The Medical Bed Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Medical Bed Global Market Report 2024, The medical bed market size has grown strongly in recent years. It will grow from $3.82 billion in 2023 to $4.11 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to growing aging population, prevalence of chronic diseases, advancements in healthcare infrastructure, rising healthcare expenditure, bariatric patient care needs.
The medical bed market size is expected to see strong growth in the next few years. It will grow to $5.44 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to focus on patient safety and comfort, global pandemic preparedness, increasing surgical procedures, demographic shifts, rising incidence of lifestyle-related diseases.. Major trends in the forecast period include technological advancements, medical tourism, regulatory standards and compliance, innovations in materials, telemedicine adoption, holistic patient care approach.
The rise in hospital admissions due to chronic diseases is expected to propel the growth of the medical bed market going forward. Various factors influence hospital admissions, including individual health, socio-economic factors, healthcare infrastructure, and public health measures. Medical beds are crucial in providing care and support to patients during hospital admissions. These beds enhance patient comfort, safety, and medical management. For instance, in September 2021, according to the Centers for Disease Control and Prevention, a US-based health agency, about 5.2% of emergency department visits made by adults with chronic conditions resulted in hospital admission, compared with 11.2% of visits made by those with one chronic condition, 18.3% of visits made by those with two, and 29.7% of visits made by those with three or more. The percentage of hospital admissions due to chronic diseases increased with age and the number of chronic conditions in the United States. Therefore, the rise in hospital admissions due to chronic diseases is driving the growth of the medical bed market.
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The medical bed market covered in this report is segmented –
1) By Type: Electric Medical Beds, Semi Electric Medical Beds, Mannual Medical Beds
2) By Usage: Intensive Care, Non-intensive Care
3) By End-user: Hospitals, Home Care Settings, Rehabilitation Centers, Other End-Users
Major companies operating in the medical bed market are developing innovative products, such as ProCuity, to serve patients better. ProCuity is designed to enhance patient safety, improve nurse workflow efficiencies, and help reduce in-hospital patient falls at all acuity levels. For instance, in February 2021, Stryker, a US-based medical technology company, launched the industry’s first and only wholly wireless hospital bed, ProCuity. This intelligent bed reduces in-hospital patient falls, improves nurse workflow efficiencies and safety, and lowers hospital costs. It can connect seamlessly to nurse call systems without cables or wires. Stryker’s ProCuity is a wireless hospital bed designed to enhance patient and caregiver safety, reduce in-hospital patient falls, and improve nurse workflow efficiencies and safety. The bed is set at a low height of 29.2 cm (11.5 inches) and is ergonomically designed with the latest technologies to promote safe patient handling.
The medical bed market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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