At 5.4% of CAGR Medical Beds Market is reaching $5.7 Billion by 2027 with Top Industry Players - Medline Industries, Malvestio Spa, Invacare Corporation, Merivaara Corp., Paramount Bed, Amico Group
Chronic diseases, including diabetes, cancer, heart disease, and obesity, are the leading causes of death in the world and account for most of the nation’s health care costs.
According to the International Diabetes Federation (IDF), in 2017, number of people with diabetes in North America was approximately 46 million which is expected to grow at 62 million in 2045. The increase in the disease prevalence is around 35% during the forecast period.
According to report of CDC, in 2018, approximately more than 9% of the population has diabetes, which is the leading cause of kidney failure, lower-limb amputations in US. Moreover, the data also suggests that 1.5 million Americans are diagnosed with diabetes every year in the US. Similar trends for high presence of diabetes are prevalent around other geographies of the globe that include Asia Pacific, Europe, Middle East and Africa. For instance, according to IDF Diabetes Atlas published by the International Diabetes Federation in 2017, South-East Asia is home to approximately one-fifth (19%) of the total diabetes population worldwide.
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The elderly population is defined as a group of people aged 65 and over. The aging population is poised to become one of the most significant social transformations of the twenty-first century. According to the United Nations report, in 2017, globally, there were more than 962 million people aged 60 or over, that consists of 13% of the world population. The geriatric population aged 60 or above is growing at a rate of about 3 percent per year. Across the globe, the number of persons aged 80 or above is projected to triple by 2050. The approximate diabetes population is more than137 million in 2017, which is expected to grow up to 425 million in 2050. The number is expected to grow to 909 million in the year 2100, around seven times its value in 2017.
The elderly people are more likely to have chronic diseases such as osteoporosis, diabetes than younger people, and the effect of the disease on quality of life is particularly deep in this population. With an increase in the number of geriatric population, the prevalence of chronic diseases has increased. Therefore, the demand for medical beds are expected to increase in the forecast period.
Also, according to the World Health Organization in 2018, cancer was the second leading cause of death across the globe, and is responsible for an estimated 9.6 million deaths in 2018. Furthermore, the American Cancer Society estimated that in 2018, 1,735,350 new cancer cases were diagnosed in 2018.
Thus, the increasing prevalence of chronic diseases poses several opportunities for the medical beds market to grow during the forecast period.
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MEDICAL BEDS – MARKET SEGMENTATION
• By Usage
o Acute Care
o Long-Term Care
o Psychiatric & Bariatric Care
o Other Usage
• By Type
o Manual Beds
o Semi-Electric Beds
o Electric Beds
• By Application
o Intensive Care
o Non-Intensive Care
• By End User
o Elderly Care Facilities
o Nursing Home
o Home Care Settings
• North America
• Asia Pacific (APAC)
o South Korea
• Middle East & Africa (MEA)
o Saudi Arabia
o South Africa
• South America (SAM)
• Famed Żywiec Sp. z o.o.
• Medline Industries, Inc.
• Malvestio Spa
• Invacare Corporation
• Merivaara Corp.
• Paramount Bed Co., Ltd.
• Amico Group
• Gendron Inc.
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