Healthcare Smart Beds Market Size Worth $740.6 Million By 2028: Grand View Research, Inc.

SAN FRANCISCO, May 19, 2021 /PRNewswire/ -- The global healthcare smart beds market size is expected to reach USD 740.6 million by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.6% from 2021 to 2028. Hospital beds are the most utilized component in hospitals. Patients spend extended periods of time on these beds, which makes it vital for hospitals, nursing homes, and other healthcare settings to ensure the quality and comfort of these beds in order to aid the fast recovery of patients. The introduction and incorporation of smart technologies in hospital beds in recent years have greatly assisted nursing and healthcare staff in recording, monitoring, and analyzing minute details of the patients' health for effective patient care.

Key suggestions from the report:

• By application, the hospitals segment is projected to expand at the fastest CAGR in terms of revenue as well as volume from 2021 to 2028 owing to the rising incidences of in-patient admissions due to chronic ailments, such as cancer, kidney failure, and heart diseases
• In terms of revenue, North America dominated the market by accounting for over 55.0% share in 2020. This is attributed to the augmented usage of healthcare smart beds in acute care or long-term care facilities
• Europe is projected to expand at the fastest revenue-based CAGR of 7.8% from 2021 to 2028 owing to the increasing demand for better healthcare among the aging population and growing investment in smart technologies

Read 80 page research report with ToC on "Healthcare Smart Beds Market Size, Share & Trends Analysis Report By Application (Hospitals, Outpatient Clinics, Medical Nursing Homes, Medical Laboratory & Research), By Region, And Segment Forecasts, 2021 - 2028" at: https://www.grandviewresearch.com/industry-analysis/healthcare-smart-bed-market 

There has been a rising demand for precise and rapid medical care across the globe and early detection of any changes in vital signs is crucial for the proper monitoring of the patient. These medical smart beds are becoming an important resource in assisting medical teams for the continuous monitoring of patients and numerous studies have shown their efficacy in healthcare settings. A recent study conducted by Harvard Medical School highlighted that the use of smart beds could help in reducing code blue events by 86% and as a result, this reduces the average stay of ICU patients who have been transferred from the surgical unit by 45%.

With the rising demand for comfort in hospitals, increasing healthcare expenditure, and emerging technological advancements, the demand for smart beds is also rising across the healthcare sector. Smart beds are integrated with sensors and control panels that monitor and relay the vitals of patients for timely intervention. Home healthcare has been gaining significant traction across the globe as it helps save considerable costs for patients. A majority of the cost of hospital treatments is associated with high-quality facilities and amenities at the hospitals. This is driving families of patients with chronic illnesses to invest in smart beds so that they can take care of the patients from the comfort of their own homes without any additional cost.

Companies are introducing new innovative products to address the evolving needs of hospitals and gain a competitive edge over other manufacturers. For instance, in October 2020, Stryker launched a new smart bed called ProCuity, which is a completely wireless hospital bed with a number of smart patient monitoring features. ProCuity has been incorporated with Stryker's Secure Connect technology, which helps in providing a wireless method to connect to nurse call systems. The nurse call system helps in streaming parameters such as bed configuration, exit alarms, the position of side rails, and movement to hospital information systems (HIS). This helps in keeping a note of all important readings and observe the changes.

Grand View Research has segmented the global healthcare smart beds market on the basis of application and region:

• Healthcare Smart Bed Application Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2028)
• Hospitals
• Outpatient Clinics
• Medical Nursing Homes
• Medical Laboratory and Research
• Healthcare Smart Bed Regional Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2028)
• North America
• U.S.
• Europe
• Germany
• U.K.
• France
• Italy
• Spain

List of Key Players of Healthcare Smart Beds Market

• Stryker Corporation
• Hill-Rom Holdings Inc.
• Invacare Corporation
• Paramount Bed Holdings Co., Ltd.
• LINET
• Joerns Healthcare LLC
• Stiegelmeyer GmbH & Co. KG
• Arjo
• Völker GmbH
• Favero Health Projects SpA

Find more research reports on Electronic & Electrical Industry, by Grand View Research:

• Smart Bed Market– The global smart bed market size was valued at USD 2.17 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 4.5% from 2020 to 2027.
• Electronic Health Records Market– The global electronic health records market size was valued at USD 26.8 billion in 2020 and it is expected to witness a compound annual growth rate (CAGR) of 3.7% from 2021 to 2028.
• Therapeutic Bed Market– The global Therapeutic Bed Market size was valued at USD 2.6 billion in 2015 and is expected to grow at a CAGR of 5.3% over the next eight years.

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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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