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Automated Hospital Beds Market Report 2024 - Market Share Analysis And Trends
Automated Hospital Beds Global Market Report 2024
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According to The Business Research Company's, The automated hospital beds market size has grown strongly in recent years. It will grow from $28.6 billion in 2023 to $30.9 billion in 2024 at a compound annual growth rate (CAGR) of 8%. The growth in the historic period can be attributed to a rise in the aging population, a rise in home healthcare services, a rise in the incidence rates of chronic disorders, a rise in telemedicine, increase in surgical procedures.
The automated hospital beds market size is expected to see strong growth in the next few years. It will grow to $42.34 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to the increasing number of accidents, growing emphasis on patient-centric care, growing geriatric population worldwide, rising healthcare expenditure, and increasing shift to home healthcare. Major trends in the forecast period include technological advancements, IoT integration, AI and machine learning, enhanced capabilities for remote monitoring, telemedicine integration, and integration of robotics to assist with patient transfers.
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Market Drivers and Trends:
The increasing number of road accidents is expected to propel the growth of the automated hospital bed market going forward. The rise in road accidents is due to increased traffic congestion, distracted driving due to mobile devices, inadequate infrastructure maintenance, and failure to adhere to traffic regulations. Automated hospital beds aid in accidents by enhancing patient care and safety through features such as adjustable height for more effortless patient transfer and treatment, automated positioning to prevent bedsores, and remote control for swift adjustments, ensuring timely medical attention and comfort. For instance, in May 2022, according to an estimate published by the National Highway Traffic Safety Administration (NHTSA), a US-based federal agency, the number of fatalities in motor vehicle traffic crashes increased by 10.5%, with an estimated 42,915 deaths in 2021 compared to 38,824 fatalities in 2020. Therefore, the increasing number of road accidents is driving the growth of the automated hospital bed market.
Major companies operating in the automated hospital beds market are developing next-generation intensive care unit (ICU) beds to enhance patient care and meet the growing demand for advanced medical technology. Next-generation ICU beds are advanced medical beds designed to improve patient outcomes and streamline care in intensive care units. For instance, in May 2023, Baxter International Inc., a US-based healthcare company, launched an advanced Hillrom Progressa+ bed for the ICU. Progressa+ is a cutting-edge hospital bed designed to enhance patient care and support recovery. It offers advanced pulmonary support with in-bed percussion, vibration, and continuous lateral rotation therapies to reduce complications from immobility. The bed also features improved access for intubation and procedures. Additionally, it aids early patient mobility with an integrated lift system and a one-button FullChair for safe and effortless patient movement, reducing the risk of clinician injury.
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Major Key Players of the Market:
Becton Dickinson and Company, Stryker Corporation, Malvestio SpA, Medline Industries Inc., Olympus Corporation, Coloplast A/S, Hill-Rom Holdings Inc., Arjo Huntleigh, Invacare Corporation, Paramount Bed Co. Ltd., Midmark India Pvt. Ltd., Linet spol. s.r.o., Joerns Healthcare LLC, Amico Corporation, Stiegelmeyer GmbH & Co. KG, Span-America Medical Systems Inc., Merivaara Corp., Howard Wright Limited, Haelvoet NV, Volker GmbH, Mespa, Gendron Inc., Besco Medical Ltd., Savion Industries
Automated Hospital Beds Market 2024 Key Insights:
• The automated hospital beds market size is expected to see strong growth in the next few years. It will grow to $42.34 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%.
• Impact Of Increasing Accidents On The Automated Hospital Bed Market
• Advancements In Next-Generation ICU Beds Are Innovating Patient Care And Recovery
• North America was the largest region in the automated hospital beds market in 2023
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