|Market Size in 2022||Market Forecast in 2030||CAGR (in %)||Base Year|
|USD 11.8 Billion||USD 20.6 Billion||8.9%||2022|
Therapeutic Bed Market
The global therapeutic bed market size was evaluated at $11.8 Billion in 2022 and is slated to hit $20.6 Billion by the end of 2030 with a CAGR of nearly 8.9% between 2023 and 2030.
The market report is an indispensable guide on growth factors, challenges, restraints, and opportunities in the global marketspace. The therapeutic bed industry report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, PESTEL analysis, SWOT analysis, Porter’s five force analysis, and value chain analysis. Additionally, the therapeutic bed market report explores the investor and stakeholder space to help companies make data-driven decisions.
A therapeutic bed is a kind of assistive device that is devised for assisting individuals affected due to various diseases, injuries, and disease processes that can cause mobility or pain. Reportedly, therapeutic bed products include standard hospital beds, specialized mattresses, and extra padding purchased in retail stores. It also encompasses additional positioning aids such as pillows, bolsters, and wedges that offer comfort and fulfill the positioning requirements of end-user that are related to a medical condition.
Increase in the elderly population prone to suffer from chronic diseases to prompt the global market growth
Rise in the geriatric population and surge in the disease burden along with huge unmet medical needs in developing countries will proliferate the global therapeutic bed market expansion. In addition to this, an increase in healthcare spending for enhancing the number of therapeutic beds for patients will shape the demand for therapeutic beds in the coming years. Escalating demand for bariatric, inpatient, and ambulatory surgeries as well as critical care services for post-operative & pre-operative methods will steer the expansion of the global market.
In addition to this, the rise in the spread of the COVID-19 pandemic led to a rise in the requirement for therapeutic beds as a result of massive hospitalizations as well as an increase in hospital stays. This is likely to expand the scope of growth for the global therapeutic bed market. The rising incidences of chronic disorders including heart disorders, urological disorders, neurovascular disorders, and cancer has led to an increase in hospital admissions This, in turn, is set to embellish the growth of the market across the globe.
Less availability of products during the pandemic can hinder the global industry surge
Lack of availability of therapeutic beds in emerging economies due to the pandemic outbreak can hinder the growth of the therapeutic bed industry across the globe. Disruption in supply chain activities can also pose a threat to the expansion of the industry across the globe.
Easy access to advanced healthcare services in emerging economies to open new growth opportunities for the global market
Outbreak of the COVID-19 pandemic resulted in huge demand for pressure relief beds and mattresses in rehabilitation units and hospitals. This, in turn, created huge growth opportunities for the growth of the global therapeutic bed market. Increase in demand for clinical beds in clinics is likely to open new vistas of growth for the global market. Moreover, the setting up of strong healthcare infrastructure in emerging economies and the rise in government funding for developing cost-efficient healthcare solutions will generate lucrative growth avenues for the market across the globe.
Availability of alternative products to be a big challenge in the growth path of the global industry
Easy availability of substitute products at reduced prices and growing raw material costs can put a big challenge in the growth path of the global therapeutic bed industry trends.
The global therapeutic bed market is sectored into product, application, end-use, and region.
Based on the product, the global therapeutic bed market is divided into clinical beds and household beds segments. In addition to this, the clinical beds segment, which contributed for over 49% of the global market share in 2022, is predicted to maintain its segmental dominance even in the coming years. The segmental growth in the next eight years can be attributed to the high rate of ICU admissions due to road collisions, the outbreak of pandemic, and an increase in aging population prone to chronic disorders. Moreover, these products have beneficial features such as side railings, electronic elevation, and wheels enabling them to be moved from one place to another as well as adjusting its height.
Based on the application, the global therapeutic bed industry is divided into critical care therapeutic beds, acute care therapeutic beds, and long-term therapeutic beds segments. The acute care therapeutic beds segment, which held the largest share of nearly 42% of the global market in 2022, is predicted to continue its market domination over the upcoming years. The growth of the segment in the coming years can be due to manifold applications of acute care therapeutic beds including handling maternity, minimizing severity of mental disorders, and protecting against exacerbation along with performing therapeutic methods.
In terms of end-use, the therapeutic bed market across the globe is bifurcated into reproductive care centers, hospitals & clinics, and others. The hospitals & clinics segment, which accounted for nearly 47% of the global market earnings in 2022, is predicted to establish a leading position in the global market in the coming years. The segmental surge over the next eight years can be subject to a rise in geriatric population, a growing occurrence of chronic ailments, and an increase in cases of hospitalizations due to chronic diseases. Apart from this, a rise in the well-equipped and strong healthcare infrastructure facilities available in hospitals & clinics will provide impetus to the growth of the segment in the coming years.
|Report Attributes||Report Details|
|Report Name||Therapeutic Bed Market Research Report|
|Market Size in 2022||USD 11.8 Billion|
|Market Forecast in 2030||USD 20.6 Billion|
|Growth Rate||CAGR of 8.9%|
|Number of Pages||212|
|Key Companies Covered||Bakare Beds Ltd., Hill Rom, Inc. (Baxter), Invacare Corp., Stryker Corp., Medical Depot, Inc., Medline Industries, Centromed Ltd., GF Health Products, Inc., Amico Group of Companies, Arjo, Gendron, Inc., and Hard Manufacturing Company, Inc.|
|Segments Covered||By Product, By Application, By End-Use, and By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)|
|Historical Year||2017 to 2021|
|Forecast Year||2023 - 2030|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
Europe Therapeutic Bed market to record noteworthy growth over 2023-2030
Europe, which accounted for 39% of the overall share of the global therapeutic bed market in 2022, is anticipated to lead the regional market growth in the forecast timespan. The regional market surge over 2023-2030 can be due to the presence of giant players in the countries such as France, the UK, Russia, Italy, and Germany. Apart from this, the availability of robust healthcare services in the region and improvement in modes of medical treatment & surgeries will drive the regional market trends.
On the other hand, the therapeutic bed industry in the Asia-Pacific region is predicted to record the highest CAGR of 10.1% in the forthcoming years. The regional market expansion over the forecast timeline can be due to an increase in the patient population pool, favorable public & private reimbursement policies, and growing awareness about the benefits of the use of rehabilitation devices.
The global therapeutic bed market profiles key players such as:
A therapeutic bed is a kind of assistive device that is devised for assisting individuals affected due to various diseases, injuries, and disease processes that can cause mobility or pain. Reportedly, therapeutic bed products include standard hospital beds, specialized mattresses, and extra padding purchased in retail stores.
The global therapeutic bed market is projected to expand over 2023-2030 due to the rise in the spread of the COVID-19 pandemic led to a rise in the requirement for therapeutic beds as a result of massive hospitalizations as well as an increase in hospital stays.
According to study, the global therapeutic bed market size was $11.8 billion in 2022 and is projected to reach $20.6 billion by the end of 2030.
The global therapeutic bed market is anticipated to record a CAGR of nearly 8.9% from 2023 to 2030.
The Asia-Pacific therapeutic bed industry is set to register the fastest CAGR over the forecasting period subject to an increase in the patient population pool, favorable public & private reimbursement policies, and growing awareness about the benefits of the use of rehabilitation devices.
The global therapeutic bed market is led by industry players such as Bakare Beds Ltd., Hill Rom, Inc. (Baxter), Invacare Corp., Stryker Corp., Medical Depot, Inc., Medline Industries, Centromed Ltd., GF Health Products, Inc., Amico Group of Companies, Arjo, Gendron, Inc., and Hard Manufacturing Company, Inc.
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