Hospital Beds Market Analysis By Type (Acute Care, Long-Term Care, Psychiatric & Bariatric Care, Others), Power (Electric, Semi-Electric, Manual), End Users (Hospital, Clinics, Ambulatory) – Forecast till 2027
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Hospital Bed Market Overview
The global hospital bed market is projected to acquire USD 4,824.2 Million over the forecast period. The hospital bed market to flourish at a healthy CAGR of over 5.5% during the review timeframe, predicted by Market Research Future (MRFR).
Hospital beds enable body positioning that is not viable in a regular home bed. Hospital beds are an important inventory in a hospitals’ capacity to take in patients and treat them in the best possible way. The global hospital beds market has witnessed a rapid surge in the growth rate in the last few years. The market’s growth is mainly credited to the rise in acute diseases across the globe. Furthermore, factors such as surge in chronic diseases, enhancement in ambulatory systems and hospitals, rise in hospitalization of the elderly, and surge in emergency hospital visits are also projected to influence the market’s growth over the assessment era positively. On the other hand, the high procurement costs are likely to restrict the market’s growth.
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Hospital Bed Market Segmentation
The global market for hospital beds has been fragmented into several segments based on type, end-user, power, and region.
Based on type, the global market for hospital beds is divided into psychiatric & bariatric care, long-term care, and acute care.
The hospital beds market is split into manual beds, semi-electric beds, and electric beds based on power.
The hospital beds market is split into ambulatory clinics, clinics, and hospitals based on end-user.
Hospital Bed Market Regional Analysis
The global market for hospital beds is studied across five major regions such as Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa.
The MRFR report suggests that the European region is likely to account for the largest global hospital beds market share over the forecasted era. The regional market is anticipated to thrive at a healthy CAGR of over 5.5% throughout the assessment period. The growth of the market is mainly credited to the elevated healthcare expenditure. Furthermore, factors such as the presence of key market players, intensifying government backing, a sophisticated healthcare sector, and promising reimbursement strategies are also likely to boost the regional market’s growth.
The North American regional hospital beds market is anticipated to grow substantially over the projection timeframe. The regional market’s growth is mainly credited to the factors such as growing to finance in research & development in healthcare, enormous geriatric inhabitants, and a sophisticated healthcare structure.
The hospital bed market for the Asia-Pacific region is anticipated to register the highest CAGR of over 5.9% during the assessment era. The regional market’s growth is mainly attributed to the augmenting government backing for research & development across the region. Furthermore, the incidence of an enormous population base with the collective geriatric population is also projected to positively impact the regional market’s growth over the coming years. Moreover, the factors such as constantly improving hospitals’ setup and speedily intensifying the number of hospitals are anticipated to boost the demand for hospital beds across the region.
Hospital Bed Market Competitive Analysis
The global hospital beds market is well-known to have a strong and competitive landscape. The players worldwide are investing heavily in research & development activities to launch innovative products. The global hospital beds market has prominent players such as Getinge AB, Paramount Bed Holdings Co., Ltd., Linet spol. s r.o., Hill-Rom Holdings, Gendron Inc., Invacare Corporation, Stryker Corporation, and several others.
Hospital Bed Market Recent Developments
March 2022- Optum, a UnitedHealth Group subsidiary, will work with LHC Group, a prominent in-home healthcare service provider, with UHG purchasing the latter for about USD5.4 billion. LHC offers healthcare services in the home for a demographic of mainly older patients suffering from chronic illnesses and injuries. It will be merged with Optum, which manages drug benefits, offers data analytics services, and operates with more than 100 health plans.
March 2022 – Cleveland, taking the latest step in its international expansion, has opened a new, private 184-bed hospital in London across the street from the Buckingham Palace Garden.
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