Therapeutic Support Surface Market Forecast and CAGR
According to the latest research by Fact.MR, Therapeutic Support Surface market is set to witness a 6.2% growth during the year 2021-2031.
The Therapeutic Support Surface market is expected to witness growth owing to rising awareness among customers regarding health and wellness, noteworthy growth of the medical sector because of innovation, and growing specially-abled and geriatric population.
In addition, the introduction of technological advancements on the ground of cost-effectiveness portability, utilities, and patient comfort is expected to boost the Therapeutic Support Surface market growth.
What is Driving Demand for Therapeutic Support Surface?
The increase in the occurrence of medical emergencies and hospitalization worldwide is boosting the Therapeutic Support Surface market growth. The rising geriatric population affected by chronic diseases is resulting into rising in the number of hospital admissions.
The growing geriatric population globally will majorly boost the therapeutic support surface market expansion through 2031. As per the published report, the old age population is increasing at a rate of 2.6% every year, globally.
With the constant growth in the geriatric population, the occurrence of injuries and chronic disorders among the geriatric population have grown leading to increasing the interest in medical beds. The health of geriatric patients declines with aging and prompts the user for long-term care beds.
Moreover, growing funding on healthcare infrastructure is leading to the development of advanced infrastructure well-equipped and well-furnished in the hospitals.
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Increasing Incidences of Pressure Ulcer Cases likely to boost Therapeutic Support Surface Sales
The increasing incidences of pressure ulcer cases are boosting the global therapeutic support surface market. A pressure ulcer is a common difficulty for patients undertaking post-surgery treatment or long-term treatment. They rise because of a lack of prolonged resting on the bed and mobility.
The increasing incidence of pressure ulcer cases boosts the demand for therapeutic beds because it helps in reducing the risk of additional complications associated with pressure ulcers and provides relief from pressure sores.
The surge in obesity has led to the pervasiveness of the bariatric patient population showing a positive impact on the global therapeutic support surface market. Therapeutic beds help in releasing bodily pressure and improve the capability to handle and move an obese patient.
Hence, the increasing occurrence of pressure ulcer cases together with the pervasiveness of the bariatric patient population will boost the therapeutic support surface market growth over the forecast period.
US and Canada Therapeutic Support Surface Market Outlook
The US dominates the global therapeutic Support Surface market during the forecast period, due to the presence of a well-built reimbursement network, government funding, the availability of well-built primary, secondary, tertiary care hospitals, and high private and public expenditure in the hospital's sector.
According to the U.S. Bureau of Labor Statistics, personal care aides and home health aides have increased to 13.0 million in 2020 (70.0% rise from 2010), thus boosting the interest for therapeutic beds at-home care.
As the treatment costs are lower at home than in other settings, most of the patients are currently favoring home healthcare, as a result rising the interest for therapeutic beds in these facilities.
Canada's therapeutic support surface market will observe considerable growth owing to the constant rise in the number of COVID-19 patients in Canada that has led to the significant rise in hospital admissions for critical care. The large need for critical care and medical beds has in turn boosted the industry's growth.
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Europe Demand Outlook for Therapeutic Support Surface
Europe is expected to be the second most lucrative region for the Therapeutic Support Surface market. This may be attributed to widespread public funding in the healthcare industry, which assists bring health settings such as primary care centers and hospitals. Additionally, the increasing prevalence of different chronic diseases in Europe, favorable reimbursement policies, and sophisticated healthcare facilities have resulted in an increased hospital admission rate that in turn is anticipated to drive the Therapeutic Support Surface market sales in this region.
Who are the Key Manufacturers and Suppliers of Therapeutic Support Surface?
Some of the leading manufacturers and suppliers of Therapeutic Support Surface include
- Antano Group
- Besco Medical
- GF Health Products Inc.
- Gendron Inc.
- Getinge AB
- HARD Manufacturing Company Inc.
- Hill-Rom Holdings
- Invacare Corporation
- Stryker Corporation
- BaKare Beds Ltd.
This industry is dynamic and is supported by widespread R&D initiatives. Some top market players are leading the market, which describes the oligopolistic nature of the Therapeutic Support Surface market. New product development and launches help organizations with increasing their current product portfolio and geographical reach.
Key manufacturers provide a wide range of advanced products via their solid distribution channels across the globe. It has led to extreme competition between producers and resulted in extreme tension on the sales strategies of sellers, which is expected to influence the overall revenue.
An Adaptive Approach to Modern-day Research Needs
Therapeutic Support Surface Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
- Therapeutic Mattresses
- Mattress Overlays
- Bariatric Beds
- Specialty Bed Systems
- Manual Beds
- Semi-electric Beds
- Electric Beds
- Critical Care
- Acute Care
- Long Term
By End User
- Ambulatory Surgical Centers
- Home Care Settings
- Elderly Care Settings
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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