The global medical bed market from the private medical institution segment is set to exhibit a 9.3% CAGR through 2026, owing to the favorable reimbursement and insurance policies provided by these institutions. Developing economies are witnessing robust economic growth and making high healthcare expenditure, with governments engaging in significant measures to benefit private entities. In addition, rising awareness of the private hospitals regarding the focused care and hygienic services to enhance patient experiences will push the demand for medical bed for hospital and in turn, amplify overall industry expansion in the coming years.
In the wake of the COVID-19 pandemic, several public hospitals are facing challenges due to the insufficient availability of new or extra beds. In order to combat this issue, rising inflow of hospital beds is observed in the developing economies. These aforementioned factors are likely to create ideal growth conditions for the medical bed market over the estimated timeline.
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In terms of segmentation by product, the global medical bed market from the bariatric beds segment registered remuneration of $766 million in 2019, owing to the high prevalence of obesity and subsequent rise in bariatric surgical procedures. The segmental growth can further be credited to the growing risks of heart diseases and increasing health concerns across the globe.
With regards to the application spectrum, the global medical bed market from the intensive care beds segment recorded revenue worth $772 million in 2019, due to the accelerating surgical procedures among the elderly patients with obesity, alongside high incidences of fatal accidents. Moreover, technological advancements and strong development of intensive care units in hospitals are likely to drive segmental growth.
With regards to the end-use spectrum, the global medical bed market from the elderly care facilities segment was valued at over $5,899 million in 2019, which can be attributed to the accelerating number of hospice care, long-term care, and adult day care of elderly patients. These factors have led to the installations of medical bed accessories in assisted living facilities, continuing care retirements, and nursing homes.
On the regional front, the China medical bed industry registered remuneration of above $5,703 million in 2019, driven by the high geriatric population base and rising government initiatives. Escalating healthcare expenditure and growing number of low-cost medical bed manufacturers will further augment market growth in the region.
Key medical bed industry players include Hill-Rom Holdings, Invacare Corporation, HARD Manufacturing Company, Inc., GF Health Products, Inc., Getinge AB, Gendron Inc., Besco Medical, and Antano Group, among others. These key industry players are undertaking strategic measures such as M&A, business expansion, and innovative product launches to strengthen their footprint in the global market.
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Partial Chapter of the Table of Content
Chapter 5 Medical Bed Market, By Bed Type
5.1 Key segment trends
5.2 Manual Beds
5.2.1 Market size, by region, 2015 – 2026 (USD Million)
5.3 Electric Beds
5.3.1 Market size, by region, 2015 – 2026 (USD Million)
5.4 Semi-electric Beds
5.4.1 Market size, by region, 2015 – 2026 (USD Million)
Chapter 6 Medical Bed Market, By Application
6.1 Key segment trends
6.2 Intensive Care
6.2.1 Market size, by region, 2015 – 2026 (USD Million)
6.3 Non-Intensive Care
6.3.1 Market size, by region, 2015 – 2026 (USD Million)
Chapter 7 Medical Bed Industry, By Medical Institutions/Facilities
7.1 Key segment trends
7.2 Private Medical Institutions
7.2.1 Market size, by region, 2015 – 2026 (USD Million)
7.3 Public Medical Institutions
7.3.1 Market size, by region, 2015 – 2026 (USD Million)
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