London, June 23, 2020 (GLOBE NEWSWIRE) -- Hospital beds are indispensable components required at healthcare facilities, as most of the patients are not in mobile condition to receive the treatment, and rest is of utmost importance for them. Traditionally used beds are mostly manual and do not have any additional features. With the advancement of technology, electric smart beds came into existence that can easily track and monitor patients
The hospital beds market expected to grow at a CAGR of 7.8% from 2020 to reach $5.23 billion by 2027. The growth in this market is mainly driven by increasing elderly population coupled with growing prevalence of chronic diseases, growing number of hospitals, impact of COVID-19 pandemic, and launch of technologically advanced beds. In addition, evolution of smart and robotic beds, growing demand for beds at homecare settings, emerging economies, and growing medical tourism provide significant opportunities for vendors across the globe. However, growing preference for minimally invasive surgeries and declining number of beds in public hospitals are restraining the growth of the market to some extent.
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The global hospital beds market is segmented on the basis of product, technology, type of care, healthcare facility, and geography.
Based on product, the hospital beds market is segmented into medical/hospital beds and accessories. The medical beds segment is estimated to account for the largest share of the overall market in 2020. The large share of this segment can be primarily attributed to the rising prevalence of acute &chronic diseases, outbreaks of infectious diseases, such as COVID-19 and Ebola, increasing number of hospitals, growing demand for long-term care, and government investments & support for the improvement of healthcare in emerging countries.
On the basis of technology, the hospital beds market is segmented into powered beds and manual beds. In 2020, the powered beds segment is estimated to account for the largest share of the overall hospital beds market. The large share of these beds is primarily attributed to technological advancements, easy patient handling, and advanced features of powered beds.
Based on type of care, the hospital beds market is segmented into curative care, long-term care, and rehabilitative care. In 2020, the curative care segment accounted for the largest share of the overall hospital beds market. This is primarily attributed to greater adoption of medical/hospital beds for curative treatment of acute and chronic illnesses. On the other hand, the long-term care segment is slated to grow at the fastest rate. This can be attributed to the growing demand for long term beds as the geriatric population across the globe is rising rapidly, who will increasingly need long-term care for chronic illnesses.
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On the basis of healthcare facility, the hospital beds market is segmented into critical care units, long-term care units, bariatric care units, med-surg care units, homecare settings, pediatric care units, and maternal care units. The critical care units segment is estimated to hold the largest share of the overall hospital beds market in 2020, primarily due to growing number of accidents leading to high rate of admissions in ICUs, increasing aging population, and sudden outbreak of life-threatening infectious diseases. On the other hand, the home care settings segment is slated to grow at the fastest rate. This growth can be attributed to escalating healthcare costs and greater preference for home care by the rapidly aging population.
Based on geography, the global hospital beds market is mainly classified into five major geographies, namely, Europe, North America, Asia-Pacific, Latin America, and the Middle East & Africa. In 2020, Europe regions is estimated to account for the largest share of the global hospital beds market, followed by North America and Asia-Pacific. The rising aging population, growing collaborations among hospitals to enhance care efficiency, increasing number of maternity hospitals, strong healthcare system with well-qualified medical teams, government initiatives for the healthcare sector, and shortage of hospital beds due to infectious diseases, such as COVID-19 are some of the major factors driving the growth of the European market. However, the Asia-Pacific region is slated to register the fastest growth in the medical/hospital beds market during the forecast period, primarily due to the rising geriatric population, rapid rise in the prevalence of chronic diseases, growth in per capita income, increasing investments in the healthcare sector, and growing number of hospitals.
Some of the key players operating in the global hospital beds market are Stryker Corporation (U.S.), Hill-Rom Holding, Inc. (U.S.), Invacare Corporation (U.S.), Getinge AB (Sweden), Paramount Bed Holdings Co., Ltd. (Japan), Medline Industries, Inc. (U.S.), Stiegelmeyer GmbH & Co. KG (Germany), Gendron, Inc. (U.S.), LINET Group SE (Czech Republic), Joerns Healthcare LLC. (U.S.), Span-America Medical Systems, Inc. (U.S.), Savion Industries (Israel), and Malvestio Spa (Italy), among others.
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Scope of the Report:
Hospital Beds Market, by Product
- Medical/Hospital Beds
- Accessories
Hospital Beds Market, by Technology
- Powered Beds
- Electric Beds
- Semi-electric Beds
- Manual Beds
Medical/Hospital Beds Market, by Type of Care
- Curative Care
- Long-term Care
- Rehabilitative Care
Hospital Beds Market, by Healthcare Facility
- Critical Care Unit
- Long-term Care Unit
- Bariatric Care Unit
- Med-Surg Care Unit
- Pediatric Care Unit
- Maternal Care Unit
- Home Care Facility
Hospital Beds Market, by Geography
- Europe
- Russia
- France
- U.K.
- Germany
- Italy
- Spain
- Rest of Europe (RoE)
- North America
- U.S.
- Canada
- Asia-Pacific (APAC)
- India
- Japan
- China
- Rest of APAC (RoAPAC)
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of LATAM (RoLATAM)
- Middle East & Africa
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