by Intensive care beds are specially equipped hospital beds used in critical care units such as intensive care units (ICUs), neonatal intensive care units (NICUs), cardiac care units, etc. for supporting seriously ill patients. ICU beds are equipped with specialized features like adjustable height and position, manual or electric controls, bed rails, built-in scales, cardiopulmonary resuscitation (CPR) functions, monitoring systems integration, and nurse call systems to provide enhanced care to critically ill patients. Intensive care beds help health professionals easily access and monitor patients, and perform procedures and therapeutic interventions conveniently. They aid in infection control and improve patient safety in healthcare facilities. The need for intensive care beds is increasingly driven by the rising prevalence of chronic and life-threatening health conditions worldwide.
The Global Intensive Care Beds Market Size is estimated to be valued at US$ 3.45 Bn in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the Global Intensive Care Beds Market are Stryker Corporation, Invacare Corporation, Hill-Rom Holdings, Inc., Getinge AB, Medline Industries, Inc., Stiegelmeyer GmbH & Co. Kg., Linet Spol. S.R.O., Merivaara Corp., Malvestio S.P.A, Nitrocare, DSV Panalpina A/S (Span-Amerca Medical Systems. Inc.), Amico Group of Companies, Midmark Corporation, Favero Health Projects Spa, Savion Industries, MESPA, Baxter, Narang Medical Limited., Arjo, PARAMOUNT BED CO., LTD., and Gita Mediquip PVT. LTD.
The development of multifunctional beds with advanced features and integration of medical devices and IT solutions offer lucrative growth opportunities. Additionally, increasing demand from emerging countries of Asia Pacific and Latin America due to improving healthcare infrastructure and rising medical tourism are expected to drive the market during the forecast period.
Globally, North America dominates the intensive care beds market due to the increasing incidence of chronic diseases such as cancer, cardiovascular diseases, etc. and well-established healthcare infrastructure. However, Asia Pacific is anticipated to witness the fastest growth owing to growing investments to enhance healthcare systems, rising medical tourism, and increasing disposable incomes.
Market Drivers
The rising prevalence of chronic diseases such as cancer, cardiovascular diseases, respiratory diseases, neurological disorders, etc. globally is a key factor driving the demand for intensive care beds. As per the World Health Organization (WHO), chronic diseases accounted for almost 60% of the 57 million global deaths in 2020. Furthermore, growing geriatric population who are more prone to critical health conditions also aids the market growth. Other factors including increasing healthcare expenditures, technological advancements, and rising medical tourism are expected to propel the intensive care beds market over the forecast period.
PEST Analysis
Political: Intensive care beds market is regulated by various government regulations and standards related to medical devices and hospital infrastructure. Manufacturers have to abide by product quality and safety standards set by regulatory bodies.
Economic: Growth in intensive care beds market is driven by rising healthcare expenditures, increasing demand for quality healthcare services and expanding hospital infrastructure in developing nations. Fluctuations in currency exchange rates affect profits of multinational market players.
Social: Growing elderly population, increase in prevalence of chronic diseases, rise in number of trauma & accident cases are key social factors propelling demand for intensive care beds. Rapid urbanization and changing lifestyles also influence market growth.
Technological: Companies are innovating in terms of integrating advanced features like adjustable beds, monitoring systems into intensive care beds. Growing penetration of digital technologies facilitates remote patient monitoring and aids in efficient ICU management.
Around 40% of the global intensive care beds market value is concentrated in North America due to well-established healthcare infrastructure and high healthcare spending in countries like US and Canada. Europe accounts for over 30% share due to supportive government policies for public healthcare in nations such as Germany, UK, France. Asia Pacific represents the fastest growing region stimulated by increasing healthcare investments, rising medical tourism and expanding population base in countries such as India, Japan and China. Lack of advanced medical facilities in underdeveloped areas of Africa and Latin America limit market potential currently but investments in modern hospitals are increasing.
Latin America witnesses steady growth propelled by efforts of governments to strengthen public health systems through policies like universal healthcare in Brazil. Countries such as Brazil and Mexico are major contributors in the region. Middle East & Africa present lucrative prospects for vendors over the coming years supported by initiatives for healthcare infrastructure development coupled with rapidly developing economies across GCC region. Demand in GCC nations including Saudi Arabia and UAE is significant currently.
What Are The Key Data Covered In This Global Intensive Care Beds Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Global Intensive Care Beds’s growth between 2024 and 2031.
:- Accurate calculation of the size of the Global Intensive Care Beds and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Global Intensive Care Beds Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Global Intensive Care Beds vendors
FAQ’s
Q.1 What are the main factors influencing the Global Intensive Care Beds?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Global Intensive Care Beds companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Global Intensive Care Beds’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Author Bio:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
