New York, USA, April 27, 2023 (GLOBE NEWSWIRE) -- Smart Medical Beds Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Smart Medical Beds Market Information by Product, Application, End User, Distribution Channel and Region Forecast till 2030”, the market size was valued at USD 2.78 billion in 2022 and is projected to grow from USD 2.97 Billion in 2023 to USD 4.74 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.91% during the forecast period (2023 - 2030).
Market Scope:
"smart hospitals" refers to comprehensive, multidisciplinary design approaches that are integrated with patient care monitoring and support solutions. Innovative technological characteristics that improve user comfort and positively affect health are integrated into smart beds. These beds feature cutting-edge technologies that enhance comfort, health, and sleep. Along with connectivity for smart homes, the features include automatic mattress adjustment, sleep tracking, temperature controls, an anti-snoring feature, and IoT. These attributes enhance overall sleep quality and work with the user's sleep schedule. Smart hospital beds are the main pieces of hospital equipment that help patients. These cutting-edge, intelligent hospital beds can be connected to electronic medical and health records.
This enables the medical professionals and nursing staff to review the patient's medical history and decide on the most appropriate treatment. Additionally, cutting-edge products in the global market for smart hospital beds can provide essential data about patient statistics, such as heartbeats, medication histories, blood and oxygen levels, and body temperatures. In addition, these products on the global market for smart hospital beds can show details about a patient's allergies, immunization status, and lab and diagnostic test results history. All of this enables medical professionals to provide better patient care. Smart hospital beds help patients so doctors can perform thorough examinations, provide appropriate treatment, and offer other medical amenities.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 4.74 billion |
| CAGR | 6.91% (2023-2030) |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2021 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, Application, End User and Distribution Channel |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing incidences of multimorbidity and rising geriatric population |
| Growing number of surgical procedures is driving up demand for smart beds |
Smart Medical Beds Market Competitive Landscape:
The focal companies in the smart medical beds market are:
- Stryker (US)
- AMICO GROUP OF COMPANIES (US)
- Favero Health Projects Spa (Italy)
- GF Health Products, Inc. (US)
- PARAMOUNT BED CO., LTD. (Japan)
- LINET (Czechia)
- Baxter International, Inc. (US)
- Joerns Healthcare LLC (US)
- Arjo (Sweden)
- Invacare Corporation (US)
Smart Medical Beds Market Trends:
Market Drivers:
The main cause of multimorbidity is demographic change, and as per research, this trend will be continuously growing. Furthermore, multimorbidity has become more prevalent in the geriatric population over time. In the elderly population, some common multimorbidity include respiratory disease, hypertension, heart disease, and cerebrovascular disease. The popularity of smart home appliances and technology is growing, and rising consumer interest in these products is boosting household consumption. The requirement for these types of beds is being fueled by the capacity of smart beds to deliver accurate information on the quality of sleep and the convenience of pairing with mobile phones and other gadgets. The market for healthcare smart beds is also expected to grow as a result of the rising costs of healthcare. Additionally, it is predicted that a shift in patient preferences and a rise in the demand for cutting-edge medical facilities will restrain the market's growth for healthcare smart beds. Major manufacturers are concentrating on delivering the newest product portfolio with high inbuilt technology and feature to engage a wider audience.
Market Restraints:
The reputation of a brand or business under which the item is sold can suffer if products are manufactured and sold under various trademarks. False goods can be sold through distribution channels by counterfeiters, which will influence customer demands and lower product demand. On the other hand, the market for healthcare smart beds is anticipated to grow slowly over the timeline due to a price increase.
COVID 19 Analysis
The COVID-19 pandemic has had an unprecedented and staggering global impact, and smart bed products have positively impacted every region. This greatly impacted major companies' product revenues. Furthermore, during the pandemic, the product consumption rate was significantly hampered by the closure of retail stores and electronics companies and shortages in the raw material supply. However, a change in purchasing behavior is being noticed, exhibiting an involvement in online channels as more people spend their time indoors. The market might experience a positive trend in its growth due to increased sales revenue through online channels. The lockdown constraints will also cause consumers to focus more on their health, comfort, and personal care indoors, increasing demand for smart home furnishings like smart beds. When the pandemic is over, this market's demand and growth will resume to pre-pandemic levels, which explains the abrupt increase in CAGR.
Browse In-depth Market Research Report (128 Pages) on Smart Medical Beds: https://www.marketresearchfuture.com/reports/smart-medical-beds-market-11474
Smart Medical Beds Market Segmentation
The market segmentation of smart medical beds based on product type includes electric, semi-electric, and wireless beds. The industry for smart medical beds has been divided into three groups based on the end user: hospitals and clinics and ambulatory surgical centers. The smart medical beds market has been divided into online and brick-and-mortar stores based on the distribution channel. The smart medical beds market segmentation based on application includes acute care, long-term care, bariatric, pediatric, and other applications.
Smart Medical Beds Market Regional Insights
Regarding revenue, North America has recently held the top spot in the worldwide market for smart hospital beds. Increasing demand for these cutting-edge products from both long-term and acute care facilities in the region and rising demand for continuous patient health monitoring in a non-invasive way are some of the main factors contributing to the leading positioning of the North American smart hospital beds market. During the forecast period, the market for healthcare smart beds will continue to expand due to improved patient safety provided by the automatic real-time data transfer over wireless networks that enables medical teams to review and monitor patients' vitals instantaneously.
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Due to the aging population's increased demand for better healthcare, Europe is predicted to experience significant growth in the market for healthcare smart beds. Additionally, the presence of numerous major players in the area and the early adoption of technologically cutting-edge medical tools and equipment by local hospitals and doctors are promoting the growth of the North American worldwide hospital beds market.
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