Global Healthcare Smart Beds Market By Application (Hospitals, Outpatient Clinics, Medical Nursing Homes and Medical Laboratory and Research), By Regional Outlook, COVID-19 Impact Analysis Report and Forecast, 2021 - 2027
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Market Report Description
The Global Healthcare Smart Beds Market size is expected to reach $880.9 Million by 2027, rising at a market growth of 8.8% CAGR during the forecast period. Smart beds and mattresses are easily movable & flexible and are totally different from traditional bed functionality. To provide better facilities like comfort, sleep, and health, a variety of technology applications are fixed in the healthcare smart beds.
These beds comprise built-in biometric sensors, which help in tracking heart rate, breathing pattern, sleep duration, and body movement while sleeping. Smart beds are capable to study data based on the information of the user’s sleep quality. This examined data is later utilized by smart beds to adjust themselves to the changing positions at the time when the patient is sleeping. Many beds are also fixed with anti-snoring devices. The patient has the choice to connect with their most preferred digital application to manage the temperature and scheduled exercise time. Many of the smart beds can be operated by phones while some of the smart beds are unmanageable by phones for which patients need to get up and change the adjustments & settings.
The growth of the healthcare smart beds market is witnessing a significant surge in its demand from the hospital sector as they are helpful in monitoring the patients from distant locations. In addition, the healthcare sector of the emerging nations is investing a huge amount for deploying smart beds, which is giving rise to the demand for healthcare smart beds. Additionally, the growing number of aging population is accountable to contribute to the demand for smart beds and mattresses in several big hospitals. In the evolving world, hospitals are choosing smart beds instead of traditional beds as they are able to examine data of the patient, which helps in enhancing the quality of care provided to the patient.
COVID-19 Impact Analysis
The negative impact of COVID-19 is witnessed across all industries. The pandemic compelled people to stay at their homes as it was a rapidly spreading virus. Also, governments across the world imposed stringent regulations, which restricted the movement. Various industries witnessed a slowdown in the manufacturing and productivity of the products. In addition, the supply chain of products was disrupted as traveling was banned in most of the countries.
Besides this, significant growth was seen in the demand for essential products and medical products & devices. Similarly, the demand for healthcare smart beds witnessed gradual growth in its demand. Around the world, many people were infected by COVID-19 due to which, hospitals were overburdened with an increased number of patients, which has also expanded the need for smart beds during the pandemic. Moreover, it is anticipated that the demand for healthcare smart beds will rapidly rise around the world in the upcoming years.
Market Growth Factors:
Growing prevalence of chronic diseases
The cases of chronic diseases are constantly rising across the world. The major factors contributing to surging the common and costly long-term health problems are changes in societal behavior and an aging population. Also, the middle class is growing due to which regions are getting urbanized and people are inclining towards a sedentary lifestyle. This has resulted in an increasing rate of obesity and cases of diseases like diabetes.
Integration of latest technology with smart beds
Latest scientific achievements and technology improvements have introduced a number of new & advanced medical devices, aided with highly developed embedded-control functions and interactivity. Healthcare smart beds comprise integrated devices for patient assistance, care, and monitoring, based on an inclusive, multidisciplinary design approach. Smart beds are integrated into the healthcare system and comprise a unique opportunity in enabling more efficient efforts for caregivers and more responsive environments for patients.
Market Restraining Factor:
The high production cost of healthcare smart beds
The sales of healthcare smart beds are still at a low rate due to which, the demand for smart beds is declining. Various developing and underdeveloped nations do not have a robust economy, this is the major factor hampering the growth of the healthcare smart beds market. Smart beds are embedded with a lot of the latest technologies, sensors, automation devices, artificial intelligence, real-time system devices, and others that help in better treatment procedures but this integration leads to an increase in the cost of the smart beds.
Based on Application, the market is segmented into Hospitals, Outpatient Clinics, Medical Nursing Homes and Medical Laboratory and Research. The hospitals segment acquired the maximum revenue share of the market in 2020. This surge in the segment is witnessed due to the growing number of chronic diseases like kidney failure, heart diseases, and cancer, which is giving rise to the number of patients.
|Market size value in 2020||USD 470.4 Million|
|Market size forecast in 2027||USD 880.9 Million|
|Historical Period||2017 to 2019|
|Forecast Period||2021 to 2027|
|Revenue Growth Rate||CAGR of 8.8% from 2021 to 2027|
|Number of Pages||121|
|Number of Tables||180|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Application, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America acquired the largest revenue share in 2020. Factor such as the increased usage of healthcare smart beds for long-term or acute care facilities are responsible for the massive share of the regional market. Healthcare Smart beds assist medical teams and professionals by providing continuous monitoring of the patient’s health in a non-invasive way. In addition, these beds automatically transfer the real-time data through a wireless network, which enables the doctor to review the data and monitor the patient’s vitals in real-time, this helps in increasing the safety of the patient.
Free Valuable Insights: Global Healthcare Smart Beds Market size to reach USD 880.9 Million by 2027
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Stryker Corporation, Hill-Rom Holdings, Inc., Invacare Corporation (Johnson & Johnson Private Limited), Paramount Bed Co., Ltd. (Paramount Bed Holdings Co., Ltd.), LINET spol. s r.o. (WIBO Holdings GmbH), Joerns Healthcare LLC, Stiegelmeyer GmbH & Co. KG (Joh. Stiegelmeyer & Co. GmbH), Arjo AB, Völker GmbH, and Favero Health Projects SpA.
