HOSPITAL BEDS MARKET ANALYSIS

Hospital Beds Market, By Type (Electric Beds, Semi-electric Beds, and Manual Beds), By Application (Acute Care, Psychiatric Care, Long-term Care, and Others), By End User (Hospitals, Home Care Settings, Elderly Care Facilities, Ambulatory Surgical Centers, and Others), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)

Published In : Apr 2024
Code : CMI993
Pages :120
Formats :
Excel and PDF
Industry : Medical Devices

Market Challenges – Increasing Product Recalls

Increasing number of product recalls by government agencies, such as the U.S. Consumer Product Safety Commission (CPSC), is expected to hinder the market growth. For instance, in December 2021, U.S. Consumer Product Safety Commission (CPSC) voluntarily recalled 105,000 bed rails, which were manufactured by Compass Health Brands, a medical device company, after receiving three death reports associated with the product. The bed rails was recalled as it was not properly attached to the bed and the user became entrapped between the bed and the mattress.

Market Opportunities – Increasing Adoption of Inorganic Growth Strategies

Increasing collaborations among key market players is expected to offers lucrative opportunities in the market over the forecast period. For instance, in June 2023, Brigade Foundation, a non-profit organization, collaborated with St John’s Medical College Hospital to set up two hospitals of 100 beds each. The hospitals are expected to be operational in calendar years 2024 and 2025, respectively.