The global ICU Beds Market is projected to grow at a CAGR of 9.3% from USD 1.90 billion in 2023 to USD 5.56 billion in 2032. The growing prevalence of the intensive care units in various healthcare verticals due to rising critical diseases, geriatric patients, pediatric deformity, chronic diseases, and epidemic novel diseases, ICU beds are predominantly being in demand. Specialization in design and advanced technological functions make it disparate from the ordinary hospital beds. Technological breakthroughs such as smart bed systems, remote or centralized control systems, multiple functions customizations for enhanced comfort, protective railing & barrier for fall protection, advanced monitoring sensors for health tracking, and many other futuristic solutions are some of flagship offerings provided by the key players that keep the ICU beds market highly competitive and open up many profitable opportunities for capital investment.
Tele-ICU has been one of the most trendy technology in the ICU management or critical care patient monitoring market, due to its cost-effective solutions against conventional 24/7 critical care team monitoring for a particular patient. Tele-ICU provides incessant technological advancements in centralized and remote patient monitoring through a number of hardware and software deployed in intensive care units. ICU beds that come along with this hardware can provide highly spontaneous solutions in the advanced monitoring and alarming systems. ICU bed manufacturing companies to invest in the R&D of such cutting-edge technologies or to partner up with third-party companies who offer such technologies have observed mentionable demands for their products in the end-use verticals.
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Material Outlook:
Copper is one of the most promising materials used in premium ICU beds manufacturing. The antimicrobial properties of copper has the ability to kill bacteria in hospital beds. According to a recent research study published by the American Society for Microbiology, Copper made ICU beds housed 95% lesser bacteria than the beds made of any other materials. However, due to a higher price margin of copper, hospital bed manufacturers barely use this material for the manufacturing purpose. ABS materials, with its high strength withstand capacity and comparatively lower pricing, are being widely adopted by the hospital bed manufacturing companies.
ICU BEDS MARKET: MATERIAL DYNAMICS (USD BILLION)
Type of ICU Beds Outlook:
Electric or Motorized ICU beds are being widely implemented in the general hospitals & super-specialty healthcare units. This type of bed is also more applicable to be used in the smart ICU beds solutions and also is used for major investments by the companies in the R&D for the futuristic solutions. Touch control panels require electric or semi-electric beds, and some of the premium electric ICU beds include centralized control panel and remotely used control panels. Electric beds are also an integrated solution of tele-ICU technologies. Electric ICU beds mostly come with the maximum number of operating functions that provide ultimate comfort and monitoring solutions used in the top tier healthcare units.
ICU BEDS MARKET: REGIONAL SHARE OF ELECTRIC OR MOTORIZED BEDS
End-Use Outlook:
General & Acute Care Hospitals dominate the ICU beds market as the general & acute care hospitals globally possess the highest number of ICU beds and also growing at a significant pace due to many initiatives taken by many state & central governments in many developed & developing countries. Although a higher growth rate has been observed in the ambulatory surgery centers (ASC) in many places around the globe. Ambulatory surgery centers are modern kind of healthcare facility centers, which are focused on providing immediate surgical care and releasing the patients right after the surgery or critical care. The ambulatory surgery centers have a more convenient outpatient alternative procedure to the hospital-based inpatient procedures, maintaining a strong track record of quality care with positive outcomes from patients. The number of ASCs are substantially rising around the world as the more healthcare providers & investors are finding promising growth in the outpatient facilities.
ICU BEDS MARKET: END-USE DYNAMICS (SHARE IN PERCENTAGE)
Regional Outlook:
North America accounted for around USD 4.77 billion in 2023 and is anticipated to be one of the key revenue-generating regions for the market. A large share of the region’s value comes from the U.S. owing to factors such as the early development of the technology, massive investment in the healthcare technology, highest critical care units per capita, higher number of multi-specialty units and highest number of COVID-19 infected patient counts in the world. The United States offers an average number of 34.7 beds per 100,000 of its citizens, which is highest in the world. Extensive investment in the healthcare sectors and world-class facilities in the hospitals made this country a leading nation in the market. North America also observes a record rise in the ambulatory surgical units. Increasing investment by the governments in North America amid the COVID-19 pandemic makes it a leading region with its high potentiality in the market growth.
