Increasing incidences of medical emergencies and surgeries, owing to rising geriatric population and increased prevalence of accidents, have resulted into soaring number of hospitalization. Medical furniture such as medical beds are therefore witnessing a significant demand across the globe. This Fact.MR report analyzes the expansion of global medical bed market till date, and provides key insights on the growth of the market during the forecast period, 2017-2022.
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.
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Distinguished by the presence of numerous vendors, the Hospital Bed 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.
The Fact.MR report provides a segment-wise analysis & forecast for covering wide scope of the global medical bed market. The global market for medical beds has been segmented on the basis of product type, usage, application, end-user, and region. A detailed country-wise forecast has been included in the segmentation analysis across all key market parameters.
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Europe will Dominate Global Medical Bed Market
The global medical bed market will continue to be dominated by Europe, in terms of revenues. The medical bed markets in Europe and Middle East & Africa (MEA) are poised to register similar CAGRs through 2022. North America will also remain lucrative in the global medical bed market, and is projected to register a relatively faster expansion through 2022.
Although electric beds will continue to be sought-after among products in the market, sales of semi-electric beds will exhibit the highest CAGR through 2022. Manual beds are anticipated to be comparatively less lucrative than electric beds and semi-electric beds over the forecast period.
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.
Leading players in the global medical bed market are focusing on offering innovative products and extensive services, with an aim of increasing and retaining trust of the end-users. With international players continuously concentrating on extension of their market footprint, regional vendors are finding it difficult to cope up with them in terms of financial resources, market reach, pricing, and quality. Fact.MR’s report has provided a list of companies contributing to growth of the medical bed market worldwide, which include Stryker Corporation, Hill-Rom Holdings, Inc., Getinge AB, Invacare Corporation, Amico Corporation, Medline Industries, Inc., LINET spol. s r.o., Stiegelmeyer GmbH & Co. KG, Span-America Medical Systems, Inc., and Merivaara Corp.
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Medical/Hospital Bed Market: International & Regional Players focusing on Extension of their Produc
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