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3. Major Players in the Medical Beds Market Considered New Product Launches as their Key Growth Strategy

Key players in the medical beds market include Hill-Rom Holdings, Inc. (U.S.), Stryker Corporation (U.S.), Getinge AB (Sweden), and Invacare Corporation (U.S.). The strong position of these companies in the market can primarily be attributed to their global presence and broad product portfolio. Other major players in the market include Linet Spol. s.r.o. (Czech Republic), Paramount Bed Holdings Co., Ltd. (Japan), Stiegelmeyer GmbH & Co. KG (Germany), and Midmark Corporation (U.S.). Key players are majorly focusing on organic growth strategies such as product launches and acquisitions to maintain their positions in the medical beds market.

Hill-Rom Holdings, Inc. (U.S.) is the largest player in the global medical beds market. The company focuses on organic and inorganic growth strategies such as product launches and acquisitions to sustain its foothold in the market. For instance, in May 2015, Hill-Rom Holdings, Inc. launched its Compella bariatric bed. With this launch, the company focused on providing safe patient care. The company focuses on expanding its product portfolio by acquisitions. For instance, in April 2014, the company acquired Virtus, Inc. (U.S.), a supplier of finished surfaces and components for bed and stretcher products. This acquisition enhanced the supply chain of Hill-Rom as well as strengthened its business in Batesville (U.S.).

Getinge AB (Sweden) is the second-largest player in the global medical beds market. The company focuses on both organic and inorganic growth strategies such as product launches and acquisitions to garner higher revenues in the market. For instance, in January 2017, Getinge AB launched its Total Lift bed for ICU patients. This specialized hospital bed can raise critically ill, immobile patients from lying down to a full standing position. With this launch, the company enhanced its patient support systems business segment. The company also focuses on acquisitions to strengthen its position in the market. For instance, in July 2016, the company acquired 1st Call Mobility, Ltd. (U.K.), a supplier of rental equipment for bariatric patients. This acquisition strengthened the company’s patient & post-acute care business segment.

Stryker Corporation (U.S.) is the third-largest player in the global medical beds market. To remain competitive, the company adopted inorganic growth strategies such as acquisitions for enhancing its presence in the market. For instance, in September 2015, the company acquired Muka Metal, A.S. (U.S.) a manufacturer of various types of hospital beds such as mechanical beds, pediatric beds, and armchair beds. This acquisition strengthened Stryker Corporation's patient handling equipment product portfolio. Similarly, in January 2015, Stryker acquired the assets of CHG Hospital Beds, Inc. (Canada), a leading provider of low height hospital beds. With this acquisition, Stryker Corporation enhanced its patient handling equipment product portfolio.

New product launches was the most preferred strategy adopted by key players in this market. Players adopted this strategy to enhance their product offerings, increase their market share, cater to customers’ demands, and consolidate their market presence.

The home care settings segment and electric beds are revenue-generating pockets for the medical beds market. Developing markets in Asia-Pacific such as Japan, China, India, South Korea, Taiwan, Australia, and Singapore are also revenue pockets for market players.

Related Reports:

Medical Bed Market by Usage (Acute Care, Long Term Care, Psychiatric Care, Maternity), Application (Intensive Care, Non Intensive), Type (Electric Beds, Semi Electric Bed, Manual Bed), End User (Hospital, Home Care, Elderly Care) - Global Forecast to 2022

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