ALBANY, New York, November 10, 2016 /PRNewswire/ --
According to the recently published research report by TMR, the global market for hospital linen supply and management services, which offered an opportunity worth US$7.4 bn in 2015, is likely to rise at a CAGR of 2.40% during the period from 2016 to 2024 and increase to US$.1 bn by the end of the forecast period. Linen bed sheet/pillowcases emerged as the most valued products in 2015 with a share of 34.4% in the overall market. Thanks to the growing awareness regarding hygiene among consumers, researchers expect the demand for linen bed sheet/pillowcases to continue to experience strong growth over the next few years.
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North America to Witness Strong Growth of Hospital Linen Supply and Management Services Market
The study also provides a regional analysis of the worldwide market for hospital linen supply and management services on the basis of its performance in the key geographical segments, i.e. Europe, Asia Pacific, Latin America, North America, and the Middle East and Africa. Owing to the availability of advanced medical facilities, North America has surfaced as the most attractive market for hospital linen supply and management services.
Expanding at CAGR of 2.20% between 2016 and 2024, the market for hospital linen supply and management services in North America is expected to remain dominant throughout the forecast period. The rise in the demand for hospital linens, fueled by the increasing implementation of stringent regulations to maintain hygiene in hospitals, is expected to boost this market considerably in the coming years, states the research report.
Continued Demand for Hospital Linen to Propel Global Market
A significant surge has been observed in the demand for hospital linens across the world in the recent times. Analysts expect this trend to continue in the near future, leading to a substantial growth of the market for hospital linen supply and management services, globally. "As hospital linens reduce the chances of contamination and eliminate the hassle of regular laundry services, their demand is likely to increase remarkably in the coming years," says the author of this study.
Apart from this, the upswing in outsourcing of hospital linen supplies and management services and the addition of value added services in current offerings by leading vendors are also anticipated to boost this market considerably over the next few years, notes the study.
Shortage in Hospital Linen Supplies to Hinder Market Growth
While the growth prospects of the global hospital linen supplies and management services market looks thriving at present, the market may face obstacles in its growth trajectory in the years to come due to the shortage in the supply of hospital linens. However, untapped potentials of emerging economies are expected to present an opportunity-rich market to participants over the forecast period.
Due to the intense rivalry between leading players, the global market for hospital linen supply and management services demonstrates a highly competitive landscape, finds a report by Transparency Market Research (TMR).
At the forefront of this market are Steris Corp., Healthcare Services Group, E-town Laundry, ImageFIRST, and Angelica Corp. These players aggressively focus on the expansion of services to maintain their hold on to this market. However, they will need to concentrate more quality control in the near future to provide continued exemplary services to consumers in a bid to gain loyalty.
The study presented here is based on a report by Transparency Market Research (TMR) titled "Hospital Linen Supply and Management Services Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024."
The global hospital linen supply and management services market is segmented into:
- Bed Sheets/Pillowcases
- Patient Repositioner
- Bed Pads/Under Pads
- Bathing /Cleansing Accessories
By End Users
- Other Healthcare Institutes
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR's syndicated reports strive to provide clients to serve their overall research requirement.
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SOURCE Transparency Market Research