As per the latest study published by Fact.MR, the global medical beds market is projected to surpass US$ 3.8 Bn in 2021. Increasing demand for advanced medical equipment to improve patient care in hospitals, ambulatory surgery centers, and others healthcare settings is favoring the sales in the market. Driven by this, the medical beds market is anticipated to total US$ 5.5 Bn by the end of 2031.
An exponential surge in the demand for hospital beds was reported following outbreak of the novel coronavirus. Government initiatives undertaken to offer improved patient care during COVID-19 have helped in the growth of the medical beds sales.
Nonetheless, Fact.MR projects the demand for medical beds to continue rising amidst increasing patient pool of diseases such as cancer, coronary artery diseases, and lower respiratory infections. In addition to this, long hospital stays for intensive care patients are anticipated to spur the sales of medical beds at 3.7% CAGR over the forecast period 2021-2031.
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As governments and healthcare organizations took upon making healthcare accessible to those infected, the medical beds market witnessed a spurt in the demand. However, this trend has slowed down following vaccination drives aimed at curbing the spread of the novel coronavirus.
Based on product type, the semi-electric bed segment is projected to dominate the market, accounting for more than 1/3rd of the sales through 2031. Primary factors driving growth in the segment include the high adjustability, mobility, cost-effectiveness, and compatibility attributes of semi-electric beds compared to conventional medical beds. ICU beds market witnessed proliferating growth with the covid-19 outbreak. Furthermore, maternity beds market is also gaining significant traction.
“As demand for improved patient care grows, hospitals and healthcare sectors are investing in smart technologies. This also has created lucrative prospects for medical beds manufacturers to invest in innovations. Hospital beds are undergoing transformation to cater to the specific needs of patients such as need to reduce sore points for aging and obese patients,” says a Fact.MR analyst.
Key Takeaways from the Medical Beds Market Study
- North America is projected to register a swift growth in the global market owing to the increasing prevalence of chronic diseases such as cancer in the U.S. and Canada.
- Favored by the expansion of the medical infrastructure and access to favorable medical reimbursements policies in the U.K. and Germany, the Europe medical beds market is expected to account for the largest share in the global market by 2031.
- China is expected to emerge as one of the leading markets in Asia Pacific, on the back of rising emphasis on the development of advanced medical infrastructure in the country.
- The India medical beds market registered robust growth as focus on offering improved patient care skyrocketed amidst COVID-19 outbreak.
- Based on end user, the hospital segment is forecast to account for the largest revenue share in the market, supported by the presence of better medical facilities and advanced equipment.
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Key Drivers
- Growing popularity of homecare medical services and rising patient inclination towards treatment at homecare settings are propelling the demand for medical beds.
Competitive Landscape
Leading manufacturers in the medical beds market are investing in the launch of hi-tech medical beds to meet the changing needs of the healthcare industry. Some of the players are also focusing on adoption growth strategies such as expansion of production capacity, merger, and acquisition to strengthen their footprint. For instance,
- In February 2021, Stryker, an American multinational medical technologies corporation, announced the launch a new series of medical beds named, ProCuity bed series, with beds that are low-height and suitable for all environments. The new beds are in-built with advanced features such as wireless connectivity and advanced fall protection to ensure the patient safety.
- In March 2020, Hillrom, an American manufacturer of medical device and equipment, announced increasing the production capacity of medical care equipment such as ventilators and hospital beds to address the increasing demand amid the pandemic. The strategies will assist the company to increase its market share.
Some of the key players in the market profiled by Fact.MR are:
- Stryker Corporation
- Hill-Rom Holdings Inc.
- Getinge AB
- Invacare Corporation
- Amico Corporation
- Medline Industries Inc.
- LINET spol. s r.o.
- Stiegelmeyer GmbH & Co. KG
- Span-America Medical Systems Inc.
- Merivaara Corp
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More Valuable Insights on Medical Beds Market
Fact.MR, in its new report, offers a detailed analysis on the global medical beds market, analyzing forecast statistics for the assessment period 2021-2031. The study reveals growth projections in medical beds market with detailed segmentation:
By Product Type:
- Electric Medical Beds
- Semi-Electric Medical Beds
- Manual Medical Beds
By End User:
- Hospitals
- ASCs
- Other Facilities
By Application:
- Intensive Care Beds
- Non-intensive Care Beds
By Usage:
- Acute Care Beds
- Psychiatric Care Beds
- Long-term Care Beds
- Bariatric Beds
- Others
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