Medical Beds Market worth $3.41 Billion by 2022
The report "Medical Bed Market Usage (Acute Care, Long Term Care, Psychiatric Care, Maternity), Application (Intensive Care, Non Intensive), Type (Electric Beds, Semi Electric Bed, Manual Bed), End User (Hospital, Home Care, Elderly Care) - Global Forecast to 2022" provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the medical beds market along with the estimates and forecasts of the revenue.
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The global medical beds market is projected to reach USD 3.41 Billion by 2022 from USD 2.59 Billion in 2017, growing at a CAGR of 5.6% during the forecast period (2017–2022).
Factors such as increasing investments in healthcare infrastructural development, technological innovations in ICU beds, increasing number of beds in private hospitals, and increasing volume of chronic care patients are expected to drive the growth of the medical beds market in the coming years. On the other hand, the declining number of beds in public hospitals may limit market growth to a certain extent. The growing trend of home care is expected to provide a wide range of opportunities to players in the market.
The medical beds market is segmented on the basis of type, application, end user, usage, and region. On the basis of usage, the medical beds market is segmented into acute care beds, psychiatric and bariatric care beds, long-term care beds, and others (maternity and rehabilitative beds). The acute care beds segment is expected to account for the largest share of the market in 2017. The demand for acute care beds is rising with the increasing number of elderly and disabled individuals which acts as a major factor driving the growth of this segment.
Based on type, the medical beds market is categorized into electric beds, semi-electric beds, and manual beds. The electric beds segment is estimated to account for the largest share of the market in 2017. The large share as well as the high growth of this segment can primarily be attributed to the growing number of patients requiring bariatric care as well as the rising geriatric population across the globe.
On the basis of application, the medical beds market is segmented into two categories intensive care and non-intensive care. Growth in the intensive care segment is primarily driven by the increasing demand for critical care beds owing to the growth in geriatric population.
Geographically, the market is segmented into North America, Europe, Asia-Pacific (APAC), and the Rest of the World (RoW). Europe is estimated to account for the largest share of the market in 2017. Factors such as the rising healthcare spending, technological advancements, and government support are driving the growth of the medical beds market in Europe. However, APAC is estimated to be the fastest-growing market for medical beds. This is due to the increasing elderly population and increasing manufacturing outsourcing in APAC countries by the major players.
Key players in the medical beds market include Stryker Corporation (U.S.), Hill-Rom Holding, Inc. (U.S.), Getinge Group (Sweden), and Invacare Corporation (U.S.).
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