The global electric bed market is poised for robust growth, with a forecasted market size of approximately US$4.7 billion by the end of 2030, according to a recent report by Fairfield Market Research. The market is expected to achieve a steady Compound Annual Growth Rate (CAGR) of 7.2% during the period from 2023 to 2030.
Key Trends Driving Market Growth
Several key trends are propelling the electric bed markets expansion:
- Technology Innovations in ICU Beds: Innovations in intensive care unit (ICU) beds are revolutionizing patient care in critical care settings. These advancements include advanced monitoring systems, integrated electronic health records, and smart bed designs. They enhance patient safety, comfort, and treatment efficacy by offering features like automated patient positioning, pressure redistribution, and remote monitoring capabilities.
- Increasing Number of Beds in Private Hospitals: Private healthcare facilities worldwide are investing in premium medical equipment, including electric beds, to enhance patient comfort and provide advanced features. This trend is driven by the increasing demand for private healthcare and the need for state-of-the-art medical equipment.
- Growing Trend of Homecare: The rising trend of home care is spurring the demand for electric beds with adjustable features, remote controls, and enhanced accessibility. Electric beds enable better patient care and support for caregivers in home settings, with the COVID-19 pandemic accelerating this trend.
Challenges and Opportunities
The electric bed market faces challenges related to the low adoption rate in home healthcare settings and the declining number of beds in public hospitals. Overcoming these challenges requires increased awareness, affordability, and improved accessibility to electric beds in home healthcare settings.
However, opportunities abound with trends such as IoT integration, telehealth integration, and enhanced patient monitoring technology. These innovations are reshaping the market by offering real-time data collection, remote monitoring, and improved patient care.
Regional Highlights
- North America: Retains its leadership position in the electric bed market due to a well-established healthcare infrastructure, technological advancements, and a growing ageing population. Favorable reimbursement policies and government initiatives also contribute to its dominance.
- Asia Pacific: Experiencing the fastest CAGR in the electric bed market due to a burgeoning population, increasing healthcare investments, improving healthcare infrastructure, and rising awareness of patient comfort.
Fairfield Market Research Expectations
Fairfield Market Research anticipates further consolidation in the electric bed market as key players introduce new products and enhance their global presence through improved distribution channels.
Global electric bed Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 (By Operation Coverage, By Application Coverage, By End User Coverage, By Geographic Coverage and By Company) https://www.fairfieldmarketresearch.com/report/electric-bed-market
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This press release first seen on Brilad
COMTEX_443574578/2840/2023-11-16T14:24:21
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