The global medical bed market is projected to surpass USD 4 billion by 2025, estimates Global Market Insights, Inc. Increasing geriatric population, which is highly susceptible to chronic and infectious diseases, will serve as a significant impact-rendering factor in the medical bed market growth. Majority of the elderly population suffering from chronic diseases and physical disabilities will fuel the demand for durable medical beds for their routine activities. Additionally, weakened immunity along with rising prevalence of infectious diseases will foster business growth over the coming years.
Intensive care segment of medical beds market was valued at over USD 1.3 billion in 2018, and is projected to show lucrative growth during 2018–2025. High demand for intensive care services and rising focus on bed availability to address capacity planning challenges will drive the business growth. Rising focus on better patient throughput, improved bed availability, maximum flexibility of bed placement, and access to intensive care bed for optimizing utilization of ICU capacity will spur segment size during the forthcoming years.
Acute care bed segment of medical bed market is anticipated to show more than 6.5 percent CAGR. Rising geriatric population and increasing incidence of disabilities in individuals will surge the demand for acute care beds. Delays and prolonged waits are common in acute care settings. Increasing adoption of diagnostic and therapeutic services in hospitals and clinics will further augment the demand for these beds. However, many countries in developed regions are facing problems in providing hospital care in a timely manner due to significant reduction in acute care bed numbers. Such factors should accelerate the segment growth during the forthcoming years.
Manual bed segment held considerable revenue in 2018, and it will increase around 5.8 percent CAGR by 2025. Increasing use of manual hospital bed as a cost-effective means of delivering similar levels of comfort with no risks of power loss, electrical failure, and expensive maintenance will boost the industry size over the forecast period. Growing use of manual beds, particularly in-home care, will propel the segmental business. Hospitals segment accounted for more than 65 percent revenue share in 2018 owing to increasing number of surgical procedures carried out in hospital settings.
Eminent industry players operational in medical bed market include Antano Group, Getinge, Gendron, Besco Medical, GF Health Products, Hard Manufacturing, Hill-Rom Holdings, Midmark and Invacare. These industry players adopt strategies such as geographic expansion, acquisition, merger, and new product launch to sustain market competition.