Therapeutic Bed Market Size, Share & Trends Analysis Report By Product (Clinical, Household Beds), By Application (Acute Care, Critical Care Beds), By End Use, By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global therapeutic bed market size was valued at USD 4.22 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.01% from 2022 to 2030. Key drivers expected to contribute to market growth include the rising geriatric population, an increase in disease burden, high unmet medical needs in emerging & low-growth economies, and a rise in public & private healthcare expenditure to improve the number of beds to patients ratio. Moreover, the rising demand for bariatric surgeries, ambulatory surgeries, inpatient surgeries, and critical care services for preoperative and postoperative procedures is also expected to boost the market over the forecast period.

The global need for therapeutic beds has risen significantly as a result of the COVID-19 outbreak and increased hospital admissions. Beginning in March 2020, the surge in COVID-19 patients significantly impacted hospitals. In addition, the change from standard beds to specialty COVID-19 beds with additional hygiene measures, as well as pressure on the number of beds, which originated primarily from the need to anticipate sufficient capacity in the ICU, have all contributed to market growth. As a result, the sales of therapeutic beds significantly increased during the pandemic. According to the FDA, in October 2020, there was a high demand for mattresses, hospital beds, and stretchers to enhance capacity in healthcare systems & local hospitals via temporary expansion sites.

To address the same, manufacturers from several industries, who are not traditionally associated with medical devices manufacturing used resources to market and produce these devices for the healthcare community, which, in turn, augmented the market growth. The prevalence of chronic diseases, such as urological disorders, cancer, Cardiovascular Disorders (CVDs), neurovascular diseases, and other chronic problems, is increasing, resulting in a considerable rise in hospital admission rates, which is expected to boost the market growth. Moreover, as a result of high blood pressure, obesity, and smoking, a large percentage of the population is currently in danger of developing chronic diseases.

According to the WHO, chronic diseases are responsible for 60% of all fatalities worldwide, and every year, 17.9 million people die as a result of cardiovascular disorders. According to the same source, cancer is the leading cause of death globally, accounting for nearly one in every six deaths. As a result, increasing hospitalization, coupled with an increase in chronic illnesses, is likely to boost therapeutic bed installations, resulting in market growth. Furthermore, the increasing number of obesity cases is also anticipated to boost the market growth. Bariatric beds are specifically designed to handle obese patients.

The incidence of obesity has increased significantly in the past few years, especially among the aged groups. For instance, as per the WHO, in 2016, more than 1.9 billion adults were overweight, out of which, around 650 million people were obese. These factors are expected to increase the demand for bariatric procedures. As per the report published by the CDC in 2020, the rates of obesity rose considerably among adults from 33.7% to 39.6% between the years 2015 & 2016 and 2019 & 2020. During this time, the rates of severe obesity also increased from 5.7% to 7.7%. China dominated the regional market in 2021.

The rising geriatric population in China and government initiatives to increase safety during treatment are among the key factors projected to drive the adoption of therapeutic beds. Furthermore, the ongoing expansion of medical infrastructure and increased government & private sector investments to promote the use of safer & more cost-effective healthcare solutions are among the factors driving the market growth. According to the National Health Commission, there were around 12,000 public hospitals and 21,000 private hospitals in 2018, with approximately 20,500 nonprofits and 12,600 for-profit institutions (excluding township and community hospitals). This is expected to create considerable opportunities for market players during the forecast period.

Product Insights

On the basis of product, the market has been segmented into clinical beds, household beds, and accessories. Clinical beds are further segmented into regular, ICU, pediatric, birthing, bariatric, low air loss beds, and others. The clinical beds' segment held the largest share of more than 48.5% in 2021. High ICU admission rates owing to an increase in the number of accidents, growth in the aging population, and outbreaks of life-threatening infectious diseases are driving the segment. Clinical therapeutic beds are specially designed beds intended to be used in controlled clinical environments, such as nursing homes, diagnostic laboratories, and outpatient clinics. These beds have features, such as electronic elevation, side railings, and wheels, which further enable portability, height adjustment, and patient protection.

The overall objective of these beds is to provide greater comfort to patients and improve healthcare delivery. However, the household beds segment is expected to grow at the fastest CAGR during the forecast period. A rapid shift in consumer preferences toward long-term care settings along with the impact of the COVID-19 outbreak is expected to increase the demand for therapeutic beds. In addition, the rising geriatric population and technological advancements along with the increasing prevalence of chronic disorders are driving the segment. Household beds are intended to be used in non-clinical settings, such as assisted living facilities, hospice, and home care settings. These beds are intended for use in the long-term recovery of patients, especially in post-surgical recoveries.

End-use Insights

On the basis of end-use, the market is segmented into hospitals & clinics, reproductive care centers, and others. The hospitals & clinics segment dominated the market accounting for the largest revenue shareof47.19% in 2021. The growing aging population, high prevalence of chronic diseases, rising cases of hospitalization due to the COVID-19 pandemic, and an increasing number of well-furnished, well-equipped, & advanced infrastructure hospitals are expected to propel the segment growth. Hospitals offer superior care to patients and provide reimbursements for certain procedures, which are further contributing to the segment growth.

Hospitals also witness a significantly high inflow of patients for a number of surgeries, such as bariatric surgery, as compared to other healthcare settings, owing to the availability of a broad range of treatment options and ease of handling any emergencies that may arise during surgical procedures. On the contrary, the others segment is expected to grow at the fastest CAGR from 2022 to 2030. Elderly care facilities, emergency care, home care settings, and nursing institutions are some of the other end-use segments.

