The new report by Expert Market Research titled, 'Global Therapeutic Beds Market Report and Forecast 2022-2027', gives an in-depth analysis of the global therapeutic beds market, assessing the market based on its segments like products, types, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2020): USD 3.37 billion
- Forecast CAGR (2022-2027): 5.38%
The therapeutic beds market is being driven by the increasing prevalence of chronic diseases around the world. The rise in chronic diseases can be attributed to unhealthy and sedentary lifestyle habits among the youth and middle-age population. The increased risk of premature death is a growing concern. Therefore, therapeutic beds are becoming necessary in the medical industry. The rising investments from private players towards enhancing technology are expected to aid the market growth in the forecast period. In post-COVID days, as the various sectors recover from the negative impacts of the pandemic, the product is likely to witness a rise in demand, buttressed by the efforts of the government.
Industry Definition and Major Segments
A therapeutic bed is an assistive device that is designed to aid individuals with a range of ailments, diseases and injuries which cause pain or mobility problems. The therapeutic bed may include additional positioning aid like pillow, wedges or bolsters to provide positioning needs or comfort related to a medical condition.
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The therapeutic beds market, on the basis of type, can be segmented into:
- Clinical Beds
- Household Beds
On the basis of type, the market can be categorised into:
- Acute Care
- Critical Care
The regional markets for therapeutic beds include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Among these, Asia-pacific is expected to represent a significant share of the therapeutic bed market.
The rapidly growing geriatric population across the globe is likely to aid the market as older people are more susceptible to chronic diseases and require frequent hospitalisation. Furthermore, the growing incidences of infectious diseases are expected to further enhance the product demand. The increasing rate of technological advancements and investments by the companies to develop innovative solutions with latest features are anticipated to significantly contribute to the market growth. Moreover, the market growth is expected to be propelled by developments in patient comfort, mobility, utility and cost-effectiveness.
Key Market Players
The major players in the market are Stryker Corporation, Arjo AB Gendron, Inc., Bakare Beds Ltd., Invacare Corporation, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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