Global Mobility Aids And Transportation Equipment Market

The patient handling equipment market consists of sales of patient handling equipment and related services by entities (organizations, sole traders, and partnerships) that manufacture patient handling equipment. They are used for specific lifting, transfer, and movement of patients. Patient handling equipment is an assistive device that helps home care and hospital settings for transferring patients between chairs, beds, and other places. The patient handling equipment market covered in this report is segmented by product type into wheelchairs, mobility scooters, medical beds, patient transfer equipment, and others. The patient transfer equipment is used for transferring patients between chairs, beds, and other places. It is also segmented by care type into critical care, fall prevention, bariatric care, and by end-user into homecare, hospitals, and others. The global patient handling equipment market size is expected to grow from $19.31 billion in 2021 to $20.35 billion in 2022 at a compound annual growth rate (CAGR) of 5.4%. The global patient handling equipment market is expected to grow to $23.19 billion in 2026 at a CAGR of 3.3%. The increasing geriatric population profile of most countries contribute to the growth of the patient handling equipment market. The older population accounts for a higher percentage of hospital admissions owing to the high risk of acquiring chronic and other diseases, thereby generating a higher need for patient handling equipment. According to United Nations, Department of Economic and Social Affairs, 1 in 11 people in the world were over the age of 65 in 2019 and this number is expected to increase to 1 in 6 people by the end of 2050. Moreover, the number of people globally over the age of 65 is expected to increase from 703 million in 2019 (constituting 9% of the world population) to 1.5 billion by the end of 2050. Therefore, an increase in the size of the geriatric population is anticipated to boost the demand for the patient handling equipment market during the forecast period. Inconvenience caused by wheelchairs and other patient handling equipment is likely to act as a major restraint for patient handling equipment’s market growth. Physical barriers associated with wheelchairs include inaccessible surroundings, lack of pavements, and climate and physical terrain. For instance, according to the American Nurses Association (ANA), the physical environment can lead to restrictions on the movement and positioning of the patients. This scenario is projected to impact the growth of the patient handling equipment market. In July 2019, Etac AB, a global company engaged in developing and providing ergonomic assistive devices and patient handling equipment, acquired 70% of shares in HoverTech International, a USA-based company, for an undisclosed amount. This acquisition is expected to strengthen Etac AB’s global position in the moving and handling equipment industry. HoverTech International was established in 1997 and is a manufacturer of air-assisted patient handling technologies. Major players in the global patient handling equipment market are ArjoHuntleigh Inc., Hill-Rom Holdings Inc., Invacare Corporation, Stryker Corporation, Drive Divilbiss Healthcare Inc., ETAC AB, Gf Health Products Inc., Guldmann, Inc., Handicare Group AB, and Joerns Healthcare LLC. The regions covered in the global patient handling equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the global patient handling market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global patient handling equipment market is segmented - 1) By Product Type: Wheelchairs, Mobility Scooters, Medical Beds, Patient Transfer Equipment, Others 2) By Care Type: Critical Care, Fall Prevention, Bariatric Care, Wound Care, Others 3) By End-User: Biopharmaceutical and Pharmaceutical Companies, Research Institutes, Homecare, Hospitals, Others

The hospital supplies market consists of sales of hospital supplies and related services by entities (organizations, sole traders, and partnerships) that produce hospital supplies. The main types of hospital supplies are disposable hospital supplies, sterilization equipment, disinfectants, mobility aids, transportation equipment, and operating room equipment. The disposable hospital supplies are the products that can be disposed of after single use and intended to be used temporarily or only once. They are simple to operate and do not require maintenance and sterilization. The type of expenditure is public and private. The products used are instruments/equipment and disposables. The end-users are hospitals and clinics, diagnostic laboratories, and others. The global hospital supplies market size is expected to grow from $50.25 billion in 2021 to $55.02 billion in 2022 at a compound annual growth rate (CAGR) of 9.5%. The global hospital supplies market size is then expected to grow to $75.42 billion in 2026 at a CAGR of 8.2%. The hospital supplies market is expected to benefit from the rise in precautionary measures being adopted to treat and control hospital-acquired infections (HAIs). HAIs, also known as nosocomial infections, are infections that patients contract during treatment for medical or surgical conditions. HAIs can occur in various healthcare facilities, including hospitals, surgical centers, and long-term care facilities such as nursing homes and rehabilitation facilities. According to WHO data, Of every 100 hospitalized patients at any given time, 7 in developed and 10 in developing countries will acquire at least one healthcare-associated infection. This is expected to boost the demand for hospital supplies and drive the market during the forecast period. The outbreak of the Coronavirus disease (COVID-19) has acted as a restraint on the hospital supplies market in 2020 as supply chains were disrupted due to trade restrictions and healthcare organizations faced difficulties in acquiring new medical equipment. