market.
Mortuary Equipment Market Segmentation By The Business Research Company
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
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