The Global ICU Beds Market is forecasted to reach USD 5.56 billion by 2028. The global ICU Beds market is currently observing a tremendous pace owing to the growing prevalence of the intensive care units in various healthcare verticals due to rising critical diseases, geriatric patients, pediatric deformity, chronic diseases, and epidemic novel diseases, ICU beds are predominantly being in demand. Specialization in design and advanced technological functions make it disparate from the ordinary hospital beds. Technological breakthroughs such as smart bed systems, remote or centralized control systems, multiple functions customizations for enhanced comfort, protective railing barrier for fall protection, advanced monitoring sensors for health tracking, and many other futuristic solutions are some of flagship offerings provided by the key players that keep the ICU beds market highly competitive and open up many profitable opportunities for capital investment.
Agronomic designs that gets the job done fairly and can be easily manufactured in a fraction of stipulated time while on priority and intensively increase the volume of the delivery in the epidemic situation is the current propensity of the ICU bed market. For instance, In April 2020, Stryker Corporation, headquartered in Michigan, United States, a leader in medical technology equipment machineries, announced its New Emergency Relief Bed line-ups to meet the exceeding demand of critical care isolation beds due to the COVID-19 epidemic.
ICU Beds Market Overview:
The pharma and healthcare industry has undergone a revolutionary change owing to the COVID-19 pandemic with individuals increasing their focus on health and wellness. Companies operating in the industry have invested heavily in clinical trials and research studies to develop medications to cater to the growing unmet clinical demand on a global level. Implementation of cutting-edge technology in healthcare sector and increasing investment in research and development have contributed significantly to revenue growth of the market in the recent past. In addition, availability of favorable health insurance and reimbursement policies have also positively impacted the healthcare sector with more and more individuals opting to get treatment at hospital and clinical facilities. Rapid development of novel drugs and pharmaceuticals, increasing incidence of lifestyle and chronic diseases, establishment of state-of-the-art healthcare facilities, and rising availability of over-the-counter medications have significantly contributed to the revenue growth of the market.
Further key findings from the report suggest:
- In March 2020, Hill-Rom, Inc. extensively increased its production facilities for critical care units. Amid COVID-19 pandemic, special actions by the company have been initiated to ramp up the production in order to ensure that the company could supply enough amount of hospital beds to its customers worldwide. Apart from other critical care products, the production of smart beds by the company, namely Progressa, Centrella, Hillrom, and Accella, among others will be doubled.
- Get To Sleep Easy, Hoana Medical Inc., are a few names of the potential start-ups. The Sydney start-up Get To Sleep Easy showcased its Smart Inclining Bed solution, which can be placed onto any regular bed and would convert into a hospital style critical care bed with a fraction of price. Smart sensors are to be installed underneath the bed to map a patient’s movement and create an alert if the patient has fallen from the bed or stopped breathing.
- New manufacturers are expected to enter the market who are likely to come up with new solutions in the smart ICU bed systems. Apart from centralized remote control solutions, smart ICU bed solutions will bring in many technological breakthroughs that would unveil newer possibilities of health-tracking facilities embedded right in the beds. However, a massive inclination is being imposed on the technologies that can remarkably increase the production volume of the ICU beds in order to meet the excessive requirement of the same in this global COVID-19 pandemic situation.
- In March 2019, a renowned American healthcare bed manufacturer, Hill-Rom, Inc. announced its deal to acquire Voalte, a Florida, United States-based mobile healthcare communications developer. The companies together would be able to allow their customers with a single integrated solution that could deliver actionable insights from smart hospital beds.
Top Companies Profiled in the Report Include:
Hill-Rom Holdings, Inc., Malvestio S.P.A., Carevel Medical Systems Private Limited, Stryker Corporation, Invacare Corporation, Linet Group SE, Stiegelmeyer-Group, Medtronic PLC, Meditech (India) PVT. LTD, and Medline Industries, Inc., among others.
Additionally, the report consists a detailed analysis of the segmentation of the PTA Balloon Cathetery tests Market based on product types and end-use/application offered in the PTA Balloon Cathetery tests Market –
Technology Outlook (Revenue, USD Million; 2018-2028)
- Electric or Motorized
- Semi-Electric or Hybrid
- Mechanical or Manual
Control Panel Outlook (Revenue, USD Million; 2018-2028)
- Revolving Gear
Materials Used Outlook (Revenue, USD Million; 2018-2028)
- Stainless Steel
- Alloy With Powder Coated
Components Outlook (Revenue, USD Million; 2018-2028)
- Up to Three Functions
- Up to Five Functions
- Up to Seven Functions Above
- CPR Functions
- Head Foot Board
- Side Railing
ICU Type Outlook (Revenue, USD Million; 2018-2028)
- Traditional Medical ICU (TMICU)
- Cardiac Care Unit (CCU)
- Neonatal ICU (NICU)
- Pediatric ICU (PICU)
- Trauma ICU (TICU)
- Psychiatric ICU (PICU)
- Post-Anesthesia CU (PACU)
- High-Dependency Unit (HDU)
- Mobile ICU (MICU)
End-Use Outlook (Revenue, USD Million; 2018-2028)
- General Acute Care Hospitals
- Multi-Specialty Hospitals
- Specialized Hospitals
- Ambulatory Surgery Centres (ASC)
Key Regional Markets Studied in the Report:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- The Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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