Segmentation by Equipment Type [Beds (Electric, Semi-Electric, Low Beds, Manual and Others) and Stretchers (Four Fold Stretcher, Neck Up Cervical Collar, Self-Loading Stretcher, Integrated Paediatric and Adult Spine Board, and Others]; and by Application (General Medical & Surgical Hospitals, Speciality Hospitals, Clinics, and Others) – Global Demand Analysis and Opportunity Outlook 2021-2029
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Our in-depth analysis of the global critical care medical beds and stretchers market includes the following segments:
By Equipment Type
By Application
Growth Drivers
Challenges
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to the high requirement of critical care medical beds and stretchers due to rapid increase in the Covid-19 associated admissions. Furthermore, in 2021, the market in North America is evaluated to occupy the largest share in terms of revenue, owing to the high number of Covid-19 cases, accompanied by the presence of leading manufacturers of critical care medical beds and stretchers in the region. Along with this, North America also has a very strong healthcare system, which is also expected to contribute to the market growth in the region. Alternatively, the market in Europe is also anticipated to occupy a significant share in the critical care beds and stretchers market on account of rising elderly population and a high incidence of Covid-19 in the region. As per the analysis of Eurostat, an agency of European Union, in 2019, more than one fifth of the Europe’s population was aged 65 and over.
The critical care medical beds and stretchers market is further classified on the basis of region as follows:
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: Increase in population having co-morbidities and affected by recent Covid-19 outbreak and rising geriatric population on a global scale are the key factors driving market growth.
Ans: The market is anticipated to attain a high CAGR over the forecast period, i.e., 2021-2029.
Ans: Disruption of supply chain and logistics due to rapid spread of Covid-19 and lack of government spending in healthcare in lower economic regions are estimated to hamper market growth.
Ans: Disruption of supply chain and logistics due to rapid spread of Covid-19 and lack of government spending in healthcare in lower economic regions are estimated to hamper market growth.
Ans: The major players dominating the critical care medical beds and stretchers market are Stryker Corporation, Hill-Rom Holdings Inc, Getinge AB, and Invacare Corporation among others.
Ans: The company profiles are selected on the basis of 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.
Ans: The market is segmented by equipment type, application and region.
Ans: With respect to application, the general medical and surgical hospitals segment is anticipated to hold the largest market share owing to the fact that they have strong financial capabilities for purchasing expensive and large number of critical care devices at the same time.
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