The size of the global motorized bed market is projected to reach $ 3.80 billion by 2027, in line with a brand-new report released by Grand View Research, Inc., which is expected to expand at a CAGR of 6.8% from 2021 to 2027. The growing range of accident cases around the world, the growing geriatric population, the growing range of surgical procedures globally, and the recent outbreak of COVID-19 are the key factors driving the market.
In terms of product insights, the semi-automatic motorized bed segment held the largest share of 57.40% in 2020 and is expected to see substantial growth over the forecast period. The growth of the segment is primarily attributed to the increase in cancer cases and surgery of cancer patients worldwide. The motorized bed segment is expected to see the fastest growth in the forecast period. The fully automatic motorized bed allows for better sleep, can be operated without any assistance, and helps reduce pressure and bloating.
With regard to the findings on end consumption, the segment hospitals and clinics had the largest share in 2020 with 38.00%. The increasing number of chronic wounds and cancer, as well as the increasing number of hospital admissions, are the main drivers for the segment growth. In addition, the increasing number of surgical interventions is expected to have a positive effect on segment growth in the forecast period.
In the segment of reproductive care centers, too, in the forecast period, significant growth is expected.
The application knowledge shows that the general bed segment held the largest share of 28.55% in 2020. The general motorized bed allows the patient to adjust the lower and upper body positions and helps with the Adjustment of the bed height. The increasing number of patient admissions around the world due to the COVID-19 outbreak is boosting demand for the product.
The increasing number of accidents and surgeries around the world is also triggering demand from critical care professionals The care beds segment is expected to show the fastest growth over the forecast period.
According to regional findings, North America dominated the market with a share of 45.41% in 2020. The most important market players in the region are taking initiatives to increase patient safety and comfort through innovations and modifications. In addition, the recent COVID -19 outbreak is expected to fuel demand for motorized beds.
The presence of developing countries such as China, India, and Japan is expected to fuel market growth in the Asia-Pacific region. The development of health infrastructure in this region is accelerating and patient safety awareness is being increased and diligence is some of the factors that are expected to drive the market.
Finally, with a view to key business and market share insights, companies are constantly striving to upgrade motorized beds around the world by highlighting the benefits of the products and bringing products to market The Grand View Research team has published the list of major global players in the motorized bed market. and Midmark (India) was recognized as one of the leading manufacturers of motorized beds.
Very detailed and apt analysis on hospital beds