Global Therapeutic Bed market status and forecast, categorizes the global Therapeutic Bed market size (value & volume) by manufacturers, type, application, a
The global therapeutic bed market is anticipated to grow at significant CAGR during the forecast period (2018 to 2025), according to a report available on Radiant Insights, Inc. Growing number of geriatric population and rising cases of chronic disorders such as diabetes, cardiovascular diseases, and cancer can fuel demand for therapeutic beds. Such beds are likely to offer mattresses and beddings meant for medical purposes.
Rising number of population aged over 60 years liable to cardiac problems, spinal injuries, cancer, and neurological disorders can influence market growth. Growing awareness among people regarding wellness and health can augment growth of market in the forthcoming years. Continual technological advancements in therapeutic beds such as adjustable side railings, fiber body, automatic height adjustability, and light weight can fuel market growth during the forecast period (2018 to 2025).
To cater to rising demand for therapeutic beds, companies are focusing on R&D activities to develop innovative products for several medical facilities. For instance, Southwest medical center (SWMC) recently installed new set of therapeutic beds for its intensive care unit. These beds are expected to resolve issues related to critical settings. In addition, these beds can also offer better clinical outcomes and improved safety for patients admitted in ICU section. Moreover, these beds can increase patient safety, prevent ventilator related complications, and reduce pressure ulcers.
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Expensive pricing of therapeutic beds is anticipated to hinder growth of market in the forthcoming years. In addition, competitive rivalry among established market players can prevent new entrants from joining this market. This, in turn, can obstruct market growth during the forecast period. The therapeutic bed market can be segregated on the basis of type, application, and region. Based on type, the market can be categorized into critical care, acute care, and long-term care. In recent years, acute care segment accounted for remarkable market share. Multiple applications such as protection against complications, reduction in severity of mental illness, labor management can influence growth of segment.
On the contrary, critical segment is likely to witness significant growth during the forecast period. High prevalence of chronic disorders such as coronary heath diseases, which may require critical care and surgical removal can augment growth. Based on application, the therapeutic bed market can be classified into household and clinical. Clinical segment is expected to hold major market share owing to extensive demand for therapeutic beds for patients admitted in hospitals and other medical care centers.
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Regional segmentation includes Europe, Japan, India, Southeast Asia, China, Central & South America, and Middle East & Africa. In recent years, Europe dominated the market in terms of revenue share. Huge public funding in healthcare system to bring health settings such as primary care centers and hospitals can impel growth of market. In addition, growing cases of chronic diseases can also contribute well for market growth in the region. Moreover, increasing hospital admission rate owing to supportive reimbursement policies can augment market growth in the region.
In India, China, and Japan, the therapeutic bed market is anticipated to grow at phenomenal CAGR during the forecast period. Favorable initiatives from local government to deliver advanced healthcare access to maximum population. In addition, rising number of public and private hospitals can impel demand for therapeutic beds in these regions.
Some of the leading companies offering therapeutic beds are Stryker Corporation, Invacare Corporation, GF Health Products, Sunrise Medical, and Medline Industries. Most companies are likely to adopt strategies such as new product launch and mergers & acquisitions to maintain their market value.
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