Global Electric Bed Market 2024–2033

Reports Description

The Surging Aging Population Globally is Bolstering the Market

According to Custom Market Insights (CMI), the Global Electric Bed Market size was estimated at USD 2.7 Billion in 2021 and is expected to hit around USD 5 Billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 7% from 2022 to 2030.

The report further provides an overview of drivers, restraints, and opportunities present in the Electric Bed market. Moreover, the report examines the global competitive analysis of the Electric Bed market.

The key purpose of the Global Electric Bed Market report is to deliver industry investors, company leaders, private equity companies, and stakeholders with comprehensive information facilitating them to make informed strategic decisions concerning the changes in the Electric Bed market throughout the world.

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Electric Bed Market Overview

Changing the position of the upper and lower bodies as well as the bed's height is possible with an electric bed. Additionally, it can benefit a variety of medical ailments. Medical issues may become worse if you sleep poorly or in uncomfortable postures. People with illnesses or ailments like limited mobility, swollen complaints, asthma, chronic pain, breathing issues, and other medical conditions can benefit from electric beds in a variety of ways.

Electric Bed Market: COVID–19 Impact Analysis

The COVID-19 outbreak that has spread globally has increased the number of patients being admitted to hospitals and clinics. Due to the COVID-19 public health emergency, the FDA warned that there would be a greater need for hospital beds, stretchers, and mattresses to expand temporary healthcare facilities and strengthen the capacity of local hospitals and healthcare systems.

The WHO proclaimed COVID-19 a pandemic on March 23, 2020, and the US announced a national state of emergency as a result of the infections of over 354,000 documented cases in more than 180 countries. In parts of China and Italy, there was a greater need for intensive care beds than there were available beds. Rising patient admissions brought on by the global COVID-19 outbreak are causing the market to grow.

Electric Bed Market: Growth Drivers

Rising aging population

The use of electric cots has been prompted by the world's aging population, which is over 60 years old. Spinal disorders, bone injuries, neurological diseases, and lowered immunity in older persons are all predicted to have a significant impact on the expansion of the electric bed sector over the forecasted period.

The WHO predicts that there will be around 1.5 billion persons over the age of 65 in the world by 2050. People in their geriatric years are particularly vulnerable to illnesses like heart attacks, obesity, stroke, and arthritis. For greater comfort and convenience of treatment, patients with this disease need an electric cot. Therefore, the aging population will probably spur the growth of the global electric bed market.

Rising Prevalence of Chronic Diseases

In hospitals, nursing homes, as well as home care settings, beds are among the necessities. Acute care beds, psychiatric beds, long-term care beds, and pregnant beds are just a few of the specialty versions of electric beds, which are utilized in many different applications. Patients with musculoskeletal and orthopedic conditions are less flexible and have a limited range of motion. For these individuals, electric beds enable automated adjustments for the head position, height, and leg resting position.

The World Health Organization (WHO) estimates that musculoskeletal disorders account for a significant portion of all disabilities worldwide. The WHO reports that with 9.6 million recorded deaths in 2018, cancer was the second-leading cause of death globally. Furthermore, 1,735,350 new instances of cancer were detected in 2018, according to estimates from the American Cancer Society. Electric beds help the medical personnel caring for patients with advanced cancer because these individuals lose their independence in performing a variety of physiological functions. Thus, the need for electric beds is increasing due to the rising prevalence of chronic disorders like diabetes, cancer, and cardiovascular disease (CVD).

Electric Bed Market Segmentation Analysis

In our research scope, the Electric Bed market is segmented into product, application, and end-user. Based on product segmentation, the semi-automatic electric bed segment is estimated to dominate the market in 2021. The increase in cancer cases and cancer patients having surgery around the world is mostly responsible for the category rise. For example, the World Health Organization reported that there were around 2.09 million cases of breast cancer, 2.09 million instances of lung cancer, and 1.80 million cases of colorectal cancer worldwide in 2018. Since semi-automatic electric beds are simpler for patients to use and therefore in higher demand in hospitals and clinics, these factors are predicted to fuel the segment's expansion.

Over the projected period, the fully automatic electric bed segment is anticipated to increase at the fastest rate. The completely autonomous electric bed improves sleep quality, can be operated independently, and helps to lessen pressure and swelling. These beds' advantages over semi-automatic beds are fueling the segment's expansion over the anticipated timeframe.

Report Scope

Key Insights:

• As per the analysis shared by our research analyst, the Electric Bed market is estimated to grow annually at a CAGR of around 7% over the forecast period (2022-2030).
• In terms of revenue, the Electric Bed market size was valued at around USD 2.7 billion in 2021 and is projected to reach USD 5 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
• Based on the product, the semi-automatic electric bed segment was predicted to exhibit a high CAGR during the forecast period.
• Based on application, the general bed segment was the leading revenue-generating category in 2021.
• Based on end-users, the hospitals & clinics segment was the leading revenue-generating category in 2021.
• Based on end-users, the BFSI segment was the leading revenue-generating category in 2021.
• Based on geography/region, the North American region was the leading revenue generator in 2021.

Recent Development

• 2018: Arjo introduced the IndiGo medical bed, a time and effort-saving power drive system that is always available for use. Additionally, IndiGo helps with automatic slope sensing, which results in more power while traveling up hills and assistance with brakes when moving down slopes.

Regional Landscape

With a revenue of over 40%, North America holds the largest market share for Electric Beds. The demand for electric beds in North America is anticipated to expand along with the number of surgeries and patient admissions. Major industry participants in the area are making efforts to improve patient comfort and safety by introducing innovations. The latest COVID-19 epidemic is also anticipated to increase demand for electric beds. Over the course of the projection period, all of these factors are expected to fuel market expansion.

Over the projected period, Asia Pacific is anticipated to develop at the fastest rate. It is projected that the presence of growing nations like China, India, and Japan will accelerate market expansion in the Asia-Pacific region. Some of the factors projected to propel the market include growing patient safety and care awareness in this region and expanding healthcare infrastructure development.

Competitive Landscape

The companies are striving aggressively to market electric beds all over the world by highlighting the advantages of the products and releasing new models with cutting-edge features. For instance, Stryker introduced its ProCuity line of electric beds in October 2020. ProCuity is a completely wireless hospital bed that includes a number of cutting-edge patient monitoring capabilities. This solution reduces the risk of patient falls, enables caregivers to effectively monitor patients who are confined to beds, and keeps the bed connected even while it is moving.

An in-depth investment analysis has been performed, providing forecast and prevailing opportunities for the market participants. The market report focuses on significant characteristics of the market that comprise historic data, present market revenues, PEST analysis, technological investments, and competitive analysis in the related industry.

The global Electric Bed market is segmented as follows:

By Product

• Fully Automatic Electric Bed
• Semi-automatic Electric Bed

By Application

• General Bed
• Bariatric Bed
• Intensive Care Bed
• Birthing Bed
• Others

By End-user

• Hospitals & Clinics
• Dentistry
• Reproductive Care Centers
• Others

By Region

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America