Rockville Pike, MD -- (SBWIRE) -- 09/12/2019 -- According to a latest research analysis by Fact.MR, the global medical beds market 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.
Distinguished by the presence of numerous vendors, the global medical beds 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 healthcare sector has been witnessing a gradual inclination towards home-based services, from hospital-based services. This is mainly because healthcare services offered in hospitals, particularly during long duration of stays, are expensive. Long-term home-based healthcare services reduces the overall costs for patients. This has been encouraging manufacturers & suppliers to increase their production capacities, in a bid to provide semi-automated and manual beds for home-based healthcare services.
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Based on usage, acute care will account for the largest share of the global medical bed market in 2017, and is further projected to gain an uptick in its market share by 2022-end. Long-term care is also expected to witness a significant usage of medical beds in the near future, with shifting preference of patients towards home-based healthcare services. Sales of medical beds in psychiatric and bariatric care will reflect a sluggish expansion through 2022.
Non-intensive care applications of medical beds will account for nearly four-fifth share of the market over 2017 to 2022. Intensive care is likely to gain traction among medical bed applications in the near future, with increasing number of medical emergencies and surgeries fuelling the requirement for post-operative care.
Increasing incidences of chronic diseases, and neurological diseases owing to rising geriatric population has surged the prevalence of hospitalization across the globe. This has significantly fuelled demand for medical beds in hospitals. Hospitals are anticipated to remain the most lucrative end-users of medical beds, with sales forecast to account for approximately US$ 2,300 Mn revenues by 2022-end. Ambulatory surgical centers will remain relatively less lucrative end-users of medical beds than hospitals during 2017 to 2022.
The report by Fact.MR has identified key players operating in global medical beds market, which include Merivaara Corp., Span-America Medical Systems, Inc., Stiegelmeyer GmbH & Co. KG, LINET spol. s r.o., Medline Industries, Inc., Amico Corporation, Invacare Corporation, Getinge AB, Hill-Rom Holdings, Inc., and Stryker Corporation.
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