New York, USA, Sept. 12, 2022 (GLOBE NEWSWIRE) -- A latest report on the global intensive care beds market published by Research Dive sheds light on the impact of the COVID-19 pandemic on the current and future scope of the market. This report is a useful study material for stakeholders, investors, market participants, and new entrants in the search of comprehensive insights on the impact of COVID-19 pandemic on the market growth.
Key Highlights of the Report:
The COVID-19 pandemic has had a positive impact on the growth of the global market for intensive care beds in 2020. As per the report, the global intensive care beds market garnered $1,576.2 million in 2019 and is estimated to exceed $2,202.9 million, rising at a CAGR of 4.2% by 2027. In the present situation, the market size has surged owing to the growing demand for intensive care beds due rising occurrences of chronic disorders, especially among elderly people.
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Factors Boosting the Market Growth during the COVID-19 Crisis:
Increasing number of people suffering with chronic conditions and sever illness such as COVID-19 infection is fueling the demand for emergency medical response. During the pandemic, many people were admitted to hospitals, owing to which the need for intensive care beds also surged. Furthermore, leading intensive care bed manufacturers are investing in novel product launches to obtain a robust position in the global market in the COVID-19 pandemic.All these factors are boosting the growth of the global intensive care beds market.
Current Face of the Intensive Care Beds Market Due to COVID-19:
Before the outbreak of the pandemic, the intensive care beds market was estimated to garner $1,635.2 million in 2020. In the present situation, the market size has amplified and reached up to $1,652.1 million in 2020.
The rise in the market growth is mainly owing to the growing elderly population having chronic disorders and rising demand for intensive care bed from hospitals due to increasing cases of COVID-19 in the pandemic period. Market players are taking significant initiatives to develop advanced intensive care beds, which is expected to surge the market growth in the coming years.
Future Scope of the Intensive Care Beds Market:
According to the report, the global intensive care beds market is expected to undergo continuous growth even after the end of the COVID-19 pandemic, owing to growing partnerships, investments in R&D activities, and new developments in the market.
Some of the foremost players
- Invacare Corporation
- Hillrom
- Merivaara Corp.
- Medline Industries, Inc.
- Stryker
- Malvestio Spa
- Span America
- Getinge AB
- LINET
- Stiegelmeyer GmbH & Co. KG
are anticipated to come up with innovative developments and pave way for lucrative opportunities for the intensive care beds market growth in the upcoming years.
For instance, in July 2021, Cognizant, a leading technology firm, as a part of its Covid-19 response programme ‘Operation C3’, arranged a 50-bed Intensive Care Unit (ICU) at the Osmania General Hospital, one of the oldest hospitals in India.
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More about Intensive Care Beds Market:
A Comprehensive Guide to the Intensive Care Beds and Impact of Covid-19 on the Market
