Medical Bed Market Size By Product (Acute Care Beds, Long-term Care Beds, Psychiatric Care Beds, Bariatric Beds, Others), By Bed Type (Manual Beds, Electric Beds, Semi-electric Beds), 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, Italy, Spain, Russia, Poland, China, India, Japan, Australia, Brazil, Mexico, South Africa, Saudi Arabia, Qatar, UAE), Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024
Published Date: Dec 2017 | 150 Pages | Report ID: GMI1883 | Authors: Sumant Ugalmugale, Shradha Mupid Report Format: PDF
Medical Bed Market size was valued at USD 2.7 billion in 2016 and is expected to witness more than 5.5% CAGR from 2017 to 2024.
Germany Medical Bed Market, By Product, 2013 – 2024 (USD Million)
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Rising elderly patient base suffering from chronic ailments along with increasing disability levels worldwide will drive global medical bed market size. These elderly patient pool are more susceptible to falls, injuries and physical disabilities which fuels the need for durable medical equipment such as hospital beds for their routine activities.
Rising collaborative efforts between government and private organizations through public-private partnerships (PPPs) in various developing countries such as Australia, India, Brazil for the infrastructure improvement, expansion and capacity development will stimulate industry growth in the future.
Increasing burden of chronic disease including cardiovascular diseases, diabetes, cancer, stroke, chronic respiratory disorders will increase the number of hospital admissions for proper and effective treatment of patients escalating business growth.
Rising number of hospital beds by the private entities in the developing countries including India will spur market size. Excessive cost associated with specialty medical beds along with decreasing volume of beds in public hospitals will restrain industry growth over the forecast years.
Medical Bed Market, By Product
Acute care beds accounted for largest market share in 2016 and is anticipated to witness robust growth over the forecast period. Increasing usage of acute care beds for treating elderly patient base suffering from life-threatening injuries along with multifunctional applications for curing illness, managing labour and protection against complications will accelerate its market share.
Long-term care beds will experience substantial growth over the forecast timeframe as these products are ideal for use by older population requiring long-term care due to various chronic conditions. These are majorly used as homecare power beds generating high demand from rising patient pool.
Medical Bed Market, By Type
Electric beds held the largest revenue share in 2016 and will show a similar trend in the future. Features offered by electric beds such as increased comfort provided to patients suffering from problems of poor mobility, chronic pain along with their ability to control the electric bed through visual impetuses will generate high demand in the coming few years.
Medical Bed Market, By Application
Increasing emergency cases and escalating incidences of accidents will foster demand for intensive care beds in the future. Rising focus on better patient throughput, maximum flexibility of bed placement, improvement in appropriate bed use and access to intensive care beds will propel intensive care segment growth in the future.
Medical Bed Market, By End-use
Hospitals will be leading segment in 2016 and is projected to witness robust growth in the coming years owing to increasing patient visits and rising number of surgical procedures that occur in hospitals propelling demand for beds in the future. Home care settings will experience substantial growth over the forecast years due to cost-effective and convenience mode of care offered to patients at their homes reducing the need for hospitalization.
Medical Bed Market, By Region
Germany will lead the global medical bed market in terms for revenue share in 2016, and is expected to witness considerable growth over the forecast period. Rising number of baby boomers aged 60 years and above susceptible to chronic heart diseases and other ailments along with escalating number of private hospitals in the country providing advance care should strongly drive regional business growth.
U.S. will drive North America market in 2016 due to high demand from older patients suffering from entrapment and fall injuries along with favourable regulatory support in the country. Hospital Bed Safety Workgroup (HBSW) formed by government, federal agencies, patient advocacy groups & hospital bed representatives to ensure the safety and performance of medical beds for patients with risk of entrapment will propel industry expansion.
China will drive the Asia Pacific regional growth owing to rapid increase in the prevalence of obesity due to westernization of lifestyle and diet patterns in the country. Rapidly growing healthcare expenditure along with advancement in hospitals and hospital reforms in the developing countries will augment industry size.
Competitive Market Share
Some of the leading players operating in global medical bed market are Invacare Corporation, Hill-Rom Holdings, Getinge Group, Paramount Bed and Stryker Corporation. Industry players are focused on innovative product launch along with merger and acquisition to strengthen their market position. For instance, in 2016, Getinge launched Citadel Plus Bariatric System which offers advanced care to plus size patients and their caregivers.
Medical Bed Industry Background
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The medical bed industry is highly consolidated due to presence of big market players grasping majority of the market share and offering wide range of bed frames used in different healthcare settings. The dominant players are also focusing on developing novel products in the future to enhance their market position. Collaborative efforts of government and private hospitals for increasing funding for developing healthcare infrastructure will further accelerate industry growth during the forecast period.
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