USD 2.99 billion
Healthcare Smart Beds Market Size, Share, Growth Analysis, By Application(Hospitals, Outpatient Clinics, Medical Nursing Homes, Medical Laboratory), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35B2052 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|Tables:
38
|Figures:
73
Healthcare Smart Beds Market Insights
Healthcare Smart Beds Market size was valued at USD 2.99 billion in 2019 and is poised to grow from USD 3.16 billion in 2023 to USD 5.25 billion by 2031, growing at a CAGR of 5.8% in the forecast period (2024-2031).
The frequency and duration of hospital stays have been growing as the incidence of chronic illnesses and the number of life-saving procedures have increased. Furthermore, the COVID-19 epidemic has created a considerable demand for smart beds in hospitals all over the world.
Smart beds are linked to electronic medical records (EMR) or electronic health records (EHR), which provide a wealth of medical data, including personal statistics such as weight, body temperature, heartbeat, blood, oxygen, and other vital signs, medication, laboratory test results, allergies, and immunisation status. This helps healthcare practitioners decide the best course of action based on pertinent facts about a patient's medical history. Moreover, nursing staff can use the provided data to enhance patient care.The frequency and duration of hospital stays have been growing as the incidence of chronic illnesses and the number of life-saving procedures has increased. Furthermore, the COVID-19 epidemic has created a considerable demand for smart beds in hospitals all over the world.Health care smart beds can increase patients’ safety by automatically transferring all data in real-time over the wireless network, allowing medical teams to instantly review and monitor patients’ vitals. Besides, these beds can send alerts to the medical team if there are any sudden changes in a patient’s health or movement, allowing medical personnel to intervene before the patient’s health deteriorates.
US Healthcare Smart Beds Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Hospitals
Fastest Growth
Outpatient Clinics
Growth Rate
5.8% CAGR
Global Healthcare Smart Beds Market, 2021-2028 ($ Mn)
Country Share for North America Region- 2021 (%)
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Healthcare Smart Beds Market Segmental Analysis
Global Healthcare Smart Beds Market is segmented based on application into hospitals, outpatient clinics, medical nursing homes, clinical laboratory test and research. By region, Healthcare Smart Beds Market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Healthcare Smart Beds Market Analysis by Application
By application, hospital segment contributed over 70% to the global healthcare smart beds market in 2021 and is projected to stay dominating the market revenue. Hospitals are the leading consumers of smart beds because they understand the importance of promoting a healthy environment for their patients. By using smart beds, hospitals can improve patient safety by monitoring vital signs, tracking medication compliance, and preventing medical errors. Hospitals also save money by reducing the number of times that patients need to be moved from one room to another.
Global Healthcare Smart Beds Market By Application , 2021(%)
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Healthcare Smart Beds Market Regional Insights
North America dominated the global healthcare smart beds market in 2021, accounting for more than 55% of the global market revenue. This is because healthcare smart beds are employed in acute care or long-term care institutions. North America has the best quality healthcare in the world. This is because it is a region that has been influenced by many different cultures and has developed its own unique system of healthcare.
North America has a wide variety of healthcare providers across the US and Canada, which means that everyone can find a doctor that specializes in their area of concern. There are also many hospitals and clinics throughout the continent, which means that anyone can get the care they need without having to travel long distances. Furthermore, the healthcare system is funded by government agencies, so it is highly accessible to everyone.
Global Healthcare Smart Beds Market By Geography, 2021 - 2028
- Largest
- Fastest
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Healthcare Smart Beds Market Dynamics
Healthcare Smart Beds Market Driver
- Smart beds used in hospitals are primarily concerned with enhancing patient management and assisting patients in recovering more quickly. The market has received substantial momentum in the healthcare industry as a result of constant advancements in smart bed technologies, which enable hospitals to provide better healthcare to patients. The increase in government spending in hospitals to develop cutting-edge technological equipment, such as smart beds to drive healthcare smart beds market growth.
- Rising prevalence of chronic diseases is paving the way for market growth. With this increase, practitioners are trying to cover as many patients as they can and offer them the best quality care they can. This has encouraged them to make use of latest technology like smart beds that can do basic work for the nurses and physicians likes monitoring patients’ health. In line with this, market players are also investing excessively in the development and manufacturing of healthcare smart beds and equipping them with numerous novel features such as a thermostat, blood pressure monitoring device, air pressure, and other gadgets that provide profit potential in the healthcare smart beds market.
