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Medical Beds Market Analysis by Business Methodologies, Financial Overview and Growth Prospects Predicted by 2027

02-12-2024 03:45 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: The Insight Partners

Manual Medical Beds Segment to Lead Global Medical Beds Market During 2018-2027

According to our new research study on "Medical Beds Market Forecast to 2027 - COVID-19 Impact and Global Analysis - by Usage, Type, Application, and End User," the Medical Beds Market is expected to grow from US$ 3,580.52 million in 2018 to US$ 5,710.7 million by 2027; it is estimated to register a CAGR of 5.4% during 2019-2027. The growth of the market is attributed to some key driving factors such as rising geriatric population, increasing prevalence of chronic diseases such as diabetes & cancer, increasing number of hospitals, increased government investments, and technological advancements in medical devices.
Medical Beds Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Usage (Acute Care, Long-Term Care, Psychiatric & Bariatric Care, and Others), Type (Manual Beds, Semi-Electric Beds, and Electric Beds), Application (Intensive Care and Non- Intensive Care), and End User (Hospitals, Elderly Care Facilities, Nursing Homes and Home Care Settings)

Based on type, the medical beds market is segmented into manual beds, semi-electric beds, and electric beds. In 2018, the manual beds segment is accounted for the largest share. Manual medical beds are basic beds which are generally used to accommodate patients in general ward, hospitals, elderly care centers, nursing home, etc. Manual medical beds assist the patients who require basic medical treatment, clinical conditions where 1-2 days of medical treatment is sufficient to cure. Manual medical beds use hand mechanical shaft to raise bed or head or foot section. Such adjustment provide the basic required comfort for the patient. Manual hospital beds are cost effective solution for healthcare facilities in remote areas or rural places. They are just as reliable and versatile as electric beds and maintenance free. Global manual medical beds market takes the largest share in global medical beds market. The major factors driving the manual medical beds market are rising prevalence of chronic diseases, growing geriatric population, and increasing number of hospitals in rural and urban area, which further requires more manual beds to accommodate more patients.

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Electric medical beds are fully automatic beds which gives freedom to do complete bed movements without help of care giver. Electric motor is used in electric medical beds to raise the foot, head, and height of the bed. Electric medical beds also allow patient transfer to and from a bed easy and safe. With just a push of a button, adjustments needed for head, feet and height, can be made. Electric medical beds are generally used to accommodate patients in hospitals, elderly care centers, nursing home, and homecare. Electric medical beds assist the patients who require long-term care. Electric medical beds are expensive than semi-electric medical beds. The major factors driving the electric medical beds market are; rising prevalence of chronic diseases, growing geriatric population, rising demand from hospitals and increasing number of hospitals in rural and urban area.
The medical beds market, by application, is segment into intensive care and non-intensive care. The non-intensive care segment held a larger market share in 2019 and same segment is anticipated to register a higher CAGR during the forecast period. Non-intensive care medical beds are used in hospitals, nursing homes, elderly care centers, and homecare settings. They assist the patient during the general clinical conditions which can be cured in 1-2 days. Non-intensive care medical beds are manual, electric or semi-electric. Non-intensive care medical beds are purchased by hospitals, nursing homes, elderly care centers and homecare settings. The factors driving the non-intensive care medical beds market are; rising prevalence of chronic diseases, growing geriatric population, and increasing number of hospitals.
According to American Hospital Association, in 2019, there are total 6,210 hospitals present in US, equipped with 931,203 hospital beds.
Stryker, Famed Żywiec Sp. z o.o., Medline Industries, Inc., Malvestio Spa, Invacare Corporation, Merivaara Corp., Paramount Bed Co., Ltd., Amico Group, Linet, and Gendron Inc. are among the leading companies operating in the medical beds market.
Based on usage, the medical beds market is segmented into acute care, long-term care, psychiatric & bariatric care, and other usage medical beds. In 2018, the acute care medical beds segment is accounted for the largest share. Moreover, the same segment is estimated to register the highest CAGR in the market during the forecast period. Based on type, the medical beds market is segmented into manual beds, semi-electric beds, and electric beds. In 2018, the manual beds segment is accounted for the largest share. However, the electric beds segment is estimated to register the highest CAGR in the market during the forecast period. Based on application, the medical beds market is segmented into intensive care and non-intensive care. In 2018, the non-intensive care segment is accounted for the largest share. Moreover, the same segment is estimated to register the highest CAGR in the market during the forecast period. Based on end user, the medical beds market is segmented into hospitals, elderly care facilities, nursing home, and home care settings. The hospitals segment held the largest share of the market in 2018. However, the home care settings segment is estimated to register the highest CAGR in the market during the forecast period. By geography, the medical beds market is segmented into North America (US, Canada, and Mexico), Europe (France, Germany, UK, Spain, Italy, and Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and Rest of APAC), the Middle East & Africa (Saudi Arabia, UAE, South Africa, and Rest of MEA), and South & Central America (Brazil, Argentina, and Rest of South & Central America)

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About The Insight Partners

The Insight Partners is a one-stop industry research provider of actionable solutions. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are specialists in industries such as technology, media, food & beverages, chemicals & materials, and telecommunication.

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