Dublin, Dec. 04, 2020 (GLOBE NEWSWIRE) -- The "Hospital Beds - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
In a Healthcare Crisis of this Magnitude, the World Scrambles to Add Hospital Beds. Market to Reach $5.2 Billion by the Year 2027
With the global contagion exerting immense pressure on healthcare systems, hospital beds have become the most coveted commodity along with ventilators and personal protective equipment like face masks, protective gowns & gloves. As the second wave of daily infections continue to rise and create demand for isolation wards and ICU care, a massive upward revision of demand for hospital beds is inevitable. Against this backdrop, the global market is projected to reach US$5.2 billion by the year 2027, trailing a post COVID-19 CAGR of 3.8% over the analysis period 2020 through 2027.
The year 2020 will witness the highest spike in annual growth at approximately 20.8%. With the onset of community spread in most countries, infections are increasing among the vulnerable population groups like the elderly and people with comorbidities like lung diseases, hypertension, diabetes and cardiovascular diseases.
These Immunocompromised sections of the population are at a higher risk of developing respiratory complications and pneumonia which require hospitalization, ventilation and oxygen support. In nursing homes and assisted living centers, COVID-19 mortality rates can be as high as 25% to 55%. With hospital beds per 1,000 people being less than desirable in most countries, there is a high risk of hospitals running out of beds to treat the critically ill.
In a country with 2.8 beds per 1000 people, 60% of adults infected in 6 months will require over 800% of current hospital beds to be emptied or new beds to be added. The doubling rate in countries worldwide is cause for concern as a lower doubling rate will stress and overwhelm the healthcare system. As of the ist week of June 2020, the doubling rate of infections in India, USA, Russia, Mexico, South Africa, Germany, United Kingdom was recorded at 13.1, 43.2, 19.8, 17.5, 13.2, 51.1, 48.8 days respectively.
Hospitals worldwide are scrambling to add hospital beds and ICU capacity beyond their normal capacities. In the United States, and other worst hit countries across the world, there is growing focus on policy initiatives aimed at converting existing buildings into fully functioning hospitals. Hotels, schools, stadiums, parks, parking lots and public assembly spaces are being converted into temporary patient-care facilities to ease the pressure on mainline hospitals.
The market is also benefiting from increased government funding to expand public health systems and policy decisions to reimburse reforms. For instance, the sweeping healthcare changes in the US healthcare system to address patient surge caused by COVID-19 led to the implementation of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The Act allocated US$100 billion towards the establishment of a CARES Act Provider Relief Fund to support hospitals, other healthcare providers, and suppliers.
To bridge the gap between demand and supply, healthcare tech companies launch interactive data platforms and apps to analyze and monitor hospital bed capacity. For instance, Definitive Healthcare partnered with Esri to introduce an interactive data platform that provides information on the location and number of licensed beds, staffed beds, ICU beds, and total bed utilization rates in the US during the COVID-19 outbreak.
The need to add new hospital beds is especially critical for developing countries with less than adequate healthcare resources. India, the country with just 0.6 beds for every 1000 people, is already beginning to witness worrisome instances of preventable deaths due to shortages of available hospital beds. Lack of access to hospital beds can cripple timely care and treatment and in a pandemic of the current magnitude the ramifications can be devastating.
The world is in a race to boost hospital bed capacity to navigate the pandemic with minimal morality rates. Increasing hospital beds and throughput per bed remains the focus of healthcare systems across the world. Demand for hospital beds against this backdrop is spiraling as manufacturers scramble to ramp up production capacity. Laser-like focus is being shed on hospital supply chain issues, to ensure that supply of all critical care products, including ICU and med-surgical hospital beds, patient monitoring devices, and physical assessment tools and consumables meets the increased demand.
As the entire healthcare support system and value chain steps up to support COVID-19 response, hospital beds will witness growth in the coming years.
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of Covid-19 and a Looming Global Recession
- Impact on Healthcare Sector Remains Mixed
- Inexorable Rise in COVID-19 Cases Exhausts Supplies of Critical Medical Equipment and Hospital Beds
- Triaging: A Relevant Strategy to Address Resource Shortage
- With Governments Easing Lockdowns, Risk of Second Wave of COVID-19 Infections Looms Ahead
- Hospital Beds: A Critical Part of Patient Care Environment
- Outlook
- Emerging Markets Drive Future Growth Opportunities
- Factors Driving Growth by Bed type
- Factors Influencing Demand for Beds: (Rating on a 1-10 Scale)
- Electric Beds Witness Stronger Growth
- Hospital Bed Density Worldwide: A Review
- Need for New Hospital Constructions to Drive Demand
- Rising Incidence of Chronic Diseases and Global Pandemics Contribute to Demand
- Efficient and Cost-Effective Hospital Bed Design Continues to Gain R&D Focus
- Competitive Landscape
- Recent Market Activity
- World Brands
2. FOCUS ON SELECT PLAYERS
- Apothecaries Sundries Mfg. Co.
- AKS Aktuelle Krankenpflege Systeme GmbH
- Arjo AB
- Antano Group S.R.L.
- Amico Corporation
- A.A. Medical
- Advanced Instrumentations
- AHF
- Apex Health Care
- Bakare Beds, Ltd.
3. MARKET TRENDS & DRIVERS
- Surging Cases of COVID-19 Galvanize Demand for Smart Hospital Beds
- Smart Beds Bring in a Transition to Healthcare Standards
- Players Focus on Advanced Technologies for Improved Functionalities
- Select Innovations
- Progressive Mobility: A Growing Area of Focus in Bed Design
- Safety Features Gain Significance in Bed Designing
- Focus Grows on Beds Designed for Home Care
- Manufacturers Focus on Designing Beds with Additional Features for Bariatric Patients
- Birthing Beds Equipped with New Features to Ensure Safe and Easy Delivery
- Rise in HAPU Incidence Results in Growing Emphasis on Pressure Relief Beds
- Medical Tourism Offers Growth Opportunities in Emerging Markets
- Growing Focus on Outpatient Care to Impact Bed Demand
- Stylish and Adjustable Beds: An Evolving Area of Interest
- Rise in Preference for Support Surface Versatility
- Impact of Healthcare Expenditure on Market Growth
- Burgeoning Geriatric Population Demand Greater Clinical Care
- Growth in Obesity Numbers Drive Demand for Bariatric Beds
- Increase in Birth Rate and Pediatric Population Offers Opportunities
- PRODUCT OVERVIEW
- Medical Beds
- Types of Beds
- Manual Beds
- Semi-Electric Beds
- Electric Beds
- On the Basis of Specialty Functions
- General Purpose Beds
- Birthing Beds
- Pediatric Beds
- Bariatric Beds
- Pressure-Relief Beds
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
- GEOGRAPHIC MARKET ANALYSIS
IV. COMPETITION
- Total Companies Profiled: 118
For more information about this report visit https://www.researchandmarkets.com/r/wi9cmg
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