ICU Beds Market

Market Synopsis:

Global ICU Beds market is valued at USD 1,593.8 Million in 2021 and is projected to attain a value of USD 2,219.3 Million by 2028 at a CAGR of 5.1% during the forecast period, 2022–2028. The global ICU Beds market has grown in response to the growing elderly population, increased government healthcare spending, and an increase in the number of Covid-19 patients requiring intensive care. Low product demand in developing countries, on the other hand, stifles market expansion. High market development potential in emerging markets, on the other hand, is likely to create new opportunities for industry participants in the future.

The Covid-19 pandemic had a significant impact on the healthcare business. Because patients with Covid-19 require approximately 14 days of respiratory assistance in the ICU, the significant growth in the number of cases has raised demand for ICU Beds. However, the supply chain was hindered and raw material costs rose as a result of the prolonged lockdown in numerous regions.

The number of confirmed instances of coronavirus disease is rapidly increasing, prompting the intensive care community in the healthcare industry to prepare for the problems that this pandemic would bring. As a result, COVID-19-affected countries are continually working to expand their ICU bed capacity in order to sustain market growth.

Furthermore, as new COVID-19 patients occupy intensive care beds in hospitals, the demand for new ICU Beds will likely increase in the near future. Furthermore, a growing senior population with chronic respiratory problems, combined with an increase in healthcare industry expenditure, will drive the adoption of ICU Beds around the world.

Increasing Investments in Healthcare Infrastructural Development

The global healthcare environment has changed dramatically during the last few decades. Unprecedented economic growth has been experienced by many countries around the world. While many of these countries were damaged by the global economic crisis in 2008, they appear to have recovered and are continuing to expand, albeit at much slower rates. As a result, these economies' economic, cultural, industrial, and healthcare settings have changed dramatically. Widespread regulatory reforms, economic liberalisation, fast growing middle-class populations with increasing purchasing power, and increased investments in infrastructure development have all contributed to the healthcare industry's rapid rise.

In most developed and developing countries, healthcare infrastructure development is a major concern. Increased healthcare infrastructure investments have a favourable impact on the number of medical beds.

Market Segmentation:

The Global ICU Beds Market has been segmented by Type into Electric Beds, Manual Beds and Other Beds. By Application into General ICUs, Specialized ICUs, Paediatric and Neonatal ICUs. By End-Use into Hospitals, Ambulatory Surgical Centers and Others. Based on Region, the ICU Beds Market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

From 2021 to 2028, the traditional ICU segment would have the greatest CAGR of 5 percent by application. Due to conventional ICUs' specialisation in providing care for specific health problems or accidents, the segment retained the highest share in 2020, accounting for more than half of the worldwide ICU beds market.

North America to Continue Dominating the ICU Beds Market

Due to the well-developed healthcare industry, high adoption rate of ICU Beds, and presence of prominent manufacturers in the area, the market in North America held the highest share in 2020, accounting for more than one-third of the market. However, due to an increase in the geriatric population and an increase in persons suffering from chronic diseases, the worldwide ICU Beds market in Asia-Pacific is expected to grow at the fastest rate of 5% over the forecast period.

Key Players:

Key participants operating in the myoelectric prosthetics market are: DSV Panalpina A/S (Span-America Medical Systems, Inc.), Hill-Rom Holdings Inc., Getinge AB, Joh. Stiegelmeyer & Co. GmbH (Stiegelmeyer GmbH & Co. KG), Invacare Corporation, Malvestio S.P.A., Linet Group SE (Linet spol. s.r.o.), Merivaara Corp., Medline Industries Inc., Stryker Corporation

The ICU Beds market is segmented as follows:

The ICU Beds market scope can be tabulated as below: