Semi-electric Beds Segment to Account for Largest Share in Hospital Bed Market During 2022–2028
NEW YORK, UNITED STATES, November 29, 2022 /EINPresswire.com/ — Hospital beds are a critical component of healthcare facilities, regardless of the region or country. A wide range of hospital beds is available globally, allowing good infection control, offering enhanced ergonomics, comfort, safety, and easy use, and promoting effective risk management. Several factors, such as the rise in the elderly population associated with an increased risk of developing chronic diseases, increase the hospitalization rate.
The Hospital beds market is expected to grow from US$ 3,214.96 million in 2021 to US$ 4,688.96 million by 2028; it is expected to grow at a CAGR of 5.7% from 2022 to 2028.
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The growth of the market is defined by the key driving factors such as rising prevalence of chronic diseases and growing prevalence for highly equipped hospital beds with innovative features. Additionally, increasing popularity of smart hospital beds are likely to emerge as a significant future trend in the market during the forecast period. However, bedsores or pressure sores associated with hospital beds are likely to hinder the growth of the market during the forecast period.
Market leaders operating in the hospital bed market have undertaken various organic and inorganic growth strategies. The hospital bed market majorly consists of players such as GF Health Products, Inc., Invacare Corporation, Malvestio SpA, Stryker Corporation, Paramount Bed Holdings Co., Ltd., Span America (Savaria Corporation), STIEGELMEYER GMBH AND CO. KG, Hill Rom Holding Inc. (Baxter), Savion Industries, and Arjo Medical Devices and others.
Several organic approaches, such as product launches, and expansion in the hospital bed market, have resulted in the growth of the market. Likewise, inorganic strategies such as mergers & acquisitions, and collaboration have helped the company to strengthen its revenue, which allows the company to hold a strong position in the market.
Below is the list of the growth strategies done by the players operating in the hospital bed market:
In March 2021, Paramount Bed Holdings announced new product launch namely, “PARAMOUNT BED Global Channel” that will increase the company’s product awareness globally.
In December 2021, Baxter International, Inc., announced merger & acquisition with Hill-Rom. This acquisition unlocks the next phase of transformation, presenting a new wave of potential driving impact intended for patients, clinicians, employees, shareholders and other communities to serve globally.
In August 2018, Stryker announced partnership with Ascom for integrating Ascom Unite Software with Stryker’s iBed Wireless Smarthed system. The partnership sims to deliver Stryker iBed wireless notification to clinicians or doctors about patient safety risk condition such as patient fall.
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