The global Therapeutic Bed Market is expected to reach USD 4.1 billion by 2024, according to a new report by Grand View Research, Inc. The growing geriatric population base coupled with the rising cases of obesity, chronic conditions, and viral infections are expected to boost market growth over the forecast period.
As per the U.S. Bureau of Labor Statistics, the rank of
home health aides and personal care aides is expected to increase to 13.0
million in 2020 (a 70.0% increase from 2010), thereby increasing the demand for
home care. This growth is expected to increase the sale of household
therapeutic beds and propel growth over the forecast period. Considering that
the treatment costs at home are lower than other settings, many patients are
now preferring home healthcare, thus, ultimately increasing the demand for
therapeutic beds in these facilities.
Another macro factor promoting the Therapeutic Bed Market
is the increase in the volume of healthcare settings across the globe. With the
help of this grant, 17 new hospitals and the expansion of 137 hospitals and primary
health centers are anticipated, thereby increasing the sale of therapeutic
beds. Similarly, in Qatar, the number of hospital beds is expected to rise from
4,980 in 2013 to 5,725 in 2018. These expansions are expected to create new
avenues for market players to capitalize on.
Browse Details of Report @
http://www.grandviewresearch.com/industry-analysis/therapeutic-beds-market
Further key findings from the study
suggest:
- The
household bed segment is identified as the fastest growing. The growing
penetration of home healthcare services for preventive care,
post-operative care, and for long-term chronic therapies are expected to
drive the growth over the forecast period.
- Clinical
beds have been further sub-segmented into regular, ICU, pediatric,
birthing, bariatric, low air loss, and other beds. Bariatric beds are
expected to gain the highest application in regions such as the U.S.,
Canada, the UK, and Germany due to the rising number of obese population.
- North
America is expected to dominate the overall market throughout the forecast
period, owing to the presence of well-developed primary, secondary, tertiary
care hospitals, the presence of a well-developed reimbursement network,
government funding, and high public and private expenditure in the
hospitals sector
- Asia
Pacific is anticipated to be the fastest growing region. The market is
expected to grow at a CAGR of about 7.0% over the forecast period. The
hospital to beds ratio is below the WHO standards in several Asia Pacific
countries and the governments are investing significant resources to
improve the healthcare infrastructure in this region.
- Key players
of the industry include Invacare Corporation, Hill-Rom, Inc., Stryker
Corporation, ArjoHuntleigh, Gendron, Inc., Hard Manufacturing Co., Bakare,
Medline Industries, Sunrise Medical, and GF Health Products, Inc. Most of
these companies have been in the business for over a decade and are
bringing in expertise and technological advancement that are expected to
help them sustain over the forecast period.
- In order
to curb competition, major market players are working towards the
acquisition of emerging entrants. For instance, in January 2015, Stryker
Corporation acquired the assets of CHG hospital Beds, Inc., a privately
held company to enhance the low height bed designs portfolio.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
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Grand View Research, Inc
Phone: 1-415- 349-0058
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Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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