Rising Popularity of Homecare Expected to Drive Sales of Medical Beds Over the Decade: Fact.MR
Published : 09 Nov 2021 Industry: Healthcare
Revenue generated from medical bed sales in 2020 totaled a net worth of US$ 3.8 Bn, which is expected to rise by a further US$ 1.7 Bn over the course of the next ten years. The aforementioned data is analyzed in a recently updated industry survey by Fact.MR, a market research, and competitive intelligence provider. Analysts at Fact.MR also predict the market to progress at a steady CAGR of 3.7% through 2031.
Hospitalization saw an immense boost with the onset of the COVID-19 pandemic, and this majorly influenced demand for medical beds across the globe. Medical beds are an essential aspect of treatment of any patient as they provide comfort, safety, inflection control, and aid in risk management.
Demand for medical beds from hospitals is prominent, but popularity of homecare services is expected to substantially increase over the decade, and this would create a new demand pocket for medical beds. Increasing geriatric population, rising medical emergencies, and high prevalence of chronic diseases are some of the major factors that are driving demand for medical beds across geographies.
Key Takeaways from Market Study
- The global medical beds market is anticipated to rise at CAGR of 3.7% over the forecast period (2021 to 2031).
- Sales revenue from the global market is expected to be approximately US$ 5.5 Bn by 2031-end.
- Market in the APAC region is expected to rise at the fastest CAGR over the next ten years.
- The global market net worth was around US$ 3.8 Bn in 2020.
- Rising geriatric population, technological advancements, and increasing demand from various institutions are some of the major factors propelling the market.
“Increasing technological proliferation in the healthcare industry is anticipated to majorly shape the progress of the market for medical beds,” says a Fact.MR analyst.
Some of the key manufacturers of medical beds, such as Stryker Corporation, Hill-Rom Holdings Inc., Getinge AB, Invacare Corporation, Amico Corporation, Medline Industries Inc., LINET spol. s r.o., Stiegelmeyer GmbH & Co. KG, Span-America Medical Systems Inc., Merivaara Corp., etc., have been profiled in this market study.
- In June 2021, RegeneratOR Test Bed was officially launched. This bed was launched and developed with an initiative to drive the regenerative medicine field. This new bed combines various technologies such as artificial intelligence and machine learning to provide optimized solutions to patients.
- In March 2020, Hillrom, a leading name in the medical equipment and device manufacturing industry, announced that it would increasing the production capacity of critical care products such as hospital beds and ventilators. This announcement was made as coronavirus infections were peaking and a shortage of essential medical equipment was seen across the world.
More Valuable Insights Available
This global medical beds survey provides a detailed assessment while providing with the data for historic period (2016-2020) and also predictive insights for the forecast period of 2021-2031.
The report defines the medical beds market in terms of segments to make it comprehensive and effective. The segmentation is on the basis of product type (electric beds, semi-electric beds, and manual beds), end user (hospitals, ASCs, and other facilities), application (intensive care and non-intensive care), and usage (acute care, long-term care, psychiatric and bariatric care, and others), across six major regions of the world (North America, Latin America, Europe, Japan, APEJ, and MEA).
Fact.MR’s Domain Knowledge in Healthcare
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Industrial team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over a thousand reports and 1 million-plus data points, the team has analyzed healthcare industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
For more information, refer to our market research report or contact the PR author.
Shambhu Nath Jha
Sr. Consultant – Healthcare