Hospital Bed Market by Product Type, End-Users, and Geography (North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa): Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2024-2032

Description

The Hospital Bed Market report by Persistence Market Research provides an extensive analysis of market dynamics, growth factors, challenges, and emerging trends for the period from 2024 to 2032. This report offers detailed insights into the current state and future prospects of the Hospital Bed Market.

The global hospital bed market is expected to grow at a compound annual growth rate (CAGR) of 5.7% from USD 3398.21 million in 2024 to USD 5915.62 million by 2032.

Key Insights:

Estimated Market Size (2024): USD 3398.21 million
Projected Market Size (2032): USD 5915.62 million
Global Market Growth Rate (CAGR 2024 to 2032): 5.7%

Hospital Bed Market - Report Scope:

Hospital beds are specially designed for hospitalized patients or others in need of some form of health care. These beds have features such as adjustable height, head and feet elevations, and side rails, and they can be manually or electrically adjusted. The report covers key drivers behind the market demand, including the aging population, rising prevalence of chronic diseases, and advancements in healthcare infrastructure.

Market Growth Drivers:

The growth of the hospital bed market is primarily driven by the increasing global elderly population, which is more susceptible to chronic diseases and requires hospitalization. Additionally, the expansion of healthcare facilities worldwide and technological advancements in bed design and functionality, such as the integration of smart technologies for patient monitoring, contribute to the market growth.

Market Restraints:

Despite the positive growth outlook, the market faces challenges such as high costs of advanced hospital beds and limited hospital budgets, particularly in developing regions. Moreover, the maintenance and cleaning requirements of hospital beds can also pose operational challenges.

Market Opportunities:

The hospital bed market presents significant opportunities in the development of cost-effective models that maintain high-quality standards and durability. Innovations focusing on patient comfort, safety, and integration with mobile health applications and telemetry systems also offer considerable growth prospects. Additionally, emerging markets with expanding healthcare sectors provide new avenues for market expansion.

Key Questions Addressed in the Report:

What is the Expected CAGR of the Hospital Bed Market from 2024 to 2032?
What are the Key Factors Driving the Growth of the Hospital Bed Market?
Which Bed Type Holds the Largest Market Share in the Hospital Bed Market?
Who are the Key Players in the Global Hospital Bed Market?
What Strategies are Adopted by Leading Companies to Stay Competitive in the Hospital Bed Market?

Competitive Landscape and Business Strategies:

Key players in the Hospital Bed Market include Hill-Rom Holdings Inc., Stryker Corporation, Invacare Corporation, and Getinge AB. These companies focus on innovation, strategic acquisitions, and collaborations to expand their market share and enhance their product offerings. For instance, Hill-Rom Holdings Inc. offers a range of hospital beds that incorporate advanced features like fall prevention technologies and integrated bed exit alarms.

Key Segments Covered in the Hospital Bed Industry Report

Hospital Bed Market by Type

Semi-Electric Beds
Electric Beds
Manual Beds

Hospital Bed Market by Usage

Acute Care Beds
Long-Term Care Beds
Psychiatric Care Beds
Others

Hospital Bed by Application

Non-Intensive Care Beds
Intensive Care Beds

Hospital Bed Market by End User

Hospitals & Clinics
Elderly Care Facilities
Ambulatory Surgical Centers
Home Care Settings

Hospital Bed Market by Region

North America Hospital Bed Market
Europe Hospital Bed Market
Asia-Pacific Hospital Bed Market
Middle East & Africa Hospital Bed Market
South America Hospital Bed Market

Product Code: PMRREP2815

1. Executive Summary

1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations

3. Market Background

3.1. Market Dynamics
- 3.1.1. Drivers
- 3.1.2. Restraints
- 3.1.3. Opportunity
- 3.1.4. Trends
3.2. Scenario Forecast
- 3.2.1. Demand in Optimistic Scenario
- 3.2.2. Demand in Likely Scenario
- 3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter's Analysis
3.6. Regulatory Landscape
- 3.6.1. By Key Regions
- 3.6.2. By Key Countries
3.7. Regional Parent Market Outlook

