Electrical Hospital Beds Market | Worldwide Top key Players Profile Analysis | Forecast till 2023
The global electrical hospital beds market analysis by MRFR prdeicts the market expected to touch a valuation of USD 2,595.4 million by 2023. The increasing medical tourism in developing economies has become a lucrative opportunity for major hospital chains. Electrical hospital beds are a necessity in hospitals which can assist patients with serious ailments in getting out of bed as well as provide a comfortable experience.
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Rise of chronic diseases, the expanding geriatric populace, increasing rates of obesity, and inflated healthcare expenditure of nations are factors which can positively impact the market growth. Improved designs by bed manufacturers which focus on comfort is likely to provide the electrical hospital beds market demand the thrust in the right direction. The high costs of these beds can act as a growth deterrent. But demand for smart hospital beds coupled with technological advances in the healthcare sector can facilitate global market growth.
The electrical hospital beds market can be segmented by type, treatment, application, and end-user.
By type, the market is segmented into semi-automatic and fully automatic. The fully automatic segment accounted for 55% share in 2017, while the semi-automatic segment accounted for 45% share in the same year. The fully automatic segment is projected to experience a 8.83% CAGR over the forecast period owing to its extensive features such as controlling the lower part of the bed.
By treatment, the market covers acute care, critical care, and long term care. The critical care segment is expected to enjoy an 8.03% CAGR over the forecast period. It had dominated the market in 2017 owing to the sharp rise of electrical beds in intensive care units.
Major market applications include general purpose, intensive care, delivery/birthing, bariatric, pediatric, pressure relief, and psychiatric care. The general purpose segment accounted for the highest market share in 2017, followed by the intensive care segment. It is predicted to reign in the electrical hospital beds market over the assessment period owing to its high usage in sports academies, old age homes, rehabilitation centers, and others.
End-users in the electrical hospital beds market include hospitals and clinics, reproductive care centers, home care, and dentistry. Among these, the hospitals and clinics segment accounted for 40% market share in 2017, followed by reproductive care, dentistry, and home care segments. It is predicted to experience a 7.25% CAGR over the forecast period.
The electrical hospital beds market covers the latest trends and opportunities across Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The European region accounted for 34% market share in 2017, followed by Americas (31%), APAC (25%), and MEA (10%). It can enjoy a 7.46% CAGR over the forecast period owing to its sophisticated healthcare infrastructure and emphasis on patient health by prominent nations. Countries such as the U.K., France, and Germany can drive the regional market size to USD 906.4 million by 2023.
The Americas region can enjoy a substantial growth rate over the forecast period owing to strong economies of Canada and the U.S. Introduction of beds with ergonomic designs and cost-effective prices are likely to induce massive demand from patients emphasizing on home care.
The APAC electrical hospital beds market is projected to grow at a rapid clip thanks to improvements in the healthcare sector, increasing medical tourism, and a dearth of opportunities owing to the large patient pool. It is expected to enjoy a 8.47% CAGR over the forecast period.
Prominent players operating in the electrical hospital beds market include Paramount Bed Holding Co., Ltd. (Japan), Famed Zywiec Sp.zo.o. (Poland), Amico Group of Companies (Canada), Invacare Corporation (U.S.), Medline Industries, Inc. (U.S.), Merivaara Corporation (Finland), Span America Medical System, Inc. (U.S.), Linet spol.s.r.o. (Czech Republic), Gendron, Inc. (U.S.), ArjoHuntleigh (Sweden), Malvestio Spa (Italy), Stryker Corporation (U.S.), Midmark Corporation (U.S.), Hill Room Holding (U.S.), and Getinge AB (Sweden).