PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1490132
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1490132
Global medical headwalls market is estimated to be valued at USD 952.9 Mn in 2024 and is expected to reach USD 1,389.8 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.5% from 2024 to 2031.
Report Coverage | Report Details | ||
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Base Year: | 2023 | Market Size in 2024: | US$ 952.9 Mn |
Historical Data for: | 2019 to 2023 | Forecast Period: | 2024 to 2031 |
Forecast Period 2024 to 2031 CAGR: | 5.50% | 2031 Value Projection: | US$ 1,389.8 Mn |
Medical headwalls are used in healthcare facilities to connect medical gases, electrical outlets, telemetry connections for cardiopulmonary monitoring, nurse call systems, suction, and oxygen to patient beds. These help in streamlining operations and improving patient care by enhancing accessibility of commonly used medical facilities. Rising instances of chronic diseases and increase in geriatric population needing long-term medical care boosts demand for various healthcare services, and this boosts need for advanced medical equipment like headwalls for effective patient monitoring and treatment. Moreover, growing investments in healthcare infrastructure development especially in emerging nations can drive the growth of medical headwalls market.
Global medical headwalls market growth is driven by growing prevalence of chronic illnesses worldwide necessitating long-term medical care. According to World Health Organization (WHO), chronic diseases accounted for over 70% of all deaths globally in 2020. Increasing geriatric population, rapid development of healthcare infrastructure especially in developing countries, and continuous technological advancements enhancing flexibility and functionality of medical headwalls can drive the market growth. However, high initial installation cost of medical headwalls can hamper the market growth. Significant research investments to develop affordable and innovative product variants can boost the market growth. Moreover, expanding healthcare networks in emerging Asian and Latin American countries can offer opportunities for the market growth.
Detailed Segmentation-