LONDON, Dec. 24, 2018 (GLOBE NEWSWIRE) -- According to this latest publication from Meticulous Research®, the European medical / hospital beds market is expected to grow at a CAGR of 3.9% from 2018 to reach $1,102.0 million by 2024. The growth of this market will be driven by factors such as increasing elderly population coupled with growing prevalence of acute and chronic illness, and launch of technologically advanced beds providing utmost comfort and safety to the patient and caregivers. Moreover, emergence of smart beds and robotic beds and growing demand for beds for long-term care further drives the growth of this market.
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On the basis of area of use, homecare segment is expected to witness a rapid growth owing to the fact that aging population prefer being treated at home and it also greatly reduces the cost of care. Moreover, advances in the latest technologies like electronics, mechanics, and combination of electronics with mechanics (mechatronics) is driving the development of advanced medical equipment and devices including beds. These advancements enabled the inclusion of graphical interfaces, sensors, communication systems, and more to provide highly advanced beds suitable for homecare.
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On the basis of type of care, curative care segment commanded the largest share due to large number of patients being treated at healthcare facilities for various chronic and infectious diseases. There is a frequent outbreak of various infectious diseases (for instance -Tuberculosis, Dengue) which are driving the demand for curative treatment at healthcare facilities; adding to the requirement of beds for treatment of such patients.
On the basis of end user, hospitals commanded the largest share, while the homecare segment is expected to witness a rapid growth during the forecast period.
In European region, the U.K. will be the fastest growing regional market mainly due to government’s focus on improving the quality of healthcare.
The major players operating in the European medical/hospital beds market are Stryker Corporation, Hill-Rom Holding, Inc., Invacare Corporation, Getinge AB, Paramount Bed Holdings Co., Ltd., Medline Industries, Inc., Joh. Stiegelmeyer GmBH & Co. KG, Gendron Inc., LINET Group SE, Joerns Healthcare LLC., Span-America Medical Systems, Inc., Savion Industries, and Malvestio Spa.
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