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The global hospital beds market is witnessing significant growth due to rising prevalence of chronic diseases such as cardiovascular disorders, cancer, diabetes, neurological disorders and injuries. Hospital beds come equipped with various features like adjustable height, side rails, bed exits alarms and others which helps patients during recovery and treatment process. Different types of hospital beds available are general beds, pediatric beds, pressure relief beds, birthing beds and bariatric beds. General beds are most commonly used in wards, private rooms and clinics.
The global hospital beds market is estimated to be valued at US$ 4,151.9 Mn in 2023 and is expected to exhibit a CAGR of 6.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The hospital beds market is expected to be flourished by increasing prevalence of chronic diseases. As per WHO, chronic diseases accounted for approximately 60% of the 57 million global deaths in 2008 and these diseases are projected to account for almost three quarters of all deaths worldwide by 2020. Chronic diseases require long term treatment and recovery period which contributes to increasing demand for hospital beds. Another key driver is growing focus on improve quality of medical care. Hospitals are increasingly adopting technologically advanced beds with features such as adjustable positions, monitoring systems, pressure relief function and others in order to improve patient comfort, reduce complications and enhance recovery. This is also contributing to growth of hospital beds market.
Segment Analysis
The global hospital beds market is dominated by specialty beds which accounts for over 30% of the market share. Speciality beds include birthing beds, bariatric beds, paediatric beds etc. This segment is dominating as these beds come equipped with special features to cater specific patient needs. For example, birthing beds help in labour, delivery and postpartum care of mothers, bariatric beds can support extra weight while paediatric beds are sized specifically for kids.
PEST Analysis
Political: The market is influenced by regulations related to hospital infrastructure, quality standards and funding for healthcare institutions. Favourable regulatory reforms would boost investments.
Economic: As global economy grows and income levels rise, more people gain access to healthcare facilities driving demand. Aging population requiring long-term care also stimulates market growth.
Social: Changing lifestyles and increased incidence of lifestyle diseases has elevated healthcare needs. Demand for advanced beds from hospitals and nursing homes is increasing.
Technological: Integration of beds with technologies like sensors, app-based controls and ability to connect to hospital network aids patient monitoring and care. This drives preference for specialized smart hospital beds.
Key Takeaways
The global hospital beds market is expected to witness high growth supported by aging population, rising lifestyle diseases, growing medical infrastructure and technological advancements.
Regionally, North America dominates the market currently holding over 40% share due to well-developed healthcare systems and availability of advanced products. Asia Pacific is projected to experience fastest growth owing to increasing healthcare expenditure, expanding medical tourism and rising standards of care in developing countries.
Key players operating in the hospital beds market are Stryker, Hill-Rom Holdings, Inc., Getinge AB, Invacare Corporation, Medline Industries, Inc., LINET., EarlySense, Max Healthcare, Eqova Healthcare, Compass Health Brands, Stiegelmeyer GmbH & Co. Kg, Antano Group S.R.L, Amico Corporation, and Midmark Corporation. These companies are focusing on new product launches, partnerships and mergers to strengthen their market presence. For instance, Stryker recently acquired cardiac monitoring company EarlySense to integrate its technologies in hospital beds.
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- Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
