(PharmaNewsWire.Com, December 18, 2020 ) Healthcare infrastructural development is a key issue in most developed and developing countries. Increased investments in healthcare infrastructure also have a positive impact on the medical beds market. Increased investments lead to increased costs allocated for medical beds, which is an important factor driving market growth.
According to the new market research report by MarketsandMarkets, Medical bed market is expected to reach $3.41 billion by 2022 from $2.59 billion in 2017, at a CAGR of 5.6% during the forecast period.
Factors such as increasing investments in healthcare infrastructural development, technological innovations in ICU beds, increasing number of beds in private hospitals, and increasing volume of chronic care patients are expected to drive the growth of the medical beds market in the coming years.
The medical beds market is segmented on the basis of type, application, end user, usage, and region. On the basis of type, the medical beds market is segmented into— manual beds, semi-electric beds, and electric beds. The electric beds segment is expected to dominate the medical beds market in 2017. The growing obesity rate is the major factor driving the demand for electric beds, as these are essential medical equipment in bariatric care.
Based on usage, the medical beds market is segmented into major four categories— acute care, psychiatric care and bariatric care, long-term care, and other beds (maternity and rehabilitative beds). The long-term care segment is expected to have the fastest-growing market during the forecast period owing to the increasing number of patients requiring long-term care.
On the basis of end user, the medical beds market is segmented into home care settings, hospitals, elderly care facilities. The hospitals segment is expected to account for the largest share of the medical beds market in 2017. However, the home care settings segment is expected to have the fastest growth rate in the forecast period. This can be attributed to increasing government support to decrease the length of stay of patients inside hospitals.
Geographical growth scenario of Medical Bed Market :
Geographically, Europe is expected to account for the largest share of the global medical beds market in 2017, followed by North America. Compared to mature markets, the Asia-Pacific region is expected to grow at the highest CAGR in the forecast period. Growth in this regional segment is propelled by the growing healthcare infrastructure, rising number of contract manufacturing organizations (CMOs), and increasing number of bariatric population requiring care.
Major players operating in the Acute Care Market include Stryker Corporation (U.S.), Hill-Rom Holding, Inc. (U.S.), Getinge Group (Sweden), and Invacare Corporation (U.S.).
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