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
Medical Bed Market will exceed USD 4 billion by 2025; as per a new research report.
Increasing funding on healthcare infrastructure in developing countries will drive the medical bed market over the forecast period. Countries such as India, China, Qatar and others are taking efforts to enhance healthcare facilities and provide advanced healthcare services. For instance, India has lowest bed to population ratio amongst the BRICS countries. Hence, the government is taking measures through its National Rural Health Mission to overcome bed availability issues. Moreover, rising collaborative efforts in various countries such as Mexico, Brazil, Australia and India through public-private partnerships (PPPs) for infrastructure improvement, expansion and capacity development will further stimulate market size over the coming years.
Rising volume of hospital bed in private hospitals will accelerate medical bed industry growth over the forecast period. Growing prevalence of chronic conditions requiring long-term care specially for elderly patient pool will foster the need for advanced healthcare facilities, medical equipment and supplies thus, stimulating industry growth. Moreover, initiatives undertaken by government as well as private players to provide sophisticated infrastructure and treatment will further augment business growth. However, excessive cost of specialty bed may hamper the industry growth in certain developing and underdeveloped economies.
Long-term care bed segment is expected to witness more than 5% CAGR during the forecast timeframe. Long-term care bed is specifically used for patients with chronic ailments and requiring care for extended time period. Availability of fully functional motorized bed will further increase its adoption in the foreseeable future. Increasing geriatric population will act as a significant factor that will spur the long-term care bed revenue size.
Electric bed segment was valued more than USD 1.3 billion in 2018 owing to increasing use of electric bed in home care and hospitals. Electric bed provides conventional control techniques that minimize manual operations. These bed help disabled patients to operate electric bed by concentrating on the signs of a visual stimulus tablet in the system. Such advanced adjustable features associated with electric bed will augment segmental growth.
Non-intensive care segment held momentous revenue share of around 56% in 2018. Rising incidence of hospital-borne infections in non-intensive care units will augment the demand for medical bed. For instance, catheter associated urinary tract infection occurs in non-intensive care units. Thus, increasing hospital admissions for various infectious diseases will further drive the segmental growth.
Homecare settings segment accounted for more than USD 520 million in 2018. Homecare settings allow patients to receive personalized care in more comfortable manner. As a result, geriatric population often prefers homecare settings over hospitals, that includes wide range of social and medical services. Treatment in home care settings further reduces the risk of hospital acquired infections. Aforementioned benefits of home care settings are poised to accelerate industry growth during the forecast period.
Europe medical bed market will experience 2.3% CAGR over analysis timeframe. Growing investment in technology for providing better quality healthcare along with rising number of acute and chronic diseases in the region will drive European medical bed market growth. Moreover, rising elderly population base and well-developed healthcare infrastructure will positively impact regional business over the forecast period.
Some of the eminent industry players operational in Medical Bed market includes Antano Group, Besco Medical, Gendron, Getinge, GF Health Products, Hard Manufacturing, Hill-Rom Holdings, Invacare Corporation and Medline Industries. These industry players adopt strategies such as new product launch, acquisition, merger and geographic expansion to sustain market competition.
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