4. Global Hospital Bed Market Analysis 2019-2023 and Forecast, 2024-2032

4.1. Historical Market Size Value (US$ Mn) Analysis, 2019-2023
4.2. Current and Future Market Size Value (US$ Mn) Projections, 2024-2032
- 4.2.1. Y-o-Y Growth Trend Analysis
- 4.2.2. Absolute $ Opportunity Analysis

5. Global Hospital Bed Market Analysis 2019-2023 and Forecast 2024-2032, By Product

5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Mn) Analysis By Product, 2019-2023
5.3. Current and Future Market Size Value (US$ Mn) Analysis and Forecast By Product, 2024-2032
- 5.3.1. Medical/Hospital Beds
- 5.3.2. Accessories
5.4. Y-o-Y Growth Trend Analysis By Product, 2019-2023
5.5. Absolute $ Opportunity Analysis By Product, 2024-2032

6. Global Hospital Bed Market Analysis 2019-2023 and Forecast 2024-2032, By Technology

6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Mn) Analysis By Technology, 2019-2023
6.3. Current and Future Market Size Value (US$ Mn) Analysis and Forecast By Technology, 2024-2032
- 6.3.1. Powered Beds
  - 6.3.1.1. Electric Beds
  - 6.3.1.2. Semi-electric Beds
- 6.3.2. Manual Beds
6.4. Y-o-Y Growth Trend Analysis By Technology, 2019-2023
6.5. Absolute $ Opportunity Analysis By Technology, 2024-2032

7. Global Hospital Bed Market Analysis 2019-2023 and Forecast 2024-2032, By Type of Care

7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Mn) Analysis By Type of Care , 2019-2023
7.3. Current and Future Market Size Value (US$ Mn) Analysis and Forecast By Type of Care , 2024-2032
- 7.3.1. Curative Care
- 7.3.2. Long-term Care
- 7.3.3. Rehabilitative Care
7.4. Y-o-Y Growth Trend Analysis By Type of Care , 2019-2023
7.5. Absolute $ Opportunity Analysis By Type of Care , 2024-2032

8. Global Hospital Bed Market Analysis 2019-2023 and Forecast 2024-2032, By Healthcare Facility

8.1. Introduction / Key Findings
8.2. Historical Market Size Value (US$ Mn) Analysis By Healthcare Facility, 2019-2023
8.3. Current and Future Market Size Value (US$ Mn) Analysis and Forecast By Healthcare Facility, 2024-2032
- 8.3.1. Critical Care Value (US$ Mn)
- 8.3.2. Long-term Care Value (US$ Mn)
- 8.3.3. Bariatric Care Value (US$ Mn)
- 8.3.4. Med-Surg Care Value (US$ Mn)
- 8.3.5. Pediatric Care Value (US$ Mn)
- 8.3.6. Maternal Care Value (US$ Mn)
- 8.3.7. Home Care Facility
8.4. Y-o-Y Growth Trend Analysis By Healthcare Facility, 2019-2023
8.5. Absolute $ Opportunity Analysis By Healthcare Facility, 2024-2032

9. Global Hospital Bed Market Analysis 2019-2023 and Forecast 2024-2032, By Region

9.1. Introduction
9.2. Historical Market Size Value (US$ Mn) Analysis By Region, 2019-2023
9.3. Current Market Size Value (US$ Mn) Analysis and Forecast By Region, 2024-2032
- 9.3.1. North America
- 9.3.2. Latin America
- 9.3.3. Europe
- 9.3.4. South Asia
- 9.3.5. East Asia
- 9.3.6. Oceania
- 9.3.7. MEA
9.4. Market Attractiveness Analysis By Region

10. North America Hospital Bed Market Analysis 2019-2023 and Forecast 2024-2032, By Country

10.1. Historical Market Size Value (US$ Mn) Trend Analysis By Market Taxonomy, 2019-2023
10.2. Market Size Value (US$ Mn) Forecast By Market Taxonomy, 2024-2032
- 10.2.1. By Country
  - 10.2.1.1. U.S.
  - 10.2.1.2. Canada
- 10.2.2. By Product
- 10.2.3. By Technology
- 10.2.4. By Type of Care
- 10.2.5. By Healthcare Facility
10.3. Market Attractiveness Analysis
- 10.3.1. By Country
- 10.3.2. By Product
- 10.3.3. By Technology
- 10.3.4. By Type of Care
- 10.3.5. By Healthcare Facility
10.4. Key Takeaways

