Therapeutic Bed Market Size, Share & Trends Analysis Report By Product (Clinical Beds, Household Beds, Accessories), By Application (Acute Care Beds, Critical Care Beds, Long-term Beds), By End-use, By Region, And Segment Forecasts, 2023 - 2030

Research Methodology

A three-pronged approach was followed for deducing the therapeutic bed market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for therapeutic bed market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of therapeutic bed market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Therapeutic Bed Market Categorization:

The therapeutic bed market was categorized into four segments, namely product (Clinical Beds, Household Beds, Accessories), application (Acute Care Beds, Critical Care Beds, Long-term Beds), end-use (Hospital & Clinics, Reproductive Care Centers), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The therapeutic bed market was segmented into product, application, end-use, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The therapeutic bed market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-three countries, namely, the U.S.; Canada; the UK, Germany; France; Italy; Spain; Denmark; Sweden; Norway; Japan; China; India; Australia; South Korea; Thailand; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE; Kuwait.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Therapeutic bed market companies & financials:

The therapeutic bed market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• HILL-ROM SERVICES, INC. (BAXTER) - Hill-Rom Services, Inc. is a prominent player in the medical technology industry, specializing in the design, development, and global marketing of medical devices. The company’s operations are divided into three main segments: Patient Support Systems, Front Line Care, and Surgical Solutions. The Front Line Care segment provides patient monitoring and diagnostic products, including stethoscopes, ophthalmoscopes, otoscopes, diagnostic cardiology, and audiometers from Welch Allyn. It also offers respiratory care products for sale and rent to diagnose and treat various illnesses and diseases. These products are distributed globally across various clinical care settings, including primary care, acute care, extended care facilities, and home care. Hill-Rom’s sales and rental services extend directly to patients at home through its direct sales force and authorized distributors.

• ARJOHUNTLEIGH (ARJO) - ARJO, a subsidiary of Getinge Group, operates globally in the medical device industry. Its primary areas of business encompass solutions for patient transfer, vascular therapy, therapeutic support systems, medical beds and couches, disinfectants, hygiene systems, and diagnostics. The patient transfer division offers a range of products including ceiling lifts, aids for standing and raising, passive floor lifts, slings, and solutions for lateral patient transfer. The vascular therapy division focuses on products designed to prevent venous thromboembolism. Lastly, the hygiene division provides shower and bath systems, hygiene lifters, solutions for burns treatment, and a comfort collection for hygiene.

• STRYKER - Stryker is a company that specializes in the creation and sale of products and services based on medical technology. It operates in three main areas: MedSurg, Orthopedics, and Neurotechnology & Spine. The Neurotechnology & Spine division provides products such as neurosurgical, neurovascular, and spinal implant devices. This division generates revenue through owned distribution channels in countries such as the U.S., China, the Netherlands, Switzerland, and France, as well as leased outlets in Ireland and the U.S. The MedSurg division, which is the company’s second-largest, includes instruments, medical, endoscopy, and sustainability solutions. The Orthopedics division provides products such as implants used in hip and knee joint replacements and trauma surgeries. Stryker’s products are sold in over 80 countries via its branches, subsidiaries, distributors, and third-party dealers to doctors, hospitals, and other healthcare facilities.

• INVACARE CORPORATION - Invacare Corporation specializes in medical products for long-term and home care, designed to enhance recovery and support an active lifestyle. As a distributor and manufacturer, the company provides nonacute medical equipment and respiratory products. It boasts a global distribution network spanning 80 locations and is recognized for introducing a motorized wheelchair with computerized controls. Its range of products encompasses beds and furnishings, powered mobility devices such as wheelchairs and scooters, as well as seating and positioning products.

• MEDLINE INDUSTRIES, INC. - Medline Industries, Inc. is a company that manufactures and distributes medical products and services. It has a presence in various sectors such as integrated delivery networks, acute care, long-term care, surgery centers, life sciences, home health, physician offices, hospices, assisted living, managed care, consumer products, and emergency medical services. With over 45 centers and 20 manufacturing sites throughout North America, and operations in over 125 countries, Medline Industries has a broad reach. In 2019, the company reported total sales of USD 17.5 billion.

• GF HEALTH PRODUCTS, INC.  - GF Health Products, Inc., also known as “Graham-Field”, is a company that specializes in the production of a diverse array of medical equipment and products. With a portfolio of over 50,000 devices, their products are utilized in various settings such as extended care facilities, hospitals, clinics, and home care centers. Their offerings are designed to improve the quality of care and life. Graham-Field operates in more than 67 countries and is a prominent manufacturer and distributor of medical equipment in regions such as Latin America, Europe, and Asia. The company is associated with major brands including Lumex, John Bunn, Everest & Jennings, Basic American/Simmons Clinical Care, Labtron, and Grafco. Their product range includes manual power & folding wheelchairs, healthcare seating products, beds, and patient room furnishing & respiratory products.

• HARD MANUFACTURING COMPANY INC. - HARD Manufacturing Company, Inc. is a renowned global producer of pediatric beds and cribs, catering to hospitals, home care, daycare, and various other healthcare organizations. The company prides itself on providing excellent customer service and offers an extensive selection of products to fulfill the requirements of daycare, long-term care, home care, pediatric care, and other healthcare facilities. The company’s product development is driven by the specific needs of hospitals, the demographics of patients, and the expertise of its clinical staff.

• GENDRON, INC. - Gendron, Inc., previously recognized as Grendon Iron Wheel, is a producer of various medical equipment such as hospital beds, stretchers, and wheelchairs. The company’s product line primarily focuses on mobile patient management items, including ER/trauma stretchers and transport stretchers. In 1927, Gendron, Inc. became a part of American National Company, a holding entity for three firms—Toledo Metal Wheel, American Wheel, and National Wheel. The company’s journey began with the production of wire wheels for baby carriages, but it has since evolved to specialize in a range of stretchers, including transport, ER trauma, MR compatible, C arm, pediatric, and mobile imaging stretchers.

• BAKARE BEDS LTD - Bakare Beds Ltd is a provider of solutions in the areas of nursing beds, independent living, and patient mobility. The company has built a strong reputation for delivering high-quality products and services, achieved through partnerships with key players in children’s hospices, local authority care homes, charitable status care homes, adult hospices, and private care homes. The company also collaborates with occupational therapists, case management professionals, private individuals, and physiotherapists. Bakare Beds Ltd boasts a broad product range of adjustable height-profiling beds, accessories, and mattresses in the UK. It also offers a variety of products for patients in need of long-term care, home care services, and physically disabled children. The company serves a prestigious clientele, including The Royal Chelsea Hospital, The Dame Hannah Rogers Trust, and The Leonard Cheshire Foundation.

• AMICO CORPORATION - Amico Corporation, a firm specializing in medical technology, is involved in the design, production, and marketing of equipment for healthcare facilities. The company’s extensive product line includes ICU booms/pendants, headwalls & casework, hospital beds, equipment mounting solutions, air & vacuum systems, oxygen therapy equipment, pipeline equipment, safe patient handling solutions, and training solutions. These products are produced across six facilities located in the U.S. and Canada. With a worldwide reach, Amico Corporation distributes its products globally.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Therapeutic Bed Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Therapeutic Bed Market Report Assumptions:

• The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.