New York, Dec. 06, 2022 (GLOBE NEWSWIRE) -- The global medical beds market was worth US$ 12.2 Bn in 2021 and is expected to increase at a CAGR of 5.8% over the forecast period (2022-2032).
Recent technological and scientific developments have resulted in a vast array of new and updated medical devices that are equipped with highly advanced embedded controls and interaction. Medical beds have been notably impacted by this upsurge since the last decade of the 20th century, taking on new shapes and features while adjusting to persistent attributes that have come to be recognized for this equipment.
Over the past few decades, the market for medical beds has evolved in response to shifting structural, functional, and socioeconomic needs regarding the functionality of medical beds. From 2000 to date, these extremely complex mechatronic devices have come to be known as the smart beds segment, which refers to a thorough synthesis of new materials, design, and enhanced functioning and automation for such systems, everything under improved user interface design.
“As global disease burden rises, increased number of in-patient admissions necessitate a change in hospital capacity considerations to accommodate a bigger patient pool for comprehensive medical care, resulting in an increase in the demand for medical beds,” says an analyst of Persistence Market Research.
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Key Takeaways from Market Study
- Long-term care beds under product held 32.5% market share in 2021.
- Manual beds accounted for 41.4% of the global medical beds market share in 2021.
- Intensive care usage of medical beds held a market share of 50.8% in 2021.
- Hospitals held a dominant share of 37.3% in 2021, under end user, within the global medical beds market.
- Around 28.9% of the global market share, by region, was accounted for by North America in 2021.
Medical technology has progressed to the point where automated medical beds have superseded manual ones. These automated hospital beds include connectivity, transmission, tracking, and built-in alerts. Due to these developments in medical technology, medical equipment such as hospital beds have recently become quite popular in healthcare institutions, independent of location or nation.
The number of beds in each particular ward is a crucial factor in hospitals because it influences patient capacity while also generating revenue. As the global burden of disease rises, demand for maximum accessibility, high-quality treatments, and system-wide cost optimization of individual healthcare institutions for an effective healthcare system increases.
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Market Competition
The market for medical beds is extremely competitive. The industry space comprises several local, regional, as well as established players specializing in medical equipment, as well as several novel medical bed portfolios incorporated within their product range. Product innovations as well as new product launches are the key strategies being followed by market players.
Key instances include:
- Stryker announced the EMEA release of ProCuityTM, a fully wireless hospital bed, in February 2021.
- SFI Medical and Drive Medical teamed together in November 2022 to supply 700+ Beds to ShannexTM LTC Facilities.
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Persistence Market Research, a research and consulting firm, has published a revised market research report on the electric cargo bike market that contains a global industry analysis of 2017–2021 and an opportunity assessment for 2022–2032. The report provides in-depth analysis of the market through different segments, namely, product type, battery type, end use, and region.
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