Medical Bed Market revenue to cross USD 30.5 Bn by 2026: Global Market Insights, Inc.

Private medical institution segment in the medical bed market is projected to expand at more than 9.3% CAGR during 2020 - 2026 driven by the development of private hospitals and diagnostic centers.

Selbyville, Delaware, Nov. 12, 2020 (GLOBE NEWSWIRE) --

According to latest report “Medical Bed Market by Product (Acute Care Beds, Long-term Care Beds, Psychiatric Care Beds, Bariatric Beds), Bed Type (Manual Beds, Electric Beds, Semi-electric Beds), Application (Intensive Care, Non-intensive Care), Medical Institution/Facility (Private Medical Institutions, Public Medical Institutions), End-use (Hospitals, Home Care Settings, Elderly Care Facilities), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of medical bed will cross $30.5 billion by 2026.

Increasing number of hospital beds in private hospitals in developing countries will enhance the market growth. Currently, developing countries are witnessing a substantial progression in economies owing to rise in healthcare expenditure resulting in improved private healthcare facilities. The government in these countries are engaged in launching measures benefitting the private entities. Growing awareness pertaining to the provisions by the private hospitals such as hygienic services and focused care along with improved patient experience is also increasing the demand for medical beds in private hospitals. The chances of accommodation for extra or new medical beds in public hospitals are minimal due to the onset of COVID-19 pandemic. Therefore, to combat this issue, there is an increasing inflow of medical beds in private hospitals in the developing countries.

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Growing aging population suffering from chronic conditions along with the rising number of obese patients worldwide requiring prolonged care will fuel the medical bed market expansion. According to the United Nations statistics, the population aged 60 years and above is estimated to increase to 2.1 billion in 2050 from 962 million in 2017, across the globe. Additionally, approximately 85% of older patients have at least one chronic health condition. Therefore, older population having weak immune system and suffering with chronic disorders such has cardiac disorders and diabetes require effective acute care in hospitals or elderly care facilities.

Bariatric beds segment valued at more than USD 766 million in 2019 led by the growing prevalence of obesity leading to an increase in number of bariatric surgical procedures. Rising health concerns among the obese population and growing risks of heart diseases have encouraged people to adopt bariatric surgery.

Semi-electric medical bed market is anticipated to witness around 8.9% growth rate till 2026 impelled by the advantages such as smooth operation, electronic head and foot section adjust, and channel frame construction providing superior strength for anatomically correct sleep surface. Semi-electric bed assists the patients in positioning of upper body and knees.

Intensive care application in the medical bed market exceeded USD 772 million in 2019 driven by increase in surgical procedures along with bariatric surgeries in older patients suffering from obesity as well as increase in incidences of fatal accidents. Technological advancements in intensive care unit beds have also augmented the demand for medical beds. Growing number of intensive care units in hospitals in the developing countries has also boosted the adoption of intensive care beds.

The medical bed market for private medical institution is poised to attain a CAGR of over 9.3% through 2026 propelled by the development of private hospitals and diagnostic centers. Private hospitals also provide favorable reimbursement scenarios and several insurance policies leading to increased preference for private medical institutions by the population.

Elderly care facilities segment in the medical bed market accounted for around USD 5.89 billion in 2019 owing to the increase in number of adult day care, long-term care and hospice care of elderly patients. Therefore, there is a rise in number of installations for medical beds by nursing homes, continuing care retirement communities and assisted living facilities. Rapidly growing geriatric population suffering from chronic diseases will further spur the demand for medical beds by the elderly care facilities.

China medical bed market size was more than USD 5.70 billion in 2019 on account of the growing geriatric population base, rapidly increasing number of hospitals along with rise in number of government initiatives for research and development. Rising number of low-cost manufacturers of medical beds in the country is also expanding the regional growth. Growing healthcare expenditure for development of healthcare facilities has also influenced the demand for medical beds. Furthermore, the ongoing pandemic has further elevated the need and adoption of medical beds in the country.

Some of the major players operating in medical bed market are Antano Group, Besco Medical, Gendron Inc., Getinge AB, GF Health Products, Inc., HARD Manufacturing Company, Inc., Invacare Corporation and Hill-Rom Holdings among others. These companies are undertaking strategic acquisitions, mergers, collaborations and partnerships in order to launch new products and strengthen their industrial position. Also, the major leaders are also focusing on meeting the demand for medical beds required for the treatment of COVID-19 patients.

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Table of Contents (ToC) of the report:

Chapter 3   Medical Bed Market Insights

3.1    Industry segmentation

3.2    Industry landscape, 2015 – 2026

3.3    Industry impact forces

3.3.1    Growth drivers

3.3.2    Industry pitfalls & challenges

3.4    Growth potential analysis

3.5    Regulatory landscape

3.6    Technology landscape

3.7    COVID-19 impact analysis

3.7.1    Impact of COVID-19 on 10 major markets

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

3.7.3    Impact of COVID-19 on industry value chain

3.7.4    Impact of COVID-19 on industry competition

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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About Global Market Insights, Inc.

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.


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