Smart Hospital Bed Market: Global Industry Analysis and Forecast (2023-2029)

Smart Hospital Bed Market was valued at US$ 4.62 Bn in 2022, and it is expected to reach USD 6.53 Bn by 2029, exhibiting a CAGR of 5.07% during the forecast period 2023-2029.
Smart Hospital Bed Market Overview:
Smart hospital beds have an LCD monitor to check the activity of patients such as pressure, blood flow pattern, spinal movement during laying time, sleeping activities, and others directly to the doctor or the display present on the bed.

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The report explores the Smart Hospital Bed Market's segments (Type, Product, Application, End User). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). The MMR market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2017 to 2020. The report investigates the Smart hospital Bed Market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Smart Hospital Bed Market's contemporary competitive scenario.
Smart Hospital Bed Market Dynamics:
Hospital beds are created for hospitalized patients or people who require healthcare services, as well as their caregivers' convenience. Hospital beds have a variety of features, including adjustable height, and electronic emergency buttons, and provide comfort and ease to patients during treatment. Household mattresses are difficult to keep clean for an extended period of time, and hygiene and cleanliness are not properly maintained. According to the patient's condition or comfort, hospital beds can be placed to any incline or reclined position. The head and foot components of the bed are raised and lowered using semi-electric beds. Electrical aid for movement and patient monitoring is available in many modern hospital beds. Electrical aid for movement and patient monitoring is available in many modern hospital beds. Patients can also modify the height of their hospital beds without the assistance of a caregiver. Additionally, hospital beds can be custom designed for a variety of patients or medical institution settings based on medical needs, including paediatric beds, psychiatry beds, outpatient beds, bariatric beds, maternity beds, terminal patient beds, ambulatory, and intensive care unit beds.

Drivers

The rise in healthcare spending, shift in consumer preferences, and surge in demand for improved healthcare facilities are driving the smart hospital beds industry. Global smart hospital beds market is projected to be hampered by high costs and limited availability of smart hospital beds. Furthermore, an increase in the frequency of cardiovascular illnesses is expected to stimulate demand for smart hospital beds, boosting market growth.

• Advanced health Infrastructure:
With rising sickness and infection rates, the need for better healthcare is growing in every country. Covid-19 demonstrates how much we lack in healthcare around the world, and it is driving the market.
• Uses of advanced technology by different market players:
Because of rising of various new harmful and contagious diseases which are spreading rapidly and increasing the rate of death, it is crucial time to restructure the health infrastructure. The addition of IoT (Internet of Things) in health sector will give a new whirl in this situation. Everything related to hospital-like- hospital bed, instruments, machine should be connected with technologies so that it can make a revolution in this sector
• The global smart hospital beds market is expected to grow rapidly throughout the forecast period, owing to rising per capita income in developed nations, rising healthcare expenditure, changing patient preferences, and increased demand for modern healthcare facilities.
• Smart beds, which are incorporated with integrated cardiac monitoring sensors and gadgets that trigger an alarm if the patient suffers a heart attack, are expected to see increased demand as the frequency of cardiovascular problems rises.
• Owing to growing patient demand for enhanced healthcare efficiency, technological improvements, and increased healthcare infrastructure spending are all expected to move the market forward during the projection period.

Opportunities:

During the forecast period of 2023 to 2029, technological advances provide profitable chances for market players. Besides, a strong focus on optimizing imaging operations would boost the smart hospital market's projected development rate.

Over the projected period, the hospital beds market is likely to be driven by the rising incidence of chronic diseases such as cardiovascular disease (CVD), cancer, and chronic pulmonary diseases. According to Cancer Research UK, over 20 instances of ovarian cancer are diagnosed every day, and the number of cases is expected to rise by 15% in the UK between 2014 and 2035. Furthermore, the American Cancer Society estimates that 13,130 new instances of soft tissue sarcomas will be detected in the United States in 2020. As a result, rising cancer incidence is predicted to feed demand for hospital beds, which in turn will fuel market expansion over the forecast period.

Challenges:

However, certain constraints connected with the technology, such as long test durations and reliance on operator ability and knowledge, are projected to hinder industry expansion. In addition, in the forecast period of 2023-2029, the smart hospital market is expected to face challenges due to a lack of reliable data and worries about data privacy.

This smart hospital market report covers recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, and geographies.

Covid 19 impact on Smart Hospital Bed Market:

The exponential development of COVID-19 cases around the world has put a huge strain on hospitals and medical personnel. As a result of the scenario, several healthcare facilities are turning to artificial intelligence (AI)-based sensors to help with triage. As a result of this circumstance, a number of companies have turned to AI to produce contactless infrared sensor devices for detecting people with fever in crowds. Hospitals are increasingly using these devices to replace manual screening techniques in order to decrease medical staff exposure to COVID-19 patients. Several hospitals have implemented artificial intelligence (AI) systems to identify visitors with certain COVID-19 symptoms.
Smart Hospital Bed Market Segment Analysis:
• Based on Type: Electric Beds segment is dominating the market with the highest CAGR during the forecast period. Comparatively, a large number of electric beds in hospital set-ups, increased demand for electric beds, and easy availability are key factors that are estimated to contribute to the dominant share of the segment during the forecast period.