11. Latin America Hospital Bed Market Analysis 2019-2023 and Forecast 2024-2032, By Country

11.1. Historical Market Size Value (US$ Mn) Trend Analysis By Market Taxonomy, 2019-2023
11.2. Market Size Value (US$ Mn) Forecast By Market Taxonomy, 2024-2032
- 11.2.1. By Country
  - 11.2.1.1. Brazil
  - 11.2.1.2. Mexico
  - 11.2.1.3. Rest of Latin America
- 11.2.2. By Product
- 11.2.3. By Technology
- 11.2.4. By Type of Care
- 11.2.5. By Healthcare Facility
11.3. Market Attractiveness Analysis
- 11.3.1. By Country
- 11.3.2. By Product
- 11.3.3. By Technology
- 11.3.4. By Type of Care
- 11.3.5. By Healthcare Facility
11.4. Key Takeaways

12. Europe Hospital Bed Market Analysis 2019-2023 and Forecast 2024-2032, By Country

12.1. Historical Market Size Value (US$ Mn) Trend Analysis By Market Taxonomy, 2019-2023
12.2. Market Size Value (US$ Mn) Forecast By Market Taxonomy, 2024-2032
- 12.2.1. By Country
  - 12.2.1.1. Germany
  - 12.2.1.2. U.K.
  - 12.2.1.3. France
  - 12.2.1.4. Spain
  - 12.2.1.5. Italy
  - 12.2.1.6. Rest of Europe
- 12.2.2. By Product
- 12.2.3. By Technology
- 12.2.4. By Type of Care
- 12.2.5. By Healthcare Facility
12.3. Market Attractiveness Analysis
- 12.3.1. By Country
- 12.3.2. By Product
- 12.3.3. By Technology
- 12.3.4. By Type of Care
- 12.3.5. By Healthcare Facility
12.4. Key Takeaways

13. South Asia Hospital Bed Market Analysis 2019-2023 and Forecast 2024-2032, By Country

13.1. Historical Market Size Value (US$ Mn) Trend Analysis By Market Taxonomy, 2019-2023
13.2. Market Size Value (US$ Mn) Forecast By Market Taxonomy, 2024-2032
- 13.2.1. By Country
  - 13.2.1.1. India
  - 13.2.1.2. Malaysia
  - 13.2.1.3. Singapore
  - 13.2.1.4. Thailand
  - 13.2.1.5. Rest of South Asia
- 13.2.2. By Product
- 13.2.3. By Technology
- 13.2.4. By Type of Care
- 13.2.5. By Healthcare Facility
13.3. Market Attractiveness Analysis
- 13.3.1. By Country
- 13.3.2. By Product
- 13.3.3. By Technology
- 13.3.4. By Type of Care
- 13.3.5. By Healthcare Facility
13.4. Key Takeaways

14. East Asia Hospital Bed Market Analysis 2019-2023 and Forecast 2024-2032, By Country

14.1. Historical Market Size Value (US$ Mn) Trend Analysis By Market Taxonomy, 2019-2023
14.2. Market Size Value (US$ Mn) Forecast By Market Taxonomy, 2024-2032
- 14.2.1. By Country
  - 14.2.1.1. China
  - 14.2.1.2. Japan
  - 14.2.1.3. South Korea
- 14.2.2. By Product
- 14.2.3. By Technology
- 14.2.4. By Type of Care
- 14.2.5. By Healthcare Facility
14.3. Market Attractiveness Analysis
- 14.3.1. By Country
- 14.3.2. By Product
- 14.3.3. By Technology
- 14.3.4. By Type of Care
- 14.3.5. By Healthcare Facility
14.4. Key Takeaways

