Therapeutic Bed Market Analysis, Drivers, Restraints, Threats & Growth Forecast To 2030
The global therapeutic bed market size was evaluated at $11.8 Billion in 2022 and is slated to hit $20.6 Billion by the end of 2030 with a CAGR of nearly 8.9% between 2023 and 2030.
The market research is a crucial resource for information on industry opportunities, challenges, and growth drivers worldwide. The therapeutic bed industry research includes a thorough study of the competitive environment as well as a geographic market analysis. Additionally, it incorporates value chain analysis, PESTEL analysis, SWOT analysis, Porter’s five forces analysis, market basket analysis, profit ratio analysis, and market attractiveness analysis. To assist businesses in making data-driven decisions, the therapeutic bed market study also investigates the investor and stakeholder area.
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Therapeutic Bed Market: Overview
A therapeutic bed is a type of assistive device designed to help people who are afflicted by various illnesses, accidents, and disease processes that can impair mobility or cause pain. Standard hospital beds, specialty mattresses and additional padding purchased from retail establishments are reportedly therapeutic bed items. It also includes other positioning aids, including pillows, bolsters, and wedges, that provide comfort and meet the end-user’s positional needs as they pertain to a medical condition.
• Our research analyst’s analysis indicates that over the forecast period (2023-2030), the global market for therapeutic beds will develop at an average yearly growth rate of about 8.9%.
• The therapeutic bed industry is estimated to generate close to $11.8 billion in sales globally in 2022 and $20.6 billion by 2030.
• The rise in the elderly population, the rise in illness load, and the enormous unmet medical needs in developing nations are all contributing to the gigantic growth that is projected for the worldwide therapeutic bed market throughout the forecast period.
Ageing of the population and increased risk of chronic diseases will drive market expansion globally.
The ageing population, rising disease rates, and the enormous unmet medical requirements in developing nations will all contribute to the growth of the worldwide therapeutic bed market. The demand for therapeutic beds will also change in the upcoming years due to an increase in healthcare spending intended to increase the number of beds available for patients. The global market will grow as a result of rising demand for bariatric, inpatient, and ambulatory surgeries as well as critical care services for post- and pre-operative procedures.
The worldwide industry boom could be hampered by the pandemic’s decreased product supply.
The global expansion of the therapeutic bed sector may be hampered by the lack of therapeutic beds in emerging nations as a result of the pandemic epidemic. The expansion of the sector around the world may potentially be threatened by disruptions in supply chain operations.
Access to affordable, high-quality healthcare services in developing nations will expand market potential globally.
Due to the COVID-19 pandemic’s outbreak, pressure relief beds and mattresses were in high demand in hospitals and rehabilitation centres. This in turn produced enormous development opportunities for the therapeutic bed market’s expansion worldwide. The need for clinical beds in clinics is expected to rise, thus creating new growth opportunities for the global market. Additionally, the development of robust healthcare infrastructure in emerging nations and the increase in public funding for the creation of cost-effective healthcare solutions will open up lucrative potential opportunities for the industry globally.
A significant obstacle to the worldwide industry’s growth route is the availability of substitute products.
The growth trajectory of the international therapeutic bed industry trends may face significant obstacles due to the simple availability of substitute products at lower prices and rising raw material costs.
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The Global Therapeutic Bed Market is segmented based on product, application and region.
Global Therapeutic Bed Market: Product Segment Analysis
● Clinical Beds
● Household Beds
Global Therapeutic Bed Market: Application Segment Analysis
● Critical Care Therapeutic Beds
● Acute Care Therapeutic Beds
● Long-Term Therapeutic Beds
Recently Occurring Events :
• Therapy Brands, a company that produces practise administration software, unveiled a revolutionary bed management module for Procentive EHR, an accessible EHR solution for behavioural health practises, in the second half of 2022. The decision will increase demand for therapeutic beds all around the world.
• New red light therapy beds were introduced in the United States in March 2023 by the Vasindux brand Spectra Red Light. The programme is probably going to increase the product’s demand in the United States and throughout the North American continent.
The global therapeutic bed market profiles key players such as:
● Bakare Beds Ltd.
● Hill Rom Inc. (Baxter)
● Invacare Corp.
● Stryker Corp.
● Medical Depot Inc.
● Medline Industries
● Centromed Ltd.
● GF Health Products Inc.
● Amico Group of Companies
● Gendron Inc.
● Hard Manufacturing Company Inc.
Europe’s therapeutic bed industry will increase significantly between 2023 and 2030.
It is expected that Europe, which in 2022 held a 39% share of the worldwide therapeutic bed market, will continue to dominate regional market growth. The growth of the regional market between 2023 and 2030 may be attributed to the existence of major players in France, the UK, Russia, Italy, and Germany. In addition, the availability of strong healthcare services in the area and advancements in medical treatment and surgical techniques would influence regional market trends.
On the other hand, the Asia-Pacific region is expected to experience the greatest CAGR of 10.1% in the therapeutic bed business during the next years. An increase in the patient population pool, favourable public & private reimbursement policies, and rising public awareness of the advantages of using rehabilitation devices can all contribute to the regional market’s expansion throughout the projection period.
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