Smart Beds: Setting New Trends of Healthy Sleep
According to Goldstein Research, “Rising demand for comfort from hospitals, growing expenditures over healthcare sector and on-going technological advancements in the healthcare sector are the major factors for the growth of smart bed market.” The market for smart bed in the healthcare sector is in merging stage and is likely to impact the medical device industry with the rise of its commercialization.
Browse Full Report: Smart Bed Market
The global smart bed market is segmented based on product and by end users. Product segment is further bifurcated into manual, semi-automatic and fully-automatic. Manual smart bed accounted for the largest revenue share in global smart bed market in 2016, owing to rising adoption these beds in the healthcare sector as these beds provide remote monitoring of patients with enhanced convenience and comfort.
Global smart bed market accounted for more than USD 2.6 Billion in 2016 and the market is expected to reach USD 4.8 Billion by the end of 2024. Further, the market is anticipated to expand at a compound annual growth rate of 7.9% over the forecast period i.e. 2016-2024. The forecast is entirely based on the rising adoption of smart beds in the healthcare sector and the factors that are impelling the growth of smart bed markets such as enhanced and intensive care of patients in hospitals and health benefits for residential consumers.
North America is the largest region for Smart Bed market in 2016 and is expected to dominate the market during the forecast period of 2016-2024. North America Smart Bed market valued USD 0.8 billion in 2016 and is estimated to reach USD 1.3 billion by 2024. The United States is expected to dominate the Smart Bed market followed by Canada due to high expenditure over healthcare sector and readiness of the consumers to spend on new technologies.
Technological Advancement of Smart Beds Providing Strong Growth in Healthcare Sector
Smart bed market has gained significant traction in healthcare sector owing to continuous advancement in smart bed technologies which enabled the hospitals to deliver enhanced healthcare service to the patients. For instance, BAM Labs, the global provider of smart bed technology recently announced its strong growth and expansion in its core consumer and medical business, which is further likely to benefit from its partnership with SLEEP NUMBER. BAM Labs in recent years has expanded its total medical business to include access to over 4,500 hospitals and 12,000 long-term health organizations.
Global Smart Bed Market Outlook
This report contains a detailed overview of the global smart bed market in terms of market segmentation by product type and by end users.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global Smart Bed Market Report also provides a competitive outlook of some of the major players which includes profiling of companies such as Paramount Bed Co., Stryker Corporation, BodiTrak, ArjoHuntleigh AB, Hill Rom Holdings Inc., Sleepnumber, Invacare Corporation, Responsive Surface Technology, Hi-Interiors SRL, Balluga Limited etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global smart bed market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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