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in a decline in manufacture and trade of medical equipment with countries entering a state of lockdown and the outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the hospital supplies market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy. Injection manufacturers are increasingly investing in painless injections and needle-free technology as a replacement to conventional injections for faster delivery of drugs, hormone treatments, insulin, and vaccines. Painless injections include microneedle patches and laser-based devices to deliver drugs to a patient’s body. Microneedle patches are skin patches equipped with tiny plastic needles that dissolve within a short period and deliver vaccines painlessly in the form of a pressured stream of liquid. These devices are utilized to avoid pain and manage chronic illnesses such as diabetes. For instance, in 2019, Adamas Finance Asia announced plans to invest $5 million in needle-free injection technology. Major companies in the hospital supplies market include Becton Dickinson, B. Braun Group, Steris, Baxter International Inc., Stryker Corporation, Cardinal Health, Inc., Hill-Rom, Inc, Terumo Corporation, Medtronic Inc., and 3M Company. Asia Pacific was the largest region in the global hospital supplies market in 2021. North America was the second largest region in the global hospital supplies market. The regions covered in the global hospital supplies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the hospital supplies market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa., South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The global hospital supplies market is segmented - 1) By Type: Disposable Hospital Supplies, Sterilization Equipment and Disinfectants, Mobility Aids and Transportation Equipment, Operating Room Equipment 2) By End-User: Hospitals and Clinics, Diagnostic Laboratories, Others 3) By Type of Expenditure: Public, Private 4) By Product: Instruments/Equipment, Disposables

The 3D printed medical devices market consists of sales of 3D printed medical devices and related services. 3D printing is a process to create three-dimensional medical devices with the help of computer-aided design. Some of the 3D printed medical devices include orthopaedic and cranial implants, surgical instruments, dental restorations such as crowns, and external prosthetics. The main types of 3D printed medical devices are implants, surgical instruments, prosthetics, tissue engineering devices, and others. The 3D-printed implants are medical implants that are made using 3D printing technology to create complex geometries. These are made up of raw materials such as plastics, biomaterial inks, and metals and alloys. The technologies involved in 3D printed medical devices are fused deposition modeling, digital light processing, stereolithography, and selective laser melting. These provide applications in orthopedic, spinal, dental, hearing aids, and others that are used by end-users such as hospitals, diagnostics centers, academic institutions, and others. The global 3D printed medical devices market size is expected to grow from $2.29 billion in 2021 to $2.76 billion in 2022 at a compound annual growth rate (CAGR) of 20.4%. The global 3D printed medical device market size is then expected to grow to $4.49 billion in 2026 at a CAGR of 13.0%. The increasing prevalence of osteoarthritis and similar musculoskeletal conditions is one of the major factors driving the growth of the 3D printed medical devices market. Osteoarthritis is a disorder that damages the joint cartilage and surrounding tissues causing pain, stiffness, and loss of joint function to the person affected by it. The 3D printing medical devices enable the creation of a replica of a patient's joint which can provide surgeons with a crucial piece of information that might not be visible on a 2-dimensional scan. The chance of developing osteoarthritis increases with age. For instance, according to the US National Library of Medicine report, by 2040, it is estimated that approximately 78 million (26%) US adults aged 18 years and above will be projected to have doctor-diagnosed arthritis. Thereby driving the adoption of 3D printed medical devices, positively impacting the market growth. Biocompatibility issues related to 3D printed medical devices restrict the growth of the 3D printed medical devices market. Biocompatibility implies the properties that make material or a device compatible with the human body. If the material used for the preparation of a 3D printed implant device is not compatible with the patients' biomechanics, then patients may suffer side effects such as abnormal growth of bone and bleeding. Among the most common metal used in the manufacturing of 3D printed medical devices is Titanium. Though Titanium