The Global Intensive Care Beds Market is Anticipated to Witness High Growth Owing to Rising Prevalence of Chronic Diseases

The Global Intensive Care Beds Market is Anticipated to Witness High Growth Owing to Rising Prevalence of Chronic Diseases

Global Intensive care beds market is a medical equipment that provides intensive medical supervision and care for critically ill patients who are suffering from critical medical conditions such as cardiovascular diseases and respiratory diseases. Intensive care beds are equipped with several medical devices like ventilators, cardiac monitors, transfusion pumps and oxygen supplies to treat patients with life-threatening injuries or illnesses. These beds help clinicians and nurses to easily access and tend to patients more efficiently. The growing burden of chronic diseases such as diabetes, cancer, and cardiovascular diseases has increased the demand for intensive care beds substantially.

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.

The high prevalence of chronic diseases and the increasing number of intensive care unit admissions is fueling the growth of the market. Moreover, technological advancements in intensive care beds by incorporating smart and digital features and growing demand for homecare medical devices are anticipated to provide lucrative opportunities for market players over the coming years.

Key Takeaways

Key players operating in the Global Intensive Care Beds 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 key opportunities in the market include growth in demand for multi-functional intensive care beds that enable treatment of various critical illnesses. Moreover, advancement in telemedicine and focus on digitalization provide opportunities for remote patient monitoring through intensive care beds.

In terms of global expansion, major players are focusing on Asian countries to tap the large patient pool. Additionally, companies are expanding their manufacturing facilities globally to cater to growing demand from hospitals and healthcare facilities.

Market Drivers and Restraint

The rising geriatric population suffering from age-related diseases is the major driver propelling the growth of the global intensive care beds market. According to WHO estimates, the number of people aged 60 years and older is expected to reach 2 billion by 2050 from 900 million in 2015. This elder population is more prone to critical illnesses requiring intensive medical care and ICU beds.

High costs associated with imported intensive care beds is a major challenge for their widespread adoption, especially in low and middle-income countries. Costly medical equipment not only burden healthcare budgets but also increase the financial liability of patients. This acts as a restraint on the growth of the global intensive care beds market.

Segment Analysis

The global intensive care beds market is dominated by the manual intensive care beds sub segment. Manual intensive care beds are preferred for daily use due to their lower cost and ease of handling compared to powered intensive care beds. They offer basic bed features like adjustable height, backrest, mattress, side rails etc. that meet the requirements of most non-critical care patients. The affordability of manual intensive care beds has made them the choice for general wards and single occupancy rooms in hospitals. They account for over 60% of the total intensive care beds market share currently.

Global Analysis

The Asia Pacific region holds the largest share in the global intensive care beds market currently. The increasing healthcare expenditure, rising medical tourism, and growing number of hospitals in countries like China, India are driving the demand for intensive care beds in the Asia Pacific region. It is estimated to be the fastest growing region during the forecast period till 2031, expanding at a CAGR of over 9%. North America holds the second largest market share and Europe stands third. However, the Europe intensive care beds market is expected to witness strong growth in the coming years led by factors such as an aging population, advancement in ICU infrastructure and rising incidence of chronic diseases. South America and Middle East & Africa are emerging as lucrative regions with growing healthcare sectors in various countries.

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?

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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)