April 09, 2020
As per the report titled ‘Medical Bed Market Size By Product (Acute Care Bed, Long-term Care Bed, Psychiatric Care Bed, Bariatric Bed), 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, Spain, Italy, Russia, Poland, China, India, Japan, Australia, Brazil, Mexico, South Africa, Saudi Arabia, Qatar, UAE), Application Potential, Competitive Market Share & Forecast, 2019 - 2025’, available with Market Study Report LLC, global medical bed market is projected to surpass USD 4 billion by the year 2025.
Increasing number of patients in private hospitals will augment the growth of medical bed industry over the forecast period. Rising prevalence of chronic conditions among the elderly population requiring long-term patient care is driving the demand for advanced healthcare facilities, medical equipment and supplies, thereby stimulating the business landscape.
Rising investments in healthcare infrastructure coupled with several initiatives undertaken by the government and private players aimed towards improvement of healthcare facilities, particularly in developing nations will foster the market growth over the forecast timeline. On the other hand, high cost of specialty beds may restrain medical bed industry scenario.
In terms of bed type, electric bed segment was worth USD 1.3 billion in 2018 and is expected to grow considerably during the study phase. Electric beds offer control features which minimize manual efforts, allowing disabled patients to operate the bed with ease. This convenience feature is a major factor favoring the product use, especially in homecare settings.
Based on the product spectrum, long-term care bed segment is predicted to grow with 5% CAGR during the analysis timeframe, owing to its use for patients with chronic ailments. Rising geriatric population who are more prone to chronic disorders is expected to boost the sales of long-term care bed. Availability of fully functional motorized bed will amplify the product adoption in the ensuing years.
Speaking of the application scope, non-intensive care segment accounted for 56% revenue share of medical bed industry in 2018 and is expected to show noticeable growth in the coming years. The growth can be attributed to rising incidences of hospital acquired infections in non-intensive care units.
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Considering the geographical landscape, Europe medical bed market is estimated to expand with a CAGR of 2.3% through 2025. Growing investment in medical technologies for better healthcare, coupled with escalating instances of acute and chronic diseases in the region are impelling the growth of medical bed market in Europe.
Prominent players of global medical bed market are Besco Medical, Antano Group, Gendron, GF Health Products, Getinge, Hard Manufacturing, Invacare Corporation, Hill-Rom Holdings, and Medline Industries.
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