ICU Beds Market accounted USD 3.7 Billion in 2019 and is expected to grow with a CAGR of 4.3%

The report “ICU Beds Market, By Type, By Application – Trends, Analysis and Forecast till 2027”.

ICU (Intensive Care Unit) Beds Market is a segment of the medical equipment market that deals with specialized beds for patients who require intensive care. These beds are designed with advanced features that help in the management and monitoring of critically ill patients. ICU beds provide various functions such as adjustable height, trendelenburg and reverse trendelenburg positions, head and foot adjustments, and side railings for patient safety. Market for ICU beds is driven by an increase in the number of critically ill patients, advancements in healthcare infrastructure, and the rising prevalence of chronic diseases. Moreover, the growing demand for home care settings and an increase in the number of private hospitals and clinics have also contributed to the growth of the ICU beds market.

Competitive Landscape:

The prominent player operating in the global ICU beds market includes;

Stryker Corporation
Hill-Rom Holdings, Inc.
Getinge AB
Invacare Corporation
Malvestio S.P.A.
Span-America Medical Systems, Inc.
Medline Industries, Inc.
Linet Spol. S.R.O.
Stiegelmeyer GmbH & Co. Kg
Merivaara Corp.

The market provides detailed information regarding industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory framework across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included into the report.

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Key Highlights:

In April 2020, Stryker introduced a minimal cost, limited release emergency response bed to help healthcare providers with efficient care during the COVID-19 pandemic. The company aims to produce 10,000 beds per week thereby, propelling the market growth.
In March 2020, Hillrom expanded its production of ICU and med-surg unit smart beds by two-fold. The increase in the production will help hospitals to increase their ICU capacity for the treatment of coronavirus affected people thereby, expanding the market size.

Key Market Insights from the report:

The global ICU beds market accounted for US$ 3.7 billion in 2019 and is estimated to be US$ 5.6 billion by 2027 and is anticipated to register a CAGR of 4.3%. The market report has been segmented on the basis of type, application, and region.

By type, the manual beds segment was estimated for about US$ 570 million in 2019 and is projected to account for substantial growth rate over 2020 to 2027. The manual ICU beds require minimum manufacturing costs and are less expensive as compared to other ICU beds.
Byapplication, mobile intensive care unit is expected to rise at the maximum CAGR of 9.6% in the coming years, owing to its well-equipped facilities to comfort the patient in the ambulance. Growth in the use of mobile intensive care unit globally is driving the growth of the market.
By region, in North America, U.S. dominated the ICU beds market in 2019. Currently, rapid growth in the COVID-19 cases will expand the need for hospital admissions, thereby creating demand for intensive care beds over the forecast period.

Analyst View:

Growing number of COVID-19 patients demanding intensive care

Rapidly increasing confirmed cases of coronavirus disease are directing the healthcare market to prepare for the tasks associated with this pandemic. Hence, COVID-19 affected economies are continuously focusing on expanding their ICU bed ability that will help support the market growth. According to recent news article, patient suffering from coronavirus mainly needs an average treatment of 15 days in intensive care units. Therefore, increasing COVID-19 cases will drive the target market growth in the coming years. Additionally, the demand for new ICU beds in hospitals will also increase in the near future.

Rising demand for ICU beds from the hospitals and ICUs

The hospitals segment was estimated for about US$ 800 million and is expected to register considerable growth over the forecast period. Increasing growth in the number of hospital admissions and growing ratio of ICU beds to hospital beds are some of the major factors boosting the growth of the global ICU beds market. For instance, as per the recently published report by Centre for Evidence-Based Medicine, in UK, the number of people admitted to hospitals with suffering from coronavirus ranked above 100,000.

Scope of Report:

Global ICU Beds Market, By Type, 2020 – 2027, (US$ Mn)

- Overview
  - Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2027
  - Y-o-Y Growth Analysis (%), 2020 – 2027
  - Segment Trends
- Electric Beds
  - Overview
  - Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2027
- Semi-Electric Beds
  - Overview
  - Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2027
- Manual Beds
  - Overview
  - Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2027

Global ICU Beds Market, By Application, 2020 – 2027, (US$ Mn)
- Overview
  - Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2027
  - Y-o-Y Growth Analysis (%), 2020 – 2027
  - Segment Trends
- Neonatal Intensive Care Unit
  - Overview
  - Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2027
- Pediatric Intensive Care Unit
  - Overview
  - Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2027
- Psychiatric Intensive Care Unit
  - Overview
  - Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2027
- Cardiac Intensive Care Unit
  - Overview
  - Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2027
- Neurological Intensive Care Unit
  - Overview
  - Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2027
- Trauma Intensive Care Unit
  - Overview
  - Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2027
- Post-Operative Recovery Unit
  - Overview
  - Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2027
- High Dependency Unit
  - Overview
  - Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2027
- Surgical Intensive Care Unit
  - Overview
  - Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2027
- Mobile Intensive Care Unit
  - Overview
  - Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2027

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Regional Scope:

North America – U.S., Canada

Europe – UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific – Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America – Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa – South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

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