Electric Bed Market – Industry Insights by Application, 2027

The global electric bed market size was valued at USD 2.40 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.8% from 2021 to 2027.

 The global Electric Bed Market size is expected to reach USD 3.80 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.8% from 2021 to 2027. The increasing number of accident cases across the globe, the growing geriatric population, the rising number of surgical procedures globally, and the recent outbreak of COVID-19 are the key factors driving the market.

The number of road accidents is rapidly increasing, leading to a rise in the need for electric beds in hospitals and clinics. For instance, according to the Association for Safe International Road Travel (ASIRT), around 20.00 to 50.00 million people are injured or disabled every year. Road traffic accidents are the 9th leading cause of death worldwide. ASIRT also reported that in the U.S., more than 37,000 people die in road accidents per year and around 2.35 million are injured or disabled. In some cases, road accidents require immediate surgery and care, and thus in such cases, an electric bed is one of the essential requirements.

As per the Ministry of Road Transport and Highways, Government of India, in 2016, around 494,624 people were injured in road accidents. This number has increased by 25.6% from 2007 to 2017. In 2016, the states that recorded the highest number of road accidents were Uttar Pradesh (25,096), Tamil Nadu (82,163), Maharashtra (35,884), and Karnataka (54,556). Therefore, such instances indicate considerable growth of the market over the forecast period. In addition, the growing geriatric population, which is more susceptible to various diseases, and increasing hospital admissions are anticipated to propel the market growth. For instance, as per the U.S. Census Bureau, the number of people aged 65 or older increased by 1.6 million from 2015 to 2016. Hence, the increasing geriatric population is also expected to propel the market growth over the forecast period.

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Electric Bed Market Report Highlights

• In terms of product, the semi-automatic electric bed segment held the largest share in 2020. The increasing number of hospital admissions across the globe is expected to fuel the segment growth over the forecast period
• Based on application, the general bed segment held the largest market share in 2020 owing to the rising number of accident cases across the globe
• By end use, the hospitals and clinics segment is anticipated to witness the fastest growth over the forecast period owing to the increasing number of hospital admissions due to the recent outbreak of COVID-19
• Asia Pacific is anticipated to witness the fastest growth over the forecast period owing to the rising number of surgeries and the presence of many local key players