Medical Beds Market: Booming Worldwide Edited by Leading Research Firm
Posted by Preet on October 21st, 2019
Distinguished by the presence of numerous vendors, the global medical beds market is highly competitive in nature. The international as well as regional market players, with their strong market penetration and wide geographic reach, are now focusing on extending their products & services for gaining a competitive edge. However, regional vendors are finding it challenging to keep up with international players in terms of market reach, pricing, quality, and financial resources.
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According to a latest research analysis by Fact.MR, the global market for medical beds will expand at a moderate CAGR during 2017 to 2022. Sales of medical beds across the globe are estimated to exceed US$ 3,000 Mn in revenues by 2022-end.
Based on usage, acute care will account for the largest share of the global medical bed market in 2017, and is further projected to gain an uptick in its market share by 2022-end. Long-term care is also expected to witness a significant usage of medical beds in the near future, with shifting preference of patients towards home-based healthcare services. Sales of medical beds in psychiatric and bariatric care will reflect a sluggish expansion through 2022. Non-intensive care applications of medical beds will account for nearly four-fifth share of the market over 2017 to 2022. Intensive care is likely to gain traction among medical bed applications in the near future, with increasing number of medical emergencies and surgeries fuelling the requirement for post-operative care.
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Based on product type, electric beds will remain preferred among patients in the global medical bed market, however sales of electric beds will register the lowest CAGR through 2022. Semi-electric beds are expected to witness a steady expansion and will account for nearly US$ 1,000 Mn revenues by 2022-end. Manual beds will also gain significant traction over 2017 to 2022, owing to their wide adoption in healthcare institutions that are devoid of sophisticated healthcare facilities. In addition, healthcare providers in rural regions depend highly on manual beds on the back of shortage in advanced medical facilities, and affordability of manual beds.
North America will expand at the highest CAGR in the global medical beds market during 2017 to 2022, followed by Asia-Pacific excluding Japan (APEJ). This growth of medical bed market in North America is attributed to availability of highly advanced healthcare facilities, along with increased healthcare expenditure in the region. In addition, higher availability of sophisticated hospitals such as super specialty and multi-specialty hospitals in North America will further influence demand for medical beds.
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About the AuthorPreet
Joined: July 11th, 2019
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