PUBLISHER: Allied Market Research | PRODUCT CODE: 1140025
PUBLISHER: Allied Market Research | PRODUCT CODE: 1140025
The global hospital beds market was valued at $3,390.2 million in 2021, and is projected to reach $7,149.26 million by 2031, registering a CAGR of 7.4% from 2022 to 2031.
Hospital beds are created specifically for individuals requiring medical attention or hospitalized patients. These beds possess unique features for the patient's comfort & wellbeing as well as the convenience of healthcare professionals. The entire bed, the head, and the feet can be adjusted in height. Side rails can also be adjusted, and electronic buttons can be used to control the bed and other surrounding electrical equipment.
The increase in prevalence of chronic diseases such as diabetes, asthma, and blood pressure drive the growth of market. For instance, according to International Diabetes Federation (IDF) Diabetes Atlas Tenth edition 2021, approximately 537 million adults (20-79 years) are living with diabetes and the total number of people living with diabetes is projected to rise to 643 million by 2030. The chronic diseases such as diabetes and hypertension may require short term or chronic hospitalization and bed rest. Thus, growth in prevalence of chronic diseases drives the growth of market.
The increase in number of incidences of road accidents and rise in number of surgeries boost the growth of market. For instance, according to U.S. Department of Transportation's National Highway Traffic Safety Administration (NHTSA), in 2020, estimated 38,680 people died in motor vehicle traffic crashes. The road accidents are responsible for severe injuries and may require hospitalization. Thus, increase in number of road accidents, rise in number of surgeries, and surge in prevalence of bone diseases drives the growth of market.
Furthermore, the increase in prevalence of orthopedic diseases and other chronic conditions where the surgery is suggested contributes in the growth of market. For instance, in February 2021, according to world health organization (WHO), approximately 1.71 billion people have musculoskeletal conditions worldwide. Musculoskeletal disorders (MSD) are injuries or disorders of the muscles, nerves, tendons, joints, cartilage, and spinal discs. These musculoskeletal disorders (MSD) require surgical procedures, bed rest, and hospitalization.
The factors such as increase in old age population, growth in healthcare infrastructure, and huge gap in the supply & demand for the hospital beds drive the growth of market. In addition, COVID-19 pandemic has boosted the demand for hospital beds. For instance, according to world health organization (WHO) report, as of 8 July 2022, there have been 551,226,298 confirmed cases of COVID-19, including 6,345,595 deaths, reported to WHO. The COVID-19 patients need isolation and hospitalization, which further drives the hospital bed market.
Moreover, the increase in R&D activities for development of advanced hospital beds and novel product launch in market by key players boost the market growth. For instance, in February 2021, Stryker, one of the world's leading medical technology companies, announced its EMEA launch of a completely wireless hospital bed, ProCuity. The ProCuity bed series was designed to help reduce in-hospital patient falls at all acuity levels, improve nurse workflow efficiencies, and it can connect seamlessly to nurse call systems without the use of cables or wires. However, the high cost of advanced hospital beds and underdeveloped health care infrastructure in developing countries may hinder the growth of market.
The hospital beds market is segmented on the basis of technology, application, end user and region. By technology, the market is divided into powered beds and manual beds. The powered beds are further divided into electric beds and semi electric beds. Depending on application segment market is classified into acute care, long-term care and others. By end user, the market is categorized into hospitals, ambulatory surgical centers, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major companies profiled in the report include: Amico Corporation, Antano Group S.R.L., Baxter Corporation, Burke Bariatric Inc, Drive Medical, Graham Field, Getinge AB, Invacare Corporation, Linet SPOL S.R.O., Medline Industries Inc, Med-Mizer Inc, Midmark Corporation, Novum Medical Technology, Paramount Bed Holdings, Savaria Corporation, Stiegelmeyer GMBH & Co and Stryker Corporation.
Key Benefits For Stakeholders
Key Market Segments
By End User
By Technology
By Application
By Region