Therapeutic Bed Industry Overview
The global Therapeutic Bed Market size is anticipated to reach USD 6.51 billion by 2030, registering a CAGR of 5.01% during the forecast period, according to a new report by Grand View Research, Inc. The increasing prevalence of chronic disorders, such as cancer, heart disorders, neurological disorders, kidney disorders, and others, and the growing geriatric population are the key driving factors for the market. According to the WHO, in 2020, the chronic illness prevalence increased by 57%, which is anticipated to spur market growth in the near future. The COVID-19 outbreak in 2020 increased the demand for therapeutic beds significantly.
The pandemic has boosted the demand for emergency supplies, medicines, and medical equipment, such as ventilators, and hospital beds, as a result of increased hospital admissions. In addition, firms are also adopting several strategies, such as collaborations and new product launches, to help healthcare workers. For instance, in August 2020, Project C.U.R.E. received 22,500 Emergency Relief Bed (ERB) sets from Stryker. A mattress, IV pole, and bed frame were included in the ERB kits. As a result, the market is likely to grow substantially in the near future.
Furthermore, pressure injuries are a common and significant economic challenge for healthcare systems globally, costing the U.S. healthcare system more than USD 23.50 billion each year. Various manufacturers began offering solutions, such as special beds, therapeutic mattresses, and repositioning solutions, to reduce the burden of pressure injuries. Moreover, after the onset of the COVID-19 pandemic, there has been extensive demand for pressure relief beds mattresses in hospitals and rehabilitation centers. These factors are expected to boost the market growth over the forecast period.
Therapeutic Bed Market Segmentation
Grand View Research has segmented the global therapeutic bed market on the basis of product, application, end-use, and region:
Based on the Product Insights, the market is segmented into Clinical Beds, Household Beds and Accessories.
- Clinical beds are further segmented into regular, ICU, pediatric, birthing, bariatric, low air loss beds, and others. The clinical beds' segment held the largest share of more than 48.5% in 2021.
- The household beds segment is expected to grow at the fastest CAGR during the forecast period. A rapid shift in consumer preferences toward long-term care settings along with the impact of the COVID-19 outbreak is expected to increase the demand for therapeutic beds.
Based on the Application Insights, the market is segmented into Acute Care Beds, Critical Care Beds and Long-term Beds.
- The acute care beds segment held the largest share of around 42.5% in 2021. Short-stay hospital beds, such as general pediatric, medical/surgical, psychiatric, obstetric, and other short-stay specialty beds, are referred to as acute care beds.
- The long-term beds' segment is expected to grow at the fastest CAGR during the forecast period. The technological advancements and growing prevalence of chronic conditions, such as coronary heart diseases, which at times require surgical removal critical care, are anticipated to boost the segment growth over the forecast period.
Based on the End-Use Insights, the market is segmented into Hospitals Clinics, Reproductive Care Centers and Others.
- The hospitals clinics segment dominated the market accounting for the largest revenue share of 47.19% in 2021. The growing aging population, high prevalence of chronic diseases, rising cases of hospitalization due to the COVID-19 pandemic, and an increasing number of well-furnished, well-equipped, advanced infrastructure hospitals are expected to propel the segment growth.
- The others segment is expected to grow at the fastest CAGR from 2022 to 2030. Elderly care facilities, emergency care, home care settings, and nursing institutions are some of the other end-use segments.
Therapeutic Bed Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa (MEA)
Key Companies Profile
Due to greater opportunities present in both developed and developing countries, companies are undertaking various strategic initiatives, such as mergers, acquisitions, and collaborations, for developing novel innovative solutions and expanding operations to increase their global presence. Distribution channel enhancement, new product development, and regional expansion are also among the key strategic undertakings influencing the industry dynamics.
Some prominent players in the global Therapeutic Bed market include
- Hill Rom, Inc. (Baxter)
- Stryker Corp.
- Invacare Corp.
- Medline Industries
- Medical Depot, Inc.
- GF Health Products, Inc.
- Centromed Ltd.
- Arjo
- Amico Group of Companies
- Bakare Beds Ltd.
- Gendron, Inc.
- Hard Manufacturing Company, Inc.
Order a free sample PDF of the Therapeutic Bed Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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