Mortuary equipment: Key market research findings
- The Americas dominate the market geographically
- Rising demand for corpses for research drives market growth
- Key vendors – LEEC, Kugel, Mopec, Mortech Manufacturing, and Thermo Fisher Scientific
Technavio’s market research analysts predict the global market for mortuary equipment to grow at a CAGR of over 5% between 2016 and 2020. The rising need for corpses, especially for academic and commercial research, will act as a key growth-promoting factor for this market. Body farms are research facilities where decomposition can be studied in a variety of settings for forensic analysis and anthropology. Many research institutes have also begun to procure more cadavers for research and training purposes. During 2015, the global mortuary equipment market was dominated by the Americas with over 36% stake in the overall market share. Rising number of deaths and the need to comply with stringent regulatory standards will drive growth in the global mortuary equipment market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the mortuary equipment segments based on the product.
“According to our analysts, the need for more advanced autopsy equipment and forensic analysis tools will result in rapid innovations in this market in the near future. Mortuary refrigerators and freezers have the ability to sense the volume of the bodies inside and the relative temperature outside to maintain cooling and preserve the body. This was made possible with the help of some sensors working in tandem with each other to relay data and change the cooling environment accordingly,” says Abhay Sinha, Lead Analyst, New Coverage, Technavio Research.
By 2020, the refrigerator segment will account for more than 43% of the overall market share to continue its dominance over the global mortuary equipment market. Mortuary refrigerators include body freezers and temporary storage refrigerators. These products are the costliest products in the mortuary equipment market, which is one of the primary reasons for the larger share of the market despite the longer replacement cycles. Innovation with respect to product design and power consumption will drive the growth of this market segment in the coming years.
The key vendors in the global mortuary equipment market include LEEC, Kugel, Mopec, Mortech Manufacturing, and Thermo Fisher Scientific. The market will exhibit fastest growth during the forecast period in APAC and in Central and South America due to the presence of relatively larger populations, particularly in the age group of 70 years and above, and also a high incidence of chronic diseases. Intense competition among the leading vendors has led to the introduction of many innovative and advanced solutions in the market.
A more detailed analysis is available in the Technavio report, Global Mortuary Equipment Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
