Homecare Beds Market Key Findings and Share by 2031
The Homecare Beds Market is expected to register a CAGR of 6.1% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Product Type (Manual Homecare Bed, Electric Homecare Bed). The report further presents analysis based on the Usage (Acute Care, Long term Care, Psychiatric and Bariatric care, Others). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Homecare Beds Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Homecare Beds Market Segmentation
Product Type- Manual Homecare Bed
- Electric Homecare Bed
- Acute Care
- Long term Care
- Psychiatric and Bariatric care
- Others
Strategic Insights
Homecare Beds Market Growth Drivers- Growing Population of Older Individuals: The world homecare beds market is chiefly fueled by the growing geriatric population in the world. Population projections stated by the UN reveal that the number of individuals aged over 60 years, which is currently about 1 billion, will go up to 2.1 billion by the year 2050. As people grow old, they tend to develop some chronic illnesses and disabilities that will call for long-term medical care and attention. Homecare beds are essential in providing the old with the comfort that they would obtain in the hospital without being admitted into one.
- Rising Incidence of Chronic Conditions: Certain chronic conditions like arthritis, diabetes, heart ailments, and lung-related illnesses have globally been on the rise. The reason being that, they are the types of conditions that would in most cases need an individual to be able to manage them over a long period of time and most likely require appliances such as homecare beds. Adjustable and specialized beds which allow for height adjustment, reclining and pressure-relieving surfaces are also used widely to control chronic illnesses and enhance the health status of patients.
- Cost-Effective Healthcare Solutions: Home healthcare has been on the rise and is viewed in many circles as a more cost-effective approach as opposed to hospitalizations and nursing homes. Care delivered in a domestic environment known as homecare is made possible with the use of homecare beds where patients receive generally quality but non-hospital based care. This is appealing to healthcare systems and patients alike and contributes in enhancing the market for homecare beds. Home healthcare is also the case among patients who wish to recuperate at home instead of the hospital, thus increasing the demand for such facilities and services.
- Smart and Digitally Connected Home Care Beds: Integration of smart technology is on the rise in the market for homecare beds. The connected home care beds today are fitted with sensors, mobile apps, and monitoring devices that enable caregivers and healthcare providers to remotely monitor the health and other metrics of a patient. For instance, some homecare beds are designed to track the patient’s weight, sleeping patterns, movements, as well as send alerts to the caregivers in case of any issues that may pose threat to the patient’s health. It is clear that this trend will deepen as more health systems adopt digital health transformation.
- Tailored and Pleasant: The need for more tailored health care solutions has dictated to some extent the structure of the homecare beds. Contemporary beds incorporate features that may include height adjustment, tilt and backrest positions adjustment, use of pressure-relief bariatric surfaces, and memory foam mattresses. These beds are used by patients with peculiar needs such as those who cannot walk, those with back pain or those that simply need comfort from the bed. The ability to customize beds to suit the needs of the patients is gradually improving the total patient satisfaction and health results.
- Incorporating Pressure Relief Systems: Pressure ulcers also referred to as bedsores are one of the major problems faced by bedridden patients for a long duration. Hence, the beds that are aimed for use at home are such that they design to include relief systems for pressure such as; mattresses that are alternated with the patient or beds with air pads. These beds assist in changing the distribution of the body weight in order to avert the development of pressure sores, which is pertinent especially in the nursing of older patients and those patients that are less mobile.
- Garnering Support from Health Service Providers: Collaboration has many dimensions and currently homecare bed producers have a chance to work with other healthcare sectors such as hospitals, nursing homes, rehabilitation centers, etc. Through partnership, the manufactures remains at the very center of solutions development and makes certain that the goods and services are relevant to health care systems, hence the need for integrated care. Furthermore, these collaborations can assist in creating awareness on the advantages of homecare beds to more patients and their caregivers, thus enhancing the market.
- Adding New Capabilities to the Product: With changing tastes in patient care, opportunities in homecare bed design go on. Manufacturers can establish a competitive edge through the incorporation of more advanced technologies such as automated repositioning, AI predictive analytics of health metrics designed to monitor a patient's wellbeing or even sophisticated pressure reliefs. There is also going to be an emphasis on product development as per comfort, safety, and ease of use, which much healthcare providers and consumers will appreciate, thus growth of the market bubble.
- Increase in Home Healthcare Services: The trend that encourages home even health services backed by the rapid spread of COVID 19 is an opportunity that will last for as long as the homecare bed market exists. More and more people are requiring house calls, hence the increase in the need for homecare beds. Also, due to the rising awareness regarding home healthcare and a preference for aging-in-place in most areas, the demand will also increase.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Homecare Beds Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Homecare Beds Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Manual Homecare Bed segment, by product type, dominated the market in 2023.
