ICU Beds Market 2024-2033: Trends, Analysis & Top Key Players Analysis

The icu beds market size has grown strongly in recent years. It will grow from $2.02 billion in 2023 to $2.15 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to aging population, technological advancements, healthcare infrastructure development, critical care demand.

The icu beds market size is expected to see strong growth in the next few years. It will grow to $2.9 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to ongoing healthcare infrastructure expansion, technological innovation, pandemic response and preparedness, chronic disease burden. Major trends in the forecast period include pandemic-driven demand, icu bed capacity expansion, technological advancements, patient comfort and safety.

Market Overview -
The intensive care unit (ICU) is a specialized ward of a hospital that provides special medical attention to patients who require critical medical care.

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Rising Covid-19 Drives Icu Beds Market Growth
The market for ICU beds is experiencing exponential growth. Increasing COVID-19 cases across the globe pressurizes governments of emerging and developed countries to increase their intensive care capacities. Public health systems releasing funds to procure the needed hospital infrastructure, with ICU beds being one of the important requirements.

Competitive Landscape -
Major companies operating in the icu beds market include Stryker Corporation, Hill-Rom Holdings Inc., Getinge AB, Invacare Corporation, Paramount Bed Holdings Co Ltd., Joerns Healthcare LLC, LINET Group SE, Stiegelmeyer GmbH & Co KG, Hebei Pukang Medical Instruments Co Ltd., Malvestio SpA, Umano Medical Inc., Favero Health Projects Ltd., Gendron Inc., Graham-Field Health Products Inc., Drive Medical Limited, Medline Industries Inc., Merivaara Corp, Span-America Medical Systems Inc., Savion Industries Ltd., Nitrocare Medical Bed, Haelvoet NV, Nexus Medical LLC, Proma Reha Ltd., Jiangsu Saikang Medical Equipment Co Ltd., Zhangjiagang Medi Medical Equipment Co Ltd., Antano Group S.R.L, Novum Medical Products Inc., Integrity Medical Solutions Inc., Missaglia SpA, Besco Medical Limited

High Cost Of Icu Beds Hinders The Market Growth
Critical care is often described as expensive care that includes high cost of resources. In United States, although ICU beds comprise less than 10% of hospital beds, ICU departments consume 22% of total hospital costs. ICU beds tend to cost threefold higher than a bed in a general ward. ICU beds cost between $25,000 and $30,000, significantly more than other medical/surgical beds, which typically cost $5,000 to $10,000 a bed. Bariatric beds are even more expensive, which are nearly about $35,000 to $40,000 each. The escalating demand for critical care services puts a financial strain on both healthcare systems, and also on patients who pay completely or partially out-of-pocket for these services. Therefore, high prices of ICU beds are challenging the growth of this market.

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Key Segments -
The icu beds market covered in this report is segmented -
1) By Type: Electric Beds, Semi-Electric Beds, Manual Beds
2) By Application: Pediatric Intensive Care Unit, Neonatal Intensive Care Unit, Psychiatric Intensive Care Unit, Cardiac Intensive Care Unit, Neurological Intensive Care Unit, Trauma Intensive Care Unit, Post-Operative Recovery Unit, Surgical Intensive Care Unit, Mobile Intensive Care Unit
3) By End Use: General And Acute Care Hospitals, Specialized Hospitals, Multi-Specialty Hospitals, Ambulatory Surgery Centres (ASC), Other End Uses

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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