Electrical Hospital Beds Market Size To Expand at a Notable CAGR Of 7.25% During 2018 - 2023

Pune, India, February,2019/MRFR Press Release/- Market Research Future has published a half-cooked research report on the Global Electrical Hospital Beds Market.

Overview:

The global electrical hospital beds market is likely to attain a valuation of USD 2,595.4 Mn at a CAGR of 7.25% by the end of the forecast period of 2018-2023, asserts Market Research Future (MRFR) in an in-depth study. Electrical hospital beds are of paramount importance to patients with reduced mobility. Patients with acute disease conditions such as paralysis, spinal injuries, and others have witnessed a surge in number in recent years, and electrical hospital beds are increasingly gaining traction among such patients. Electrical hospital beds can be operated with minimal assistance and are of great help to ailing patients. Medical emergency units generate a high demand for electrical hospital beds since medical emergency rooms experience an influx of patients with severe medical ailments. A growing number of accidents, wars, and natural calamities have prompted hospitals to delegate more space for emergency rooms which has further induced demand for electrical hospital beds. Furthermore, the government in multiple countries are revamping their healthcare sector which is providing a boost to the growth of the electrical hospital beds market. Technological advancements which result in improvising of electrical hospital beds and consequently leads to the increased sale of electrical hospital beds. On the flipside, the growth of electrical hospital beds market might be deterred by high costs and high maintenance costs.

Segmentation

The global electrical hospitals beds market has been segmented based on type, type of treatment, application, and end user.

By type, the global electrical hospital beds market has been segmented into semi-automatic bed and fully automatic bed. The fully automatic beds segment currently stands at USD 1,029 Mn and is likely to scale up to USD 1,570.9 Mn by 2023 and capture the highest CAGR of 8.83% over the forecast period. Semi-automatic beds segment is likely to strike a CAGR of 5.07% over the forecast period.

By type of treatment, the global electrical hospital beds market includes critical care, acute care, and long-term care. The critical care segment is the largest as well as the fastest growing segment and is expected to expand at a CAGR of 8.03% over the forecast period to scale valuation of USD 1,020.6 Mn. The acute care segment is expected to be the second largest segment and is expected to attain USD 865.4 Mn by 2023.

By application, the global electrical hospital beds market has been segmented into general purpose, intensive care, delivery/birthing, bariatric, pediatric, pressure relief, psychiatric care, and others. The general purpose segment is leading the market and is expected to reach a market valuation of USD 836.4 Mn by 2023 with a CAGR of 7.29% over the forecast period. The intensive care segment is expected to be the fastest growing segment and capture a CAGR of 7.82% over the forecast period.

By end-user, the global electrical hospital beds market has been segmented into hospital & clinics, reproductive care centers, dentistry, home, & others. Hospitals & clinics segment is dominating the market and is expected to expand at a CAGR of 7.25% over the forecast period.  However, homecare segment is expected to be the fastest growing segment and register a CAGR of 8.81% over the forecast period.

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Regional Analysis

By region, the global electrical hospital beds market has been segmented into the Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA).

Europe is the largest market for electrical hospital beds and accounted for 34% share of the global market in 2017. Presence of sophisticated healthcare infrastructure and greater emphasis on patient health and comfort in the region drives the market. The U.K., France, and Germany are the key contributors to the Europe market which can scale valuation of USD 906.4 Mn by the end of 2023.

The Americas is the second largest market for electrical hospital beds driven by high healthcare spending in strong economies such as the US and Canada.

APAC market is anticipated to exhibit rapid growth over the forecast period. High investment on the development of healthcare infrastructure, the growth of medical tourism and availability of a massive patient pool creates favorable growth opportunities for the market growth. The APAC market is estimated to strike a CAGR of 8.47% over the forecast period.

Competitive Landscape

The eminent players in the global electrical hospital beds market include Span America Medical System, Inc. (U.S.), Paramount Bed Holding Co., Ltd. (Japan), Famed Zywiec Sp.zo.o. (Poland), Hill Room Holding (U.S.), Stryker Corporation (U.S.), Invacare Corporation (U.S.), Amico Group of Companies (Canada), Medline Industries, Inc. (U.S.), Getinge AB (Sweden), ArjoHuntleigh (Sweden), Malvestio Spa (Italy), Midmark Corporation (U.S.), Merivaara Corporation (Finland), Gendron, Inc. (U.S.), and Linet spol.s.r.o. (Czech Republic).