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The drastically growing IoT devices with future advancements and innovation will aid in the expansion of the market.The hospital bed has been reimagined, new smart beds monitor up to 35 data points, including a patient’s weight, body temperature, and heartbeat; and include blood, oxygen, and pressure sensors. The beds will electronically update a patient’s medical record with all data, including how many times the patient left their bed and how often they’ve been turned in bed. Some smart beds even include verbal alerts that can be triggered, like, “please don’t get up,” and USB ports for patients to charge their mobile devices.These innovations and integration of IoT with the healthcare smart beds will propel the Growth of the market.
Healthcare Smart Beds Market Restraint
- Healthcare smart beds are expensive they are equipped large number advanced features and sensors. Thus, it restricts the demand to high income hospitals or countries where healthcare cost is affordable to consumers. This is why countries in north America and Europe have strong healthcare smart beds market but it lags behind in Asia Pacific, Africa, and Latin America as most of the countries in this region are struggling to offer them basic healthcare facilities.
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Healthcare Smart Beds Market Competitive Landscape
Global healthcare smart beds market has become highly competitive on account of strong presence of numerous well-established players. These players are also controlling a sizable portion of the global market. On the other hand, SMEs are struggling to expand their expansion and are majorly catering to local or regional markets with limited product portfolio. It has been found that most of the leading players are focused on strengthening their distribution network in order to tap the maximum possible market share. As a result, they have become prominent brands and able gain consumer’s trust in their products.
Healthcare Smart Beds Market Top Players Company Profiles
- Stryker Corporation
- Joerns Healthcare
- Hill-Rom Holdings, Inc.
- Linet Group SE
- Invacare Corporation
- ArjoHuntleigh, Inc.
- Getinge Group
- Stiegelmeyer GmbH & Co. KG
- Merivaara Corp.
- Responsive Surface Technology LLC
- Sidhil Ltd.
- Medline Industries, Inc.
- Drive DeVilbiss Healthcare Ltd.
Besco Medical Limited - ProBed Medical Technologies Inc.
- Gendron, Inc.
- Malvestio Spa
- Apex Medical Corp.
- Akrus GmbH & Co. KG
- ProBed Medical USA, LLC
Healthcare Smart Beds Market Recent Developments
- In August 2022,Indian connected health device maker Dozee has partnered with Midmark India, one of the biggest hospital bed manufacturers in South Asia, to launch a connected smart bed platform for non-ICU settings.
- In January 2022, The Sleep Company, one of the key players in healthcare smart beds market, launched Elev8 Smart Bed for a sound, restful sleep (Smart Bed). The bed is equipped with zero gravity mode, automatic massage, and anti-snoring mode.
- In January 2022, Sleep Number Corporation, the industry leader in sleep health, science, research, and innovation, unveiled its most dynamic technology platform. The advanced sensing capabilities of the new 360® smart bed would enable future features to proactively monitor and improve an individual's sleep and health over time, responding to their changing needs as they progress through life stages.
- In February 2021, Stryker launched ProCuity Bed Series. It is a flexible, low-height bed that may be used in a variety of patient care settings, from MedSurg units to the ICU. It is aimed to improve patient and caregiver safety by combining wireless communication with sophisticated fall prevention technology.
Healthcare Smart Beds Key Market Trends
- Power beds are expected to dominate the healthcare smart beds market due to the increasing use of electric and semi-electric beds, which may provide a variety of benefits such as position adjustment, the availability of monitoring sensors, and fall warning features, among others. These powered bed subtypes (electric and semi-electric) are likely to contribute to the industry's rapid growth in the next few years.
- High frequency and rising incidences of chronic diseases requiring longer hospital stays. This is further supported by the growing number of accidental instances, burn injuries, paralysis, and other bedridden illnesses, are major factors that are expected to drive growth of healthcare smart beds market throughout the projected period.
Healthcare Smart Beds Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information services team that collects, collates, co-relates and analyses the data collected by means of primary exploratory research backed by the robust secondary desk research.
Global healthcare smart beds market has been witnessing increased adoption among hospitals. With each passing year, hospitals are starting to install more smart beds in order to improve the patient's experience. These beds have sensors that track the patient's vitals and other information. This information is then used to provide a more personalized experience for the patient. The bed also has cameras that can monitor the patient's health.
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| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 2.99 billion |
| Market size value in 2031 | USD 5.25 billion |
| Growth Rate | 5.8% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Healthcare Smart Beds Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Healthcare Smart Beds Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Healthcare Smart Beds Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Healthcare Smart Beds Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Healthcare Smart Beds Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Healthcare Smart Beds Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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