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ICU Beds Global Market Report 2024 Market Segments 2024-2033 | Size, Share And Insights
ICU Beds Global Market Report
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According to The Business Research Company's, 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.
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Market Drivers and Trends:
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.
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.
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.
Major Key Players of the Market:
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
ICU Beds Market 2024 Key Insights:
• 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%.
• Rising Covid-19 Drives Icu Beds Market Growth
• High Cost Of Icu Beds Hinders The Market Growth
• North America was the largest region in the ICU beds 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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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
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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