(I-BusinessNews.Com, February 06, 2021 ) Factors such as increasing investments in healthcare infrastructural development, technological innovations in ICU beds, increasing number of beds in private hospitals, and increasing volume of chronic care patients are expected to drive the growth of the medical beds market in the coming years. On the other hand, the declining number of beds in public hospitals may limit market growth to a certain extent. The growing trend of home care is expected to provide a wide range of opportunities to players in the market.
Major Growth Drivers:
The past few decades have witnessed a transformation in the global healthcare environment. Many countries across the globe have experienced unprecedented economic growth. While the global economic crisis in 2008 affected many of these countries, they appear to have recovered and continue to grow, albeit at much slower rates. As a result, these economies have witnessed a dramatic change in their economic, cultural, industrial, and healthcare environments.
Expected Revenue Growth:
Medical bed market is expected to reach $3.41 billion by 2022 from $2.59 billion in 2017, at a CAGR of 5.6% during the forecast period. Base year considered for the report is 2016 and the forecast period considered for this report is 2017Â2022.
Accessories to Fuel the Growth of Medical bed market :
Healthcare infrastructural development is a key issue in most developed and developing countries. Increased investments in healthcare infrastructure also have a positive impact on the medical beds market. Increased investments lead to increased costs allocated for medical beds, which is an important factor driving market growth.
The key players in the market were identified through secondary research and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares, splits, and breakdowns were determined by using secondary sources and verified through primary sources
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Intensive Care beds is a largest segment in medical beds market. Technological innovations have led to specialized ICU beds, which now come with highly advanced features. Features such as continuous lateral rotation therapy, patient repositioning support, weight-based pressure redistribution in any bed position, and electrical bed retraction and extension greatly benefit caregivers while treating patients. These technologically advanced medical beds are also beneficial for patients as they increase comfort and improve compliance.
The medical beds market is segmented on the basis of type, application, end user, usage, and region. On the basis of type, the medical beds market is segmented intoÂ manual beds, semi-electric beds, and electric beds. The electric beds segment is expected to dominate the medical beds market in 2017. The growing obesity rate is the major factor driving the demand for electric beds, as these are essential medical equipment in bariatric care.
Based on usage, the medical beds market is segmented into major four categoriesÂ acute care, psychiatric care and bariatric care, long-term care, and other beds (maternity and rehabilitative beds). The long-term care segment is expected to have the fastest-growing market during the forecast period owing to the increasing number of patients requiring long-term care.
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Key Market Players :
The major players in the global medical beds market include Getinge AB (Sweden), Linet Spol. s.r.o. (Czech Republic), Stryker Corporation (U.S.), and Hill-Rom Holdings, Inc. (U.S.).
Mr. Aashish Mehra