Medical Bed Market Analysis

Medical Bed Market Analysis

Psychiatric care beds segment is anticipated to witness around 9.5% growth rate till 2026 led by the increasing prevalence of mental health disorders globally. Psychiatric patients suffering from schizophrenia need long-term care and the treatment of these patients is carried out in psychiatric hospitals in order to provide them specialized care in controlled environment.

In addition, rising number of psychiatric patients in the U.S. and UK has outnumbered the supply of psychiatric beds, thus resulting in maintaining a consistent demand for psychiatric care beds in the countries.

Manual medical bed market accounted for more than USD 4.96 billion in 2019 impelled by the lack of risk of motor failure, cost-effectiveness and user-friendly mechanisms in the manual beds. Manual beds are widely used in healthcare institutions of emerging economies where sophisticated healthcare facilities are not available.

Healthcare professionals are highly dependent on manual hospital beds in rural areas owing to the shortage of advanced medical facilities and low cost of manual beds. Manual bed provides several types of bed positions as per the patient’s needs with the help of hand cranks.

Intensive care medical beds market is estimated to attain a CAGR of 9.9% through 2026 driven by the enhanced and effective risk management, better comfort, design to support infection control, safety, user-friendly and efficiency in patient care provided by intensive care beds.

Increase in prevalence of chronic diseases such as diabetes and asthma, growing number of surgical procedures and rise in geriatric population are additional factors uplifting the demand for intensive care beds. The onset of coronavirus pandemic has further increased the number of intensive care bed installations.

Private medical institution segment crossed USD 10.94 billion revenue in 2019 on account of better hygiene and hospitality in private medical institutions/facilities. There is an increase in development of private facilities in the countries where public sectors work poorly. According to the National Center for Biotechnology Information (NCBI), about 45% of HIV patients in Africa prefer treatment in private medical facilities.

Availability of technologically advanced medical machines in private medical facilities/institutions has boost the number of patient admissions in private hospitals.

 Hospitals end-use segment in the medical bed market exceeded USD 9.39 billion in 2019 led by the high inflow of patients requiring surgery pertaining to chronic disorders. Growing incidence of accidents leading to fatal injuries has also impacted the need for medical beds. Moreover, increasing number of public hospitals to provide cost-effective treatment to patients has spurred the number of medical bed installation in hospitals.
 

The number of patients admissions in hospitals has increased due to the availability of large number of skilled medical professionals in hospitals, that has led to uplifting the demand for hospital beds.
 

Canada medical bed market will observe substantial growth of around 18.8% between 2020 and 2026 on account of the continuous increase in number of COVID-19 patients in Canada that has resulted in significant increase in hospital admissions for critical care. The substantial need for medical beds and critical care has in-turn augmented the industry growth.
 

Rising healthcare expenditure in the country has significantly uplifted the number of medical beds installations in the country. According to the Canadian Institute for Health Information (CIHI), the total healthcare expenditure in Canada was USD 264 billion in 2019.
 

France medical beds market is estimated to grow at 13.2% CAGR through 2026 propelled by the fully integrated network of public hospitals, private hospitals and other medical service providers that maintain a consistent demand for medical beds in the country. Rising healthcare expenditure and favorable reimbursement scenario in the country is leading to accommodation of better facilities in the hospitals. Growing elderly population and increasing patient population is also fostering the demand for medical beds in the country.