October 07, 2019
According to the new research report available at MarketStudyReport.com under the title ‘Global Medical Bed Market Growth 2019-2024’, the worldwide medical bed market is anticipated to surpass US $1380 million by the year 2024.
Advancement in medical equipment and evolution of patient demands is leading to the development of various categories of specialized and multi-function medical beds. The overall provider and patient demand for health care services and products will continuously grow as a result of several factors including longer life expectancies and rising geriatric population. Increasing number of patients across all healthcare settings including hospitals, home, and extended care facilities will drive the medical bed market growth.
Increasing population of obese and elderly is compelling the healthcare systems to treat numerous incidences of complex conditions and diseases like heart failure, respiratory disease and diabetes. This factor, along with enhanced acuities and technological expansion will stimulate the growth of medical bed industry.
Considering the product type, the medical bed market is segmented as critical bed, long term care bed, medical surgical bed, maternal bed, and others. While based on the application spectrum, the market is fragmented as hospital medical bed, household medical bed, and others.
Speaking of the regional landscape, the medical bed market is divided into four major regions which are Europe, Americas, Middle East & Africa, and Asia Pacific. The report cites that there is a rising demand among emerging countries to invest in health care. While market growth rates in developed regions like northern & western Europe and Japan have toned-down, but in various markets, where the spending on health care is growing, long-term demand is projected for medical technologies, propelling the market growth.
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According to the report, the global medical bed market was worth US $1340 million in 2019 and is estimated to grow with a CAGR of 0.5% by the year 2024. The report also presents comprehensive insight about the segmental share, overview, growth opportunities, challenges and trends impacting the market growth.
The prominent vendors operating in medical bed market include ProBed Medical, Hill-Rom Holdings, Inc., American Medical Equipment (AME), Invacare Corporation, Transfer Master, and Drive Medical among others.