Press Release-ICU Beds Market Projected to Reach USD 2,219.3 Million by 2028
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ICU Beds Market Projected to Reach USD 2,219.3 Million by 2028
The Global ICU Beds Market is expected to reach USD 2,219.3 Million by 2028, growing at a Compound Annual Growth Rate (CAGR) of 5.1% from 2022 to 2028. The increase in the number of surgical procedures coupled with rising in the geriatric population is anticipated to augment the growth of the market during the forecast period.
Key Findings:
Some of key players in Global ICU Beds Market include .
The increasing incidences of chronic diseases across the globe are expected to fuel the growth of the ICU Beds Market in the years to come. This is attributable to the growing aging population, rapid unplanned urbanization, and increase in the adoption of a more sedentary lifestyle. According to WHO, chronic diseases are projected to kill 41 million people each year, which is approximately 71% of all deaths and more than 15 million people die from a chronic disease between the ages of 30 and 69 years globally. It also estimated that cardiovascular diseases account for 17.9 million people's deaths annually, which is followed by cancers with 9.3 million deaths, respiratory diseases with 4.1 million deaths, and diabetes with 1.5 million deaths. This is in turn expected to increase the demand for ICU beds in the near future across the globe. Furthermore, the rising adoption of technologically advanced products is also expected to augment the growth of the market in near future.
North America held the largest shares in 2021. This is attributable to the increase in the number of surgeries and rising patient admissions in the region. Furthermore, the recent outbreak of COVID-19 is also augmenting the regional growth of the market. Additionally, most of the key players are focusing on offering innovations and modifications to increase patient safety and comfort.
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ICU Beds Market Projected to Reach USD 2,219.3 Million by 2028
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