Albany- New York, Oct. 14, 2015 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research "Mortuary Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2023," the global mortuary equipment market was valued at US$173.4 mn in 2014 and is expected to reach US$306.0 mn by 2023, growing at a CAGR of 6.3% during the forecast period from 2015 to 2023.
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Consistent technological advances have rendered encouraging growth opportunities for various mortuary products such as cadaver lifts, trolleys, refrigerators and freezers and others. Mortuary equipment ensure careful handling, transportation and storage of cadavers and with increasing technological sophistication, their efficiency and reliability is also enhanced. Commercialization of novel and innovative mortuary products have helped medical professionals in efficient and safe handling and storage of corpses thereby preventing decay and decomposition.
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Refrigerators and freezers accounted for the largest product segment in the global mortuary equipment market owing to the high cost and increased awareness about the products as compared to other devices. These form the most basic mortuary products essential for storage and prevention of bad odor and decay of the dead body. The major factors driving the growth of this segment is increasing awareness and development of advanced and mobile refrigerators and freezers. Furthermore, the respective national policies mandating the use of refrigerators and freezers in mortuary facilities will further support the market growth.
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Cadaver transportation and handling equipment, cadaver trolleys and lifts are expected to exhibit the highest growth rates during the forecast period from 2015 to 2023 owing to the increasing preference for efficient cadaver transportation along with increasing unnatural deaths. These products ensure effective transportation of corpses from the site of death to hospitals and respective homes. Currently, major market players are focusing on the development of novel and effective utility transportation and handling mortuary equipment such as for instance, hand cranked cadaver lift, portable cadaver scissor lift with rollers, hand crank autopsy carriers, hydraulic autopsy carriers among others. These features ensure higher adoption and acceptance during the forecast period from 2015 to 2023 thereby supporting the market growth.
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Autopsy and dissection tables ensure convenient and appropriate post mortem procedures by preventing risk of infection and spread of diseases. The demand for autopsy and dissection tables is expected to increase during the forecast period from 2015 to 2023. Other products essential in any standard mortuary facility are body bags, body rests, saw and saw tables, weighing scales, casework and shelving units. It has been anticipated that during the forecast period the demand and acceptance for these products will increase. In addition with the increasing use of the cadavers in various research activities across industries, in forensics and other cultural influences will further support the growth and acceptance of various mortuary products.
Players such as Mopec, Mortech Manufacturing, Inc., LEEC UK Ltd., Kugel Medical GmbH Co. & KG and Thermo Fisher Scientific constitute the some of the key market players in global mortuary equipment market. The global mortuary equipment market is influenced by the presence of large regional players and are more frequently used in developed economies as compared to other developing economies.
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The global mortuary equipment market is segmented into the following categories:
Mortuary Equipment Market, by Product
- Refrigerators and Freezers
- Autopsy and Dissection Tables
- Cadaver Lifts
- Cadaver Trolleys
Mortuary Equipment Market, by Application
- Research and Academics
Mortuary Equipment Market, by Geography
- North America
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)
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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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Source:Transparency Market Research