Global Medical Bed Market Growth Rate By End-User Application and Aggressive Landscape Analysis 2020-2026

Rapid rise in the number of elderly populations across the globe is anticipated to give global medical bed market share a substantial boost over the foreseeable future.

Developing economies are witnessing robust economic growth and making high healthcare expenditure, with governments engaging in significant measures to benefit private entities. In addition, rising awareness of the private hospitals regarding the focused care and hygienic services to enhance patient experiences will push the demand for medical bed for hospital and in turn, amplify overall industry expansion in the coming years.

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In the wake of the COVID-19 pandemic, several public hospitals are facing challenges due to the insufficient availability of new or extra beds. In order to combat this issue, rising inflow of hospital beds is observed in the developing economies. These aforementioned factors are likely to create ideal growth conditions for the medical bed market over the estimated timeline.

 

For example, in July 2020, DIAT (Defence Institute of Advanced Technology) in Pune developed a medical bed isolation system, ‘Aashray’, with an aim to curb the spread of the COVID-19 disease. The new low-cost, reusable system can ensure proper isolation of the infected patients by creating negative/suction pressure near exhale, thereby disinfecting and filtrating the aerosol.

 

As per Global Market Insights, Inc. estimates, the global medical bed market size is expected to surpass $30.5 billion by 2026.

 

Furthermore, escalating number of elderly people with chronic diseases as well as obese patients who require prolonged care are influencing the global market outlook. According to reliable statistics, people aged 60 years and above are likely to reach 2.1 billion in total by 2050,a hike from the 962 million recorded in 2017.

 

In terms of segmentation by product, the global medical bed market from the bariatric beds segment registered remuneration of $766 million in 2019, owing to the high prevalence of obesity and subsequent rise in bariatric surgical procedures. The segmental growth can further be credited to the growing risks of heart diseases and increasing health concerns across the globe.

 

Based on bed type, the semi-electric beds segment is poised to depict an 8.9% CAGR through 2026, which is attributable to its myriad usage benefits such as smooth operation, channel frame construction to ensure anatomically correct sleep surface, and electronic foot and head section adjust.

 

With regards to the application spectrum, the global medical bed market from the intensive care beds segment recorded revenue worth $772 million in 2019, due to the accelerating surgical procedures among the elderly patients with obesity, alongside high incidences of fatal accidents. Moreover, technological advancements and strong development of intensive care units in hospitals are likely to drive segmental growth.

 

In terms of segmentation by medical institution/facility, the private medical institution segment is set to exhibit a 9.3% CAGR through 2026, owing to the favorable reimbursement and insurance policies provided by these institutions.

 

With regards to the end-use spectrum, the global medical bed market from the elderly care facilities segment was valued at over $5,899 million in 2019, which can be attributed to the accelerating number of hospice care, long-term care, and adult day care of elderly patients. These factors have led to the installations of medical bed accessories in assisted living facilities, continuing care retirements, and nursing homes.

 

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On the regional front, the China medical bed market registered remuneration of above $5,703 million in 2019, driven by the high geriatric population base and rising government initiatives. Escalating healthcare expenditure and growing number of low-cost medical bed manufacturers will further augment market growth in the region.

 

Key medical bed market players include Hill-Rom Holdings, Invacare Corporation, HARD Manufacturing Company, Inc., GF Health Products, Inc., Getinge AB, Gendron Inc., Besco Medical, and Antano Group, among others. These key industry players are undertaking strategic measures such as M&A, business expansion, and innovative product launches to strengthen their footprint in the global market.

 

To illustrate, in February 2018, Paramount Bed launched a factory in Gurugram, Haryana. The facility development was geared towards the extensive delivery of healthcare products in the Indian market, especially hospital beds, as the existing number was unable to accommodate the rapidly rising healthcare demand in the region.

 

Browse key industry insights spread across 251 pages with 330 market data tables and 35 figures & charts from the report, Medical Bed Market in detail along with the table of contents:

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Report Content

Chapter 3   Medical Bed Industry Insights

3.1    Industry segmentation

3.2    Industry landscape, 2015 – 2026

3.3    Industry impact forces

3.3.1    Growth drivers

3.3.1.1    Rising geriatric population worldwide

3.3.1.2    Increasing funding on healthcare infrastructure in developing economies

3.3.1.3    Increasing hospital admissions due to chronic diseases

3.3.1.4    Rising volume of hospital beds in private hospitals in developing countries

3.3.2    Industry pitfalls & challenges

3.3.2.1    Excessive cost of specialty beds

3.3.2.2    Decreasing volume of beds in hospitals in developed regions

3.4    Growth potential analysis

3.4.1    By product

3.4.2    By bed type

3.4.3    By application

3.4.4    By medical institution/facility

3.4.5    By end-use

3.5    Regulatory landscape

3.5.1    U.S.

3.5.2    Europe

3.6    Technology landscape

3.7    COVID-19 impact analysis

3.7.1    Impact of COVID-19 on 10 major markets

3.7.1.1    Overview

3.7.1.2    U.S.

3.7.1.3    Germany

3.7.1.4    UK

3.7.1.5    France

3.7.1.6    Spain

3.7.1.7    Italy

3.7.1.8    China

3.7.1.9    India

3.7.1.10    Brazil

3.7.1.11    South Korea

3.7.2    Impact of COVID-19 on industry segments, by 10 major markets (2020)

3.7.2.1    Intensive care

3.7.2.2    Non-intensive care

3.7.3    Impact of COVID-19 on industry value chain

3.7.3.1    Research and development

3.7.3.2    Manufacturing

3.7.3.3    Marketing

3.7.3.4    Supply

3.7.4    Impact of COVID-19 on industry competition

3.7.4.1    Strategy

3.7.4.2    Distribution network

3.7.4.3    Product portfolio

3.7.4.4    Business growth

3.8    Global medical beds prices, by company, 2019 (USD)

3.9    Porter’s analysis

3.10    Competitive landscape, 2019

3.10.1    Competitive matrix analysis, 2019

3.11    PESTEL analysis

 

 

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