Launch of Innovative Products to be Prevalent Trend in Electric Bed Market
According to our new research study on “Electric Bed Market to 2027 - COVID-19 Impact and Analysis- by Product, Application, and End User,” the market is expected to reach US$ 4,597.60 million in 2027 from US$ 2,111.59 million in 2019. The market is estimated to grow at a CAGR of 9.6% from 2020 to 2027.The report highlights key factors driving the market growth and prominent players along with their developments in the market. The growth of the market is attributed to key driving factors such as rising number of chronic diseases, increasing number of hospitals and clinics, and growing number of public-private partnership in the healthcare industry. However, the steep prices of electric beds and reduction in average length of hospital stays are likely to hinder the market growth.
Based on application, the electric bed market is segmented into general bed, intensive care bed, bariatric bed, and birthing bed. The general bed segment held the largest share of the market in 2019. However, the intensive care segment is estimated to register the highest CAGR of 10.4% during the forecast period.
Electric beds with advanced functions and more effective benefits are of great importancein the treatment ofvarious chronic diseases. The rising prevalence of chronic diseases across the world is boosting the demand for medical devices such as advanced electric beds; furthermore, most of the hospital facilities prefer at least semi-electric beds. These factors are encouraging researchers to introduce innovative products providing better comfort and care to patients. In October 2019, Stryker introduced industry’s first completely wireless hospital bed named ProCuity bed series. Similarly, in August 2018, Arjo, a world leader in medical solutions, introduced IndiGo-an intuitive drive assist to reduce ergonomic risks in electric medical beds.The increasing product development and continuous innovations are expected to provide an impetus for the growth of the electric beds market during the forecast period.
The COVID-19 pandemic is causing massive disruptions in global supply chains, consumer markets, and the economy as a whole. However, the demand for electric beds have increased due to COVID-19 as the hospital beds serve to be a primary role in the care required for COVID-19 sufferers. The condition of patients not receiving care may be fatal and thus the initial months of transfection resulted in whooping demand for the advanced beds for patient care.
Arjo Medical Devices;Hill Rom Holding, Inc.;Medline Industries, Inc.;Paramount Bed Holdings Co., Ltd.;Invacare Corporation;Stryker Corporation;Malvestio Spa;LINET;Gendron Inc.;and Joerns Healthcare LLCare among the leading companies in the electric bed market.
The report segments global electric bed market as follows:
By Product
By Application
By End User
By Geography
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