offers reliability and accuracy in creating medical-grade products, some human bodies tend to reject titanium as its chemical composition can inhibit the bone and tissue from interacting with the implant. Apart from these other reasons which may contribute to the failure of metallic implants that are either caused by the material properties of the metal (e.g., high stiffness, high corrosion rate, and toxicity) itself or by the exposure of the bone to infected metal implants i.e., infection. The increasing use of 3D printing technology in the spine industry is one of the latest trends in the 3D printing medical devices market. The spine industry is adopting 3D printing to produce new innovative products that can promote bone ingrowth and improve implant fixation to spine bone, reducing the number of manufacturing steps, thereby making the 3D printing process more cost-effective in several cases. For instance, Medtronic launched its titanium 3D printed platform – TiONIC Technology. TiONIC Technology is a 3D printed technique that uses laser methods to create implants with enhanced surface textures. Artic-L is the first implant created by the company using TiONIC Technology. The implant is made up of titanium and designed to be used by surgeons in spine surgery. In addition to that, K2M’s Lamellar, introduced its 3D Titanium Technology to create a 3D spinal implant. The 3D printing medical device using titanium technology uses an advanced 3D printing method to create structures that were once considered impractical with traditional manufacturing techniques. The implants use titanium powder and are associated with bone growth activity. Food and Drug Administration (FDA) has a Centre for Device and Radiological Health (CDRH) to regulate the firm which manufacture, repackage, relabel and/or import 3D printing medical devices in the US. FDA provides manufacturers with a draft with guidance that includes recommendations for device design, manufacturing, and testing considerations during the development of 3D printing medical devices. Section F of the 'Technical Considerations for Additive Manufactured Medical Device' draft, requires the manufacturers to evaluate the biocompatibility of the final finished device as described in the guidance "Use of International Standard ISO-10993". The guidelines also require the manufacturer of the 3D printing devices to mention the additional information in the label if any toxic chemical additives such as certain additives, catalysts, binding and curing agents, uncured monomers, and plasticizers are used in making 3D printing medical devices. In July 2020, Medtronic, an American Irish-domiciled medical device company acquired Medicrea International for an undisclosed amount. The acquisition of Medicrea expands Medtronic’s already deep portfolio as this adds to their spinal solution profile as the advent of new digital technology will offer the ability to custom spinal implants. Medicrea International is a spinal surgery company with 30+ FDA-approved spinal implant technologies that have been utilized in over 150,000 spinal surgeries to date. Major players in the 3D printed medical devices market are 3D Systems Corporation, EnvisionTEC, Stratasys Ltd., Arcam AB, Cyfuse Biomedical, Materialise NV, Organovo Holdings, EOS GmbH, FabRx Ltd., and Concept Laser. The regions covered in the global 3D printed medical devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the 3D printed medical devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global 3D printed medical devices market is segmented - 1) By Type: Implants, Surgical Instruments, Prosthetics, Tissue Engineering Devices, Others 2) By Application: Orthopedic, Spinal, Dental, Hearing Aids, Others 3) By Technology: Fused Deposition Modelling, Digital Light Processing, Stereolithography, Selective Laser Melting 4) By Raw Material: Plastics, Biomaterial Inks, Metals and Alloys 5) By End-User: Hospitals, Diagnostics Centres, Academic Institutions, Others

The market for patient blood management consists of sales of instruments, accessories, software, reagents, and kits used in the management of blood and blood products of patients. Patient blood management is a patient-focused, evidence-based and systematic approach to optimize care of patients, who might need a blood transfusion, by optimizing patients’ blood, minimizing surgical blood loss, and harnessing the patient-specific physiological reserve of anemia thereby reducing the need for allogeneic blood transfusions. The patient blood management market is segmented by product into instruments, accessories, reagents and kits, software. The patient blood management kits are used to manage the patient’s blood. It is also segmented by component into plasma, whole blood, and red blood cells that are used for applications such as hospitals, clinics, and others. The global patient blood management market size is expected to grow from $11.83 billion in 2021 to $12.82 billion in 2022 at a compound annual growth rate (CAGR) of 8.4%. The global patient blood management market is then expected to grow to $15.94 billion in 2026 at a CAGR of 5.6%. The rising number of accidents, trauma cases, and surgical procedures contributed to the growth of the global patient blood management market. According to WHO, 1.35 million people die every year due to road accidents, and low-income and middle-income countries account for 93% of