The presence of key manufacturers, including Hill-Rom Holdings, Inc., Stryker Corporation, and Invacare Corporation, among others, is also likely to create growth opportunities for the market in this region.
REGIONAL DYNAMICS: END-USE OPPORTUNITIES
Market-O-Nomics
- Multi-Specialty Hospitals is expected to grow at a CAGR of 16.4% throughout the forecast period due to its massive deployment over the developing regions of Asia Pacific. Multi-specialty hospitals invest highest amongst all the verticals to ensure utmost customer satisfaction in their business.
- Traditional Medical ICU occupies the highest market share owing to its highest number of operational units and usage of ICU beds. A growing number of general & surgical ICUs wards are the notable driving sectors in this market.
- Mechanical or Manual ICU beds technology are the cheapest versions of the ICU beds and mostly being incorporated in the disaster management prevailing mobile critical care units. The market share is also highest for this sub-segment owing to its maximum usage in various end-use verticals
- Cardiac Care Unit (CCU) is recently observing a tremendous pace owing to the COVID-19 severe cases diagnosed worldwide. The CCU is projected to grow at a CAGR of 18.7% throughout the forecast period.
- Mobile ICU (MICU) is forecasted to accumulate the highest demand during this coronavirus pandemic, as more and more mobile critical care units are being set up every day in many countries worldwide.
Companies considered and profiled in this market study
The companies operating in the market can be segmented based on ICU beds final manufacturers, smart bed technology providers, electronics equipment providers, raw material for bed frame suppliers. Key manufacturers in the industry include Hill-Rom Holdings, Inc., Malvestio S.P.A., Carevel Medical Systems Private Limited, Stryker Corporation, Invacare Corporation, Linet Group SE, Stiegelmeyer-Group, Medtronic PLC, Meditech (India) PVT. LTD, and Medline Industries, Inc., among others, have been profiled in the report. Companies including BAM Labs, Besco Medical Co., Ltd., Antano Group GF, Health Products, Inc., and Midmark Corporation are few other smart ICU beds & solutions providers.
The players operating in the market have undertaken a number of strategies related to the market in the period 2023-2026. Some of the key highlights are:
- In December 2023, Hill-Rom, Inc., a US-based medical equipment manufacturing company specialized on advanced ICU beds, announced its Early Sense based continuous monitoring that would be integrated into their new smart bed line-ups, Centrella. The Early Sense will measure respiratory & heart rate more than 100 times per minute.
- In April 2020, Stryker Corporation, headquartered in Michigan, United States, a leader in medical technology equipment & machineries, announced its New Emergency Relief Bed line-ups to meet the exceeding demand of critical care & isolation beds due to the COVID-19 epidemic. Stryker designed these beds with simplest mechanism though capable of catering specialty patients. The main focal point of this innovation is that the company could manufacture as many as 10,000 beds per week to meet the high volume needs.
- In March 2020, Hill-Rom, Inc. extensively increased its production facilities for critical care units. Amid COVID-19 pandemic, special actions by the company have been initiated to ramp up the production in order to ensure that the company could supply enough amount of hospital beds to its customers worldwide. Apart from other critical care products, the production of smart beds by the company, namely Progressa, Centrella, Hillrom, and Accella, among others will be doubled.
