Innovative Trends Steer Demand for Medical Bed during 2017 - 2022, reports Fact.MR study | Key Players - Stryker Corporation, Hill-Rom Holdings, Getinge AB, Invacare Corporation, Amico Corporation, Medline Industries, LINET spol. s r.o., Stiegelmeyer GmbH
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Technological advancements in terms of portability, utilities, cost-effectiveness and patient comfort have resulted into various innovations in medical beds such as adjustable side railings, automatic height adjustability, fiber-made body, and multi-storage facility. Population over 60 years old are more prone to spinal injuries, cancers, cardiac problems, and neurological disorders, as they have low immunity levels. Prevalence of aging population has surged over the past few years, leading toward increased incidences of hospitalization. Rising medical emergencies have compelled healthcare providers to be equipment-ready, in a bid to cater emergency situations. Hospitals and ambulatory surgical centers (ASCs) are buying medical supplies such as fully-automated beds for ensuring patient safety and comfort.
The healthcare sector is experiencing a paradigm shift from clinical- and hospital-based services toward home-based services, for people recovering from various types of injuries or surgeries. Governments and NGOs are taking initiatives for spreading awareness about homecare services. As healthcare services offered in hospitals involving long duration stays are expensive, the requirement for affordable healthcare services, including acute care and long-term care, is increasing. This is further encouraging manufacturers as well as suppliers in scaling up their productivity for the provision of electric medical beds and manual medical beds. The global market for hospital beds is highly competitive, characterized by presence of numerous vendors across the globe. The regional and international players have a broad geographic reach, along with a strong market penetration.
Europe will Dominate Global Medical Bed Market
The global medical bed market will continue to be dominated by Europe, in terms of revenues. The medical bed markets in Europe and Middle East & Africa (MEA) are poised to register similar CAGRs through 2022. North America will also remain lucrative in the global medical bed market, and is projected to register a relatively faster expansion through 2022.
Although electric beds will continue to be sought-after among products in the market, sales of semi-electric beds will exhibit the highest CAGR through 2022. Manual beds are anticipated to be comparatively less lucrative than electric beds and semi-electric beds over the forecast period.
Hospitals will Remain Largest End-users of Medical Bed
Hospitals are expected to remain the largest end-users of medical beds, with revenues projected to account for roughly three-fourth share of the market during 2017 to 2022. On the basis of application, attractiveness of non-intensive care is expected to remain unmatched over the forecast period.
Medical beds will find the highest usage in acute care, with sales estimated to reach nearly US$ 2,000 Mn by 2022-end. Medical beds will find the lowest usage in psychiatric and bariatric care during 2017 to 2022.
Leading players in the global medical bed market are focusing on offering innovative products and extensive services, with an aim of increasing and retaining trust of the end-users. With international players continuously concentrating on extension of their market footprint, regional vendors are finding it difficult to cope up with them in terms of financial resources, market reach, pricing, and quality. Fact.MR’s report has provided a list of companies contributing to growth of the medical bed market worldwide, which include Stryker Corporation, Hill-Rom Holdings, Inc., Getinge AB, Invacare Corporation, Amico Corporation, Medline Industries, Inc., LINET spol. s r.o., Stiegelmeyer GmbH & Co. KG, Span-America Medical Systems, Inc., and Merivaara Corp.
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