The Medical Bed Market refers to the global market for hospital beds and other specialized beds used in medical facilities, such as long-term care facilities, rehabilitation centers, and home healthcare settings. These beds are designed to provide comfort, safety, and convenience for patients, as well as support the healthcare professionals in their caregiving tasks.
The medical bed market has been witnessing significant growth in recent years due to several factors, including the increasing prevalence of chronic diseases, the aging population, and the rising demand for advanced healthcare infrastructure. The beds are essential for patient care and play a crucial role in improving patient outcomes and providing a conducive environment for medical interventions.
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Due to increased investments in medical infrastructure, it is anticipated that the market for hospital beds would grow from US$3.4 billion in 2022 to US$5.5 billion in 2032. The medical bed market is anticipated to expand at a 4.9% CAGR between 2022 and 2032.
Additionally, expanding player alliances will probably increase market size during the forecast period. In order to plan patient registrations and check-ins, AT&T established a cooperation with LifeMedID and Elo Self-Service Solutions in March 2020, further solidifying the company’s position in the market.
On the other hand, it is projected that the costs associated with medical beds and the penetration of fake items through online channel distribution will restrain market expansion. However, growing product innovation might offset the market-hurting factors and expand the market. The “ProCuity” smart bed from Stryker Corporation was introduced in October 2020. The latest sensors and features in the smart bed include Stryker’s Secure Connect Technology, which enables wireless connection of nurse call systems and smart patient monitoring.
Key Takeaways from the Market Study:
- By application, intensive care medical beds to dominate market, rising at a CAGR of 4.3% by 2032
- The medical bed market in the U.S is estimated to procure US$ 2 Billion by 2032
- Chinese medical bed market is expected to exhibit a CAGR of 4.4% during the forecast period
- Medical bed market in Japan is projected to secure US$ 325.4 Million during the forecast period.
- By type, the electric beds segment is anticipated to dominate the medical bed market at a CAGR of 4.5%
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“Growing initiatives by the government of various developing countries, rising number of hospitals, and increasing product launch are anticipated to play a significant role in developing the market during the forecast period,” says an FMI analyst.
Competition Analysis:
Players in the global medical bed market are implementing various strategies to enhance their market revenue and strengthen their position in the market. Mergers & acquisitions, partnerships, and agreements are some of the methods adopted.
Key players in the market include Hill-Rom Holding, Inc., Stryker Corporation, Getinge Group, Medline Industries, Inc., and Invacare Corporation. Recent developments in the industry are:
- In April 2022, Getinge, a Swedish medical technology company, announced an agreement to acquire 100% of the shares in FLUOPTICS SAS, a French leader in fluorescence imaging. The acquisition would enhance Getinge’s customer offering clinical decision support by offering safe and enhanced operating services.
- In February 2022, Stryker, a leading medical technology provider, announced that it had completed the acquisition of Vocera Communications, a renowned entity in digital care coordination and communication.
- In December 2021, Baxter International Inc., a renowned MedTech leader, announced that it had completed the acquisition of Hillrom. Reportedly, Baxter paid US$ 156 in cash for each outstanding share of Hillrom common stock for a purchase price of US$ 10.5 Billion. The acquisition aims to transform healthcare and improve patient care worldwide.
Key Segments Profiled in the Medical Bed Market Report
Medical Bed Market by Usage:
- Acute Care Medical Beds
- Psychiatric Care Medical Beds
- Long-Term Medical Beds
- Other Medical Beds
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Medical Bed Market by Application:
- Intensive Care Medical Beds
- Non-Intensive Care Medical Beds
Medical Bed Market by Type:
- Electric Medical Beds
- Semi-Electric Medical Beds
- Manual Medical Beds
Medical Bed Market by End-User:
- Medical Bed in Hospitals
- Medical Bed in Home Care Settings
- Medical Bed in Elderly Care Facilities
Medical Bed Market by Region:
- North America Medical Bed Market
- Latin America Medical Bed Market
- Europe Medical Bed Market
- Asia Pacific Medical Bed Market
- Middle East and Africa Medical Bed Market
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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