Market Overview:
The global medicine storage cabinet market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for safe and secure storage of medicines, rising awareness about hygiene and safety, and growing number of hospitals and clinics. Based on type, the global medicine storage cabinet market can be segmented into wood, plastic, metal, and other types. The wood segment is expected to account for the largest share of the global market in 2018 owing to its properties such as durability and resistance to moisture. Based on application, the global medicine storage cabinet market can be divided into household and commercial applications.
Product Definition:
A medicine storage cabinet is a piece of furniture that is used to store prescription medications and other medical supplies. The cabinet can be either freestanding or built into the wall. It typically has shelves and/or drawers in which to store items. The importance of having a medicine storage cabinet is that it provides a safe place for medications and other medical supplies to be stored. This helps keep the items organized and out of reach of children or pets.
Wood:
Wood is one of the most common raw materials used in cabinet manufacturing. It can be classified as hardwood and softwood based on its properties. Hardwood includes species such as oak, maple, rosewood, teak and walnut; whereas soft wood includes pine among others. The growth factor in this market is dependent upon growing conditions under which these trees grow i.e., climate & soil etc., across the globe.
Plastic:
Plastic is a widely used material for the manufacturing of medical cabinets. It is an inert, non-toxic, and durable substance that can be molded into various shapes and sizes. The most commonly used types of plastic in medicine cabinets include Polypropylene (PP), High impact polystyrene (HIPS), Acrylonitrile Butadiene Styrene (ABS), Polyethylene Terephthalate (PET) & Polycarbonate (PC).
Application Insights:
The household application segment led the global medicine storage cabinet market in 2017. This is attributed to growing awareness about health and increasing spending on healthcare as a result of rapid growth in the middle-class population. As per WHO, an average adult spends around USD 875 on healthcare annually and this expenditure is expected to increase by around 9% from 2018 to 2030. Growing demand for medicines due to rising geriatric population, chronic diseases & conditions and increased fitness activities will drive the segment further.
The commercial application segment will expand at a CAGR of XX% over the forecast period owing to an increase in medical tourism due largely without doubt but also because of other factors such as improved infrastructure resulting in better transportation facilities which has resulted in increased medical tourism globally driving this industry further.
Regional Analysis:
North America dominated the global market in 2017. The growth of this region can be attributed to increasing demand for storage cabinets in the U.S., which is one of the most developed countries, owing to high consumer disposable income and improved standard of living. Moreover, presence of a large number of manufacturers coupled with high product visibility will boost regional growth over the forecast period.
Asia Pacific is expected to witness significant growth over the next eight years owing to rising population and rapid urbanization that has led to increased construction activities across various countries such as China, India, Japan etc.
Europe also accounted for a considerable share due to growing trend towards green or eco-friendly products among consumers along with stringent government regulations regarding waste management.
Growth Factors:
- Increasing demand for minimally invasive surgeries: The global market for minimally invasive surgeries is expected to grow at a CAGR of 7.8% from 2016 to 2021. This is primarily due to the increasing preference for minimally invasive procedures over traditional open surgery, owing to their shorter recovery time and lesser surgical trauma. This is likely to drive the demand for medical storage cabinets, as they are an essential component of most surgical theaters.
- Rising prevalence of chronic diseases: The global prevalence of chronic diseases such as cancer, diabetes, and heart disease is on the rise due to changing lifestyles and aging populations. This has led healthcare providers worldwide to focus on preventive care in order to reduce the incidence of these diseases. As a result, there has been a surge in demand for diagnostic tests and treatments which require safe storage solutions such as medical storage cabinets.
Scope Of The Report
Report Attributes
Report Details
Report Title
Medicine Storage Cabinet Market Research Report
By Type
Wood, Plastic, Metal, Other
By Application
Household, Commercial
By Companies
Kohler, IKEA, Ketcham, Duravit, Bradley, Croydex, Rangaire, Afina, Strasser, Foremost, American Pride
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
237
Number of Tables & Figures
166
Customization Available
Yes, the report can be customized as per your need.
