USD 2.99 billion
Report ID: SQMIG35B2052 | Region: Global | Published Date: April, 2023 | Pages: 165 | Tables: 38 | Figures: 73
Global Healthcare Smart Beds Market size was valued at USD 2.99 billion in 2021 and is poised to grow from USD 3.16 billion in 2022 to USD 5.25 billion by 2030, growing at a CAGR of 5.8% in the forecast period (2023-2030).
The frequency and duration of hospital stays have been growing as the incidence of chronic illnesses and the number of life-saving procedures have increased. Furthermore, the COVID-19 epidemic has created a considerable demand for smart beds in hospitals all over the world.
Smart beds are linked to electronic medical records (EMR) or electronic health records (EHR), which provide a wealth of medical data, including personal statistics such as weight, body temperature, heartbeat, blood, oxygen, and other vital signs, medication, laboratory test results, allergies, and immunisation status. This helps healthcare practitioners decide the best course of action based on pertinent facts about a patient's medical history. Moreover, nursing staff can use the provided data to enhance patient care.The frequency and duration of hospital stays have been growing as the incidence of chronic illnesses and the number of life-saving procedures has increased. Furthermore, the COVID-19 epidemic has created a considerable demand for smart beds in hospitals all over the world.Health care smart beds can increase patients’ safety by automatically transferring all data in real-time over the wireless network, allowing medical teams to instantly review and monitor patients’ vitals. Besides, these beds can send alerts to the medical team if there are any sudden changes in a patient’s health or movement, allowing medical personnel to intervene before the patient’s health deteriorates.
US Healthcare Smart Beds Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 2.99 billion
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Global Healthcare Smart Beds Market is segmented based on application into hospitals, outpatient clinics, medical nursing homes, medical laboratory and research. By region, Healthcare Smart Beds Market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Healthcare Smart Beds Market Analysis by Application
By application, hospital segment contributed over 70% to the global healthcare smart beds market in 2021 and is projected to stay dominating the market revenue. Hospitals are the leading consumers of smart beds because they understand the importance of promoting a healthy environment for their patients. By using smart beds, hospitals can improve patient safety by monitoring vital signs, tracking medication compliance, and preventing medical errors. Hospitals also save money by reducing the number of times that patients need to be moved from one room to another.
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North America dominated the global healthcare smart beds market in 2021, accounting for more than 55% of the global market revenue. This is because healthcare smart beds are employed in acute care or long-term care institutions. North America has the best quality healthcare in the world. This is because it is a region that has been influenced by many different cultures and has developed its own unique system of healthcare.
North America has a wide variety of healthcare providers across the US and Canada, which means that everyone can find a doctor that specializes in their area of concern. There are also many hospitals and clinics throughout the continent, which means that anyone can get the care they need without having to travel long distances. Furthermore, the healthcare system is funded by government agencies, so it is highly accessible to everyone.
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Healthcare Smart Beds Market Driver
The drastically growing IoT devices with future advancements and innovation will aid in the expansion of the market.The hospital bed has been reimagined, new smart beds monitor up to 35 data points, including a patient’s weight, body temperature, and heartbeat; and include blood, oxygen, and pressure sensors. The beds will electronically update a patient’s medical record with all data, including how many times the patient left their bed and how often they’ve been turned in bed. Some smart beds even include verbal alerts that can be triggered, like, “please don’t get up,” and USB ports for patients to charge their mobile devices.These innovations and integration of IoT with the healthcare smart beds will propel the Growth of the market.
Healthcare Smart Beds Market Restraint
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Global healthcare smart beds market has become highly competitive on account of strong presence of numerous well-established players. These players are also controlling a sizable portion of the global market. On the other hand, SMEs are struggling to expand their expansion and are majorly catering to local or regional markets with limited product portfolio. It has been found that most of the leading players are focused on strengthening their distribution network in order to tap the maximum possible market share. As a result, they have become prominent brands and able gain consumer’s trust in their products.
Healthcare Smart Beds Market Top Players Company Profiles
Healthcare Smart Beds Market Recent Developments
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Global healthcare smart beds market has been witnessing increased adoption among hospitals. With each passing year, hospitals are starting to install more smart beds in order to improve the patient's experience. These beds have sensors that track the patient's vitals and other information. This information is then used to provide a more personalized experience for the patient. The bed also has cameras that can monitor the patient's health.
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|Market size value in 2021||USD 2.99 billion|
|Market size value in 2030||USD 3.16 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Healthcare Smart Beds Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Healthcare Smart Beds Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Healthcare Smart Beds Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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