Smart Hospital Beds Market to exceed US$ 1,49711 million by 2030

by Sameer Joshi or 08-Sep-2023
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Report : Smart Hospital Beds Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Patient Weight (Less than 70 lb, 70–150 lb, 150–400 lb, 400–500 lb, and Greater than 500 lb), Offering (Products & Accessories, Software & Solutions, and Patient Weight), Application (Fall Prevention, Pressure Injury Prevention, Patient Deterioration & Monitoring, and Others), End User (Hospitals, Clinics & Nursing Homes, Ambulatory Surgical Centers, Medical Laboratories, Long Term Care Centers, and Others), and Geography

400 to 500 lb Segment Held Largest Share of Patient Weight Segment in Smart Hospital Beds Market

According to our latest study on " Smart Hospital Beds Market Size and Forecast to 2030 – COVID-19 Impact and Global Analysis – by Patient Weight, Offering, Application, and End User," the market was valued at US$ 526.28 million in 2022 and is expected to reach US$ 1,49711 million by 2030. It is estimated to register a CAGR of 14.0% during 2022–2030.

Automation has led to a reduced dependency on human workforces in many industries. Adopting technologically advanced products has impacted ~90% of the work performed daily by individuals. Technological advancements have abundantly benefitted the healthcare sector, and numerous hi-tech medical devices with embedded control functions are now available for the efficient operation of this sector. Technologically advanced smart beds have become a part of hospitals, nursing care facilities, specialized clinics, and home care facilities. These beds are offered with all essential specifications that enable efficient operations of healthcare providers or caregivers. They enable faster recovery of patients by making the necessary movements hassle-free. These beds are also equipped with monitoring systems that can be used to send alerts to nurses. Companies offer smart beds with communication systems that connect directly to nursing departments. Streamlined communications allow nurses to remotely monitor patient conditions and vital functions. In addition, smart beds are now combined with sensors that can be remotely operated. Other advantages of modern smart beds lie in their ability to identify patients’ health patterns that keep healthcare providers well informed, and assist them in decision-making related to health and intervention. Other features of smart hospital beds include height adjustment features, smart side rails, and wireless connections. Conventional hospital beds transformed into highly networked devices that use software solutions are categorized as Class II medical devices. With further upgrades in smart bed technologies, these beds are anticipated to deliver research information on different medical and health aspects, perform statistical analysis, and collect data on patients. These potential abilities of smart hospital beds encourage significant investments in the modernization of healthcare infrastructure, leading to the growing demand for smart beds. According to estimates provided by the Organization for Economic Cooperation and Development (OECD) in 2021, OECD member countries are expected to increase their overall healthcare expenditure from 3% in 2018 to 8% by 2030. For instance, European Union (EU) launched EU4Health Programme with an investment of US$ 5 billion (€5.3 billion), focusing on the health data collected from patients, digital tools and services, and digital transformation of healthcare. The UK has plans to invest US$ 1.6 billion (£2 billion) in the digital transformation of the National Health Services (NHS). Such investments are likely to enhance the installation of smart beds in the healthcare sectors in European countries.

The smart hospital beds market, by end user, is fragmented into less than hospitals, clinics and nursing homes, ambulatory surgical centers, medical laboratories, long term care centers, and others. The hospitals segment held the largest market share in 2022 and clinics and nursing homes anticipated to register the highest CAGR of 15.4% during the forecast period.

Hospitals are complex organizations and institutes that provide healthcare to people by using specialized scientific equipment and a team of trained staff educated on the problems of modern medical science. Most surgeries are performed in hospitals and clinics as these facilities offer continuous patient care and monitoring. The rising prevalence of chronic diseases, growing geriatric population, and increasing number of hospitals and clinics primarily contribute to the growth of hospitals and clinics. For instance, the geriatric population is more than twice as likely to need hospitalization compared with adults in middle age; ~17% of Americans aged 65 years and older get hospitalized at least once a year, out of which only 8% of adults from the age group 45–64 required hospitalization. Infectious, respiratory, and cardiovascular diseases are the leading reasons for admissions among older patients.

Hill-Rom Holdings Inc, Stryker Corp, B. Braun SE, Arjo AB, Invacare Corp, Paramount Bed Co Ltd, Linet Spl, Malvestio SpA, Stiegelmeyer GmbH & Co. KG, and Umano Medical Inc. are among the leading companies operating in the smart hospital beds market.

The report segments the global smart hospital beds market as follows:

The smart hospital beds market is segmented on the basis of patient weight, application, offering, and end user. By patient weight, the smart hospital beds market is segmented into less than 70 lb, 70-150 lb, 150-400 lb, 400-500 lb, and greater than 500 lb. The market, based on application, is segmented into fall prevention, pressure injury prevention, patient deterioration & monitoring, and others. On the basis of offering, the smart hospital beds market is segmented into products & accessories, software & solutions, and services. On the basis of end user, the smart hospital beds market is segmented into hospitals, clinics & nursing homes, ambulatory surgical centers, medical laboratories, long term care centers, and others. In terms of geography, the smart hospital beds market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, South Africa, and Rest of the Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).

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