15. Oceania Hospital Bed Market Analysis 2019-2023 and Forecast 2024-2032, By Country

15.1. Historical Market Size Value (US$ Mn) Trend Analysis By Market Taxonomy, 2019-2023
15.2. Market Size Value (US$ Mn) Forecast By Market Taxonomy, 2024-2032
- 15.2.1. By Country
  - 15.2.1.1. Australia
  - 15.2.1.2. New Zealand
- 15.2.2. By Product
- 15.2.3. By Technology
- 15.2.4. By Type of Care
- 15.2.5. By Healthcare Facility
15.3. Market Attractiveness Analysis
- 15.3.1. By Country
- 15.3.2. By Product
- 15.3.3. By Technology
- 15.3.4. By Type of Care
- 15.3.5. By Healthcare Facility
15.4. Key Takeaways

16. MEA Hospital Bed Market Analysis 2019-2023 and Forecast 2024-2032, By Country

16.1. Historical Market Size Value (US$ Mn) Trend Analysis By Market Taxonomy, 2019-2023
16.2. Market Size Value (US$ Mn) Forecast By Market Taxonomy, 2024-2032
- 16.2.1. By Country
  - 16.2.1.1. GCC Countries
  - 16.2.1.2. South Africa
  - 16.2.1.3. Israel
  - 16.2.1.4. Rest of MEA
- 16.2.2. By Product
- 16.2.3. By Technology
- 16.2.4. By Type of Care
- 16.2.5. By Healthcare Facility
16.3. Market Attractiveness Analysis
- 16.3.1. By Country
- 16.3.2. By Product
- 16.3.3. By Technology
- 16.3.4. By Type of Care
- 16.3.5. By Healthcare Facility
16.4. Key Takeaways