the fatalities occurring in the world due to road accidents. According to the Centers for Disease Control and Prevention, 2019 show that 31.7% of all births were by cesarean and 25.6% of the NTSV population had cesarean births. Increased number of accidents, trauma cases, and surgical procedures resulted in increased demand for blood, and its products are driving the global patient blood management market. The high cost associated with automated systems is expected to limit the growth of the global patient blood management market. Costs associated with an increasing regulatory requirement, infection testing, and hospital administration, which include initial project costs, personnel salaries, costs of equipment, outside resources, and ongoing project costs make automation expensive. According to the Eastern Mediterranean Health Journal 2019, the expected cost of transfusion of one unit of red cells is US$700–$1200. The high economic cost of automation is therefore expected to hamper the global patient blood management market. HEMAsavR is a sterile medical device to capture and transfer blood, which is increasingly being used to collect and salvage blood in surgical procedures and respond quickly to unanticipated blood loss. Clinicians can economically collect sterile, anticoagulated blood without any need for specialized resources. By this, the upfront shed blood collection cost decreases, allogenic transfusions can be avoided with improved outcomes such as decreased patient mortality, low incidence of infections, and reduced risk of multi-organ failure. In August 2019, Ecomed Solutions, the developer and manufacturer of HEMAsavR received a contract from Vizient Inc, a healthcare performance improvement company to recommend HEMAsavR by hospital experts who serve as a Vizient member council. Major players in the global patient blood management market are Haemonetics Corporation, Fresenius SE & Co. KGaA, Terumo Corporation, Immucor Inc., B. Braun Melsungen AG, Macopharma, bioMérieux SA, Asahi Kasei Corporation, Kaneka Corporation, and Bio-Rad Laboratories Inc. The regions covered in the global patient blood management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the global patient blood management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global patient blood management market is segmented - 1) By Product: Instruments, Accessories, Reagents and Kits, Softwares 2) By Component: Plasma, Whole Blood, Red Blood Cells 3) By Application: Hospital, Clinic, Others

The patient monitoring devices market consists of sales of patient monitoring devices and related services by entities (organizations, sole traders, and partnerships) that produce patient monitoring devices used in monitoring vital health parameters. The main types of patient monitoring devices market are fetal and neonatal monitoring devices, weight monitoring and body temperature monitoring devices and equipment, vital parameter monitoring devices and equipment, and remote patient monitoring devices and equipment. Fetal and neonatal monitoring devices measure the heart rate and rhythm of the baby (fetus). This lets the healthcare providers see how the baby is doing. The type of expenditure is public and private. The products used are instruments/equipment and disposables. The end-users are hospitals and clinics, diagnostic laboratories, and others. The global patient monitoring devices market size is expected to grow from $21.1 billion in 2021 to $23.55 billion in 2022 at a compound annual growth rate (CAGR) of 11.6%. The global patient monitoring market size is expected to grow to $35 billion in 2026 at a CAGR of 10.4%. The demand for monitoring devices is likely to increase due to the shortage of professionals in the healthcare services industry. According to a report by Mercer, the US requires 2.3 million new health care workers by 2025, this includes nurses, physicians, lab technicians, and various other healthcare personnel. This shortage is likely to drive the demand for monitoring systems as these devices allow medical professionals to track multiple patients remotely. This is expected to drive the market for patient monitoring devices in the forecast period. Awareness of diseases is low in many countries across the globe and this affected the demand for patient monitoring devices in the historic period. For instance, a study conducted by the Indian Council of Medical Research (ICMR) on 213 million people found that only 43.2% are aware of the chronic disease diabetes. This lack of disease awareness limited the diagnosis and treatment pool, thereby restricting market growth for patient monitoring devices. Patient monitoring device manufacturers are offering customized MPMs to cater to the growing patient pool. MPMs monitor different health parameters corresponding to patients’ health conditions. For instance, Infinium Medical’s Omni series monitors are preconfigured with ECG, oxygen saturation, non-invasive blood pressure, and temperature trackers. More advanced health measures such as invasive blood pressure, cardiac output, and anesthetic agent measurement can be added to this device when needed. Custom MPM is predominantly beneficial for tracking the health status of critically ill patients. Major companies in the patient monitoring devices market include General Electric Company, Koninklijke Philips N.V., Draegerwerk AG, Cardinal Health, Inc., Masimo, Stryker