Therapeutic Bed Market Growth & Trends
The global therapeutic bed market size is anticipated to reach USD 6.51 billion by 2030, registering a CAGR of 5.01% during the forecast period, according to a new report by Grand View Research, Inc. The increasing prevalence of chronic disorders, such as cancer, heart disorders, neurological disorders, kidney disorders, and others, and the growing geriatric population are the key driving factors for the market. According to the WHO, in 2020, the chronic illness prevalence increased by 57%, which is anticipated to spur market growth in the near future. The COVID-19 outbreak in 2020 increased the demand for therapeutic beds significantly.
The pandemic has boosted the demand for emergency supplies, medicines, and medical equipment, such as ventilators, and hospital beds, as a result of increased hospital admissions. In addition, firms are also adopting several strategies, such as collaborations and new product launches, to help healthcare workers. For instance, in August 2020, Project C.U.R.E. received 22,500 Emergency Relief Bed (ERB) sets from Stryker. A mattress, IV pole, and bed frame were included in the ERB kits. As a result, the market is likely to grow substantially in the near future.
Furthermore, pressure injuries are a common and significant economic challenge for healthcare systems globally, costing the U.S. healthcare system more than USD 23.50 billion each year. Various manufacturers began offering solutions, such as special beds, therapeutic mattresses, and repositioning solutions, to reduce the burden of pressure injuries. Moreover, after the onset of the COVID-19 pandemic, there has been extensive demand for pressure relief beds & mattresses in hospitals and rehabilitation centers. These factors are expected to boost the market growth over the forecast period.
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Therapeutic Bed Market Report
Therapeutic Bed Market Report Highlights
- The clinical beds’ product segment dominated the global market in 2021 and accounted for the largest revenue share
- High ICU admission rates owing to a rise in the number of accidents, growth in the geriatric population, and outbreaks of life-threatening infectious diseases are driving the segment
- The acute care beds application segment led the global market in 2021 accounting for the largest revenue
- This growth was attributed to multifunctional applications, such as managing labor (maternity), providing treatment to the injury, reducing the severity of mental illness, and protecting against exacerbation or complications
- The market in Europe held a substantial revenue share in 2021 owing to a rise in the number of surgical procedures, high geriatric population, and favorable reimbursement policies in the region
