Medical Beds Market Size
|Study Period||2018 - 2028|
|Base Year For Estimation||2022|
|Forecast Data Period||2023 - 2028|
|Fastest Growing Market||Asia Pacific|
|Largest Market||North America|
*Disclaimer: Major Players sorted in no particular order
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Medical Beds Market Analysis
The medical beds market is expected to register a CAGR of 5.8% over the forecast period.
The COVID-19 pandemic greatly increased hospitalization, which greatly increased the demand for hospital beds all around the world. Medical beds are a crucial component of any patient's care since they offer convenience, safety, inflection control, and risk management support. For instance, as per the study report published by Disaster Medicine and Public Health Preparedness in April 2021, given the severe COVID-19 cases in the Kingdom of Saudi Arabia, findings suggested the need for more hospital and ICU beds which increased the demand for medical beds and likely propel the market to grow during the pandemic period. However, as COVID-19 cases are decreasing the demand for medical beds is expected to be stable over the coming years.
The growing geriatric population and the rising burden of chronic diseases like cancers increase hospitalizations for treatment which is expected to fuel the market growth. For instance, as per the study published by Gastro Hep Advances in April 2022, the incidence of biliary tract cancer varied by nation, with Chile having the highest rate (14.35%) and Vietnam having the lowest rate (1.25%). Hence, the high burden of cancers increases the risk of hospitalizations and rise the demand for medical beds which is expected to drive the market to grow.
Moreover, technological advantages and the adoption of medical beds coupled with the growing number of hospitals are expected to boost market growth over the forecast period. For instance, in June 2022, International Finance Corporation partnered with private healthcare developer Egyptians for Health Care Services (EHCS) to support the construction and operation of CapitalMed, a sprawling medical hub on the outskirts of Cairo that will improve healthcare services in Egypt. The establishment of new medical hubs increases the need for medical beds which is expected to drive the market over the forecast period.
However, the high cost of medical beds and the decreasing number of beds in public hospitals are anticipated to hamper the market growth.
Medical Beds Market Trends
Manual Beds are Expected to Witness a Healthy Growth in the Market Over the Forecast Period
Manual medical beds are patient beds that use manual cranks to adjust the bed for the patient's comfort. Due to the lack of risk of motor failure, lower cost, and easy-to-use mechanisms manual medical beds are anticipated to boost the segment growth over the forecast period. In addition, the increasing burden of chronic diseases and the growing geriatric population are expected to boost the market growth over the study period.
According to the World Population Prospects 2022 by the United Nations DESA, 771 million people worldwide are estimated to be 65 or older in 2022. Furthermore, according to the same source, by 2030, there will be 994 million older people in the world, and by 2050, there will be around 1.6 billion elderly population. The growing geriatric population who are more prone to chronic diseases increases the risk for hospitalizations and is expected to boost the market to grow over the forecast period.
Furthermore, new collaborations and acquisitions among the market players increase the widespread distribution of products which is expected to drive the market to grow. For instance, in December 2021, Baxter International Inc completed the acquisition of smart hospital bed maker Hillrom. Thus, the collaborations and acquisitions of medtech organizations will share vision for transforming healthcare and advancing patient care worldwide which is expected to boost the market growth over the forecast period.
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North America is Expected to have Significant Market Share Over the Forecast Period
North America is expected to have a significant market share over the forecast period. The market growth is attributed to a well-established healthcare infrastructure, and the presence of key market players. Furthermore, the growing or high burden of cancer and other chronic diseases in the region is anticipated to fuel market growth. For instance, according to the American Cancer Society Cancer Facts & Figures 2023, the number of new cancer cases in the United States is estimated to be 1.96 million of which 1.01 million patients are predicted to be male and 0.95 million are female patients. This shows the high burden of cancers which increases the risk of hospitalizations and likely propel the market over the forecast period.
Moreover, the new contracts and partnerships in the region for the widespread distribution of medical beds are expected to boost the growth of the market over the study period. For instance, in November 2022, SFI Medical Equipment Solutions (SFI Medical) and Drive Medical entered a new contract with Shannex to provide and install over 700 hospital beds in active long-term care (LTC) facilities across Atlantic Canada and Ontario. This increases the healthcare services with hospital beds which are expected to boost the market over the forecast period.
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Medical Beds Industry Overview
The medical bed market is fragmented and highly competitive. Market players are focusing on new product launches, product innovations, and geographical expansion. The key market players operating in the market include Baxter International (Hillrom), Stryker Corporation, Invacare Corporation, PARAMOUNT BED CO., LTD., and Medline Industries, Inc. among others.
Medical Beds Market Leaders
PARAMOUNT BED CO., LTD.
Medline Industries, Inc.
Baxter International (Hillrom)
*Disclaimer: Major Players sorted in no particular order
Medical Beds Market News
- In February 2023, GMG Medical Equipment in San Diego is helping hospitals by providing commercial-grade medical beds for outpatient care and people coming out of the hospital.
- In August 2022, Dozee partnered with Midmark India to launch a connected bed platform for non-ICU settings. The connected bed is integrated with Dozee's AI-powered contactless sensor which is placed under a mattress to track a patient's vital parameters, including heart and respiratory rates, temperature, oxygen saturation, and ECG, among others.
Medical Beds Market Report - Table of Contents
1.1 Study Assumptions & Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Geriatric Population Coupled With Rising Prevalence of Chronic Diseases
4.2.2 Technological Advancements in Medical Beds
4.3 Market Restraints
4.3.1 High Cost of Medical Beds
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Type
5.1.1 Electric Medical Beds
5.1.2 Semi-Electric Medical Beds
5.1.3 Manual Medical Beds
5.2 By Usage
5.2.1 Longterm Care
5.2.2 Acute Care
5.3 By Application
5.3.1 Non-Intensive Care
5.3.2 Intensive Care
5.4 By End-User
5.5.1 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.5.4 Middle East and Africa
22.214.171.124 South Africa
126.96.36.199 Rest of Middle East and Africa
5.5.5 South America
188.8.131.52 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Baxter International (Hillrom)
6.1.2 Stryker Corporation
6.1.3 Invacare Corporation
6.1.4 PARAMOUNT BED CO., LTD.
6.1.5 Medline Industries, Inc.
6.1.6 Joh. Stiegelmeyer GmbH & Co. KG
6.1.7 Gendron Inc.
6.1.9 Joerns Healthcare LLC.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Medical Beds Market Research FAQs
What is the current Medical Beds Market size?
The Medical Beds Market is projected to register a CAGR of 5.8% during the forecast period (2023-2028).
Who are the key players in Medical Beds Market?
Stryker Corporation, Invacare Corporation, PARAMOUNT BED CO., LTD., Medline Industries, Inc. and Baxter International (Hillrom) are the major companies operating in the Medical Beds Market.
Which is the fastest growing region in Medical Beds Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).
Which region has the biggest share in Medical Beds Market?
In 2023, the North America accounts for the largest market share in the Medical Beds Market.
Medical Beds Industry Report
Statistics for the 2023 Medical Beds market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Medical Beds analysis includes a market forecast outlook to for 2023 to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.