Electric Bed Market: Latest Innovations, Future Scope and Market Trends

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Electric Bed Market: Latest Innovations, Future Scope and Market Trends

According to our new research study on "Electric Bed Market to 2027 - COVID-19 Impact and Analysis

According to our new research study on "Electric Bed Market to 2027 - COVID-19 Impact and Analysis by Product, Application, and End User," the market is expected to reach US$ 4,597.60 million in 2027 from US$ 2,111.59 million in 2019. The market is estimated to grow ata CAGR of 9.6% from 2020 to 2027.The growth of the market is attributed to key driving factors such as rising number of chronic diseases, increasing number of hospitals and clinics, and growing number of public-private partnership in the healthcare industry. However, the steep prices of electric beds and reduction in average length of hospital stays are likely to hinder the market growth.

Based on product,the electric bed market is fragmented into self-loader electric bed and completely automatic electric bed. The self-loader electric bed portion held alargershare of the market in 2019,while the completely automatic electric bed fragment is expected to grow at ahigher CAGR during the forecast time frame. The increasing number of patients combined with patient consistence and improvement in the nature of care given by healthcare institutions acrossthe world isexpected to expand the growth of the completely automatic electric beds fragment during the coming years.

The vast majority of the worldwide healthcare players focus on the emerging market such as APAC due to increasingprevalence of chronic diseases (including diabetes) and rising clinical tourism in the region. A large number of the Asian nations such as India, Thailand, and Singapore are becoming the destination for clinical tourists. Additionally, government experts in APAC nations are focusing on strengthening their clinical tourism sector, thereby maximizing the progression of income. In India, clinical science has grown quickly in the past couple of many years. Numerous patients from Europe and the Center East are choosing India as their number one destination to use the accessibility of productive infrastructures and innovation with the Indian healthcare sector. The health care coverage market and National clinical frameworks here are advanced, which is convenient for visitors from the West and the Center East. Nevertheless, they additionally find hospital costs reasonable.

In Japan, the escalating number of unfamiliar visitors is likely to project the healthcare sector as one of the main contributors to the national economy in the coming years. Poland is consistently growing as one of the famous clinical tourism destinations in Europe. The expense of clinical medicines in the nation are often 60-80% lower than the expenses of similar advantages in the remainder of the EU nations. The significant reason for the growth of tourism is Poland's recognition and acknowledgment of the European Union.

The rising clinical tourism, particularly in the emerging nations, is expected to give critical growth potential open doors to the electric bed market players during the forecast time frame.

The COVID-19 pandemic is causing massive disruptions in worldwide stockpile chains, consumer markets, and the economy all in all. However, the demand for electric beds hasincreased because of COVID 19 as the hospital beds playa essential job in the care expected for COVID-19 victims. The condition of patients not receiving care might be fatal and thus the initial months of transfection brought about whooping demand for cutting edge beds for patient care.

Arjo Medical Devices;Hill Rom Holding, Inc.;Medline Industries, Inc.;Paramount Bed Holdings Co., Ltd.;Invacare Corporation;Stryker Corporation;Malvestio Spa;LINET;Gendron Inc.;and Joerns Healthcare LLCare among the leading companies in the electric bed market.

The report segments electric bed market as follows:

By Product