17. Key Countries Hospital Bed Market Analysis

17.1. U.S.
- 17.1.1. Pricing Analysis
- 17.1.2. Market Share Analysis, 2024
  - 17.1.2.1. By Product
  - 17.1.2.2. By Technology
  - 17.1.2.3. By Type of Care
  - 17.1.2.4. By Healthcare Facility
17.2. Canada
- 17.2.1. Pricing Analysis
- 17.2.2. Market Share Analysis, 2024
  - 17.2.2.1. By Product
  - 17.2.2.2. By Technology
  - 17.2.2.3. By Type of Care
  - 17.2.2.4. By Healthcare Facility
17.3. Brazil
- 17.3.1. Pricing Analysis
- 17.3.2. Market Share Analysis, 2024
  - 17.3.2.1. By Product
  - 17.3.2.2. By Technology
  - 17.3.2.3. By Type of Care
  - 17.3.2.4. By Healthcare Facility
17.4. Mexico
- 17.4.1. Pricing Analysis
- 17.4.2. Market Share Analysis, 2024
  - 17.4.2.1. By Product
  - 17.4.2.2. By Technology
  - 17.4.2.3. By Type of Care
  - 17.4.2.4. By Healthcare Facility
17.5. Germany
- 17.5.1. Pricing Analysis
- 17.5.2. Market Share Analysis, 2024
  - 17.5.2.1. By Product
  - 17.5.2.2. By Technology
  - 17.5.2.3. By Type of Care
  - 17.5.2.4. By Healthcare Facility
17.6. U.K.
- 17.6.1. Pricing Analysis
- 17.6.2. Market Share Analysis, 2024
  - 17.6.2.1. By Product
  - 17.6.2.2. By Technology
  - 17.6.2.3. By Type of Care
  - 17.6.2.4. By Healthcare Facility
17.7. France
- 17.7.1. Pricing Analysis
- 17.7.2. Market Share Analysis, 2024
  - 17.7.2.1. By Product
  - 17.7.2.2. By Technology
  - 17.7.2.3. By Type of Care
  - 17.7.2.4. By Healthcare Facility
17.8. Spain
- 17.8.1. Pricing Analysis
- 17.8.2. Market Share Analysis, 2024
  - 17.8.2.1. By Product
  - 17.8.2.2. By Technology
  - 17.8.2.3. By Type of Care
  - 17.8.2.4. By Healthcare Facility
17.9. Italy
- 17.9.1. Pricing Analysis
- 17.9.2. Market Share Analysis, 2024
  - 17.9.2.1. By Product
  - 17.9.2.2. By Technology
  - 17.9.2.3. By Type of Care
  - 17.9.2.4. By Healthcare Facility
17.10. India
- 17.10.1. Pricing Analysis
- 17.10.2. Market Share Analysis, 2024
  - 17.10.2.1. By Product
  - 17.10.2.2. By Technology
  - 17.10.2.3. By Type of Care
  - 17.10.2.4. By Healthcare Facility
17.11. Malaysia
- 17.11.1. Pricing Analysis
- 17.11.2. Market Share Analysis, 2024
  - 17.11.2.1. By Product
  - 17.11.2.2. By Technology
  - 17.11.2.3. By Type of Care
  - 17.11.2.4. By Healthcare Facility
17.12. Singapore
- 17.12.1. Pricing Analysis
- 17.12.2. Market Share Analysis, 2024
  - 17.12.2.1. By Product
  - 17.12.2.2. By Technology
  - 17.12.2.3. By Type of Care
  - 17.12.2.4. By Healthcare Facility
17.13. Thailand
- 17.13.1. Pricing Analysis
- 17.13.2. Market Share Analysis, 2024
  - 17.13.2.1. By Product
  - 17.13.2.2. By Technology
  - 17.13.2.3. By Type of Care
  - 17.13.2.4. By Healthcare Facility
17.14. China
- 17.14.1. Pricing Analysis
- 17.14.2. Market Share Analysis, 2024
  - 17.14.2.1. By Product
  - 17.14.2.2. By Technology
  - 17.14.2.3. By Type of Care
  - 17.14.2.4. By Healthcare Facility
17.15. Japan
- 17.15.1. Pricing Analysis
- 17.15.2. Market Share Analysis, 2024
  - 17.15.2.1. By Product
  - 17.15.2.2. By Technology
  - 17.15.2.3. By Type of Care
  - 17.15.2.4. By Healthcare Facility
17.16. South Korea
- 17.16.1. Pricing Analysis
- 17.16.2. Market Share Analysis, 2024
  - 17.16.2.1. By Product
  - 17.16.2.2. By Technology
  - 17.16.2.3. By Type of Care
  - 17.16.2.4. By Healthcare Facility
17.17. Australia
- 17.17.1. Pricing Analysis
- 17.17.2. Market Share Analysis, 2024
  - 17.17.2.1. By Product
  - 17.17.2.2. By Technology
  - 17.17.2.3. By Type of Care
  - 17.17.2.4. By Healthcare Facility
17.18. New Zealand
- 17.18.1. Pricing Analysis
- 17.18.2. Market Share Analysis, 2024
  - 17.18.2.1. By Product
  - 17.18.2.2. By Technology
  - 17.18.2.3. By Type of Care
  - 17.18.2.4. By Healthcare Facility
17.19. GCC Countries
- 17.19.1. Pricing Analysis
- 17.19.2. Market Share Analysis, 2024
  - 17.19.2.1. By Product
  - 17.19.2.2. By Technology
  - 17.19.2.3. By Type of Care
  - 17.19.2.4. By Healthcare Facility
17.20. South Africa
- 17.20.1. Pricing Analysis
- 17.20.2. Market Share Analysis, 2024
  - 17.20.2.1. By Product
  - 17.20.2.2. By Technology
  - 17.20.2.3. By Type of Care
  - 17.20.2.4. By Healthcare Facility
17.21. Israel
- 17.21.1. Pricing Analysis
- 17.21.2. Market Share Analysis, 2024
  - 17.21.2.1. By Product
  - 17.21.2.2. By Technology
  - 17.21.2.3. By Type of Care
  - 17.21.2.4. By Healthcare Facility

18. Market Structure Analysis

18.1. Competition Dashboard
18.2. Competition Benchmarking
18.3. Market Share Analysis of Top Players
- 18.3.1. By Regional
- 18.3.2. By Product
- 18.3.3. By Technology
- 18.3.4. By Type of Care
- 18.3.5. By Healthcare Facility

