Pune, India, Sept. 18, 2023 (GLOBE NEWSWIRE) -- The electronic medical records (EMR) or electronic health records (EHR) that smart beds are connected to provide a wealth of medical information, including personal data like weight, body temperature, heartbeat, blood pressure, oxygen saturation, and other vital signs, medication, results of laboratory tests, allergies, and immunization status. Doctors can choose the best course of action for a patient based on pertinent information about their medical history, and nursing staff can help patients receive better care. The frequency and length of hospital stays have been rising along with the incidence of chronic diseases and the number of life-saving procedures. Additionally, the COVID-19 outbreak has increased the need for smart beds in hospitals around the world.
Smart Hospital Beds Market in terms of revenue was estimated to be worth $0.52 billion in 2022 and is poised to reach $1.49 billion by 2030, growing at a CAGR of 14% during 2022 to 2030 according to a new report published by The Insight Partners.
The global smart hospital beds market growth is driven by increasing prevalence of chronic diseases, the rising number of life-saving surgeries, and intensifying frequency as well as the duration of hospital stays.
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Browse Comprehensive TOC on "Smart Hospital Beds Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Patient Weight (Less than 70 lb, 70–150 lb, 150–400 lb, 400–500 lb, and Greater than 500 lb), Offering (Products & Accessories, Software & Solutions, and Patient Weight), Application (Fall Prevention, Pressure Injury Prevention, Patient Deterioration & Monitoring, and Others), End User (Hospitals, Clinics & Nursing Homes, Ambulatory Surgical Centers, Medical Laboratories, Long Term Care Centers, and Others), and Geography"
List of Tables - 111
List of Figures - 69
No. of Pages – 217
Global Smart Hospital Beds Market Scope:
| Report Coverage | Details |
| Market Size Value in | USD 0.52 Billion in 2022 |
| Market Size Value by | USD 1.49 Billion by 2030 |
| Growth rate | CAGR of 14% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
| Segments covered | Patient Weight, Offering, Application, End User, and Geography |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, South & Central America. |
| Country scope | Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States |
| Report coverage | Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends |
Developments in Healthcare Infrastructures and Growth Strategies by Smart Hospital Bed Providers Boost Smart Hospital Beds Market Growth:
The latest innovations or upgrades in products encourage healthcare facilities to adopt new technologies. Governments are putting efforts into enhancing their healthcare infrastructure by providing funds to build hospitals that are equipped with state-of-the-art technologies. A few of the latest developments by governments and companies in the smart hospital beds market are mentioned below.
• In February 2023, Stryker launched SmartMedic, the first ICU bed upgrade platform introduced in India, to enhance patient care and caregivers’ safety.
• In August 2022, Dozee partnered with Midmark India, one of the largest hospital bed manufacturers in South Asia, and launched a connected bed platform for non-ICU settings. The AI-powered contactless sensor from Dozee is integrated into the bed and is placed under the mattress to detect a patient's vital signs, including heart and respiration rates, temperature, oxygen saturation, and electrocardiogram (ECG). Additionally, it features an early warning system that warns healthcare professionals so they can act quickly.
• In February 2021, Hillrom acquired contact-free continuous monitoring technology from EarlySense for a value of US$ 30 million to strengthen its Centrella Smart+Bed designed to monitor heart and respiratory rates that are above 100 units per minute. The enablement by EarlySense technology allows Centrella Smart beds to send potential alerts to clinicians about the deterioration of patients’ health.
• In October 2020, the President of the UK affirmed to provide funding to 40 hospitals under the Health Infrastructure Plan (HIP) in the country. The President assigned funds of US$ 3 billion (£3.7 billion) for the first 40 hospitals to be built by 2030. In addition, 8 more schemes were committed to fund 48 more hospitals by 2030.
• In October 2020, Stryker launched its ProCurity, a fully wireless hospital bed. ProCurity is a smart bed designed ergonomically with a height of 11.5 inches to prevent or reduce in-hospital patient falls at all acuity levels. The beds have easy-to-use touchscreens and bed monitoring systems. The ProCurity smart beds are meant to improve the safety of patients, enhance the work efficiency of nursing staff, and lower the operating costs of hospitals. In February 2021, Stryker launched the safe, smart, and scalable ProCuity Bed Series, which is made available in 70 countries worldwide.
