Intensive Care Beds Market Analysis

Intensive Care Beds Market Analysis

The manual beds segment was valued at around USD 570 million in 2019 and is expected to register significant growth rate over 2020 to 2026. The manual ICU beds are less expensive and require minimum manufacturing costs as compared to other ICU beds. As the COVID-19 affected people are continuously rising globally, the demand for manual intensive care beds will increase in the upcoming years.
 

The specialized ICUs segment is estimated to expand at a CAGR of more than 4% over 2020 to 2026. The specialized ICUs provide an intensive care for the patients with critical medical conditions. The segmental growth is attributed to the advantages such as better physician convenience, expertise nurses and low risk of infections.
 

For instance, several medical professionals in the healthcare industry are treating the coronavirus affected people in specialized ICUs to prevent the risk of in-hospital transmission. Furthermore, the specialized unit has an ability to reduce the length of stay in the intensive care unit by showing significant recovery and positive results.
 

The hospitals segment was valued at around USD 800 million and is projected to witness substantial growth in the coming years. Rapid growth in the number of hospital admissions and increasing ratio of ICU beds to hospital beds are some of the major factors propelling the growth of intensive care beds market. For instance, according to a recently published data by Centre for Evidence-Based Medicine, in UK, the number of people admitted to hospitals with coronavirus symptoms stood at over 100,000.
 

U.S. dominated the North America intensive care beds market in 2019 and was valued at over USD 480 million. Exponentially rising COVID-19 cases will trigger the need for hospital admissions, thereby generating demand for intensive care beds in the coming years. According to an annual survey of hospitals conducted by the American Hospital Association, in 2018, there were over 100,000 ICU beds in all community hospitals in the U.S. Irrespective of such large volume of ICU beds, the country is focusing on increasing their ICU capacity to fight COVID-19.
 

Moreover, growing ageing population and increasing prevalence of chronic diseases will further contribute to the market growth. For instance, according to a recently published data by the National Council on Aging, around 77% of older inhabitants in the U.S. are suffering from at least two chronic diseases. Thus, owing to the higher risk of chronic disorders to older adults, there will be an upsurge in the intensive care beds in the future.
 

Spain intensive care beds market was valued at around USD 20 million in 2019 and is estimated to show more than 160% growth from 2019 to 2020. The exponential growth is attributed to rapid increase in number of COVID positive cases across the country. The critically ill patients of COVID-19 require specialized ICU admissions to provide advanced care in order to minimize the infection. Therefore, a surge is seen in the demand for intensive care beds across the country.
 

For instance, according to a recent news article, the library of the Germans Trias i Pujol hospital is transformed into intensive care unit with 20 ICU beds, mechanical ventilators and other medical equipment. This expansion of healthcare facilities will help the country to treat critically unwell patients suffering from coronavirus disease. In addition, as per the recent news article, nearly all the provinces in Spain are at the peak of COVID-19 pandemic. Hence, there is an excess demand for intensive care beds in Spain as compared to other countries in the Europe.