The global medical bed market is projected to USD 3.41 Billion by 2022 from USD 2.59 Billion in 2017, growing at a CAGR of 5.6% during the forecast period (2017-2022).
Factors such as increasing investments in healthcare infrastructural development, technological innovations in ICU beds, increasing number of beds in private hospitals, and increasing volume of chronic care patients are expected to drive the growth of the medical beds market in the coming years. On the other hand, the declining number of beds in public hospitals may limit market growth to a certain extent.
The medical bed market is segmented on the basis of type, application, end user, usage, and region. Based on usage, the market is segmented into major four categories acute care, psychiatric care and bariatric care, long-term care, and other beds (maternity and rehabilitative beds). The long-term care segment is expected to have the fastest-growing market during the forecast period owing to the increasing number of patients requiring long-term care.
Based on application, the market is segmented into two categories intensive care and non-intensive care. In 2017, the intensive care segment is expected to account for the largest share of the market owing to increasing number of geriatric patients requiring critical care. On the basis of type, the medical bed market is segmented into manual beds, semi-electric beds, and electric beds. The electric beds segment is expected to dominate the medical beds market in 2017. Increasing number of patients requiring bariatric care as well as growing geriatric population are the factors driving the growth of this segment.
On the basis of end user, the market is segmented into home care settings, hospitals, elderly care facilities. The hospitals segment is expected to account for the largest share of the market in 2017. However, the home care settings segment is expected to have the fastest growth rate in the forecast period. This can be attributed to increasing government support to decrease the length of stay of patients inside hospitals.