19. Competition Analysis

19.1. Competition Deep Dive
- 19.1.1. Stryker Corporation
  - 19.1.1.1. Overview
  - 19.1.1.2. Product Portfolio
  - 19.1.1.3. Profitability by Market Segments
  - 19.1.1.4. Sales Footprint
  - 19.1.1.5. Strategy Overview
    - 19.1.1.5.1. Marketing Strategy
- 19.1.2. Hill-Rom Holdings, Inc.
  - 19.1.2.1. Overview
  - 19.1.2.2. Product Portfolio
  - 19.1.2.3. Profitability by Market Segments
  - 19.1.2.4. Sales Footprint
  - 19.1.2.5. Strategy Overview
    - 19.1.2.5.1. Marketing Strategy
- 19.1.3. Getinge AB
  - 19.1.3.1. Overview
  - 19.1.3.2. Product Portfolio
  - 19.1.3.3. Profitability by Market Segments
  - 19.1.3.4. Sales Footprint
  - 19.1.3.5. Strategy Overview
    - 19.1.3.5.1. Marketing Strategy
- 19.1.4. Invacare Corporation
  - 19.1.4.1. Overview
  - 19.1.4.2. Product Portfolio
  - 19.1.4.3. Profitability by Market Segments
  - 19.1.4.4. Sales Footprint
  - 19.1.4.5. Strategy Overview
    - 19.1.4.5.1. Marketing Strategy
- 19.1.5. Joh. StiegelmeyerGmBH& Co. KG
  - 19.1.5.1. Overview
  - 19.1.5.2. Product Portfolio
  - 19.1.5.3. Profitability by Market Segments
  - 19.1.5.4. Sales Footprint
  - 19.1.5.5. Strategy Overview
    - 19.1.5.5.1. Marketing Strategy
- 19.1.6. Paramount Bed Holdings Co., Ltd.
  - 19.1.6.1. Overview
  - 19.1.6.2. Product Portfolio
  - 19.1.6.3. Profitability by Market Segments
  - 19.1.6.4. Sales Footprint
  - 19.1.6.5. Strategy Overview
    - 19.1.6.5.1. Marketing Strategy
- 19.1.7. LINET Group SE
  - 19.1.7.1. Overview
  - 19.1.7.2. Product Portfolio
  - 19.1.7.3. Profitability by Market Segments
  - 19.1.7.4. Sales Footprint
  - 19.1.7.5. Strategy Overview
    - 19.1.7.5.1. Marketing Strategy
- 19.1.8. Medline Industries, Inc.
  - 19.1.8.1. Overview
  - 19.1.8.2. Product Portfolio
  - 19.1.8.3. Profitability by Market Segments
  - 19.1.8.4. Sales Footprint
  - 19.1.8.5. Strategy Overview
    - 19.1.8.5.1. Marketing Strategy
- 19.1.9. Joerns Healthcare LLC.
  - 19.1.9.1. Overview
  - 19.1.9.2. Product Portfolio
  - 19.1.9.3. Profitability by Market Segments
  - 19.1.9.4. Sales Footprint
  - 19.1.9.5. Strategy Overview
    - 19.1.9.5.1. Marketing Strategy
- 19.1.10. Gendron, Inc.
  - 19.1.10.1. Overview
  - 19.1.10.2. Product Portfolio
  - 19.1.10.3. Profitability by Market Segments
  - 19.1.10.4. Sales Footprint
  - 19.1.10.5. Strategy Overview
    - 19.1.10.5.1. Marketing Strategy
- 19.1.11. Span-America Medical Systems, Inc.
  - 19.1.11.1. Overview
  - 19.1.11.2. Product Portfolio
  - 19.1.11.3. Profitability by Market Segments
  - 19.1.11.4. Sales Footprint
  - 19.1.11.5. Strategy Overview
    - 19.1.11.5.1. Marketing Strategy
- 19.1.12. Savion Industries
  - 19.1.12.1. Overview
  - 19.1.12.2. Product Portfolio
  - 19.1.12.3. Profitability by Market Segments
  - 19.1.12.4. Sales Footprint
  - 19.1.12.5. Strategy Overview
    - 19.1.12.5.1. Marketing Strategy
- 19.1.13. Malvestio Spa
  - 19.1.13.1. Overview
  - 19.1.13.2. Product Portfolio
  - 19.1.13.3. Profitability by Market Segments
  - 19.1.13.4. Sales Footprint
  - 19.1.13.5. Strategy Overview
    - 19.1.13.5.1. Marketing Strategy