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 analysis timeframe. 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.
Global Medical Bed Market is projected to surpass USD 4 billion By 2025; according to a new research report by 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. According to World Ageing Population, in 2017, 962 million people were in the age group of 60 years & above and is poised to show substantial growth by 2050. 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.
Rising prevalence of chronic diseases including cardiovascular diseases, diabetes, cancer, chronic respiratory disorders and stroke will serve to be a positive impact rendering factor in the industry growth. Chronic diseases leading to rise in the number of hospital admissions for proper and effective patient treatment will favor revenue growth. Increasing disposable income along with advancement in healthcare infrastructure will further spur the business revenue. However, low volume of beds in public hospitals, especially in developing and underdeveloped countries may negatively impact the business growth.
Browse key industry insights spread across 144 pages with 100 market data tables & 9 figures & charts from the report, “Medical Beds Market By Product (Acute Care Bed, Long-term Care Bed, Psychiatric Care Bed, Bariatric Bed, Others), By Bed Type (Manual Bed, Electric Bed, Semi-electric Bed), By Application (Intensive Care, Non-intensive Care), By End-use (Hospitals, Home Care Settings, Elderly Care Facilities), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Poland, China, India, Japan, Australia, Brazil,Mexico, South Africa, Saudi Arabia, Qatar, UAE), Application Potential, Competitive Market Share & Forecast, 2019 – 2025″ in detail along with the table of contents:
Acute care bed segment of medical bed market is anticipated to show more than 6.5% CAGR during the forecast timeframe. 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 will increase around 5.8% 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% revenue share in 2018 owing to increasing number of surgical procedures carried out in hospital settings. According to an annual survey of U.S. hospitals conducted by the American Hospital Association, the total number of staffed beds in registered U.S. hospitals was 897,961 in 2015. Moreover, mandates pertaining to the Hospital Available Bed for Emergencies and Disasters (HAvBED) system should be implemented and supported on a national level. Such factors should drive industry growth over the forecast period.
North America medical bed market witnessed over 23% revenue share in 2018 and is anticipated to grow exponentially over forecast timeframe. Growing funding on healthcare infrastructure will drive the regional growth. The American Hospital Association conduct annual survey of hospitals in the U.S. Total staffed beds in U.S. registered hospitals were 897,961 in 2015. Moreover, patient awareness about the benefits of early diagnosis will boost the North America medical bed market over the forecast period.
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. For instance, in July 2015, Stryker signed an agreement to acquire Muka Metal, A.S., a turkey-based seller of medical beds, stretchers and related furniture. The acquisition extended Stryker’s offering in Turkey as well as other regions of the world resulting in leading to geographical expansion. – PR Newswire