Global Medical Bed Market is expected to grow at a CAGR of 5.8% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Medical Bed Market by Application (Intensive Care, Non-Intensive), Usage (Long Term Care, Acute Care, Maternity, Psychiatric Care), Type (Manual Bed, Electric Beds, Semi Electric Bed), End User (Home Care, Hospital, Elderly Care), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027.
The global medical bed market is expected to grow from USD 2.89 billion in 2019 to USD 4.55 billion by 2027, at a CAGR of 5.8% during the forecast period 2020-2027. North America is expected to dominate the market share and will also exhibit a high growth rate in the forecast period. The growth can be attributed to high consumer awareness regarding the diagnosis and treatment of the disease at an early stage, and massive investments in the technological upgradation of the healthcare sector. The presence of leading industry players in the region will also help the market in the region to grow. The Asia-Pacific region is also expected to register a high growth rate due to massive support by the government in the development of the healthcare sector of the country. Also, due to the large population in the region, the demand for medical beds is naturally higher and will grow with the increase in the incidence of chronic diseases.
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Some of the leading players of the market include Antano Group, Getinge, Gendron, GF Health Products, Besco Medical, Midmark, Hard Manufacturing, Invacare, and Hill-Rom Holdings. The companies are adopting strategies like new product launches, collaborations and mergers to increase their market share and gain new market opportunities.
This study delivers a comprehensive analysis of application, usage, type, end-use, and regions. On the basis of application, the market can be divided into intensive care and non-intensive care. The non-intensive care market is expected to dominate the market share and also account for the highest growth rate in the forecast period. The growth can be attributed to an increase in hospital-acquired pneumonia cases among adult patients. The intensive care market is also estimated to portray a significant growth rate with a high demand for intensive care services and less availability of the medical beds, thereby giving rise to the growth of the market. On the basis of usage, the segment can be divided into long term care, acute care, maternity, and psychiatric care. The acute care segment is expected to dominate the market and grow at a rapid pace due to its applications in various functions like treatment of illness and prevention of complications. The rise in the prevalence of chronic diseases in the elderly population is also expected to drive the growth rate of the segment. On the basis of the type of bed, the market can be divided into manual bed, electric beds, and semi-electric bed. The electric bed is expected to register the highest growth rate in the segment due to an increase in resident mobility and enabling the disabled patients to use the features of the bed efficiently and reduce long-term care burden. On the basis of end-user, the market can be divided into home care, hospital, and elderly care. The hospital segment dominates the market share and is expected to grow at a rapid pace due to a rise in the number of patients visiting hospitals and increasing incidence of diseases requiring surgical procedures.
Rising prevalence of elderly population prone to injuries, physical disabilities, acute and chronic diseases is expected to drive the market growth. The increasing incidences of chronic diseases globally will increase the demand for healthcare facilities. The rising investments by the government in the healthcare infrastructure and technological advancements in the sector is expected to fuel the market growth. The rise in the number of beds in private hospitals is also expected to contribute to the growth of the market. The high cost of medical bed and decrease in volume of beds in government hospitals will act as a restraint to market growth.
About the report:
The global medical bed market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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