Transparency Market Research (TMR) has recently published a study on the global mortuary equipment market that estimates the market to rise from US$0.17 bn in 2014 to US$0.3 bn by 2023, expanding at a CAGR of 6.30% between 2015 and 2023.
Albany, NY -- (SBWIRE) -- 06/13/2016 -- Mortuary equipment are mostly utilized to ensure careful handling, storage and transportation of cadavers. With increasing technical sophistication, the efficacy and reliability of these equipment is enhanced, allowing a more effective and convenient preservation of bodies meant for clinical research or medical studies.
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The global market for mortuary equipment has witness steady growth in the recent past. The increasing need for effective and safe handling of corpses, preventing decomposition, for forensic examination or for academic or commercial research is fueling the demand for mortuary equipment globally. However, the high equipment cost may limit the market growth in the coming years. Though constant technical advancements in this field are likely to boost the market significantly over the forecast period.
In addition to this, the increasing trend of automation is anticipated to present a lucrative opportunity to market participants. The large population base and high death rate in emerging economies are also encouraging these players to invest in these markets, thus substantially aiding the growth of the global mortuary equipment market.
The report evaluates the global market for mortuary equipment on the basis of the product, application, and the region. Cadaver trolleys, cadaver lifts, autopsy and dissection tables, and refrigerators and freezers have been identified as the main products available in this market.
The refrigerators and freezers segment dominated the overall market in 2014. However, analysts project the demand for cadaver lifts and trolleys to increase in the near future, enabling these segment to register the highest growth rate during the forecast period, states the research report.
Research and academics, cultural activities, and forensics have been identified as the prime application areas of mortuary equipment, worldwide. The demand for mortuary equipment is the highest in postmortem and forensic labs. Cadaver lifts and trolleys find significant application in cultural activities.
The report identifies Europe, Asia Pacific, Latin America, North America, and the Middle East and Africa as the key regional markets for mortuary equipment across the world. In 2014, North America accounted for the largest revenue share in this market and was closely followed by Europe. The introduction of portable devices with high efficiency has boosted the North America mortuary equipment market significantly in the past few years.
The Asia Pacific mortuary equipment market is expected to witness a healthy rise during the forecast period, notes the study. The infrastructural development in the medical and healthcare industry is likely to propel this regional market over the coming years.
The report also provides a holistic overview of the competitive landscape of the global market for mortuary equipment. According to it, the market is highly concentrated and capital-intensive. Thermo Fisher Scientific Inc., Mortech Manufacturing Inc., Mopec, LEEC UK, KUGEL Medical Gmbh & o. KG, Flexmort, and Ferno-Washington Inc. are the prime manufacturers of mortuary equipment mentioned in this study.
The global mortuary equipment market is segmented into:
Refrigerators and Freezers
Autopsy and Dissection Tables
Research and Academics
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