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As per the latest report by IMARC Group, titled “Office Furniture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global office furniture market size reached US$ 64.3 Billion in 2018. Office furniture represents one of the key facilities that are provided by the management for conducting work efficiently. It is generally manufactured using materials like metal, wood, plastic and fiberglass, and plays an important role in seating as well as storing and protecting crucial documents against fire, dust, insects and theft. Well-designed furniture also helps in reducing fatigue and enhancing overall work productivity.

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Global Office Furniture Market Trends:

The global office furniture market is currently being propelled by the rising demand for premium and designer furniture products, along with the burgeoning corporate and real estate sectors across the globe. The growth of the market is further supported by an increase in the number of corporate offices owing to the construction of IT parks and commercial zones. Moreover, numerous organizations nowadays are setting-up informal office spaces to create a collaborative environment and promote social interaction among co-workers. This has prompted manufacturers to introduce intelligently designed furniture products which, in turn, is strengthening the market growth. Further, on account of technological advancements and the growing incidences of health issues, there has been an increase in the demand for smart workplace furniture that offers internet connectivity and promotes better posture. Looking forward, the market value is projected to reach US$ 86.7 Billion by 2024, expanding at a CAGR of around 5% during 2019-2024.

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Market Summary:

• Based on the product type, the market has been segmented into seating, systems, tables, storage units and file cabinets, overhead bins, and others. At present, seating represents the leading product category worldwide.  
• On the basis of the material type, the market has been segregated into wood, metal, plastic and fiber, glass, and others. Amongst these, wood accounts for the majority of the total market share.
• The market has been analyzed on the basis of the distribution channel into direct sales, specialist store, non-specialist stores, online, and others. Currently, direct sales exhibit a clear dominance in the market.
• Based on the price range, the market has been classified into low, medium and high segments.
• Region-wise, North America represents the biggest market for office furniture across the globe. Other major markets include Asia Pacific, Europe, Latin America, and Middle East and Africa.
• The competitive landscape of the market has been examined in the report. Some of the major players operating in the industry include Knoll, Inc., HNI Corporation, OKAMURA CORPORATION, Steelcase Inc., Herman Miller, Inc., Haworth Inc., KOKUYO Co., Ltd., Meridian Office Group, Kimball International, 9to5 Seating, BERCO DESIGNS and Hooker Furniture.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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The latest report by IMARC Group, titled “Hormone Replacement Therapy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, estimates that the global hormone replacement therapy market reached a value of around US$ 4.2 Billion in 2018. Hormone replacement therapy refers to a type of treatment which involves the management of low levels of hormones, resulting from lack of secretion in the human body. It is suitable for elderly patients suffering from hypogonadism, women in menopausal transition and patients with deficiency of growth hormone. HRT is considered to be a more efficacious treatment in comparison to its alternatives such as chemical drugs, herbal medicines, etc. However, there are some harmful effects of HRT such as indigestion, nausea, fluid retention, swelling, etc. Prolonged consumption of HRT drugs may also increase the risk of blood clots.

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Market Trends:

A rise in the prevalence of hormonal imbalance disorders in neonatal as well as elderly population is the major growth-inducing factor for the market. Apart from this, HRT is considered to be effective in treating the symptoms of menopause like night sweats, vaginal dryness, hot flashes and sexual function. Moreover, HRT helps in improving the quality of life and minimises the risk of cardiovascular diseases, colorectal cancer, vasomotor symptoms and osteoporosis. Further, advancements in technology, such as the introduction of transdermal drug delivery and new gel-based formulations, along with an increase in R&D investments by the manufacturers are providing a thrust to the market growth. Increasing awareness among the consumers, direct selling campaigns by the players, population aging and sedentary lifestyles are some of the other drivers boosting the demand for hormone replacement therapy. Looking forward, the market is projected to reach a value of US$ 6.3 Billion by 2024, projecting a CAGR of 7% during 2019-2024.

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Market Summary:

• The market has been segregated on the basis of product type into estrogen replacement therapy, human growth hormone replacement therapy, thyroid replacement therapy and testosterone replacement therapy. Amongst these, estrogen replacement therapy holds the largest market share.
• Based on route of administration, parenteral represents the leading segment, accounting for the majority of the market share. It is followed by oral and transdermal methods.
• On the basis of disease, the report has divided the market into hypothyroidism, menopause, male hypogonadism and growth hormone deficiency. Currently, menopause accounts for the largest share.
• Region-wise, North America represents the biggest market for hormone replacement therapy. It is followed by Europe, Asia Pacific, Middle East and Africa, and Latin America.
• The report has also analyzed the competitive landscape of the market.  Some of the key players include Bayer AG, Eli Lilly & Company, Roche, Abbott Laboratories, Hisamitsu Pharmaceutical Co. Inc., Mylan, Novartis, Merck, Novo Nordisk and Pfizer.

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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us
IMARC Group
USA: +1-631-791-1145
Email: sales@imarcgroup.com
Website: https://www.imarcgroup.com
Follow us on twitter: @imarcglobal