ID: MRFR/HC/5090-CR | October 2018 | Region: Global | 100 pages
An electrical hospital bed is an equipment that helps patients who are in chronic or very serious conditions. It raises higher or lower through an apparatus and so that the patient can get comfortable in their position to lie down. The analysis has made an inside full research into the electrical hospital beds market. Analysts look into the matter of electrical hospital beds market growth thoroughly to see the scope of changes and improvements.
A report has shown a thorough study into the electrical hospital beds market size which is divided into many different zones based on type, treatment, application, end-user as well as region. In this report, numerous good strategies are outlined where companies undertake the strategies of driving the market to the latest trends. The market is a part of every diverse community present out there that is present for marketing. The shed of all prominent players and the niche it holds is discussed in a very detailed way. Electrical hospital beds market share analyzes new revenue sources for all the main marketing heads and also emphasizes the numerous strategies that have to be implemented by these marketing heads.
It is expected that the globally electrical hospital beds market will exhibit a 7.6% CAGR from 2019 to 2027. This period of 2019 to 2027 is called the forecast period.
Covid 19 Analysis
With the global pandemic of 2019 that started without breaking off a deadly virus without any cure all over the world. The hospitality and health sector was the most affected by the coronavirus. The number of electrical hospital beds decreased at a sharp rate. As more and more patients were being admitted day after day the requirement for electrical hospital beds increased. Electrical hospital bed demands increased with a sharp number. Shortage of electrical hospital beds was a common challenge faced. The factors like obesity increased healthcare expenditure of nations and the development of new and ergonomic designs of beds to provide the patients with the most comfortable experience were easily neglected due to the outbreak of this disease. Hospitals only treated coronavirus disease and neglected all other patients quite easily hence this ended up making the health department in its worst condition with no electrical hospital beds or always a shortage of electrical hospital beds.
It is expected that as soon as the COVID 19 comes up. It raised the health sector, it grew and immediate hospitals and electrical beds manufacturing started. This also increased the number of electrical hospital beds immediately at the place of requirement.
The manufacturing of electrical hospital beds is increasing. There are so many reasons as to why electrical hospital bed manufacturing is increasing most of it being that all the major and general-purpose work of the hospitals are done on the electrical hospital beds such as intensive care delivery pressure relief, psychiatric care bariatric, pediatric, and others. And all these uses have added the COVID 19 cases which are tremendously increasing day by day and hence need a lot of electrical hospital beds.
The manufacturing and electrical hospital bed demands are increasing all over the globe. It is because of the improved lifestyle of people which often leads to obesity. Not only do people suffer from a negative which leads to a lot of diseases but people have increased their economic lifestyle which directly affects their health due to healthy eating and going out all the time. People slowly are wanting to spend on national health care and more and more electrical hospital beds are needed. With increasing lifestyle and more betterment of life means more comfort and experience that is to be wanted by different kinds of patience. They need different electrical hospital beds.
Although it is very clear that electrical hospital bed demand is increasing in the global electrical hospital beds market. But just making an increase in the demand would not do the job. It is important to know that although there is an increase in the lifestyle of people most of the people still comprise the poor ones. Due to the manufacturing of over electrical hospital beds can also give a big loss to the companies. Not everyone in the city will prefer electrical hospital beds or cannot afford electrical hospital beds. Electrical hospital beds take a lot to manufacture and hence become costly.
Due to an increased population and due to a pandemic like COVID 19 electrical hospital beds have not proved to be of much use.
Value Chain Analysis
The demand for electrical hospital beds is increasing because they are vital equipment that not only assists patients with chronic diseases or serious injuries but also gives them a comfortable position to lie in and recover. Electrical hospital beds have the feature of lowering and raising which gives immense comfort and speedy recovery.
The electrical hospital beds market in the global market has been divided based on type, application, and distribution channel.
Based On The Type
The electrical hospital beds market in the global market have been divided into semi-automatic and fully automatic types of electrical hospital beds. And if seen based on treatment the market is divided into acute care critical care and long-term care. The semi-automatic seems to dominate the electrical hospital beds market as it is much cheaper and gives the comfort of an electrical hospital bed.
Based On The Application
The electrical hospital beds market have been divided based on the application into major types such as intensive care, general-purpose, delivery pressure relief, psychiatric care, bariatric care, pediatric care, and others.
Based On The Distribution Channels
The electrical hospital beds imarket based on the distribution channel have been divided into hospitals, clinics, reproductive care centers, home care, dentistry, and others.
The global electrical hospital beds market has been divided into four main regions namely Americas, Europe, Asia Pacific ( APAC), and the Middle East and Africa( MEA). In this analysis and data that is collected America has the largest country-level market sizing. America is the leading producer of an electrical hospital bed with the most improved lifestyle of people.