Based on the product: long term care beds are dominating market with the highest CAGR during forecasting period. Due to a significant volume of patients with longer hospital stays, increased need for preventative care against comorbidities, and a rise in the demand for long-term smart hospital beds, the long-term care beds sector is expected to lead the worldwide smart hospital beds market.

Based on Application, Intensive care beds are dominating market with highest CAGR during forecasting period. Because these patients are unable to move and require regular monitoring of crucial metrics such as respiratory flow, blood flow, and other data, smart hospital beds are widely utilized in intensive care units. During the projection period, it is expected that increased use of smart beds in intensive care units would contribute to the segment's leading share due to their ease of use and better efficiency.

Based on End User: hospital segment was valued largest market share in 2022. Consumption of smart hospital beds at hospital facilities, as well as high healthcare infrastructure spending and volume, are projected to propel the industry.
Smart Hospital Bed Market Regional Insights:
In terms of revenue, in 2021, North America dominated the market accounting for almost xx% market share. This is attributed to the fact that healthcare smart beds are utilised in both acute and long-term care settings. Smart beds are recognised to aid medical teams by allowing them to monitor patients' health in a non-invasive manner. Smart beds in health care can improve patient safety by automatically sending all data in real-time through a wireless network, allowing medical teams to analyse and monitor patients' vitals in real time. Furthermore, these beds can send signals to the medical team if a patient's health or mobility changes suddenly, allowing medical workers to intervene before the patient's condition deteriorates.

From 2022 to 2029, Europe is expected to grow at the fastest revenue-based CAGR. Hospitals have been obliged to behave more efficiently and enhance production for a number of years, according to an article published by Hospital Healthcare Europe in January 2020. The European healthcare system has been beset by inconsistencies, such as the short- and long-term effects of budgetary and economic constraints. Along with this, there has been an increase in the desire for improved healthcare among the elderly, who tend to be more chronic patients. Furthermore, a prominent trend in the market is the increased demand for and availability of technical breakthroughs.

To deal with such contradictory situations, a number of hospitals in the region are shifting away from traditional hospital-centric models and toward more innovative and flexible models. They're putting money into smart technologies to treat patients more correctly and speed up medical treatment and recovery. This upward trend is projected to continue in the next years, speaking well for market growth.

The objective of the report is to present a comprehensive analysis of the Global Smart Hospital Bed Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Global Smart Hospital Bed Market dynamic, structure by analyzing the market segments and projecting the Global Smart Hospital Bed Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Smart Hospital Bed Market make the report investor’s guide.
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Smart Hospital Bed Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 4.62 Bn.


Forecast Period 2023 to 2029 CAGR:
5.07%
Market Size in 2029:
US $ 6.53 Bn.


 Segments Covered:
by Type
• Electric Beds
• Semi-Electric Beds
• Wireless Beds
• Manual Beds


by Product
• long term Care Beds
• Psychiatric beds
• Acute Care Beds
• Pediatric Beds
• Bariatric Beds
• Critical Care Beds
• Labor and delivery beds
• Medical and Surgical Beds


by Application
• Intensive Care Beds
• General Ward
• Acute Care
• Rehabilitation


by End-User
• Hospitals
• Ambulatory Surgery Centers
• Rehabilitation Centers
• Home Care



Smart Hospital Bed Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Smart Hospital Bed Market Key Players
• Stryker Corporation
• Getinge AB
• General Vision
• GF Health care products
• Welltok Inc.
• GE Health care
• BAM Labs Inc.
• Bakare Beds Ltd.
• Stigelemeyer & Co. GmbH
• Merivaara corp.
• Invacare Corporation
• Hill Rom Holdings
• Amico Group of Companies
• Gendron Inc.
• Midmark corporation
• Besco Medical co. Ltd

Frequently Asked Questions:

1. Which region has the largest share in Global Smart Hospital Bed Market?
Ans: Europe region held the highest share in 2022.

2. What is the growth rate of Global Smart Hospital Bed Market?
Ans: The Global Smart Hospital Bed Market is growing at a CAGR of 5.07%during forecasting period 2023-2029.

3. What is scope of the Global Smart Hospital Bed Market report?
Ans: Global Smart Hospital Bed Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Smart Hospital Bed Market?
Ans: The important key players in the Global Smart Hospital Bed Market are – Stryker Corporation, Getinge AB, General Vision, GF Health care products, Welltok Inc., GE Health care, BAM Labs Inc., Bakare Beds Ltd., Stigelemeyer & Co. GmbH, Merivaara corp., Invacare Corporation, Hill Rom Holdings, Amico Group of Companies, Gendron Inc., Midmark corporation, and Besco Medical co. Ltd

5. What is the study period of this Market?
Ans: The Global Smart Hospital Bed Market is studied from 2022 to 2029.