ICU Beds Market 2022 Global Trends, Share, Growth, Analysis, Opportunities and Forecast to 2030

 The Global ICU Beds Market size stood at USD 1,487 Million in 2020 and is projected to reach USD 2,419 million by the end of 2030, exhibiting a CAGR of 4.9% over the forecast period of 2021 to 2030.

The demand for ICU beds will rise as more patients with COVID-19 will be admitted to hospitals. Additionally, the market for intensive care beds will grow due to increasing hospital admissions from severe coronavirus diseases. According to recent data recorded by the World Health Organization, approximately 15% to 20% of the COVID-19-infected Chinese population needed hospitalization, and between 40% and 55% of COVID-19 patients were admitted to hospitals in Italy and Spain.

Additionally, the growing number of elderly people with chronic respiratory illnesses and an increase in investment in healthcare will result in accruing intensive care beds worldwide.

ICU Beds Market: Key Trends

The rising rate of hospitalization is the primary driver for the ICU Beds Market:

The rise in hospital beds has been attributed to heightened hospitalizations and increased health coverage. Lives of people change according to their lifestyles and change in environmental circumstances. Due to the spread of diseases like smallpox or swine flu, people are more concerned about their health. To prevent complications, anyone who is ill with even a minor fever, should seek medical attention immediately.

The number of hospitalizations has risen from the previous decade. Various public and private sector organizations offer healthcare coverage for hospitalized patients. This insurance covers the hospitalization cost. Some companies also require reimbursement to their employees and their families. The result is a rise in hospitalizations which accelerates the growth of global hospital beds.

Huge investment in the healthcare sector done by Governments has been fuelling the development of the ICU Beds Market.

An acceleration in healthcare spending will lead to improvements, which will result in a rise in demand. The National Health Expenditure Accounts (NHEA) predicts that healthcare spending in the United States will rise by as much as 4.6 % to $3.8 Trillion in 2019. Hospital care was the largest expense in America, with a total of $1.3 trillion. The result was that there were approximately 1 million beds in hospitals across the United States. In 2019, Sweden spent approximately 11% of its GDP on healthcare, while Germany spent nearly 11.7%. Thus, there were 491 hospital beds per 100,000 people. This is a significant difference from the 244 in Sweden and 813 in Germany.

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ICU Beds Market: Segmentation Analysis

ICU Beds Market based on type

• Full-Electric Beds

• Semi-electric Beds

• Manual Beds

The Electric Beds segment led the market and accounted for the significant share of the global revenue in 2020. This high share is attributed to its portability and superb comfort.

Electric Beds, followed by The Manual Beds segment, is anticipated to register a significant growth rate. This was valued at around USD 570 million in 2019. This growth is attributed to its cost-effectiveness and minimum manufacturing costs compared to other ICU beds.

As the COVID-19 infected people have risen globally, the Manual Intensive Care Beds demand will increase over the forecast period.

ICU Beds Market based on ICU Type

• Traditional Medical ICU

• High Dependency Unit

• Pediatric ICU

• Neonatal ICU

• Cardiac care ICU

• Post Anesthesia ICU

• Trauma ICU

• Mobile ICU

• Psychiatric ICU

The high dependency ICU segment has been dominating the market and is anticipated to grow at a CAGR of 4.9% over the forecast period. This type of ICU offers intensive care to patients with severe medical conditions. This high growth is attributed to its advantages, such as excellent physician convenience, low risk of infections, and expert nurses.

ICU Beds Market based on control panel

• Remote

• Touch

• Switch

• Revolving Gear

ICU Beds Market based on Material

• Stainless Steel

• Aluminum

• Copper

• Alloy with Powder Coated

• ABS

• Others

ICU Beds Market based on Component

• Up to Three Functions

• Up to Five Functions

• Up to Seven Functions

• CPR Functions

• Castors

• Head & Foot board

• Side Railing

• Monitors

• Cameras

• Sensors

• Others

ICU Beds Market based on end-user

•General Hospitals

• Ambulatory Surgery Centers

• Multi-Specialty Hospitals

• Specialized Hospitals

• Others

The General Hospitals segment dominated the global ICU Beds Market, and it was valued at around USD 800 million. This high share is attributed to the growing numbers of surgical procedures done at hospitals and increasing hospital admissions.

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Report Scope:

• ICU Beds Market Forecast Year: 2021-2030

• ICU Beds Market 2020: USD 1,487 Million

• ICU Beds Market 2030: USD 2,419 Million

• ICU Beds Market CAGR: 4.9%

• Key Regions and Countries: North America, Europe, Asia Pacific, LAMEA

• Key Segments: Product Type, Application, Material, Component, and End-User

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