Players operating in the market are Hill-Rom Holdings Inc, Medline Industries Inc., Malvestio S.P.A., Paramount Bed Holdings Co. Ltd., Merivaara Corp,. Linet Spol. S.R.O., Lojer Group, Amico Corporation, Getinge AB, Stryker Corporation.
North America region dominated the Homecare Beds market in 2023.
Garnering Support from Health Service Providers act as a opportunity for growth of the market in forecast period.
The Homecare Beds Market is estimated to witness a CAGR of 6.1% from 2023 to 2031
The major factors driving the Homecare Beds market are:
1. Growing Population of Older Individuals
2. Rising Incidence of Chronic Conditions
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Homecare Beds Market - By Product Type
1.3.2 Homecare Beds Market - By Usage
1.3.3 Homecare Beds Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. HOMECARE BEDS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. HOMECARE BEDS MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. HOMECARE BEDS MARKET - GLOBAL MARKET ANALYSIS
6.1. HOMECARE BEDS - GLOBAL MARKET OVERVIEW
6.2. HOMECARE BEDS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. HOMECARE BEDS MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
7.1. OVERVIEW
7.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3. MANUAL HOMECARE BED
7.3.1. Overview
7.3.2. Manual Homecare Bed Market Forecast and Analysis
7.4. ELECTRIC HOMECARE BED
7.4.1. Overview
7.4.2. Electric Homecare Bed Market Forecast and Analysis
8. HOMECARE BEDS MARKET - REVENUE AND FORECASTS TO 2028 - USAGE
8.1. OVERVIEW
8.2. USAGE MARKET FORECASTS AND ANALYSIS
8.3. ACUTE CARE
8.3.1. Overview
8.3.2. Acute Care Market Forecast and Analysis
8.4. LONG TERM CARE
8.4.1. Overview
8.4.2. Long term Care Market Forecast and Analysis
8.5. PSYCHIATRIC AND BARIATRIC CARE
8.5.1. Overview
8.5.2. Psychiatric and Bariatric care Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. HOMECARE BEDS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Homecare Beds Market Overview
9.1.2 North America Homecare Beds Market Forecasts and Analysis
9.1.3 North America Homecare Beds Market Forecasts and Analysis - By Product Type
9.1.4 North America Homecare Beds Market Forecasts and Analysis - By Usage
9.1.5 North America Homecare Beds Market Forecasts and Analysis - By Countries
9.1.5.1 United States Homecare Beds Market
9.1.5.1.1 United States Homecare Beds Market by Product Type
9.1.5.1.2 United States Homecare Beds Market by Usage
9.1.5.2 Canada Homecare Beds Market
9.1.5.2.1 Canada Homecare Beds Market by Product Type
9.1.5.2.2 Canada Homecare Beds Market by Usage
9.1.5.3 Mexico Homecare Beds Market
9.1.5.3.1 Mexico Homecare Beds Market by Product Type
9.1.5.3.2 Mexico Homecare Beds Market by Usage
9.2. EUROPE
9.2.1 Europe Homecare Beds Market Overview
9.2.2 Europe Homecare Beds Market Forecasts and Analysis
9.2.3 Europe Homecare Beds Market Forecasts and Analysis - By Product Type
9.2.4 Europe Homecare Beds Market Forecasts and Analysis - By Usage
9.2.5 Europe Homecare Beds Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Homecare Beds Market
9.2.5.1.1 Germany Homecare Beds Market by Product Type
9.2.5.1.2 Germany Homecare Beds Market by Usage
9.2.5.2 France Homecare Beds Market
9.2.5.2.1 France Homecare Beds Market by Product Type
9.2.5.2.2 France Homecare Beds Market by Usage
9.2.5.3 Italy Homecare Beds Market
9.2.5.3.1 Italy Homecare Beds Market by Product Type
9.2.5.3.2 Italy Homecare Beds Market by Usage
9.2.5.4 Spain Homecare Beds Market
9.2.5.4.1 Spain Homecare Beds Market by Product Type
9.2.5.4.2 Spain Homecare Beds Market by Usage
9.2.5.5 United Kingdom Homecare Beds Market
9.2.5.5.1 United Kingdom Homecare Beds Market by Product Type
9.2.5.5.2 United Kingdom Homecare Beds Market by Usage
9.2.5.6 Rest of Europe Homecare Beds Market
9.2.5.6.1 Rest of Europe Homecare Beds Market by Product Type
9.2.5.6.2 Rest of Europe Homecare Beds Market by Usage
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Homecare Beds Market Overview
9.3.2 Asia-Pacific Homecare Beds Market Forecasts and Analysis
9.3.3 Asia-Pacific Homecare Beds Market Forecasts and Analysis - By Product Type