Corporation, Medtronic Inc., Edwards Lifesciences, Flex Ltd, and Nihon Kohden Corporation. Asia Pacific was the largest region in the global patient monitoring devices market in 2021. North America was the second-largest region in the global patient monitoring device market. The regions covered in the global patient monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the patient monitoring devices market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa., South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The global patient monitoring devices market is segmented - 1) By Type: Fetal and Neonatal Monitoring Devices, Weight Monitoring and Body Temperature Monitoring Devices and Equipment, Vital Parameter Monitoring Devices and Equipment, Remote Patient Monitoring Devices and Equipment 2) By End-User: Hospitals and Clinics, Diagnostic Laboratories, Others 3) By Type of Expenditure: Public, Private 4) By Product: Instruments/Equipment, Disposables Subsegments Covered: Fetal Monitoring Devices, Neonatal Monitoring Devices, Temperature Monitoring Devices, Weight Monitoring Devices, Cardiac Monitoring Devices, Neuromonitoring Devices, Respiratory Monitoring Devices, Hemodynamic Monitoring Devices, Multiparameter Monitoring Devices, Cardiac Monitors, Respiratory Monitors, Hematological Monitors, Vital Parameter Monitors, Others

The healthcare services market consists of sales of healthcare services and related goods by entities (organizations, sole traders and partnerships) that provide human healthcare services. This industry includes establishments that provide services such as medical and diagnostic laboratory services, dental services, nursing care, residential substance abuse and mental health facilities and other healthcare services. The main types of healthcare services are medical and diagnostic laboratory services, dental services, home health care and residential nursing care services, residential substance abuse and mental health facilities, hospitals and outpatient care centers, physicians and other health practitioners, all other ambulatory health care services, and ambulance services. The hospitals and outpatient care centers are engaged in providing diagnostic and medical treatment to patients with a wide range of medical conditions. The different expenditure types include public and private which are used by male and female. The global healthcare services market size is expected to grow from $6872.86 billion in 2021 to $7548.52 billion in 2022 at a compound annual growth rate (CAGR) of 9.8%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The healthcare services market is expected to reach $10414.36 billion in 2026 at a CAGR of 8.4%. Survival rates and quality of life have improved tremendously over the past decade. Medical and technological advances have played an important role in their progress. High technology diagnostics and therapeutic equipment integrating doctors’ practice patterns have improved healthcare services delivery. According to a report by TrendWatch, medical advances are responsible for a 70% improvement in survival rates for heart attack patients and a two-thirds reduction in mortality rates for those suffering from cancer. These factors contribute to the potential growth of the healthcare services market. Many federal and state governments are either offering subsidized or free healthcare services to their citizens. Since most of the governments are offering quality healthcare services for free or subsidized rates, patients tend to opt for government healthcare services thereby, limiting the scope for private healthcare service providers. For example, the NHS (National Health Service) of the UK offers free healthcare services to all legal residents and visitors. Going forward, federal and state provisions are expected to be a major restraint on the healthcare services market. The Shared Medical Appointments (SMA) model is being increasingly adopted globally to optimize resources and reduce costs. This is a model generally defined as multiple patients being seen as a group by a multi-disciplinary medical care team for follow-up or routine care. It is being adopted by hospitals to create awareness and counsel individual patients dealing with similar medical conditions. The SMA supplements the traditional physician-patient appointment. SMAs provide individual evaluation and disease management for each patient at the same time that they provide counseling to the patient within a group setting. SMAs are currently used to address diabetes, asthma, ulcerative colitis, MS, cancer, HIV, menopause, insomnia and stress. Major companies in the healthcare services market include UnitedHealth Group Incorporated, Kaiser Permanente, HCA Healthcare, Fresenius Medical Care AG & Co. KGaA, Tenet Healthcare, Mayo Clinic, Community Health Systems, Laboratory Corporation of America, Cleveland Clinic and Davita Inc. North America was the largest region in the healthcare services market in 2021. Western Europe was the second largest region in the healthcare services market. The regions covered in the healthcare services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the healthcare services market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The global healthcare services market is segmented - 1) By Type: Medical and Diagnostic Laboratory Services, Dental Services, Home Health Care and Residential Nursing Care