Bed Head Panel Industry Overview
The global bed head panel market size was valued at USD 2.7 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 3.1% from 2022 to 2030. Increasing government initiatives, a rising geriatric population, and a high prevalence of chronic diseases are anticipated to drive the growth of the market during the forecast period. Furthermore, growing research and development activities to develop advanced bed head panel has been the area focus of manufacturers across the globe. This is further expected to lead the market during the forecast period. An increase in hospitalization rates as a result of the COVID -19 pandemic is an additional major factor driving the market.
Due to the significant outbreak of this infectious disease, there has been a global demand for modern healthcare services and infrastructure to treat infected patients that have never been seen before. Therefore, bed head panels, which are an important aspect of healthcare services, are in high demand around the world as a result of an increase in COVID-19 patients. The ongoing pandemic has also resulted in a rise in the number of patients with severe respiratory illnesses. Since then, oxygen levels in people with the COVID-19 have dropped, causing breathing difficulties. As a result, bed head panels with several medical gas plug aid in the delivery of oxygen to persons with respiratory problems. Therefore, the number of patients requiring critical care and advanced healthcare services during pandemics has skyrocketed. This in turn is expected to boost the growth of the market for bed head panels.
Gather more insights about the market drivers, restrains and growth of the Global Bed Head Panel market
Furthermore, major companies are working on providing innovative products and comprehensive services to increase/maintain end-user confidence. For example, Hill-Rom quadrupled its manufacture of critical care products, such as ventilators, hospital beds, and vitals monitoring systems in March 2021 to help fight the COVID-19 pandemic. Such initiatives are anticipated to spur market growth. The prevalence of chronic diseases, such as urological disorders, cancer, cardiovascular disorders, neurovascular diseases, and other chronic problems, is increasing, resulting in a considerable increase in hospital admission rates. Additionally, as a result of high blood pressure, obesity, and smoking, a large percentage of the population is currently in danger of developing chronic diseases. Chronic diseases are responsible for 60% of all fatalities worldwide, according to the World Health Organization (WHO).
Furthermore, every year, 17.9 million people die as a result of cardiovascular disorders worldwide. According to the same source, cancer is the leading cause of death worldwide, accounting for nearly 1 in every 6 deaths. Therefore, increasing hospitalization, coupled with an increase in chronic illnesses, is likely to boost bead head panel installations, resulting in market growth. The need for bed head panels in various healthcare settings is likely to increase with its rising aging population, a demographic that is more susceptible to chronic illnesses such as diabetes and other lifestyle-related disorders. In addition, adults aged 65 and up are more prone to develop diabetes, heart disease, neurological disorders, cancer, and other chronic illnesses, according to the CDC. Patients with such conditions require hospital treatment, both emergency, and non-emergency.
Moreover, according to the World Health Organization, the global population of adults aged 60 and more is expected to exceed 2 billion by 2050. In addition, by 2050, 80% of the world's elderly would live in low- and middle -income countries. As a result, one of the significant impact-rendering factors for bed head panel market expansion is expected to be growing elderly population. To achieve a competitive advantage, manufacturers are creating innovative products. For instance, INMED-Karczewscy, a firm located in Poland, released the latest model of the medical gas alarm panel, during the MEDICA International Trade Fair 2019 in November. It detects irregularities in gas supply and provides an audiovisual warning. It can be hung on the wall or attached to the front of other devices. Over the forecast period, such advancements are expected to promote market growth.
Browse through Grand View Research's Medical Devices Industry Research Reports.
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Bed Head Panel Market Segmentation
Grand View Research has segmented the global bed head panel market based on specialty, end-use, and region:
Bed Head Panel Specialty Outlook (Revenue, USD Million, 2017 - 2030)
- ICU
- Surgical
- Others
Bed Head Panel End-use Outlook (Revenue, USD Million, 2017 - 2030)
- Hospitals
- Clinics
- Others
Bed Head Panel Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa (MEA)
Market Share Insights
- December 2021: Hill-Rom was acquired by Baxter International, Inc., a global leader in medical technology. The merger brings together two leading medical technology firms with the similar goal of improving patient care and transforming healthcare globally.
Key Companies profiled:
Some of the prominent players in the bed head panel market include:
- Precision UK Ltd.
- Baxter
- Novair Medical
- Amcaremed Medical
- Amico Group of Companies
- Drägerwerk AG Co. KGaA
- BIOLUME
- BeaconMedaes
- Silbermann
- INMED
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