Press release
Medical Bed Market Report 2024 - Medical Bed Market Trends And Growth
Medical Bed Market
According to The Business Research Company's, The medical bed market size has grown strongly in recent years. It will grow from $3.82 billion in 2023 to $4.11 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to growing aging population, prevalence of chronic diseases, advancements in healthcare infrastructure, rising healthcare expenditure, bariatric patient care needs.
The medical bed market size is expected to see strong growth in the next few years. It will grow to $5.44 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to focus on patient safety and comfort, global pandemic preparedness, increasing surgical procedures, demographic shifts, rising incidence of lifestyle-related diseases.. Major trends in the forecast period include technological advancements, medical tourism, regulatory standards and compliance, innovations in materials, telemedicine adoption, holistic patient care approach.
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Market Drivers and Trends:
The rise in hospital admissions due to chronic diseases is expected to propel the growth of the medical bed market going forward. Various factors influence hospital admissions, including individual health, socio-economic factors, healthcare infrastructure, and public health measures. Medical beds are crucial in providing care and support to patients during hospital admissions. These beds enhance patient comfort, safety, and medical management. For instance, in September 2021, according to the Centers for Disease Control and Prevention, a US-based health agency, about 5.2% of emergency department visits made by adults with chronic conditions resulted in hospital admission, compared with 11.2% of visits made by those with one chronic condition, 18.3% of visits made by those with two, and 29.7% of visits made by those with three or more. The percentage of hospital admissions due to chronic diseases increased with age and the number of chronic conditions in the United States. Therefore, the rise in hospital admissions due to chronic diseases is driving the growth of the medical bed market.
Major companies operating in the medical bed market are developing innovative products, such as ProCuity, to serve patients better. ProCuity is designed to enhance patient safety, improve nurse workflow efficiencies, and help reduce in-hospital patient falls at all acuity levels. For instance, in February 2021, Stryker, a US-based medical technology company, launched the industry's first and only wholly wireless hospital bed, ProCuity. This intelligent bed reduces in-hospital patient falls, improves nurse workflow efficiencies and safety, and lowers hospital costs. It can connect seamlessly to nurse call systems without cables or wires. Stryker's ProCuity is a wireless hospital bed designed to enhance patient and caregiver safety, reduce in-hospital patient falls, and improve nurse workflow efficiencies and safety. The bed is set at a low height of 29.2 cm (11.5 inches) and is ergonomically designed with the latest technologies to promote safe patient handling.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Mediline Industries Inc., Stryker Corporation, Getinge AB, Arjo. , Paramount Bed Holdings Co., Invacare Corporation, Linet spol. s r.o., Favero Health Projects SpA, Joerns Healthcare LLC, Stiegelmeyer GmbH & Co. KG, Amico Group of Companies., GF Health Products Inc, Umano Medical inc, Merivaara , Malvestio SpA, Zhangjiagang Medi Medical Equipment, Gendron Inc., American Medical Equipment. , Antano Group srl, Besco Medical, Medical Depot Inc., Mobility Aids Sales and Services, ProBed Medical Technologies, Transfer Master Products Inc. , Anyang Top Medical Devices Co. Ltd.
Medical Bed Market 2024 Key Insights:
• The Medical Bed Market is expected to grow to$5.44 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%.
• Medical Bed Market Thrives on Growing Hospital Admissions Stemming from Chronic Diseases
• Stryker's ProCuity Wireless Hospital Bed Enhancing Patient Safety and Workflow Efficiencies
• North America was the largest region in the medical bed market in 2023.
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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