Services, Residential Substance Abuse and Mental Health Facilities, Hospitals and Outpatient Care Centers, Physicians and Other Health Practitioners, All Other Ambulatory Health Care Services, Ambulance Services 2) By End-User Sex: Male, Female 3) By Type of Expenditure: Public, Private Subsegments Covered: Medical Laboratory Services, Diagnostic Imaging Centers, General Dentistry, Oral Surgery, Orthodontics and Prosthodontics, Other Dental Services, Home Health Care Providers, Nursing Care Facilities, Orphanages and Group Homes, Retirement Communities, Residential Mental Health and Intellectual Disability Facilities, Substance Abuse Centers, Hospitals, Outpatient Care Centers, Specialist Doctors, Primary Care Doctors, Physical Therapists, Optometrists, Chiropractors, Podiatrists, Ground Ambulance Services, Air Ambulance Services, Water Ambulance Services

The Intensive Care Unit (ICU) Beds market consists of sales of special hospital beds designed for ICUs to take care of critical patients. The market consists of revenues generated by establishments that are primarily engaged in the manufacturing of electrical, semi-electrical, and mechanical ICU Beds that provide both safety and comfort to patients and also caregivers. Intensive care represents the highest level of continuing patient care and treatment. An ICU is a designated area offering facilities for the prevention, diagnosis and treatment of critical illnesses such as multiple organ failures. The main types of ICU beds market are electric beds, semi-electric beds, and manual beds. Electric ICU beds are controlled by a handset or control panel, rather than by medical personnel manually repositioning the bed. The various application include 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, and mobile intensive care unit that are used by general and acute care hospitals, specialized hospitals, multi-specialty hospitals, ambulatory surgery centres (ASC), and others. The global ICU beds market size is expected to decline from $1.78 billion in 2021 to $1.89 billion in 2022 at a compound annual growth rate (CAGR) of 6.3%. The change in the ICU beds market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. The ICU bed market is expected to reach $2.42 billion in 2026 at a CAGR of 6.4%. The ICU beds market is experiencing exponential growth. Increasing COVID-19 cases across the globe pressurizing governments of emerging and developed countries to increase their intensive care capacities. Public health systems releasing funds to procure the needed hospital infrastructure, with ICU beds being one of the important requirements. The frequent outbreaks of pandemic diseases such as Influenza, Ebola, and the recent COVID-19, has put enormous pressure on healthcare authorities and health services to draft and discuss preparedness plans that includes the increase in number of ICU beds, to accommodate critically ill patients. During pandemics, most patients require ICU admission and this drives the market for ICU beds. Even in most well-developed countries, ICU beds are often close to capacity during such out-breaks. In United States, there are an estimated 34.2 ICU beds per 10,000 people, yet there is a surge in demand during recent COVID-19 pandemic. In Italy, there are about 12.5 ICU beds per 10,000 people. Due to the recent outbreak, with the rate of increase in the number of patients in intensive care with COVID-19, the demand for number of ICU beds continues to change. In China and India, it is only 3.6 and 2.3 beds per 10,000 people respectively, and the demand in such developing countries is huge. Patients with severe COVID-19 disease require approximately 14 days of respiratory support in ICU. Such lengthy treatment time will further stress resources. Therefore, the frequent outbreaks of pandemics are expected to drive the ICU beds market. Critical care is often described as expensive care that includes high cost of resources. In United States, although ICU beds comprise less than 10% of hospital beds, ICU departments consume 22% of total hospital costs. ICU beds tend to cost threefold higher than a bed in a general ward. ICU beds cost between $25,000 and $30,000, significantly more than other medical/surgical beds, which typically cost $5,000 to $10,000 a bed. Bariatric beds are even more expensive, which are nearly about $35,000 to $40,000 each. The escalating demand for critical care services put financial strain on both health care systems, and also on patients who pay completely or partially out-of-pockets for these services. Therefore, high prices of ICU beds are challenging the growth of this market. Major players in the ICU beds market are Invacare Corporation, Paramount Bed Holdings Co. Ltd., Medline Industries Inc., Stiegelmeyer GmBH & Co. KG, Gendron Inc., LINET Group SE, Joerns Healthcare LLC., Span-America Medical Systems Inc., Malvestio S.P.A., and Merivaara Corp. The regions covered in the ICU beds market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the ICU beds market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global ICU bed market is segmented - 1) By Type: Electric Beds, Semi-Electric Beds, Manual Beds 2) By 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 Unit 3) By End Use: General and Acute Care Hospitals, Specialized Hospitals, Multi-Specialty Hospitals, Ambulatory Surgery Centres (ASC), Others

Transportation Manufacturing Market Characteristics