Medical beds and chairs are designed to provide quality and comfort of sleep to patients, who are admitted to hospitals. These medical equipment provide flexibility and relaxation to patients.
Medical chairs are primary medical equipment for moving of patients. Medical chairs are easy-to-use and offer safe transfer of patients. These are specially designed chairs for senior citizens, disabled persons, and persons with other special conditions for mobility and security.
Global Medical Beds & Chairs Market: Drivers and Restraints
Increase in geriatric population, rise in chronic diseases, and rapid technological innovations are the major factors projected to drive the global medical beds & chairs market in the next few years. For example, the world’s population is aging rapidly, especially in some of the developed countries, such as the U.S. and Japan. Developed economies exhibit high rates of aging. According to the World Health Organization, the global geriatric population is likely to reach around 2 billion (22% of global population) by 2050, as against 900 million in 2015. Countries such as India, China, Thailand, and South Korea are expected to have a large geriatric population in the shortest span of time in the near future.
According to research findings by the International Agency for Research on cancer, presently, over 16 million people suffer from cancer across the world. This number is anticipated to increase to 25 million by 2035. Moreover, nearly 24.8 million new cancer cases are likely to be detected by 2030. This will increase the demand for medical beds and chairs in the next few years.
Increase in number of patients admitted to hospitals and clinics and rise in demand for multi-functional and affordable medical equipment are the other factors fueling the growth of the global medical beds & chairs market. However, lack of trained medical professionals to handle critical patients and cost of hospitalization are factors projected to hamper the growth of the global medical beds & chairs market.
North America to Account for Major Share of Global Medical Beds & Chairs Market
North America dominated the global medical bed & chairs market in 2019, followed by Europe. Rise in prevalence of diseases, increase in health care expenditure, technological advancements, and well-developed health care infrastructure are attributed to the dominance of these regions.
The medical beds & chairs market in Asia Pacific is projected to grow at a rapid pace in the next few years. This is due to increase in the number of accidents, developing health care infrastructure, rise in disposable income, and surge in the geriatric population in the region. Developing countries such as the Philippines, Singapore, India, and China are anticipated to propel the medical beds & chairs market in Asia. Moreover, advancements in technology and manufacturing processes in developing countries are creating new opportunities for companies in the global medical beds & chairs market. Increase in the number of mergers & acquisitions, rise in the number of collaborations & partnerships, and new product launches are some of the latest trends in the global medical beds & chairs market.