Fact.MR’s latest study provides a detailed analysis of the micro and macro-economic factors affecting the growth in the medical beds market. It offers refined sales projections for the market across various segments in terms of product type, end use, application, and usage for the forthcoming decade.
Fact.MR – A Market Research and Competitive Intelligence Provider: As per the latest study published by Fact.MR, the global medical beds market is projected to surpass US$ 3.8 Bn in 2021. Increasing demand for advanced medical equipment to improve patient care in hospitals, ambulatory surgery centers, and others healthcare settings is favoring the sales in the market. Driven by this, the medical beds market is anticipated to total US$ 5.5 Bn by the end of 2031.
An exponential surge in the demand for hospital beds was reported following outbreak of the novel coronavirus. Government initiatives undertaken to offer improved patient care during COVID-19 have helped in the growth of the medical beds sales.
According to a report by the Defense Research & Development Organization (DRDO), the Indian Government announced setting up 900 beds dedicated to specialized COVID-19 care hospitals across Gujarat in April 2021. Several other initiatives were undertaken globally to accommodate the soaring number of COVID-19 patients and ascertain the best medical care.
As governments and healthcare organizations took upon making healthcare accessible to those infected, the medical beds market witnessed a spurt in the demand. However, this trend has slowed down following vaccination drives aimed at curbing the spread of the novel coronavirus.
Nonetheless, Fact.MR projects the demand for medical beds to continue rising amidst increasing patient pool of diseases such as cancer, coronary artery diseases, and lower respiratory infections. In addition to this, long hospital stays for intensive care patients are anticipated to spur the sales of medical beds at 3.7% CAGR over the forecast period 2021-2031.
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Based on product type, the semi-electric bed segment is projected to dominate the market, accounting for more than 1/3rd of the sales through 2031. Primary factors driving growth in the segment include the high adjustability, mobility, cost-effectiveness, and compatibility attributes of semi-electric beds compared to conventional medical beds. ICU beds market witnessed proliferating growth with the covid-19 outbreak. Furthermore, maternity beds market is also gaining significant traction.
“As demand for improved patient care grows, hospitals and healthcare sectors are investing in smart technologies. This also has created lucrative prospects for medical beds manufacturers to invest in innovations. Hospital beds are undergoing transformation to cater to the specific needs of patients such as need to reduce sore points for aging and obese patients,” says a Fact.MR analyst.
Key Takeaways from the Medical Beds Market Study
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Leading manufacturers in the medical beds market are investing in the launch of hi-tech medical beds to meet the changing needs of the healthcare industry. Some of the players are also focusing on adoption growth strategies such as expansion of production capacity, merger, and acquisition to strengthen their footprint. For instance,
Some of the key players in the market profiled by Fact.MR are:
More Valuable Insights on Medical Beds Market
Fact.MR, in its new report, offers a detailed analysis on the global medical beds market, analyzing forecast statistics for the assessment period 2021-2031. The study reveals growth projections in medical beds market with detailed segmentation:
Explore Fact.MR’s Coverage on the Healthcare Domain –
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