Burlingame, Feb. 16, 2024 (GLOBE NEWSWIRE) -- CoherentMI published a report, titled, Global Intensive Care Beds Market was valued at US$ 3.45 Billion in the year 2023, and is anticipated to reach US$ 5.88 Billion by 2030, with growing at a CAGR of 7.9% during the forecast period 2023-2030.
Market Dynamics:
The Intensive Care Beds Market is driven by two main factors. Firstly, the rising prevalence of chronic diseases, such as cardiovascular diseases, cancer, and respiratory disorders, is leading to an increased demand for intensive care beds. These beds are specially designed to provide continuous monitoring and support for critically ill patients. The growing geriatric population worldwide is also contributing to the increased demand for intensive care beds, as older individuals are more prone to chronic illnesses and require specialized medical care.
Secondly, the advancements in healthcare infrastructure and technology are supporting the growth of the intensive care beds market. Hospitals and healthcare facilities are increasingly adopting advanced beds with features such as integrated patient monitoring systems, electric controls, and pressure redistribution mattresses. These beds enhance patient comfort and facilitate efficient care delivery, thus driving market growth.
Intensive Care Beds Market Report Snapshot:
| Report Coverage | Details | |
| Study Period | 2023 - 2030 | |
| Base Year of Estimation | 2022 | |
| CAGR | 7.9% | |
| Largest Market | North America | |
| Market Concentration | High | |
| Major Players | Stryker Corporation, Invacare Corporation, Hill-Rom Holdings, Inc., Getinge AB, Medline Industries, Inc. and Among Others. | |
| Segments Covered | By Product Type, By Application, By End User, By Region | |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends | |
| Growth Drivers | • Rising Prevalence of Chronic Diseases • Technological Advancements • Growing Number of Hospitals & ICUS | |
| Restraints & Challenges | • High Cost of Advanced ICU Beds • Lack of ICU Infrastructure in Developing Nations | |
Market Takeaways:
- The Intensive care beds market size is anticipated to witness a CAGR of 7.9% during the forecast period 2023-2030, owing to the growing demand for advanced and specialized beds in healthcare settings.
- Based on product type, the manual beds segment is expected to hold a dominant position, owing to its widespread usage and cost-effectiveness. However, the electric beds segment is projected to experience significant growth due to its advanced features and benefits.
- In terms of application, general ICU beds are expected to dominate the market, as they are widely used in hospitals and provide versatile functionality. However, the pediatric and neonatal beds segment is expected to register substantial growth, driven by the increasing focus on pediatric and neonatal healthcare services.
- Hospitals are the key end users in the intensive care beds market, accounting for the largest market share. This can be attributed to the high patient inflow in hospitals and the need for specialized beds to cater to different medical conditions. The homecare settings segment and nursing homes are also expected to contribute to the market growth.
- Regionally, North America is expected to hold a dominant position in the intensive care beds market over the forecast period. This can be attributed to the presence of advanced healthcare infrastructure, higher healthcare expenditure, and the growing geriatric population in the region.
- Key players operating in the intensive care beds market include Stryker Corporation, Invacare Corporation, Hill-Rom Holdings, Inc., Getinge AB, Medline Industries, Inc., and many others. These players are focused on product innovation, partnerships, and acquisitions to strengthen their market presence and meet the growing demand for intensive care beds globally. Advancements in technology, such as the integration of IoT and AI in beds, are expected to offer lucrative opportunities for market growth.
Market Trends:
Two key trends in the intensive care beds market are the increasing adoption of smart beds and the growing popularity of home healthcare settings.
Smart beds have gained significant traction in recent years, thanks to advancements in sensor and connectivity technology. These beds are equipped with various sensors that monitor the patient's vital signs and body movements. The collected data is then transmitted wirelessly to healthcare professionals for real-time monitoring and analysis. Smart beds improve patient safety, reduce the risk of pressure ulcers, and enable early detection of medical emergencies.
There is also a growing shift towards home healthcare settings, where patients receive healthcare services in the comfort of their own homes. Intensive care beds designed for home use are becoming increasingly popular, as they provide a cost-effective and convenient alternative to hospital stays. These beds are equipped with features such as adjustable height, side rails, and mobility options to ensure patient comfort and safe care delivery in a home setting.
Recent Development:
- In June 2023, Baxter International Inc. announced the launch of its new Hillrom Progress + bed for ICUs in the United States.
- In September 2022, Jaslok Hospital & Research Centre and Citi jointly announced the opening of the Jaslok Annex, which will house 85 patients and have one of the highest ratios of ICU beds to total beds, exceeding statutory norms.
Read the complete market research report, "Global Intensive Care Beds Market, By Product Type, By Application, By End User, By Region, and other Segment Forecast 2023-2030", published by CoherentMI.
Market Opportunities:
Growing demand for electric beds
The electric beds segment is expected to experience significant growth in the intensive care beds market. This can be attributed to the increasing preference for electric beds over manual beds due to their advanced features and benefits. Electric beds offer adjustable height, backrest, and leg rest positions, making it easier for healthcare professionals to provide optimal care to patients. Additionally, these beds are equipped with features like built-in alarms and control panels, allowing for easy monitoring and customization. The rising geriatric population, along with the increasing prevalence of chronic diseases, is driving the demand for electric beds in hospitals and other healthcare settings.
Rising demand for pediatric and neonatal beds
The demand for pediatric and neonatal beds is expected to witness significant growth in the intensive care beds market. As the neonatal and pediatric population continues to grow, there is a need for specialized beds that cater to their unique needs. Pediatric and neonatal beds are designed to provide a safe and comfortable environment for infants and children, with features such as side rails, security alarms, and adjustable height options. The increasing investments in neonatal intensive care units (NICUs) and pediatric intensive care units (PICUs) across the globe are fueling the demand for these specialized beds.
In conclusion, the intensive care beds market is poised for significant growth, driven by the demand for electric beds and pediatric and neonatal beds. The dominance of manual beds and hospitals as key segments highlights the need for cost-effective options and specialized care in healthcare settings. The North American region holds a strong market position, while key players are striving to innovate and expand their product portfolios to meet the evolving market demands.
Global Intensive Care Beds Market Segmentation:
- By Product Type
- Manual Beds
- Electric Beds
- Bariatric Beds
- Pediatric Beds
- Others (Semi-electric beds and among others)
- By Application
- General ICU Beds
- Pediatric and Neonatal Beds
- Others (Specialized ICU and among others)
- By End User
- Hospitals
- Homecare Settings
- Nursing Homes
- Others (Specialty clinics and among others)
- By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East
- Africa
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Top Questions Answered in this Report:
- What factors are impeding the growth of the Global Intensive Care Beds Market?
- What are the primary drivers fueling the growth of the Global Intensive Care Beds Market?
- Which segment stands out as the leading component in the Global Intensive Care Beds Market?
- Who are the key players actively participating in the Global Intensive Care Beds Market?
- Which region is poised to take the lead in the Global Intensive Care Beds Market?
- What is the projected CAGR for the Global Intensive Care Beds Market?
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