The medical beds market was valued at US$ 3,580.52 million in 2018 and it is projected to reach US$ 5,710.7 million in 2027; it is expected to grow at a CAGR of 5.4% from 2019 to 2027.
The medical beds market was valued at US$ 3,580.52 million in 2018 and it is projected to reach US$ 5,710.7 million in 2027; it is expected to grow at a CAGR of 5.4% from 2019 to 2027.
Medical beds/ hospital beds are specially designed for patients in order to provide more comfort and better healthcare for better recovery. Medical beds have special attributes that provide the comfort and well-being of the patient, and it also gives convenience to the health care workers. Some of the basic features medical beds provide are, adjustable height for the head, and the feet, adjustable side rails, and electronic buttons to operate both the bed and other nearby electronic devices such as fan, AC, TV, etc. Medical beds are used in hospitals, elderly care facilities, nursing homes, assisted living facilities, outpatient clinics, ambulatory care center, and home health care. The growth of the global medical beds market is attributed to the rising geriatric population, increasing prevalence of chronic diseases such as diabetes & cancer, increasing number of hospitals and growing public private partnership in healthcare industry. However, high cost associated with specialty beds and reduction in the average length of hospital stay are the major factor hindering the market growth.
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Medical beds market Segmentation:
- In terms of usage, the global medical beds market is segmented into acute care, long-term care, psychiatric & bariatric care, and other usage medical beds. In 2017, the acute care medical beds segment held largest share of the market. Also, the same segment is estimated to register the highest CAGR during the forecast period.
- Based on type, the global medical beds market is segmented into manual beds, semi-electric beds, and electric beds. The manual beds segment held the largest market share in 2017. However, the electric beds segment is estimated to grow at the highest CAGR during the forecast period.
- Based on application, the global medical beds market is segmented into intensive care and non-intensive care. The non-intensive care segment held the largest market share in 2017. Also, the same segment is estimated to grow at the highest CAGR during the forecast period.
- In terms of end user, the global medical beds market is segmented into hospitals, elderly care facilities, nursing home, and home care settings. The hospitals segment held the largest share of the market in 2017. However, the home care settings segment is estimated to grow at the highest CAGR during the forecast period.
- Some of the prominent players operating in market are, Stryker, Famed ?ywiec Sp. z o.o., Medline Industries, Inc., Malvestio Spa, Invacare Corporation, Merivaara Corp., Paramount Bed Co., Ltd., Amico Group, Linet, and Gendron Inc.. The market players are focused towards bringing new and innovative products to sustain their position in the market. For instance, in August 2017, LINET has planned to launch its new hospital bed product, Eleganza 5, in Brussels at the international congress ISICEM 2017. The new bed provide the better comfort and safety to the patient in order to get quicker recovery from the illness.
Increasing Prevalence of Chronic Diseases to Drive Global Medical Beds Market Growth
Medical beds are one of the essential items used in hospitals, nursing homes, and medical beds can also be used at home too. Medical beds include acute care beds, long term care beds, psychiatric beds, pregnancy beds, etc. Thus rising prevalence of chronic diseases like CVD, cancer, diabetes, and others drive the Medical Beds Market growth.
Diabetes is one of the largest global health epidemic of the 21st century. Each year more and more people live with this condition, which can result in life-changing complications. According to the International Diabetes Federation (IDF), in 2017, a number of people with diabetes in North America were approximately 46 million, which is expected to grow at 62 million in 2045. The increase in disease prevalence is around 35% during the forecast period.
Also, according to the World Health Organization in 2018, cancer was the second leading cause of death across the globe and is responsible for an estimated 9.6 million deaths in 2018. Furthermore, the American Cancer Society estimated that in 2018, 1,735,350 new cancer cases were diagnosed in 2018.
Thus, the increasing prevalence of chronic diseases poses several opportunities for the Medical Beds Market to grow during the forecast period.
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