The global automated hospital beds market is estimated to garner a sizeable revenue by growing at a CAGR of ~5% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the growing advancements and innovations in the medical devices’ technology, and increasing patient pool around the world. Along with these, rising prevalence of chronic diseases, and upsurge in the number of accidents globally are also expected to drive the demand for the products in the upcoming years. In 2019, approximately 8% of the population of the United States was diagnosed with autoimmune diseases. Whereas, this proportion in China stood at more than 4% the same year. Furthermore, escalating investments in healthcare, and rise in the disposable income of the people are projected to offer abundant growth opportunities to the market in the near future.
The market is segmented by usage into general purpose, intensive care, delivery, bariatric, pediatric, psychiatric care, pressure relief, and others, out of which, the general purpose segment is anticipated to hold the largest share in the global automated hospital beds market. This can be accounted to the higher number of patients in general ward as compared to other wards. Apart from this, rising demand to cater to the needs of patients with minor diseases or injuries in the hospitals is also predicted to accelerate the growth of the market segment in the future. Additionally, on the basis of treatment type, the critical care segment is assessed to acquire the largest share during the forecast period owing to the increasing demand for automated hospital beds among patients with life-threatening conditions. CLICK TO DOWNLOAD SAMPLE REPORT
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Regionally, the global automated hospital beds market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the increasing geriatric population, as they are more prone to chronic diseases. According to the World Health Organization (WHO), the proportion of people aged 60 or above in the South East Asia region was 9.8% in 2017, which is evaluated to increase to 13.7% and 20.3% by 2030 and by 2050, respectively.
In addition, growing emphasis of governments to improve the healthcare infrastructure is also expected to drive market growth in the region in the coming years. Moreover, the market in Europe is projected to occupy the largest share during the forecast period owing to the favorable government policies regarding installation of automated hospital beds, and strong presence of major market players in the region.
The global automated hospital beds market is further classified on the basis of region as follows:
Our in-depth analysis of the global automated hospital beds market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The major factors driving market growth are growing advancements and innovations in the medical devices’ technology, and increasing patient pool around the world.
The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2022-2031.
High cost of automated hospital beds is estimated to hamper the market growth.
Asia Pacific will provide more business opportunities for market growth owing to the increasing geriatric population, as they are more prone to chronic diseases.
The major players in the market are Gendron Inc., Invacare Corporation, Linetspol. sr.o., Medline Industries, Inc., Paramount Bed Holdings Co. Ltd., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, treatment type, usage, end user, and by region.
The critical care segment is anticipated to hold largest market size and is estimated grow at a robust CAGR over the forecast period and display significant growth opportunities.
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