Global Smart Hospital Beds Market: Segmental Overview
The “Global Smart Hospital Beds Market” is segmented based on patient weight, offering, application, end user, and geography. The market, by patient weight, is further segmented into less than 70 lb, 70–150 lb, 150–400 lb, 400–500 lb, and greater than 500 lb. The 400 to 500 lb segment held the largest market share in 2022, and the same segment is anticipated to register the highest CAGR during the forecast period. Smart hospital beds with 400–500 lb weight capacity are modern nursing beds highly appropriate for recycling due to their adjustability features. The Advantage ReadyWide Bed Model offered by Span-America Medical Systems Inc. comes with Integrated Expansion and smart technologies, which enable hospital beds comprised advanced clinical and resident positioning. The product delivers an expanded safe working load (SWL) of 650 lb with the influx of features of the Standard (500 lb SWL) model.
The smart hospital beds market, by offering, is segmented into products & accessories, software & solutions, and services. The products & accessories segment held the largest market share in 2022. The services segment is anticipated to register the highest CAGR during the forecast period. Technological advancements are a major force that supports the launch of new and updated smart hospital beds enabled with highly developed embedded-control functions and interactivity. These beds are a comprehensive synthesis of three things: integrated solutions for patient care, assistance, and monitoring. Smart hospital bed products include wireless sensor networks (WSNs), offering a seamless and efficient solution to avoid the generation of bedsores in motion-impaired patients. Simple software (apps) with electronic intelligence has transformed smart hospital bed products into highly networked appliances.
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Based on end user, the smart hospital beds market is divided into hospitals, clinics & nursing homes, ambulatory surgical centers, medical laboratories, long-term care centers, and others. The hospitals segment held the largest market share in 2022. The clinics & nursing homes segment is anticipated to register the highest CAGR during the forecast period. Hospitals are complex organizations and institutes that provide healthcare to people by using specialized scientific equipment and a team of trained staff educated on the problems of modern medical science. Most surgeries are performed in hospitals and clinics as these facilities offer continuous patient care and monitoring. The rising prevalence of chronic diseases, growing geriatric population, and increasing number of hospitals and clinics primarily contribute to the growth of hospitals and clinics.
The US is the largest market for smart hospital beds in North America. The growth of the smart hospital beds market in the US is majorly driven by the increasing prevalence of chronic diseases such as diabetes and cancer, and lifestyle diseases such as obesity; rapid growth of the geriatric population; longer hospital stays after critical surgery procedures; availability of technologically advanced smart hospital beds; and favorable reimbursement policies. Patients suffering from chronic diseases such as cancer, cardiovascular diseases, immune deficiencies, multiple sclerosis, and rheumatoid arthritis need long-term monitoring and treatment. As a result, they may need to stay in hospitals for long periods. Smart beds gather information on the health status of patients and aid in statistical analysis. This results in increased efficiency and accurate diagnostics for healthcare providers and medical professionals while paving the way to reduce the number of hospital readmissions. Smart beds can create a network of connected devices, mechanical and digital gear, or people with unique identifiers, and they can rapidly transmit data to designated systems.
Global Smart Hospital Beds Market: Competitive Landscape
Hill-Rom Holdings Inc, Stryker Corp, B. Braun SE, Arjo AB, Invacare Corp, Paramount Bed Co Ltd, Linet Spl, Malvestio SpA, Stiegelmeyer GmbH & Co. KG, and Umano Medical Inc. are among the leading companies operating in the smart hospitals bed market. These players focus on expanding and diversifying their market presence and acquiring a novel customer base, tapping prevailing business opportunities in the smart hospital bed market.
Global Smart Hospital Beds Market - Key Industry Dynamics:
Drivers
- Increasing Investments in Healthcare Infrastructure and Advantages of Smart Beds.
- Upsurge in Geriatric Population
- Developments in Healthcare Infrastructures and Growth Strategies by Smart Hospital Bed Providers
Restraints
- Cybersecurity Risks and Recalls Associated with Smart Hospital Beds
Opportunities.
- Robotic Hospital Beds.
Key Future Trends
- Digitalization in Healthcare Systems.
Recent Developments:
In March 2023, Stryker announced the launch of the SmartMedic platform at the 29th Annual Conference of the Indian Society of Critical Care Medicine in Indore. SmartMedic is a patient care platform that enhances the capabilities of existing ICU beds in hospitals.
In November 2022, Linet Group acquired Pegasus Health Group, Sidney, to strengthen its presence in the Australian market by offering its full range of premium services to customers in New South Wales. LINET Group thus continues to widen its global sales network through such expansion strategies. Australia is an increasingly important market for the Linet Group due to its high-standard healthcare sector, which is considered quite comparable to the US.
Go through further research published by The Insight Partners:
Hospital Bed Market - Global Analysis and Forecast to 2028
Automated Hospital Beds Market - Global Analysis and Forecast to 2030
Medical Beds Market - Global Analysis and Forecast to 2027
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