The reducing length of hospital stay shifts the focus to home healthcare, emergency care, and other facilities. The increasing demand for home healthcare for postsurgical recovery and other long-term ailments is anticipated to help in reducing the length of stay. This method reduces all the hassles hospitals have to go through inpatient management and also lowers the cost for patients. Thus, the shifting focus toward home care settings, emergency, and other facilities is boosting the sales of specialized beds, thereby driving the market growth.

Application Insights

On the basis of application, the market has been segmented into acute care-based therapeutic beds, critical care-based therapeutic beds, and long-term-based therapeutic beds. The acute care beds segment held the largest share of around 42.5% in 2021. Short-stay hospital beds, such as general pediatric, medical/surgical, psychiatric, obstetric, and other short-stay specialty beds, are referred to as acute care beds. This can be attributed to their multifunctional applications, such as managing labor (maternity), reducing the severity of mental illness, protecting against exacerbation or complications, and performing diagnostic or therapeutic procedures. Moreover, the segment growth is driven by an increase in the number of accidents, which would lead to more hospital admissions for emergency and elective care.

However, the long-term beds' segment is expected to grow at the fastest CAGR during the forecast period. The technological advancements and growing prevalence of chronic conditions, such as coronary heart diseases, which at times require surgical removal & critical care, are anticipated to boost the segment growth over the forecast period. Long-term assistance patients who require long-term care due to chronic disabilities and a diminished level of independence in everyday activities are accommodated in therapeutic beds. According to an article published by Kaiser Family Foundation in January 2020, long-term care facility costs accounted for the majority of Medicare beneficiaries’ yearly out-of-pocket spending. Furthermore, the growing geriatric population in countries, such as India and China, as well as an increasing number of hospital admissions, are projected to drive segment growth.

Regional Insights

Europe accounted for the largest revenue share of more than 35.5% in 2021. Europe is one of the most developed regions globally with advanced technologies & well-established infrastructure. Market growth in this region can be attributed to the increasing number of road accidents & surgical procedures, the presence of various key players, and the introduction of technologically advanced products. According to the EU’s Annual Accident Report 2021 published by the European Road Safety Observatory, an estimated 18,800 people died in road accidents in the previous year, accounting for a 17% decrease from the previous year. This means that in 2021, over 4,000 fewer persons died due to road accidents in Europe than in 2020.

The availability of robust distribution channels and ease of access to healthcare technologies are among the key factors encouraging product adoption in Europe. Moreover, the impact of COVID-19 is expected to boost market growth. Over 2.7 million patients have been hospitalized due to COVID-19 in Europe alone since the start of the pandemic. The Asia Pacific region is anticipated to witness a robust growth rate over the forecast period. Increasing per capita income, rapid economic development, and the presence of high unmet needs of the huge population pool in this region are expected to contribute to its growth.

Emerging economies, such as India and China, are the most lucrative markets due to increasing patient pool, improving public & private reimbursement infrastructure, and constant development of healthcare facilities. Increasing awareness about rehabilitation equipment, a growing number of physicians, and supportive government programs & policies are expected to boost the growth of the APAC regional market. In addition, a rise in the number of hospitalizations and advancements in the clinical development framework of developing economies are projected to drive the market further.

Key Companies & Market Share Insights

Due to greater opportunities present in both developed and developing countries, companies are undertaking various strategic initiatives, such as mergers, acquisitions, and collaborations, for developing novel innovative solutions and expanding operations to increase their global presence. Distribution channel enhancement, new product development, and regional expansion are also among the key strategic undertakings influencing the industry dynamics. For instance, in December 2021, Baxter International, Inc., a global medical technology company, acquired Hill-Rom to create new opportunities for innovation, which will help reduce costs and improve care outcomes across the board.

In October 2020, Stryker launched the industry’s first and only complete wireless hospital bed called ProCuity globally. This smart bed was created to reduce in-hospital patient falls at all levels of acuity, increase nursing workflow efficiencies & safety, and help hospitals save money. It is currently the only bed in the market that can effortlessly link to nurse call systems without the use of cables or wires. Thus, such advancements are expected to drive market growth over the forecast period. Some prominent players in the global therapeutic bed market include:

• Hill Rom, Inc. (Baxter)

• Stryker Corp.

• Invacare Corp.

• Medline Industries

• Medical Depot, Inc.

• GF Health Products, Inc.

• Centromed Ltd.

• Arjo

• Amico Group of Companies

• Bakare Beds Ltd.

• Gendron, Inc.

• Hard Manufacturing Company, Inc.

Therapeutic Bed Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global therapeutic bed market report on the basis of product, application, end-use, and region:

• Product Outlook (Revenue, USD Million, 2017 - 2030)

  • Clinical Beds

    • Regular Beds

    • ICU Beds

    • Pediatric Beds

    • Birthing Beds

    • Bariatric Beds

    • Low Air Loss Beds

    • Others

  • Household Beds

  • Accessories

• Application Outlook (Revenue, USD Million, 2017 - 2030)

  • Acute Care Beds

  • Critical Care Beds

  • Long-term Beds

• End-use Outlook (Revenue, USD Million, 2017 - 2030)

  • Hospital & Clinics

  • Reproductive Care Centers

  • Others

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Spain

    • Italy

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Colombia

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE