The emergency of the COVID-19 pandemic is expected to affect the global Intensive Care Beds Market in a positive way. During this outbreak, the development of healthcare services across the globe will support the treatment of seriously unwell patients infected by the novel coronavirus. These patients require to be admitted in specialized critical care units to minimize the infection from the virus. Also, about 5% of coronavirus cases are predicted to need ICU admission for quick recovery from the virus. These factors are anticipated to increase the demand for intensive care beds and is projected to boost the market growth in the outbreak time.
In addition, major players in the market are adopting various strategies such as new technology launches and geographical expansions to upsurge their market share in the global industry. For example, in July 2020, Stryker, a leading company in medical technology, launched new ambulatory surgery center (ACS) to provide cost effective healthcare services in the pandemic period as well as in the post emergency environment. This aspect will impel the market growth in the forecast time.
This report is designed to help our customers in understanding the condition of global intensive care beds market in this unprecedented period.
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As per a new report published by Research Dive, the global intensive care beds market is estimated to register a revenue of $2,202.9 million till 2027 and is expected to grow at a notable rate of 4.2% CAGR during the projected time from 2020 to 2027. The global market classification has been done based on product, application, end use and region. This report delivers complete information about drivers, opportunities, restraints, segmentation and significant manufacturers in the global market.
Factors affecting the market growth
As per our analysts, growing healthcare investments and increasing hospital admissions around the world are significantly driving market growth in the projected time. Nevertheless, high costs of intensive care beds is expected to be the major restraint for the intensive care beds market growth.
Manual beds product is expected to grow at a notable rate
By product, the global market has been divide into electrical beds, manual beds and others beds. Among these, manual beds segment is expected to witness a noteworthy growth during the review period and is expected to account for $764.4 million by 2027. Rising demand for manual beds due to its low maintenance and less expensive compared with other beds, which will drive the market growth in the forecast time.
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General ICU’s application and ambulatory surgical centers segments are projected to have significant growth
By application, the global market is classified into general ICU’s, pediatric & neonatal ICU’s and specialized ICU’s. In these, the general ICU’s application segment dominated the global market size in 2019 and is expected to reach $874.6 million till 2027. Extensive utilization of intensive care beds for general ICU’s application due to support to treat high number patients. This factor will fuel the market growth during the estimated period.
By end use, the global market is classified into hospitals, ambulatory surgical centers and others. In these, ambulatory surgical centers end use segment will witness to grow at a healthy CAGR of 4.0% and is expected to register a revenue of $605.8 million in 2027. Growing number of ambulatory surgical centers due to minimize the healthcare expenditure and these centers bed capacity can be increase based on requirement, these aspects will accelerate the growth of the market in the coming years.
Intensive care beds market, regional overview
The global intensive care beds market has been examined across several regions such as North America, Europe, Asia-Pacific and LAMEA. Among these, North America produced majority of the intensive care beds market share in 2019, which was approximately 35.0% and is projected to endure its dominance over the global industry throughout the prediction period. Along with, Asia-Pacific occupied subsequent position in the global market share in the previous years and is anticipated to reach $583.8 million till 2027. In Asia-Pacific, increasing elderly population along with rising hospital admissions in the critical care units are projected to drive the growth of the market in the forecast years.
Top 10 Significant Players in the Global Intensive Care Beds Market Includes:
- Invacare Corporation
- Merivaara Corp.
- Span America
- Medline Industries, Inc.
- Getinge AB
- Malvestio Spa
- Stiegelmeyer GmbH & Co. KG
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