The South and Central America electric bed market is expected to reach US$ 135.63 million in 2027 from US$ 68.57 million in 2019. The market is estimated to grow with a CAGR of 8.3% from 2020 to 2027. The growth of the South and Central America electric beds 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 healthcare industry. However, the steep prices of electric beds and reduction in the average length of hospital stays by patients are likely to hinder the market growth.
Electric beds allow adjusting both upper and lower body positions as well as the height of the bed. They help in dealing with a variety of medical issues and exponentially increase comfort. Rising prevalence of chronic diseases such as cancer, cardiovascular disease (CVD), and diabetes escalate the demand for electric beds. Also, the patients in higher stages of cancer lose their ability to perform various physiological tasks on their own, and electric beds assist healthcare staff looking after such patients. According to a report presented by the International Cancer Research Center (IARC) at Globocan 2016, 20% of men and women in Argentina develop some type of cancer during their life. Thus, the increasing prevalence of chronic diseases is driving the growth of the South and Central America electric bed market. Also, the rising number of hospitals and clinics across South and Central America would boost the market growth during the forecast period.
The COVID-19 pandemic is bolstering the growth of the electric bed market in South and Central America. The hospital bed is a primary requirement to treat COVID-19 patient. Hence, the continuously rising number of COVID-19 confirmed patients and government efforts to deliver a good care for these patients are driving the growth of the South and Central America electric bed market.
Based on product, the South and Central America electric bed market is bifurcated into semi-automatic electric beds and fully automatic electric beds. The semi-automatic electric beds segment held a larger share of the market in 2019. However, the fully automatic electric beds segment is expected to register a higher CAGR in the market during the forecast period.
The South and Central Americaelectric bed market, based on application, 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, and the intensive care segment is estimated to register the highest CAGR in the market during the forecast period.
By end user, the South and Central Americaelectric bed market is segmented into hospitals and clinics, dentistry, and others. The hospitals and clinics segment held the largest share of the market in 2019, andthe same segment is anticipated to register the highest CAGR in the market during the forecast period.
A few of the primary and secondary sources referred to while preparing the report on the South and Central Americaelectric beds market are the World Health Organization (WHO), Centers for Disease Control and Prevention (CDC), andOrganization for Economic Co-operation and Development (OECD).