9.3.4 Asia-Pacific Homecare Beds Market Forecasts and Analysis - By Usage
9.3.5 Asia-Pacific Homecare Beds Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Homecare Beds Market
9.3.5.1.1 Australia Homecare Beds Market by Product Type
9.3.5.1.2 Australia Homecare Beds Market by Usage
9.3.5.2 China Homecare Beds Market
9.3.5.2.1 China Homecare Beds Market by Product Type
9.3.5.2.2 China Homecare Beds Market by Usage
9.3.5.3 India Homecare Beds Market
9.3.5.3.1 India Homecare Beds Market by Product Type
9.3.5.3.2 India Homecare Beds Market by Usage
9.3.5.4 Japan Homecare Beds Market
9.3.5.4.1 Japan Homecare Beds Market by Product Type
9.3.5.4.2 Japan Homecare Beds Market by Usage
9.3.5.5 South Korea Homecare Beds Market
9.3.5.5.1 South Korea Homecare Beds Market by Product Type
9.3.5.5.2 South Korea Homecare Beds Market by Usage
9.3.5.6 Rest of Asia-Pacific Homecare Beds Market
9.3.5.6.1 Rest of Asia-Pacific Homecare Beds Market by Product Type
9.3.5.6.2 Rest of Asia-Pacific Homecare Beds Market by Usage
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Homecare Beds Market Overview
9.4.2 Middle East and Africa Homecare Beds Market Forecasts and Analysis
9.4.3 Middle East and Africa Homecare Beds Market Forecasts and Analysis - By Product Type
9.4.4 Middle East and Africa Homecare Beds Market Forecasts and Analysis - By Usage
9.4.5 Middle East and Africa Homecare Beds Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Homecare Beds Market
9.4.5.1.1 South Africa Homecare Beds Market by Product Type
9.4.5.1.2 South Africa Homecare Beds Market by Usage
9.4.5.2 Saudi Arabia Homecare Beds Market
9.4.5.2.1 Saudi Arabia Homecare Beds Market by Product Type
9.4.5.2.2 Saudi Arabia Homecare Beds Market by Usage
9.4.5.3 Rest of Middle East and Africa Homecare Beds Market
9.4.5.3.1 Rest of Middle East and Africa Homecare Beds Market by Product Type
9.4.5.3.2 Rest of Middle East and Africa Homecare Beds Market by Usage
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Homecare Beds Market Overview
9.5.2 South and Central America Homecare Beds Market Forecasts and Analysis
9.5.3 South and Central America Homecare Beds Market Forecasts and Analysis - By Product Type
9.5.4 South and Central America Homecare Beds Market Forecasts and Analysis - By Usage
9.5.5 South and Central America Homecare Beds Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Homecare Beds Market
9.5.5.1.1 Brazil Homecare Beds Market by Product Type
9.5.5.1.2 Brazil Homecare Beds Market by Usage
9.5.5.2 Argentina Homecare Beds Market
9.5.5.2.1 Argentina Homecare Beds Market by Product Type
9.5.5.2.2 Argentina Homecare Beds Market by Usage
10. IMPACT OF COVID-19 PANDEMIC ON GLOBAL HOMECARE BEDS MARKET
10.1 North America
10.2 Europe
10.3 Asia-Pacific
10.4 Middle East and Africa
10.5 South and Central America
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. HOMECARE BEDS MARKET, KEY COMPANY PROFILES
12.1. HILL-ROM HOLDINGS, INC
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. MEDLINE INDUSTRIES, INC.
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. MALVESTIO S.P.A.
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. PARAMOUNT BED HOLDINGS CO., LTD.
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. MERIVAARA CORP.
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. LINET SPOL. S.R.O.
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. LOJER GROUP
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. AMICO CORPORATION
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. GETINGE AB
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. STRYKER CORPORATION
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1. Hill-Rom Holdings Inc
2. Medline Industries Inc.
3. Malvestio S.P.A.
4. Paramount Bed Holdings Co. Ltd.
5. Merivaara Corp.
6. Linet Spol. S.R.O.
7. Lojer Group
8. Amico Corporation
9. Getinge AB
10. Stryker Corporation.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
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Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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