Transparency Market Research Report Added "Mortuary Equipment Market" to its database.
Albany, NY -- (SBWIRE) -- 10/28/2015 -- The World Health Organization (WHO) estimated the global adult mortality rate in 1990 at 198 per 1000 people. In 2013, the global mortality rate decreased to 152 per 1000 people, indicating that an increase in life expectancy has led to a decrease in global mortality rates. This trend will, however, only marginally impact that growth of the global mortuary equipment market, which is poised to stand at US$306.0 mn by 2023. According to a study research report by Transparency Market Research, the global mortuary equipment market will log a healthy CAGR of 6.3% between 2015 and 2023.
Automation is shaping the future of the global mortuary equipment market in more ways than one. Automated equipment can make mortuary operations less cumbersome by streamlining them. For instance, automated stacking trolleys and washing/embalming trolleys are increasingly being deployed to reduce the need for manual labor. Companies, on their part, are engaged in constant research and development to introduce technologically advanced mortuary equipment, fuelling the growth of the market. Besides, the demand for cadaver in research facilities has shown a gradual increase in recent years, and mortuary equipment ensures the supply of well-preserved cadavers.
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Cadaver Handling and Transportation Equipment to See High Demand
Human cadavers are used for research activities the automotive and pharmaceuticals industries and academic institutions. The preservation of cadavers calls for the use of reliable transportation and storage equipment. Refrigerators and freezers raked in the highest revenue in the global mortuary equipment market in 2015 chiefly because these products are an indispensable part of any mortuary. The defining trend in the development of mortuary refrigerators and freezers is the development of portable and advanced refrigerators. Besides this basic factor, government mandates compelling healthcare institutions to use refrigerators and freezers are contributing to the growth of the global mortuary equipment market.
In the next few years, the demand for cadaver handling and transportation equipment will show an uptick. This will occur as a result of healthcare facilities and mortuaries willing to invest more in high-quality equipment in a bid to preserve cadavers better. According to TMR, an increase in the cause of unnatural deaths will also push up the demand for cadaver transportation and handling equipment. Sales of products such as portable cadaver scissor lifts (with and without rollers), automated cadaver lifts, hydraulic autopsy carriers, and so on are projected to show an increase.
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North America Leads Mortuary Equipment Market in Revenue Terms, Demand-Supply Gap in Asia Pacific presents Enormous Opportunity
The North America mortuary equipment market generated the highest revenue globally in 2014, and was followed by Europe. While these mature markets have conventionally had a high demand for technologically advanced mortuary equipment, growth markets such as Asia Pacific and Latin America are beginning to show a noticeable increase in the demand for mortuary equipment. The developing healthcare infrastructure in countries such as China and India has created a demand-supply gap that can be tapped into by mortuary equipment manufacturing companies.
Because the development of mortuary equipment calls for substantial R&D funding, market analysts expect that the leading players will continue to dominate the global mortuary equipment market over the next few years. These include names such as Mortech Manufacturing, Inc., Kugel Medical GmbH Co. & KG, Mopec, and LEEC Ltd.
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About Transparency Market Research (TMR)
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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