The global medical bed market is expected to rise at a CAGR of 3.06% from 2017 to 2023

The recent study on the global medical bed market covers an in-depth analysis of the market on the basis of type, end-user, and geography. The report also covers the country level analysis within the regions as well. Additionally, the report covers the key trends in the market along with drivers and restraints during the forecast period 2018-2023. According to the report titled “Global Medical Bed Market - Forecasts From 2018 to 2023”, the market is expected to increase from US$1.537 billion in 2017 to US$1.841 billion by 2023, showing a growth of 3.06% CAGR during the projected period. The report has segmented the global medical bed market by type (Manual, Semi-Electric, Full-Electric, Specialty Hospital Beds), end-user (Hospital, Home Care, Elderly Care), and geography (North America, South America, Europe, Middle East and Africa, Asia Pacific). Medical beds are the essential equipment in a hospital or a clinic, which are designed for providing safety and comfort to the patients undergoing treatment. Special importance has been given to the designing of medical beds according to the patient’s needs, thus have undergone many changes over a period of time. Advancements in technology, rising healthcare expenditures, growing aging population, the prevalence of chronic diseases worldwide are some of the factors driving the market growth during the forecast period. However, high-costs may be a restraining factor which may impede the growth of the global medical bed market in the coming years.

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Home healthcare is expected to foresee a growth at a breakthrough pace, an opportunity for the growth of the global medical bed market.

Home healthcare is a booming industry and is projected to increase during the forecast period and beyond. This will provide an opportunity for the global medical bed market to surge in the coming years as patients wish to find the comfort and safety of their homes and prefer to be with their family members. In addition, elderly people are less ambulatory, thus it is easier for them to receive treatment at home rather than visiting a hospital or clinic for treatments, boosting the demand for medical beds at homes further. Moreover, the home healthcare facility is cost-effective as well and avoids the chance of hospital readmissions. Thus, home healthcare medical beds help patients in providing every possible kind of facility emanating the market growth for medical beds in the future.

South America is expected to be the fastest growing market.

The South America medical bed market is expected to be the fastest growing region with a CAGR of 5.92% during the forecast period of 2017-2023. Medical tourism in Colombia is surging and the number of patients arriving from different regions for treatments is growing every year. Also, opportunities are being realized in Latin America where through public-private partnerships healthcare business is improving and Brazil, Chile, Peru, and Costa Rica are considered as major markets for healthcare space. In addition, growing demand for medical services with increasing personal income is creating demand for hospital beds along with other medical products in this region.

Some of the major players discussed in the reports are Stryker, Invacare Corporation, Amico Group of Companies, and Joh. Stiegelmeyer GmbH und Co. KG, among others.

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