It is followed by Europe which is the second-largest electrical hospital bed level market sizing producer. With over 80% of people being rich, electrical hospital beds do make good revenue here. Followed by the third-largest electrical hospital beds produced in the Asia Pacific and the Middle East in Africa the fourth largest electrical hospital beds producer.
The most prominent players in the electrical hospital beds industry in the global markets are as follows-
The most prominent market key players in the electrical hospital beds market industry are these respective key players. With different strategies and planning, they are successful in meeting the demands of the electrical hospital beds. The various policies and strategies used by these key players are segmental share, SWOT analysis, growth strategies, expansion techniques, latest R and D initiatives, and thorough objective analysis of the market. Use of primary strategies such as interviews and lastly the past and present analysis of the data and putting those strategies to move in a forward direction.
The electrical hospital beds market report analysis consists of the following elements-
This global electrical hospital beds research report consists of various factors that affect the restrainment of its manufacturing. The various factors that increase the demands of electrical beds are also discussed. The applications of electrical hospital beds are to be noted down. The impact of COVID 19 and thorough analysis of its effect.
The future growth rates of electrical hospital beds industry are also discussed.
The electrical hospital beds are used in general-purpose intensive care delivery and birthing pressure relief psychiatric care bariatric care pediatric care much other use.
Frequently Asked Questions (FAQ) :
The electrical hospital beds market is projected to grow at a 7.25% CAGR between 2015-2023.
The electrical hospital beds market predicted to touch USD 2,595.4 million by 2023.
US is projected to command the largest share in the electrical hospital beds market.
General purpose segment will dominate the electrical hospital beds market.
Hospitals and clinics will have the largest share in the electrical hospital beds market.
Electrical Hospital Beds – Summary
Patient’s comfort is of utmost priority in healthcare sector. That’s why a lot of advanced technologies find their way in the healthcare sector each year across the globe. Electrical hospital beds are no exception in that respect. The endeavor is to assist patients in their movement, electrical beds help patients sit and get out of the bed, particularly when they are vulnerable after critical procedures and treatments. Market Research Future declares USD 1,829 million as electrical hospital bed market’s current valuation which in coming five years can touch USD 2,595.4 million. At the same time, electrical hospital beds market can expect to rise with a 7.30% CAGR during the forecast period.
Electrical beds are now gaining accolades from the healthcare sector for the amount of comfort they add and for their operational ease. These beds work fine with minimal assistance which is of great help for ailing people. Medical emergencies are also witnessing surging numbers as accidents, wars and natural calamities are affecting people more than ever. Hospitals are offering more space for emergencies which directly fuels the need for such electrical beds. Healthcare sectors also work hard to provide comfort to patients suffering from life-threatening diseases which are ensuring the electrical hospital beds market growth. Furthermore, regions such as Asia Pacific (APAC) and the Middle East & Africa (MEA) with their revamping healthcare sector is giving rise to the demand.
Technological advancements can also be considered as a driving factor as it helps in the constant evolution of the sector. The constant demand for comfort in healthcare is triggering a chain reaction which gets followed by technological improvisations and resultantly increases the sale of electrical hospital beds and helps in the electrical hospital beds market expansion.
On the reverse, the high cost of these electrical hospital beds can prove to be a market deterrent. Many organizations in developing economies cannot afford such costly beds. Its maintenance is costly, all the more reasons for such organizations not ordering electrical hospital beds which can put a leash on the expected market growth.
Smart hospital beds are becoming popular with both patients and hospital authorities as it makes it easier for doctors and nurses to monitor patients with great efficacy. Growing integration of digitalization in the healthcare sector is further fueling the need for such beds. Developing regions are also gradually understanding the necessity for such beds all the while revamping their healthcare infrastructure.
By type, the global electrical hospital beds market can be segmented into semi-automatic bed and fully automatic bed. Fully automatic beds have a present market valuation of USD 1,029 million which can go up to USD 1,570.9 million by 2023 with the highest CAGR of 8.83% during the forecast period. Semi-automatic beds can expect a CAGR of 5.07% during the review period.
Based on type of treatment, the electrical hospital beds market includes critical care, acute care, and long-term care. Critical care segment is growing with the fastest CAGR of 8.03% during the forecast period to scale valuation of USD 1,020.6 million from USD 693.5 million in 2018. Acute care to follow the lead with an expected valuation of USD 865.4 million.
By application, the electrical hospital beds market comprises general purpose, intensive care, delivery/birthing, bariatric, pediatric, pressure relief, psychiatric care, and others. General purpose is leading the segment with an expected market valuation to rise from USD 588.3 million to USD 836.4 million by 2023 with a CAGR of 7.29% over the forecast period. Intensive care with a second-best valuation of USD 727.8 million by 2023 can record the fastest CAGR of 7.82% during the review period.
By end-user, the electrical hospital beds market can be segmented into hospital & clinics, reproductive care centers, dentistry, home, & others. Hospitals & clinics to lead the market with an anticipated market valuation of USD 1,028.5 million with a 7.25% CAGR by 2023. However, homecare segment to register the fastest CAGR of 8.81% during the forecast period.
