Smart Medical Beds Market

Increasing incidences of multimorbidity fuels market growth

The main cause of multimorbidity is demographic change, and as per research, this trend will be continuously growing. Furthermore, multimorbidity has become more prevalent in the geriatric population over time. In the elderly population, some common multimorbidity include respiratory disease, hypertension, heart disease, and cerebrovascular disease. According to the World Health Organization, there were 703 million people aged 65 and up in 2019. Furthermore, in studies, children and young adults have been identified as having an increasing multimorbidity rate- both physical and mental disorders.

In addition, the growing number of surgical procedures is driving up demand for smart beds, which assists nurses to move patients through automatic turn assist feature. Also, post-operative patients require critical care in ambulatory surgical centres and intensive care units. Hence, increasing multimorbidity, a rising geriatric population, and an increasing number of surgical procedures are due to increasing chronic diseases such as cancer and diabetes.

The Global Smart Medical Beds Market Industry is significantly influenced by the aging population, which is leading to a higher prevalence of chronic illnesses and mobility issues. As the global demographic shifts towards an older population, the demand for specialized healthcare solutions, including smart medical beds, is expected to rise. These beds provide essential features such as adjustable heights and support for various medical conditions, catering to the needs of elderly patients. By 2035, the market is anticipated to grow to 6.62 USD Billion, driven by the necessity for improved patient care and comfort in geriatric healthcare.

The Global Smart Medical Beds Market Industry is experiencing rapid growth due to continuous technological advancements. Innovations such as integrated sensors, automated adjustments, and connectivity with health monitoring systems enhance patient care and comfort. For instance, smart beds equipped with pressure sensors can detect patient movements and adjust positions accordingly, reducing the risk of bedsores. The integration of IoT technology allows healthcare providers to monitor patients remotely, facilitating timely interventions. As a result, the market is projected to reach 3.11 USD Billion in 2024, reflecting the increasing demand for high-tech solutions in healthcare settings.

The Global Smart Medical Beds Market Industry is witnessing a paradigm shift towards patient-centric care, emphasizing the importance of comfort and personalized treatment. Healthcare providers are increasingly recognizing that patient satisfaction directly impacts recovery rates and overall health outcomes. Smart medical beds, with features such as adjustable firmness and temperature control, cater to individual patient needs, enhancing their experience during hospitalization. This focus on personalized care is likely to drive market growth as hospitals and care facilities seek to improve service quality and patient engagement, aligning with contemporary healthcare trends.

Increased healthcare expenditure globally is a pivotal driver for the Global Smart Medical Beds Market Industry. Governments and private sectors are investing heavily in healthcare infrastructure, aiming to enhance patient outcomes and operational efficiency. This financial commitment facilitates the adoption of advanced medical technologies, including smart beds that offer enhanced functionalities. Countries with robust healthcare systems are particularly focused on integrating smart solutions to optimize patient management. The projected compound annual growth rate of 7.11% from 2025 to 2035 indicates a sustained investment trend, further propelling the market forward.

The Global Smart Medical Beds Market Industry is also benefiting from the rising demand for home healthcare solutions. As more patients prefer receiving care in the comfort of their homes, the need for advanced medical equipment, including smart beds, is growing. These beds provide essential functionalities that support recovery and daily living activities, making them ideal for home care settings. The trend towards home healthcare is expected to accelerate market growth, as families and caregivers seek reliable solutions to manage health conditions effectively. This shift could further enhance the market's trajectory in the coming years.

By Region, the study segments the market into North America, Europe, Asia-Pacific, and Rest of the World. North America smart medical beds market accounted for the largest market share in 2022, due to the high adoption of smart medical beds in the hospitals and clinics and the growing number of surgical procedures owing to the high incidences of chronic diseases such as heart and cancer in the region.

Further, the major countries studied are: The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: SMART MEDICAL BEDS MARKET BY REGION 2022 & 2030 (USD Billion)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe smart medical beds market accounts for the second-largest market share rising demand for better health for the ageing population and increasing prevalence of chronic diseases. According to the Eurostat, more than one third of European population diagnosed with long standing chronic problems in 2022. Furthermore, the Germany market of smart medical beds attributed to hold the largest market share in 2022, and the France market of smart medical beds is projected to be the fastest growing market in the Europe region.

The Asia-Pacific smart medical beds market is expected to grow at a significant share from 2023 to 2030 owing to the growing incidence of diseases such as diabetes & obesity and rising geriatric population. Moreover, China market of smart medical beds estimated to hold the largest market share in 2022, and the India market of smart medical beds is projected to be the fastest growing market in the Asia-Pacific region.

Major market players are spending a lot of money on R&D to increase their product lines, which will help the market of smart medical beds grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the smart medical beds industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

Stryker (US) is engaged in developing, manufacturing, and marketing specialty surgical and medical products. The company's products include implants, biologics, surgical, neurologic, ear, throat and interventional pain equipment, endoscopic, surgical navigation, communications, and digital imaging systems, along with patient handling and emergency medical equipment. In 75 countries, the company sells its products to doctors, hospitals, and other healthcare facilities through company-owned subsidiaries and branches, as well as third-party dealers and distributors. In October 2020, the company launched ProCuity, a wireless hospital bed, globally. The bed incorporates cutting-edge technology to promote safe patient handling and help reduce fall-related injuries.