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. Stryker designed these beds with the simplest mechanism though capable of catering specialty patients. The main focal point of this innovation is that the company could manufacture as many as 10,000 beds per week to meet the high volume needs.
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However, due to the coronavirus preventive lockdown situation, the manufacturing and the supply chains of ICU beds have been critically affected. The scarcity of a sufficient amount of raw materials and laborers is likely to scale down and impact the desired production flow. Although, during the third quarter of the current fiscal year, the production of the ICU beds is likely to observe a record peak to accumulate the target number of required order for delivery.
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.
Competitive Landscape:
The report also focuses on details of each market player including its global position, financial standing, revenue generation, company overview, and product & service portfolio. The ICU Beds market is extremely competitive and consists of several key players at the regional and global levels. Key players are focused on adopting various strategies such as new product launches, mergers and acquisitions, investments in R&D, partnerships, joint ventures, and collaborations to strengthen their market position and enhance their product portfolio.
Leading companies operating in the market are:
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.
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The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:
ICU Beds Market Segmentation:
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)
- Remote
- Touch
- Switch
- Revolving Gear
Materials Used Outlook (Revenue, USD Million; 2018-2028)
- Stainless Steel
- Aluminum
- Copper
- Alloy With Powder Coated
- ABS
- Others
Regional Outlook:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East & Africa)
Some essential purposes of the ICU Beds market research report:
- Vital Developments: Custom investigation provides critical improvements to the ICU Beds market, including R&D, new item shipment, coordinated efforts, development rate, partnerships, joint efforts, and local development of rivals working in the market on a global scale and regional.
- Market Characteristics: The report contains ICU Beds market highlights, income, limit, limit utilization rate, value, net, creation rate, generation, utilization, import, trade, supply, demand, cost, part of the industry in general, CAGR, and gross margin. Likewise, the market report offers an exhaustive investigation of the elements and their most recent patterns, along with Service market fragments and subsections.
- Investigative Tools: This market report incorporates the accurately considered and evaluated information of the major established players and their extension into the ICU Beds market by methods. Systematic tools and methodologies, for example, Porter’s Five Powers Investigation, Possibilities Study, and numerous other statistical investigation methods have been used to analyze the development of the key players working in the ICU Beds market.
- Convincingly, the ICU Beds report will give you an unmistakable perspective on every single market reality without the need to allude to some other research report or source of information. This report will provide all of you with the realities about the past, present, and eventual fate of the ICU Beds market.
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