Geographic analysis of the electrical hospital beds market includes Europe, America, Asia Pacific (APAC), and the Middle East & Africa (MEA).
Europe covers almost 34% of the market and is currently dominating the pack. Its estimated valuation in 2018 is USD 632.4 million which can go up to USD 906.4 million by 2023 at a CAGR of 7.46% during the forecast period (2018-2023). The region has better facilities and government show keen interest in the healthcare sector and invests substantially.
The Americas is the second with a projected market valuation of USD 772 million by 2023. Its superior infrastructure ensures such a growth. Meanwhile, the APAC is to register the fastest CAGR of 8.47% CAGR and can expect its valuation reaching up to USD 673.8 million. Emerging economies with their effort to revamp the healthcare sector are expected to boost the regional market growth. The MEA region will have a steady growth of CAGR 5.81% and can reach a valuation of USD 243.2 million.
Prominent players to influence the electrical hospital beds market are ArjoHuntleigh (Sweden), Invacare Corporation (U.S.), Hill Room Holding (U.S.), Medline Industries, Inc. (U.S.), Paramount Bed Holding Co., Ltd. (Japan), Stryker Corporation (U.S.), Gendron, Inc. (U.S.), Getinge AB (Sweden), Linet spol.s.r.o. (Czech Republic), Malvestio Spa (Italy), Amico Group of Companies (Canada), Midmark Corporation (U.S.), Merivaara Corporation (Finland), Span America Medical System, Inc. (U.S.), Famed Zywiec Sp.zo.o. (Poland), and others. Hill Room Holding is leading the market at present with 18.2% market share. Stryker Corporation comes next with 15.8% market share. Among the strategical implementations, new product launch takes up 62.7% of the entire market share. Paramount Beds launching of INTIME 1000 Series electric beds for general households can be considered exemplary. However, other strategies such as mergers and acquisition play a significant role as well. For instance, Medline in July 2018 announced acquisition of NeuroGym Technologies, a healthcare innovation company.
This table of content is tentative and subject to change as the research progresses.
Please Note: Financial details of company cannot be provided if the information of the company is not available in public domain and or reliable source.
Global Electrical Hospital Beds Market: Company Landscape
There are several industries working in the manufacturing and designing of hospital beds. Through extensive research, it is found out that market players have adopted the strategy of developing new advanced electrical hospital beds in the market. The key players involved in this strategy are Hill Rom, Inc., Invacare Corporation, LINET Spol. S R.O., and Stryker Corporation, among others. The number of key market players involved in distribution agreements and collaborations, business expansions, and others was comparatively low, apart from the big players. There are some other companies in the market such as ArjoHuntleigh, Gendron, Inc., Paramount Bed Holdings Co., and Medline Industries Inc., among others.
ArjoHuntleigh originally manufactured components and machine parts for other manufacturers, including medical devices. Arne Johansson was one of the first companies to understand the need for bathing and transfer equipment in healthcare, elderly care, as well as for improved ergonomics for healthcare professionals. He developed a series of innovative products that could meet these needs in Sweden. Shortly thereafter, ArjoHuntleigh started selling its products outside Sweden. The global demand for medical and healthcare is heavily influenced by global megatrends, which are expected to contribute to the attractive, long-term growth of the market.
Hill-Rom Holdings is one of the leading players in the market. The company also has its brand identity and a wide presence as it operates worldwide with a huge workforce. The company has a significant presence in the Americas, Europe, and many regions of Asia with commercial, manufacturing, and distributing facilities. Stryker Corporation, Linet spol. s r.o., Invacare Corporation, and ArjoHunteigh are some leading players in the global electrical hospital beds market.
Invacare Corporation is a leading manufacturer and distributor in its markets for medical products used in non-acute care settings. At its core, the company designs, manufactures, and distributes medical products that help people to move, breathe, rest, and maintain essential hygiene. The company provides medical product solutions for congenital (e.g., cerebral palsy, muscular dystrophy, spina bifida), acquired (e.g., stroke, spinal cord injury, traumatic brain injury, post-acute recovery, pressure ulcers), and degenerative (e.g., ALS, multiple sclerosis, chronic obstructive pulmonary disease (COPD), elderly, bariatric) ailments.
Paramount Bed Holding Co., Ltd. is the holding company of a comprehensive medical group comprised of the core entity Paramount Bed Co., Ltd. The Paramount Bed Group was established in 1947. The group started out as a manufacturer of hospital beds and against the subsequent backdrop of demographic aging, later it was branched out into senior care facilities and nursing care while developing a diversity of products and services. In the recent years, the Paramount Bed Group has been diversifying its operations in Japan and abroad centered on healthcare such as inspection and maintenance services for institutional bedding and wholesale rental operations for assistive products