Global Medicine Storage Cabinet Market Report Segments:
The global Medicine Storage Cabinet market is segmented on the basis of:
Types
Wood, Plastic, Metal, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Household, Commercial
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Kohler
- IKEA
- Ketcham
- Duravit
- Bradley
- Croydex
- Rangaire
- Afina
- Strasser
- Foremost
- American Pride
Highlights of The Medicine Storage Cabinet Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Wood
- Plastic
- Metal
- Other
- By Application:
- Household
- Commercial
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Medicine Storage Cabinet Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A medicine storage cabinet is a cabinet or drawer in which medications are stored.
Some of the major companies in the medicine storage cabinet market are Kohler, IKEA, Ketcham, Duravit, Bradley, Croydex, Rangaire, Afina, Strasser, Foremost, American Pride.
The medicine storage cabinet market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Medicine Storage Cabinet Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Medicine Storage Cabinet Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Medicine Storage Cabinet Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Medicine Storage Cabinet Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Medicine Storage Cabinet Market Size & Forecast, 2018-2028
4.5.1 Medicine Storage Cabinet Market Size and Y-o-Y Growth
4.5.2 Medicine Storage Cabinet Market Absolute $ Opportunity
Chapter 5 Global Medicine Storage Cabinet Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Medicine Storage Cabinet Market Size Forecast by Type
5.2.1 Wood
5.2.2 Plastic
5.2.3 Metal
5.2.4 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Medicine Storage Cabinet Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Medicine Storage Cabinet Market Size Forecast by Applications
6.2.1 Household
6.2.2 Commercial
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Medicine Storage Cabinet Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Medicine Storage Cabinet Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Medicine Storage Cabinet Analysis and Forecast
9.1 Introduction
9.2 North America Medicine Storage Cabinet Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Medicine Storage Cabinet Market Size Forecast by Type
9.6.1 Wood
9.6.2 Plastic
9.6.3 Metal
9.6.4 Other
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Medicine Storage Cabinet Market Size Forecast by Applications
9.10.1 Household
9.10.2 Commercial
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Medicine Storage Cabinet Analysis and Forecast
10.1 Introduction
10.2 Europe Medicine Storage Cabinet Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Medicine Storage Cabinet Market Size Forecast by Type
10.6.1 Wood
10.6.2 Plastic
10.6.3 Metal
10.6.4 Other
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Medicine Storage Cabinet Market Size Forecast by Applications
10.10.1 Household
10.10.2 Commercial
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Medicine Storage Cabinet Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Medicine Storage Cabinet Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Medicine Storage Cabinet Market Size Forecast by Type
11.6.1 Wood
11.6.2 Plastic
11.6.3 Metal
11.6.4 Other
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Medicine Storage Cabinet Market Size Forecast by Applications
11.10.1 Household
11.10.2 Commercial
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Medicine Storage Cabinet Analysis and Forecast
12.1 Introduction
12.2 Latin America Medicine Storage Cabinet Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Medicine Storage Cabinet Market Size Forecast by Type
12.6.1 Wood
12.6.2 Plastic
12.6.3 Metal
12.6.4 Other
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Medicine Storage Cabinet Market Size Forecast by Applications
12.10.1 Household
12.10.2 Commercial
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Medicine Storage Cabinet Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Medicine Storage Cabinet Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Medicine Storage Cabinet Market Size Forecast by Type
13.6.1 Wood
13.6.2 Plastic
13.6.3 Metal
13.6.4 Other
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Medicine Storage Cabinet Market Size Forecast by Applications
13.10.1 Household
13.10.2 Commercial
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Medicine Storage Cabinet Market: Competitive Dashboard
14.2 Global Medicine Storage Cabinet Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Kohler
14.3.2 IKEA
14.3.3 Ketcham
14.3.4 Duravit
14.3.5 Bradley
14.3.6 Croydex
14.3.7 Rangaire
14.3.8 Afina
14.3.9 Strasser
14.3.10 Foremost
14.3.11 American Pride