Recent Strategies Deployed in Strategies Deployed in Healthcare Smart Beds Market
- Aug-2021: LINET Group introduced the next-generation Multicare X beds on the global market as part of the prestigious ISICEM. Under the scientific ISICEM program, LINET would display the results of long-term research into the positioning of ventilated patients, which is controlled by the new functional imaging method, electrical impedance tomography (EIT).
- Apr-2021: Paramount Bed entered into the partnership with Allied Telesis, a network infrastructure/telecommunications company. Following this partnership, Allied Telesis would offer ultra-modern wireless connection for IoT terminals for Paramount Bed for advanced medical care, which also includes sleep mat sensors and eye scanners to track patient health and sleep quality.
- Feb-2021: Stryker launched ProCuity, the first-of-its-kind wireless hospital of the industry in EMEA. This smart bed is developed to decrease in-hospital patient falls at all acuity levels, enhance nurse workflow efficiencies, security, and cut down the hospital prices. Moreover, this bed is capable to connect smoothly to nurse call systems without using wires or cables.
- Feb-2021: Hillrom took over a contact-free constant monitoring technology from EarlySense, an Israeli medical device company. With the help of this acquisition, Hillrom integrated Ramat Gan, the EarlySense's contact-free constant monitoring and analytics technology with the Centrella Smart+med-Surg bed and ecosystem of connected devices. The Centrella Smart+ bed enables the constant monitoring of a patient's heart and respiratory rates above 100 times per minute without coming in contact with the patient. This contact-free constant monitoring technology would provide the Centrella Smart-bed the power to send notifications to the clinicians regarding potential patient deterioration events earlier than conventional monitoring procedures.
- Sep-2020: LINET Group completed the acquisition of CubileHealth, a provider of solutions for remote monitoring of patients in the hospital. Under this acquisition, the LINET Group would expand its offerings of smart products with a digital nursing assistant, which can be integrated modularly and future-proof with the nursing and hospital beds from wissner-bosserhoff. The acquisition aimed to help CubileHealth to speed up the development of the SafeSence sensor technology platform into a real digital care assistant that can be integrated with several modules with the nursing or hospital bed as needed and facilitate higher safety & quick reaction times during falls.
- Feb-2020: LINET came into the agreement with Sizewise, global medical equipment, and consumer sleep system manufacturer. Under this agreement, the LINET would get access to the exclusive distribution network, which would serve the USA. As a part of this agreement, the two companies also aimed for a particular product, which would integrate the Eleganza 5 bed with mattresses that Sizewise maker in California.
- Aug-2019: Invacare unveiled the latest NordBed family. The NordBed medical bed range is developed to support individuals suffering from low mobility and age-associated health issues, thereby offering superior comfort and easy usage for the patients and care staff.
- Dec-2018: HillRom came into the partnership with EarlySense, an Israeli medical device company. Under this partnership, EarlySense's constant contact-free heart rate and respiratory rate sensing and analytics technology would be integrated into Hill-Rom's Centrella Smart+ bed platform. Through this partnership, Centrella beds are entering into a new era of quality care, under which every patient can be constantly monitored during their complete hospital stay.
- Oct-2018: Joerns Healthcare launched two new bed systems: Joerns PCX Personal Care bed and Joerns BCX Bariatric Care bed. The new product line is developed specifically to serve growing care requirements across the changing care continuum.
Scope of the Study
Market Segments Covered in the Report:
- Outpatient Clinics
- Medical Nursing Homes
- Medical Laboratory and Research
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Stryker Corporation
- Hill-Rom Holdings, Inc.
- Invacare Corporation (Johnson & Johnson Private Limited)
- Paramount Bed Co., Ltd. (Paramount Bed Holdings Co., Ltd.)
- LINET spol. s r.o. (WIBO Holdings GmbH)
- Joerns Healthcare LLC
- Stiegelmeyer GmbH & Co. KG (Joh. Stiegelmeyer & Co. GmbH)
- Arjo AB
- Völker GmbH
- Favero Health Projects SpA
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How valuable will the healthcare smart beds market be in the future?
The global healthcare smart beds market size is expected to reach $880.9 Million by 2027.
What are the key driving factors and challenges in the healthcare smart beds market?
Growing prevalence of chronic diseases are driving the market in coming years, however, the high production cost of healthcare smart beds limited the growth of the market.
What are the major top companies in the competitive landscape?
Stryker Corporation, Hill-Rom Holdings, Inc., Invacare Corporation (Johnson & Johnson Private Limited), Paramount Bed Co., Ltd. (Paramount Bed Holdings Co., Ltd.), LINET spol. s r.o. (WIBO Holdings GmbH), Joerns Healthcare LLC, Stiegelmeyer GmbH & Co. KG (Joh. Stiegelmeyer & Co. GmbH), Arjo AB, Volker GmbH, and Favero Health Projects SpA.
At what CAGR is the healthcare smart beds market estimate to grow in the forecast period?
The expected CAGR of the healthcare smart beds market is 8.8% from 2021 to 2027.
Has COVID-19 impacted the healthcare smart beds market?
Yes, Many people were infected by COVID-19 due to which, hospitals were overburdened with an increased number of patients, which has also expanded the need for smart beds during the pandemic.
Which region shows the faster growth rate of the healthcare smart beds market over the forecast period?
.Europe would witness the fastest growth rate during the forecast period. Based on the article circulated by Hospital Healthcare Europe in January 2020, it is stated that hospitals should work efficiently, which will lead to an increase in the productivity in the upcoming years.