Medical Bed Market share forecast to witness considerable growth from 2017 to 2024

The research report “Medical Bed Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Poland, China, India, Japan, Australia, Brazil, Mexico, South Africa, Saudi Arabia, Qatar, UAE), Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024”, by Global Market Insights, Inc. says Medical Bed Market size is projected to experience significant growth from 2017 to 2024.

Increasing prevalence of chronic disorders such as cancer, cardiovascular diseases, arthritis, kidney, respiratory and neurological disorders requiring long hospitalization duration will drive global medical bed market growth. Growing geriatric population will serve to be a high impact rendering factor due to higher susceptibility of acquiring chronic diseases. Moreover, the elderly population has a higher risk of injuries such as femur fracture from falls which require hospitalization and lead to need for long term care.

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Rising number of hospital admissions due to various accidents and fatalities requiring long term treatment and hospitalization will boost growth. Increasing investment in healthcare infrastructure coupled with growing number of beds in hospitals and homecare settings will fuel industry expansion. Technological advancements such as development of side split rails for protecting patients from falls, use of material such as polycarbonate for making the bed shatter, impact and corrosion resistant will further aid industry growth. However, high cost of products will impede the product growth to some extent. Increasing preference of minimally invasive procedures which require less time along with reduced hospital stay and recovery period may restrain growth during the forecast period.

Acute care products market is forecast to grow at robust rate by 2024. Multifunction applications of these products for managing labor, curing illness or providing definitive injury treatment, performing diagnostic or surgery procedures will boost demand. Electric beds permit the adjustment of both upper and lower body positions along with bed height adjustment via remote control. Increased comfort provided to patients suffering from problems such as poor mobility, chronic pain, swelling complaints, arthritis and respiratory disorders will stimulate product growth. However, high associated cost may restrict the growth to some extent.

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Usage of beds in homecare settings is poised to grow at a lucrative rate over the forecast period owing to increasing preference of receiving care at home. Reduction in time spent at hospital, higher comfort levels, involvement and support of family and friends in the treatment, higher level of personal independence and faster recovery provided through home healthcare will increase adoption.

Germany medical bed market will exhibit rapid growth due to increasing number of private hospitals. As per German Hospital Federation statistics, the number of private hospitals are increased by approximately 25 percent between 2004 to 2014. Growing number of hospital admission cases will fuel growth. Increasing number of surgical and therapeutic procedures such as coronary bypass will further propel demand.

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India medical bed market is slated to grow at a robust pace over the forecast timeframe owing to the presence of large patient pool consisting of elderly population and individuals suffering from chronic diseases. Improving healthcare infrastructure along with growing number of government and private hospitals will drive industry growth. For instance, in April 2016, Apollo Hospitals Group launched a new 250 bed healthcare facility in Vishakhapatnam offering multi-disciplinary high-end tertiary care. South Africa medical bed market presents a lucrative future opportunity owing to the developing healthcare infrastructure along with presence of large unmet needs.

Prominent industry players include Stryker, Getinge Group, Invacare, Hill-Rom, Medline Industries, and Paramount Bed. The industry players adopt various strategic initiative such as acquisitions and new product launch to strengthen their industry foot hold. For instance, in January 2015, Stryker acquired the assets of CHG Hospital Beds. The acquisition has bolstered Stryker’s product offerings. In November 2016, Sidhil launched innovative IQ ICU bed with new features such as X-ray translucent backrest, side spilt rails and easy clean tray for meeting the increasing high demands of hospital environment.
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