Electric Bed Market Size Worth $3.80 Billion By 2027 | CAGR: 6.8%: Grand View Research, Inc.

Electric Bed Market Size Worth $3.80 Billion By 2027 | CAGR: 6.8%: Grand View Research, Inc.

PR Newswire

SAN FRANCISCO, Dec. 14, 2020

SAN FRANCISCO, Dec. 14, 2020 /PRNewswire/ -- The global electric bed market size is expected to reach USD 3.80 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.8% from 2021 to 2027. The increasing number of accident cases across the globe, the growing geriatric population, the rising number of surgical procedures globally, and the recent outbreak of COVID-19 are the key factors driving the market.

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Key suggestions from the report:

Read 90 page research report with ToC on "Electric Bed Market Size, Share & Trends Analysis Report By Product (Semi-automatic, Fully Automatic), By Application (General, Intensive Care), By End Use, By Region, And Segment Forecasts, 2021 - 2027'' at: https://www.grandviewresearch.com/industry-analysis/electric-bed-market

The number of road accidents is rapidly increasing, leading to a rise in the need for electric beds in hospitals and clinics. For instance, according to the Association for Safe International Road Travel (ASIRT), around 20.00 to 50.00 million people are injured or disabled every year. Road traffic accidents are the 9th leading cause of death worldwide. ASIRT also reported that in the U.S., more than 37,000 people die in road accidents per year and around 2.35 million are injured or disabled. In some cases, road accidents require immediate surgery and care, and thus in such cases, an electric bed is one of the essential requirements.

As per the Ministry of Road Transport and Highways, Government of India, in 2016, around 494,624 people were injured in road accidents. This number has increased by 25.6% from 2007 to 2017. In 2016, the states that recorded the highest number of road accidents were Uttar Pradesh (25,096), Tamil Nadu (82,163), Maharashtra (35,884), and Karnataka (54,556). Therefore, such instances indicate considerable growth of the market over the forecast period. In addition, the growing geriatric population, which is more susceptible to various diseases, and increasing hospital admissions are anticipated to propel the market growth. For instance, as per the U.S. Census Bureau, the number of people aged 65 or older increased by 1.6 million from 2015 to 2016. Hence, the increasing geriatric population is also expected to propel the market growth over the forecast period.

Grand View Research has segmented the global electric bed market on the basis of product, application, end use, and region:

List of Key Players of Electric Bed Market

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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