ICU Beds Market is Expected to Reach $2,782.39 Million by 2026

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ICU Beds Market is expected to reach USD 2,782.39 million by the end of 2026.

Bizlytik analysts forecast the global ICU Beds market to grow at a CAGR of 7.1% during the forecast period, according to their latest market research report.

ICU beds are advanced bed systems intended to be utilized for critical care. These beds are equipped with the advanced features such as continuous lateral rotation therapy, postural sitting position, weight-based pressure distribution, climate management technology in mattresses, exit sensor with alarm systems, data management on the patient, therapy reminders, and safety and emergency alarm system.

According to the World Health Organization, chronic disorder is expected to rise by 57% by 2020. According to the National Health Council, chronic diseases affect approximately 133 million Americans, representing more than 40% of the total population in 2018, and it is to grow to by 157 million, with 81 million having multiple conditions in 2020. The rising incidence of Coronavirus has increased the demand for ICU beds in the current situation. Coronavirus COVID-19 has affected more than 195 countries and territories around the world. According to the World Health Organization (WHO), there are more than 380,000 confirmed cases of coronavirus disease around the world, with more than 16,000 deaths. As of March 2020, China has the highest number of Coronavirus cases 81,171 and Italy has the highest number of coronavirus deaths 6,077. Further, the rising demand for ICU Beds is boosting the market growth. In 2020, the hit of novel coronavirus COVID-19 pandemic has increased the demand for ICU beds. As there is a shortage of ICU beds in the hospital due to COVID-19, the healthcare service providers are extending their capacity for more ICU beds. The New Jersey Department of Health has announced that all hospitals in the state to double their critical care beds to meet a goal of 4,000 beds. Alberta Health Service is planning to extend additional 1,081 beds for COVID-19 patients by the end of April 2020.

Electric Beds, Semi-Electric Beds, and Manual Beds in the Type segment of the market scope, the application segment is categorized into Neonatal Intensive Care Unit, Paediatric Intensive Care Unit, Psychiatric Intensive Care Unit, Cardiac Intensive Care Unit, Neurological Intensive Care Unit, Trauma Intensive Care Unit, Post-Operative Recovery Unit, High Dependency Unit, Surgical Intensive Care Unit, Mobile Intensive Care Unit. The report covers value of the global market by Type, and Application.

The market value of Electric Beds was USD XX million in 2019, and it is expected to reach USD XX million by 2026, growing at a CAGR of 6.8% during 2020-2026. The rising demand for ICU beds, commercialization of new ICU bed and technological advancement of ICU Electric beds would propel the growth of the segment.

North America, Europe, Asia Pacific, South America, and Middle East & Africa are taken into consideration at the global ICU Beds Value figures. While North America is further categorized into enhancing United States, Canada, and Mexico, Europe is split into the United Kingdom, Germany, France, Italy, and Rest of Europe. Asia-Pacific covers India, China, Japan, South Korea, and Rest of Asia Pacific in its scope. South America is bifurcated into Brazil, Argentina, and Rest of South America, with Middle East & Africa involving GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.

North America ICU Beds market was USD XX million in 2019, and it is predicted to reach USD XX million by 2026, growing at a CAGR of 7.0% during the forecast period. The increasing demand for ICU bed in due to the outbreak of COVID-19 would improve the growth prospects of the market.

Major players operating in the ICU Beds industry include Hill-Rom Holdings, Inc., Stryker Corporation, Linet Spol. S.R.O., Invacare Corporation, Malvestio S P A, Paramount Beds Holdings Co., Ltd., ArjoHuntleigh AB, Medimek, Narang Medical Ltd., GPC Medical Limited.

The commercialization of new ICU bed, the partnership between companies to develop new and advanced ICU beds and expand their business at the global scale, technological advancement of ICU beds and expanding the geographical presence by the companies are some of the strategies adopted by the companies.