Intensive Care Beds Market Projections 2026 | Stryker, Hill-Rom Holdings, Getinge, Invacare, Medline, Malvestio, Stiegelmeyer, Merivaara
Rising prevalence of COVID-19 cases and subsequent global efforts toward eradicating the increasing cases of coronavirus infection have stimulated the need for intensive care beds globally. According to GMI report, intensive care beds market is estimated to witness a tremendous growth over the forthcoming years on account of elevating product demand. The daunting situation of coronavirus outbreak has raised serious doubts regarding the level and preparedness of critical-care facilities around different countries, especially pertaining to the total ICU bed capacity in the hospitals.
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With number of COVID-19 cases increasing exponentially, the supply chain of intensive care equipment is witnessing immense pressure of the product demand. In order to ease this pressure and cater to accelerating demand, various industry players are scaling up their production capabilities, with numerous non-industry participants also venturing into intensive care beds industry.
Based on a mid-February study by the Chinese Center for Disease Control and Prevention, majority of coronavirus cases were segmented as mild to a certain point, with 13.8% severe cases and 4.7% cases being critical, thus enunciating the need for intensive care beds.
Electric beds segment was valued at over USD 760 million in 2019 and is expected to observe a remarkable growth over the projected timeframe. The growth can be attributed to the product’s potential benefits such as ease of usage and ability to be self-managed. Further it also helps in shifting the patients and providing them suitable positions by raising and lowering the bed position electrically.
Moreover, the manufacturers are focused on building technologically enhanced products in order to improve their product offering and gain a competitive edge in the market. For instance, in 2017, Hill-Rom, one of the prominent industry players in the market launched a new electric bed solution Hill-Rom® Centrella™ Smart+. As claimed by the company, the product offers enhanced patient satisfaction, optimized patient safety and advanced caregiver-focused technology. Apparently, the product launch helped the company strengthen its product portfolio and gain a strong foothold in the market.
General ICUs segment had recorded a value of USD 700 million in 2019 and is estimated to grow at over 3.5% through the forecast timeframe. With regards to current pandemic situation, several countries are inclined on increasing the number of intensive care beds across the General ICUs to take care of the patients with severe condition. Thereby, proliferating the product demand.
The manufacturers are also increasing their production capacities to meet the rising demand. For instance, in April 2020, Joerns Healthcare announced doubling the production of its healthcare beds and mattress to support the caregivers and customers to meet the needs of COVID-19 patients. Reportedly, this move will help the company support the U.S. healthcare system facing shortage of resources.
Ambulatory surgical centers segment was valued at USD 500 million in 2019 and is projected to show similar growth trends over the analysis period. Given the present situation of pandemic, governments are inclined on increasing the hospital capacities in order to accommodate maximum patients.
For instance, in the U.S. the Centers for Medicare & Medicaid Services (CMS) has issued a sweeping regulatory change in March 2020 to ensure that local hospitals and healthcare facilities provide the capacity to accommodate and effectively manage rising number of COVID-19 patients. As a part of this initiative, Ambulatory Surgery Centers can be used for providing treatment to these patients during emergency, while other
Considering this scenario, the demand for intensive care beds in the Ambulatory Surgery Centers is likely to propel and will significantly drive the segmental growth.
Latin America intensive care beds market recorded a valuation of USD 152 million in 2019 and is expected to depict a growth rate of more than 8.5% over the forecast timeline owing to rapidly increasing demand due to surging cases of COVID-19. Reportedly, in New Mexico the government has doubled the number of intensive care beds due to rising number of corona infected patients. Besides, the country is also witnessing several cases of trauma such as car accidents, bike accidents and other such incidences.
Speaking of Middle East and Africa, intensive care beds market in the region was valued at over USD 108 million in 2019 and is projected to expand at a notable CAGR of more than 6% through the analysis timeframe.
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Partial Chapter of the Table of Content
Chapter 4. Intensive Care Beds Market, By Product
4.1. Key segment trends
4.2. Electric Beds
4.2.1. Market size, by region, 2015 – 2026 (USD Million)
4.2.2. Market size, by region, 2015 – 2026 (Units)
4.3. Manual Beds
4.3.1. Market size, by region, 2015 – 2026 (USD Million)
4.3.2. Market size, by region, 2015 – 2026 (Units)
4.4. Other Beds
4.4.1. Market size, by region, 2015 – 2026 (USD Million)
4.4.2. Market size, by region, 2015 – 2026 (Units)
Chapter 5. Intensive Care Beds Market, By Application
5.1. Key segment trends
5.2. General ICUs
5.2.1. Market size, by region, 2015 – 2026 (USD Million)
5.2.2. Market size, by region, 2015 – 2026 (Units)
5.3. Specialized ICUs
5.3.1. Market size, by region, 2015 – 2026 (USD Million)
5.3.2. Market size, by region, 2015 – 2026 (Units)
5.4. Pediatric and Neonatal ICUs
5.4.1. Market size, by region, 2015 – 2026 (USD Million)
5.4.2. Market size, by region, 2015 – 2026 (Units)
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