Therapeutic Bed Market Projected to Surpass USD 4.1 Billion by 2024: Grand View Research, Inc.

Therapeutic Bed Market Projected to Surpass USD 4.1 Billion by 2024: Grand View Research, Inc.

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According to report published by Grand View Research, the growing geriatric population base coupled with the rising cases of obesity, chronic conditions, and viral infections are expected to boost therapeutic bed market growth over the forecast period.

According to a report,“Therapeutic Bed Market Analysis By Product (Clinical, Household, Accessories), By Type (Acute Care, Critical Care, Long-term) And Segment Forecasts To 2024”, published by Grand View Research, Inc., The global therapeutic bed market is expected to reach USD 4.1 billion by 2024. The growing geriatric population base coupled with the rising cases of obesity, chronic conditions, and viral infections are expected to boost market growth over the forecast period. 

Key Takeaways from the report:

  • The household bed segment is identified as the fastest growing. The growing penetration of home healthcare services for preventive care, post-operative care, and for long-term chronic therapies are expected to drive the growth over the forecast period.

  • Clinical beds have been further sub-segmented into regular, ICU, pediatric, birthing, bariatric, low air loss, and other beds. Bariatric beds are expected to gain the highest application in regions such as the U.S., Canada, the UK, and Germany due to the rising number of obese population.

  • North America is expected to dominate the overall market throughout the forecast period, owing to the presence of well-developed primary, secondary, tertiary care hospitals, the presence of a well-developed reimbursement network, government funding, and high public and private expenditure in the hospitals sector

  • Asia Pacific is anticipated to be the fastest growing region. The market is expected to grow at a CAGR of about 7.0% over the forecast period. The hospital to beds ratio is below the WHO standards in several Asia Pacific countries and the governments are investing significant resources to improve the healthcare infrastructure in this region.

  • Key players of the industry include Invacare Corporation, Hill-Rom, Inc., Stryker Corporation, ArjoHuntleigh, Gendron, Inc., Hard Manufacturing Co., Bakare, Medline Industries, Sunrise Medical, and GF Health Products, Inc. Most of these companies have been in the business for over a decade and are bringing in expertise and technological advancement that are expected to help them sustain over the forecast period.

  • In order to curb competition, major market players are working towards the acquisition of emerging entrants. For instance, in January 2015, Stryker Corporation acquired the assets of CHG hospital Beds, Inc., a privately held company to enhance the low height bed designs portfolio. 

North America clinical Therapeutic Bed Market, by product, 2014 – 2024 (USD Million)

 North America clinical Therapeutic Bed Market, by product, 2014 - 2024 (USD Million)

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As per the U.S. Bureau of Labor Statistics, the rank of home health aides and personal care aides is expected to increase to 13.0 million in 2020 (a 70.0% increase from 2010), thereby increasing the demand for home care. This growth is expected to increase the sale of household therapeutic beds and propel growth over the forecast period. Considering that the treatment costs at home are lower than other settings, many patients are now preferring home healthcare, thus, ultimately increasing the demand for therapeutic beds in these facilities. 

Another macro factor promoting the Therapeutic Bed Market is the increase in the volume of healthcare settings across the globe. With the help of this grant, 17 new hospitals and the expansion of 137 hospitals and primary health centers are anticipated, thereby increasing the sale of therapeutic beds. Similarly, in Qatar, the number of hospital beds is expected to rise from 4,980 in 2013 to 5,725 in 2018. These expansions are expected to create new avenues for market players to capitalize on. 

Grand View Research has segmented Therapeutic Bed Market on the basis of products, type, and region

Global Therapeutic Beds Product Outlook (Revenue, USD Million, 2014 – 2024)

  • Clinical Beds:

    • Regular Beds

    • ICU Beds

    • Pediatric Beds

    • Birthing Beds

    • Bariatric Beds

    • Low Air Loss Beds

    • Others

  • Household Beds

  • Accessories

Global Therapeutic Beds Type Outlook (Revenue, USD Million, 2014 – 2024) 

  • Acute Care

  • Critical Care

  • Long-term

Therapeutic Beds Regional Outlook (Revenue, USD Million, 2014 – 2024)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

  • Asia Pacific

    • Japan

    • China

  • Latin America

    • Brazil

    • Argentina

  • MEA

    • South Africa

    • Saudi Arabia

Explore therapeutic bed market research database, Navigate with Grand View Compass, by Grand View Research, Inc.

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

For more information: www.grandviewresearch.com

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