At 14.3% CAGR, the South & Central America Smart Hospital Beds Market is projected to be worth US$ 44.91 million by 2030, says Business Market Insights

According to Business Market Insights’ research, the South & Central America smart hospital beds market was valued at US$ 15.37 million in 2022 and is expected to reach US$ 44.91 million by 2030, registering a CAGR of 14.3% from 2022 to 2030. The upsurge in geriatric population and digitalization in healthcare systems are among the critical factors attributed to the South & Central America smart hospital beds market expansion.    

Healthcare systems in developed countries have begun transforming their hospitals into smart hospitals. Adopting digitalization in healthcare systems enhances the care and services provided by hospitals. The adoption of smart beds in hospital settings allows hospital administrations to offer better experiences for patients during their stay in hospitals. The introduction of remote patient monitoring, virtual communication, and other digital technologies has simplified the jobs of healthcare service providers and caregivers. Adopting these technologies has helped them overcome challenges associated with a high cost of care, staff shortages, rising patient expectations, and persistent discrimination regarding access to quality care. Newer technologies have enabled cost-effective maintenance of hospital assets in healthcare settings. Also, newer technologies allow easy access and convenience for care providers in ambulatory centers, retail clinics, and home care settings, among others.

Digital technologies such as telemedicine are likely to trigger the incorporation of smart hospital beds in the healthcare sector. Smart hospital beds with telemedicine features would allow patients to seek remote consultations in different countries, thereby facilitating a smooth shift of healthcare from a centralized system to a distributed network. Integrating smart hospital beds with telemedicine would enhance home care settings and ease caregiving to senior, disabled, and fully dependent patients. Telemedicine would also enable new healthcare models such as mobile and virtual care to patients in homecare settings while allowing them to connect with most healthcare centers. Thus, digitalization in healthcare systems is expected to bring new trends into the South & Central America smart hospital beds market in the coming years.

On the contrary, cybersecurity risks and recalls associated with smart hospital beds hamper the South & Central America smart hospital beds market.

Based on patient weight, the South & Central America smart hospital beds market is segmented into less than 70 lb, 70 to 150 lb, 150 to 400 lb, 400 to 500 lb, and greater than 500 lb. The 400 to 500 lb segment held 44.4% share of South & Central America smart hospital beds market in 2022, amassing US$ 6.82 million. It is projected to garner US$ 20.44 million by 2030 to expand at 14.7% CAGR during 2022–2030.

Based on offering, the South & Central America smart hospital beds market is segmented into products & accessories, software & solutions, and services. The products & accessories segment held 45.6% share of South & Central America smart hospital beds market in 2022, amassing US$ 7.01 million. It is projected to garner US$ 20.05 million by 2030 to expand at 14.0% CAGR during 2022–2030.

Based on application, the South & Central America smart hospital beds market is segmented into fall prevention, pressure injury prevention, patient deterioration & monitoring, and others. The fall prevention segment held 82.1% share of South & Central America smart hospital beds market in 2022, amassing US$ 12.61 million. It is projected to garner US$ 37.15 million by 2030 to expand at 14.5% CAGR during 2022–2030.

Based on end user, the South & Central America smart hospital beds market is segmented into hospitals, clinics & nursing homes, ambulatory surgical centers, medical laboratories, long term care centers, and others. The hospitals segment held 71.4% share of South & Central America smart hospital beds market in 2022, amassing US$ 10.97 million. It is projected to garner US$ 31.84 million by 2030 to expand at 14.3% CAGR during 2022–2030.

Based on country, the South & Central America smart hospital beds market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that the Rest of South & Central America captured 37.9% share of South & Central America smart hospital beds market in 2022. It was assessed at US$ 5.83 million in 2022 and is likely to hit US$ 16.60 million by 2030, exhibiting a CAGR of 14.0% during 2022–2030.

Key players operating in the South & Central America smart hospital beds market are Arjo AB, Hill-Rom Holdings Inc, LINET spol SRO, Malvestio SpA, Paramount Bed Co Ltd, and Stryker Corp, among others.

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