ICU Beds Global Market Report 2024 – Market to Reach $2.15 Billion in 2024 – Forecasts to 2028

DUBLIN, Dec. 6, 2023 /PRNewswire/ — The “ICU Beds Global Market Report 2024” has been added to  ResearchAndMarkets.com’s offering.

The ICU beds market is set to grow from $2.02 billion in 2023 to $2.15 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth observed in the historical period can be attributed to several factors, including the aging population, technological advancements in healthcare, the development of healthcare infrastructure, and the increased demand for critical care services. These elements collectively contributed to the growth and expansion of the ICU bed market in the past.

The ICU beds market size is expected to see strong growth in the next few years. It will grow to $2.9 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The anticipated growth in the forecast period can be attributed to various factors, including the continued expansion of healthcare infrastructure, ongoing technological innovations, preparedness for pandemic response, and the burden of chronic diseases. Additionally, significant trends expected in the forecast period encompass increased demand driven by pandemic-related factors, the expansion of ICU bed capacity, continued technological advancements in critical care, and a growing focus on enhancing patient comfort and safety within the ICU setting.

Recurrent outbreaks of pandemic diseases such as Influenza, Ebola, and most recently, COVID-19, have exerted significant pressure on healthcare authorities and services to devise preparedness plans, including augmenting the number of ICU beds to cater to critically ill patients. During pandemics, a surge in ICU admissions is witnessed as most patients necessitate intensive care. Even in developed countries, ICU beds are often at capacity during such crises. For instance, the United States possesses an estimated 34.2 ICU beds per 10,000 individuals, yet experienced heightened demand during the recent COVID-19 pandemic. Italy maintains around 12.5 ICU beds per 10,000 individuals, indicating a similar surge in demand during outbreaks. However, in developing nations like China and India, there exist only 3.6 and 2.3 ICU beds per 10,000 individuals, respectively, indicating a substantial demand in these regions. Patients with severe COVID-19 usually require approximately 14 days of ICU-based respiratory support, thereby significantly stressing resources. Consequently, the recurrent outbreaks of pandemics are expected to drive the demand for ICU beds.

Critical care is widely known for its high expenses, notably in the United States, where ICU beds, constituting less than 10% of total hospital beds, account for 22% of overall hospital costs. ICU beds are considerably pricier, roughly three times the cost of a general ward bed. A standard ICU bed may range between $25,000 and $30,000, significantly higher than the typical cost of $5,000 to $10,000 for a medical/surgical bed. Furthermore, specialized bariatric beds incur even higher costs, reaching approximately $35,000 to $40,000 each. The increasing demand for critical care services places substantial financial pressure on both healthcare systems and patients, whether paying entirely or partially out-of-pocket for these services. The exorbitant prices of ICU beds present a challenge to the market’s growth.

The emergence of smart beds represents a notable trend gaining traction in the ICU beds market. Smart beds provide an automated, digitalized approach to patient monitoring, enhancing overall efficiency. They are specifically designed to support patient movement and expedite recovery through integrated monitoring systems. 

Key players in the ICU beds market are intensifying their focus on introducing multifunctional ICU beds like the Hillrom Progressa+ to secure a competitive edge in the industry. The Hillrom Progressa+ bed, designed for the ICU, represents a next-generation offering that integrates new technologies and features to facilitate nurse-patient care and support patient recovery. For instance, in June 2023, Baxter International Inc., a US-based healthcare company, launched the Hillrom Progressa+ bed for ICU. This innovative bed encompasses technologies aimed at addressing pulmonary needs, preventing skin issues, and supporting early mobility protocols. It offers in-bed percussion, vibration, and continuous lateral rotation therapies to reduce pulmonary complications linked with immobility. The bed also features flexible frame options to ensure patients’ safe and easy movement, including one-button FullChair positioning with chair egress and an integrated 3-mode bed exit alarm, ensuring patient safety while in bed.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

Scope

Markets Covered:By Type: Electric Beds; Semi-Electric Beds; Manual BedsBy Application: Pediatric Intensive Care Unit; Neonatal Intensive Care Unit; Psychiatric Intensive Care Unit; Cardiac Intensive Care Unit; Neurological Intensive Care Unit; Trauma Intensive Care Unit; Post-Operative Recovery Unit; Surgical Intensive Care Unit; Mobile Intensive Care UnitBy End Use: General And Acute Care Hospitals; Specialized Hospitals; Multi-Specialty Hospitals; Ambulatory Surgery Centers (ASC); Other End UsesCountries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; SpainRegions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; AfricaTime series: Five years historic and ten years forecast.Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,Data segmentations: Country and regional historic and forecast data, market share of competitors, market segments.

Company Profiles

StrykerHill-Rom HoldingsGetingeInvacareParamount Bed HoldingsJoerns HealthcareLINET GroupStiegelmeyerHebei Pukang Medical InstrumentsMalvestioUmano MedicalFavero Health ProjectsGendronGraham-Field Health ProductsDrive MedicalMedline IndustriesMerivaaraSpan-America Medical SystemsSavion IndustriesNitrocare Medical BedHaelvoetNexus MedicalProma RehaJiangsu Saikang Medical EquipmentZhangjiagang Medi Medical EquipmentAntano GroupNovum Medical ProductsIntegrity Medical SolutionsMissagliaBesco Medical

For more information about this report visit https://www.researchandmarkets.com/r/xwp8z9

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]
 
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
 
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo – https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

View original content:https://www.prnewswire.com/news-releases/icu-beds-global-market-report-2024—market-to-reach-2-15-billion-in-2024—forecasts-to-2028–302007904.html

SOURCE Research and Markets