According to the Graphical Research new growth forecast report titled Europe Intensive Care Beds Market Share is set to exceed USD 1.7 billion by 2026. Growing covid-19 pandemic across the Europe has increased the demand for intensive care beds that has further propelled the market growth positively. According to the news article, on 29th April 2020, around 129,431 deaths were reported in Europe owing to the coronavirus. Hence, owing to the growing incidences of covid-19 and also due to its rapid spread the demand for intensive care beds is significantly growing in the region. Furthermore, rising number of hospital admissions has further led to the demand for these beds which will significantly propel the market in the coming years.
The growing number of coronavirus cases coupled with rising geriatric population in Italy led to the exponential demand for intensive care beds. Owing to the rising number of covid-19 patients, the European countries started to increase the hospital capabilities with the intensive care beds that in turn propelled the market growth across the region. Moreover, growing geriatric population in Europe has further driven the demand for these beds. Increasing prevalence of chronic diseases has also fueled the demand for intensive care beds. Hence, owing to the above mentioned factors the intensive care beds market will witness a substantial market growth across the region. However, high cost of ICU beds as compared to other hospital beds in European countries may witness a decline in the market growth.
Electric beds segment held substantial revenue share in 2019 and is estimated to witness around 3.0% CAGR over the analysis timeframe. Increasing adoption of technologically advanced beds will augment the segmental growth. With the growing occurrences of cardiovascular diseases, respiratory diseases, diabetes and other medical emergencies, the demand for patient care services is exponentially rising. As a result, majority hospitals are emphasizing on increasing the number of hospital beds to accommodate patients in emergency department. Thus, with the rising number of hospital beds along with growing popularity of electric hospital beds will assist to meet patient demand, thereby driving the market growth.
Specialized ICU segment was valued around USD 245 million in 2019. This is attributed to the several advantages including expertise nurses, better physician convenience, reduction of diagnosis & treatment variability and low risk infections. Furthermore, the specialized unit has an ability to reduce the length of stay in the intensive care unit by showing significant recovery and positive results. Hence, owing to the above mentioned factors the market will witness a substantial growth over the years to come.
Hospitals segment held the largest revenue share in 2019 and is expected to follow the same trend in the upcoming years. The high growth is attributed to the rising pandemic of covid-19 across the European region and rapid spread of the disease that led to the significant rise in the hospital admission. As a result, hospitals across the Europe had to increase the capacity of ICU beds that in turn boost the market growth positively. For instance, in Lombardy, the total capacity of ICU beds was 842 which were extended up to 1500 owing to this pandemic. Among 1500, 1330 are completely dedicated to the patients suffering from Covid-19. Hence, owing to these factors the market will witness an exponential rise in the growth rate.
Italy intensive care beds market was valued at around USD 28 million in 2019. This is attributed to the significant upsurge in the hospital admission of patients suffering from covid-19 and other chronic diseases. Hospitals in Italy are continuously witnessing a surge of patients requiring intensive care. Owing to which the country grew its intensive care beds capacity by 15% that means 800 additional beds exclusively for Covid-10 patients. Hence, owing to the rising pandemic the country will witness a substantial growth in intensive care beds market in the following years.
Major market players in the market are Stryker, Hill-Rom Holdings, Getinge, Invacare, Medline, Malvestio, Stiegelmeyer, Merivaara and Span-America Medical Systems among others. These players are majorly focusing on various strategies such as production expansions, new product launches, acquisitions, partnerships and collaborations. These market players are undertaking inorganic strategies such as acquisitions and collaborations and product improvisations to maintain the market competition.
Europe intensive Care Beds Market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million and volume in Units from 2015 to 2026, for the following segments:
Market Share, By Product, 2015-2026 (USD Million and Units)
- Electric Beds
- Manual Beds
Market Size, By Application, 2015-2026 (USD Million and Units)
- General ICU’s
- Specialized ICU’s
- Pediatric and Neonatal ICU’s
Market Value, By End-use, 2015-2026 (USD Million and Units)
- Ambulatory Surgical Centers
The above information is provided for the following region and countries: