The Global Electrical Hospital Beds Market is likely to attain a valuation of USD 2,595.4 Mn at a CAGR of 7.25% by the end of the forecast period of 2018-2023, asserts Market Research Future (MRFR) in an in-depth study.
Electrical hospital beds are of paramount importance to patients with reduced mobility. Patients with acute disease conditions such as paralysis, spinal injuries, and others have witnessed a surge in number in recent years, and electrical hospital beds are increasingly gaining traction among such patients. Electrical hospital beds can be operated with minimal assistance and are of great help to ailing patients. Medical emergency units generate a high demand for electrical hospital beds since medical emergency rooms experience an influx of patients with severe medical ailments. A growing number of accidents, wars, and natural calamities have prompted hospitals to delegate more space for emergency rooms which has further induced demand for electrical hospital beds. Furthermore, the government in multiple countries are revamping their healthcare sector which is providing a boost to the growth of the electrical hospital beds market. Technological advancements which result in improvising of electrical hospital beds and consequently leads to the increased sale of electrical hospital beds. On the flipside, the growth of electrical hospital beds market might be deterred by high costs and high maintenance costs.
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Segments for Global Electrical Hospital Beds Market
The global electrical hospitals beds market has been segmented based on type, type of treatment, application, and end user.
By type, the global electrical hospital beds market has been segmented into semi-automatic bed and fully automatic bed. The fully automatic beds segment currently stands at USD 1,029 Mn and is likely to scale up to USD 1,570.9 Mn by 2023 and capture the highest CAGR of 8.83% over the forecast period. Semi-automatic beds segment is likely to strike a CAGR of 5.07% over the forecast period.
By type of treatment, the global electrical hospital beds market includes critical care, acute care, and long-term care. The critical care segment is the largest as well as the fastest growing segment and is expected to expand at a CAGR of 8.03% over the forecast period to scale valuation of USD 1,020.6 Mn. The acute care segment is expected to be the second largest segment and is expected to attain USD 865.4 Mn by 2023.
By application, the global electrical hospital beds market has been segmented into general purpose, intensive care, delivery/birthing, bariatric, pediatric, pressure relief, psychiatric care, and others. The general purpose segment is leading the market and is expected to reach a market valuation of USD 836.4 Mn by 2023 with a CAGR of 7.29% over the forecast period. The intensive care segment is expected to be the fastest growing segment and capture a CAGR of 7.82% over the forecast period.
By end-user, the global electrical hospital beds market has been segmented into hospital & clinics, reproductive care centers, dentistry, home, & others. Hospitals & clinics segment is dominating the market and is expected to expand at a CAGR of 7.25% over the forecast period. However, homecare segment is expected to be the fastest growing segment and register a CAGR of 8.81% over the forecast period.
Competitive Analysis
The disequilibrium noticed in the forces that are backing the growth of the market is expected to lead to a relatively slow pace of the growth. The enhancement of the distribution channels is projected to motivate market growth relatively. The conducive nature of the monetary and fiscal policies is likely to lead to solid growth in the market. Moreover, the rise in International transactions is anticipated to bolster the expansion of the market considerably. The positive effect exerted by governments in the development of the market is expected to guide the market towards sound progress in the coming years. The global economies are reacting to the market forces by implementing favorable policies and cutbacks so as prevent a slowdown in the progress of the market. The changes in the income levels globally are contributing to the growth of the market. The rise in individual discretionary spending is anticipated to lead to the progress of the market.
The noteworthy contenders in the electrical hospital beds market are
- Span America Medical System, Inc. (U.S.),
- Stryker Corporation (U.S.),
- Famed Zywiec Sp.zo.o. (Poland),
- Merivaara Corporation (Finland),
- Gendron, Inc. (U.S.),
- ArjoHuntleigh (Sweden),
- Amico Group of Companies (Canada),
- Midmark Corporation (U.S.),
- Linet spol.s.r.o. (Czech Republic),
- Paramount Bed Holding Co., Ltd. (Japan),
- Invacare Corporation (U.S.),
- Hill Room Holding (U.S.),
- Getinge AB (Sweden),
- Medline Industries, Inc. (U.S.), and
- Malvestio Spa (Italy).
Regional Analysis for Global Electrical Hospital Beds Market
The regional examination of the electrical hospital beds market has been segmented into the Middle East, the Americas, Asia Pacific, Europe, and Africa. The European region is the principal market for electrical hospital beds and had accounted for 34% portion of the global market in 2017. The presence of sophisticated healthcare infrastructure and better emphasis on patient health and comfort in the region is driving the market. Nations such as France, the U.K., and Germany are important contributors to the European region market, which can reach a valuation of USD 906.4 Mn by the end of 2023. The Americas region is the next principal market for electrical hospital beds motivated by elevated healthcare expenditure in strong economies such as the US and Canada. Moreover, the APAC market is estimated to display speedy progress over the forecast period. Moreover, increased investment on the progress of healthcare infrastructure, the expansion of medical tourism, and accessibility to a massive patient pool generates promising growth prospects for market development.
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