Medical Beds & Chairs: Introduction
- Medical beds and chairs are designed to provide quality and comfort of sleep to patients, who are admitted to hospitals. These medical equipment provide flexibility and relaxation to patients.
- Medical chairs are primary medical equipment for moving of patients. Medical chairs are easy-to-use and offer safe transfer of patients. These are specially designed chairs for senior citizens, disabled persons, and persons with other special conditions for mobility and security.
Global Medical Beds & Chairs Market: Drivers and Restraints
- Increase in geriatric population, rise in chronic diseases, and rapid technological innovations are the major factors projected to drive the global medical beds & chairs market in the next few years. For example, the world’s population is aging rapidly, especially in some of the developed countries, such as the U.S. and Japan. Developed economies exhibit high rates of aging. According to the World Health Organization, the global geriatric population is likely to reach around 2 billion (22% of global population) by 2050, as against 900 million in 2015. Countries such as India, China, Thailand, and South Korea are expected to have a large geriatric population in the shortest span of time in the near future.
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- According to research findings by the International Agency for Research on cancer, presently, over 16 million people suffer from cancer across the world. This number is anticipated to increase to 25 million by 2035. Moreover, nearly 24.8 million new cancer cases are likely to be detected by 2030. This will increase the demand for medical beds and chairs in the next few years.
- Increase in number of patients admitted to hospitals and clinics and rise in demand for multi-functional and affordable medical equipment are the other factors fueling the growth of the global medical beds & chairs market. However, lack of trained medical professionals to handle critical patients and cost of hospitalization are factors projected to hamper the growth of the global medical beds & chairs market.
North America to Account for Major Share of Global Medical Beds & Chairs Market
- North America dominated the global medical bed & chairs market in 2019, followed by Europe. Rise in prevalence of diseases, increase in health care expenditure, technological advancements, and well-developed health care infrastructure are attributed to the dominance of these regions.
- The medical beds & chairs market in Asia Pacific is projected to grow at a rapid pace in the next few years. This is due to increase in the number of accidents, developing health care infrastructure, rise in disposable income, and surge in the geriatric population in the region. Developing countries such as the Philippines, Singapore, India, and China are anticipated to propel the medical beds & chairs market in Asia. Moreover, advancements in technology and manufacturing processes in developing countries are creating new opportunities for companies in the global medical beds & chairs market. Increase in the number of mergers & acquisitions, rise in the number of collaborations & partnerships, and new product launches are some of the latest trends in the global medical beds & chairs market.
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Key Players Operating in Global Medical Beds & Chairs Market
The global medical beds & chairs market is saturated, with key manufacturers adopting various strategies to gain market share.
Leading players in the global medical beds & chairs market are:
- Stryker Corporation
- Graham Field Health Products, Inc.
- Hill-Rom, Inc.
- Sunrise Medical
- NOA Medical Industries, Inc.
- M.C. Healthcare Products, Inc.
- HARD Manufacturing Co., Inc.
- Columbia Medical
- Invacare Corporation
Global Medical Beds & Chairs Market, by Type of Care
- Bariatric Care
- Fall Prevention
- Critical Care
- Wound Care
Global Medical Beds & Chairs Market, by Type of Medical Bed
- Curative Care Beds
- Psychiatric Care Beds
- Long-term Care Beds
Global Medical Beds & Chairs Market, by Type of Chair
- Surgical Chairs
- Dental Chairs
- MRI Chairs
Global Medical Beds & Chairs Market, by End-user
- Nursing Homes
- Academic & Research Institutes
Global Medical Beds & Chairs Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.