Start-up Traction
The industry offers numerous growth opportunities. Thus, a number of startups providing innovative products and technologies have been entering the market. Some of them include Evida Healthcare, Get To Sleep Easy, Hoana Medical Inc., are a few name of the potential start-ups. The Sydney start-up Get To Sleep Easy showcased its Smart Inclining Bed solution, which can be placed onto any regular bed and would convert into a hospital style critical care bed with a fraction of price. Smart sensors are to be installed underneath the bed to map a patient’s movement and create an alert if the patient has fallen from the bed or stopped breathing.
Deals Landscape
Mergers and Acquisitions are an integral part of the ICU beds industry. Along with the companies operating in the market, other key market players have also been entering the industry.
- In May 2019, Finland based Lojer Group, a global leading designer & manufacturer of hospital & intensive care equipment, acquired the hospital bed business operation of Merivaara Group, a Finland headquartered leader in the intuitive healthcare technology.
- In March 2019, a renowned American healthcare bed manufacturer, Hill-Rom, Inc. announced its deal to acquire Voalte, a Florida, United States-based mobile healthcare communications developer. The companies together would be able to allow their customers with a single integrated solution that could deliver actionable insights from smart hospital beds.
- In February 2017, MedStorm, a notable provider of bed management services to the healthcare units, successfully acquired a controlling stake in MMO International, a France based hospital bed & furniture manufacturer.
MERGERS AND ACQUISITIONS: DEALS LANDSCAPE
Expert Insights:
Reports and Data forecasts promising developments for increased adoption of ICU beds. According to industrial experts, application-specific beds and remote controlling system are the high performing technologies in the market. Moreover, new manufacturers are expected to enter the market who are likely to come up with new solutions in the smart ICU bed systems. Apart from centralized remote control solutions, smart ICU bed solutions will bring in many technological breakthroughs that would unveil newer possibilities of health-tracking facilities embedded right in the beds. However, a massive inclination is being imposed on the technologies that can remarkably increase the production volume of the ICU beds in order to meet the excessive requirement of the same in this global COVID-19 pandemic situation.
Segments covered in the report
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2023 to 2032. The scope of the report can be defined as:
For the purpose of this study, have segmented the ICU Beds Market on the basis of technology, control panel, materials used, components, ICU type, end-use verticals, and region:
Technology Outlook (Revenue, USD Million; 2023-2032)
- Electric or Motorized
- Semi-Electric or Hybrid
- Mechanical or Manual
Control Panel Outlook (Revenue, USD Million; 2023-2032)
- Remote
- Touch
- Switch
- Revolving Gear
Materials Used Outlook (Revenue, USD Million; 2023-2032)
- Stainless Steel
- Aluminum
- Copper
- Alloy With Powder Coated
- ABS
- Others
Components Outlook (Revenue, USD Million; 2023-2032)
- Up to Three Functions
- Up to Five Functions
- Up to Seven Functions & Above
- CPR Functions
- Castors
- Head & Foot Board
- Side Railing
- Monitors
- Cameras
- Sensors
- Others
ICU Type Outlook (Revenue, USD Million; 2023-2032)
- Traditional Medical ICU (TMICU)
- General
- Surgical
- Cardiac Care Unit (CCU)
- Neonatal ICU (NICU)
- Pediatric ICU (PICU)
- Trauma ICU (TICU)
- Psychiatric ICU (PICU)
- Post-Anesthesia CU (PACU)
- High-Dependency Unit (HDU)
- Mobile ICU (MICU)
End-Use Outlook (Revenue, USD Million; 2023-2032)
- General & Acute Care Hospitals
- District
- State
- Urban
- Rural
- Multi-Specialty Hospitals
- Pediatric
- Cardiac
- Cancer
- Rehabilitation
- Psychiatric
- Others
- Specialized Hospitals
- Pediatric
- Cardiac
- Cancer
- Rehabilitation
- Psychiatric
- Others
- Ambulatory Surgery Centres (ASC)
- Others
Regional Outlook (Volume, Million Units; 2023-2032 and Revenue, USD Million; 2023-2032)
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- The U.K.
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East and Africa
- Latin America
- Brazil
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