Dublin, Dec. 14, 2022 (GLOBE NEWSWIRE) -- The "Hospital Bed Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type, Usage, Application, and End User" report has been added to ResearchAndMarkets.com's offering.
The market is expected to grow from US$ 3,214.96 million in 2021 to US$ 4,688.96 million by 2028; it is estimated to grow at a CAGR of 5.7% from 2022 to 2028.
The growing preference for highly equipped hospital beds with innovative features fuels the overall market growth. Further, the Increasing popularity of smart hospital beds is emerging as a key trend in the market.
The development of information technology (IT) in healthcare, i.e., healthcare IT-based medical equipment such as smart hospital beds, involving the use of wireless sensor networks (WSNs), has resulted in easy and quick service acting as a solution to prevent bedsores in motionless and disabled patients. With simple applications (apps), hospital bed has been transformed into highly-networked appliances, which are categorized as Class 2 Medical Devices seeking electronic intelligence.
For example, modern hospital beds are equipped with a monitor screen that shows the health status of patients and enables remote transmission of data to the nurse station. Additional modules include tilt accelerometers and motor drives to control the tilt of the bed, powered wheels to facilitate the movement of the patient to different areas of the hospital, USB and Ethernet ports to aid in connectivity with a PC or a hospital network, and an LCD screen and keypad for the user interface, which allow healthcare providers to offer comfort to patients.
Global Hospital Bed Market: Geographical Overview
Europe holds the largest share of the global hospital bed market, whereas Asia Pacific is expected to register the highest CAGR during the forecast period. The increasing geriatric population and the growing prevalence of chronic diseases fuel the overall growth of the Europe hospital bed market.
As per the Organization for Economic Co-operation and Development (OECD) Labour Force Statistics, there were 4 European countries in the top 5 of the G7 countries, and Germany was the leading country with 21.4% of the population aged 65 and above.
The Group of Seven countries involve inter-governmental political forum comprising of Canada, France, Germany, Italy, Japan, the UK and the US. Further, the European Commission report states that the share of noncommunicable diseases (NCDs) among the total burden in Disability Adjusted Life Year (DALYs) in Europe is expected to reach 84% by 2030.
The projected growth of the hospital bed market in Asia Pacific is attributed to the accelerated economic growth of countries such as China and Japan, the growing focus of governments in these countries on the healthcare sector, the rising prevalence of chronic diseases, and increased investment from government bodies for the expansion of healthcare facilities amid the COVID-19 pandemic along with favorable regulatory reforms.
Future Trends in Hospital Bed Market
The increasing popularity of smart hospital beds would lead to significant trends in the global hospital bed market during the forecast period. According to a report by the Institute of Electrical and Electronics Engineers (IEEE), continuous patient monitoring during hospitalization is necessary for risk identification, and early diagnosis and treatment - resulting in reduced mortality and morbidity, and hospitalization costs.
The fall of patients from bed, and bedsores or pressure sores can seriously harm them. Pressure ulcers or bedsores can be avoided by timely, accurate mapping of pressure points for inhibiting tissue perfusion, which might lead to a patient's death. Smart hospital beds, enabled with advanced technologies, have highly developed embedded control functions and interactivity.
They support new functionalities such as continuous monitoring of patients' vital signs, preventing them from falling off the bed, and averting the development of pressure ulcers. In September 2021, Baxter announced a collaboration with Hillrom, Inc. for developing smart hospital beds with Hillrom, accounting for US$ 10.5 billion.
Global Hospital Bed Market: Segmental Overview
- The semi-electric beds segment accounted for the largest market share in 2021 and is expected to register the highest CAGR from 2022 to 2028.
- The acute-care beds segment led the market in 2021 and is expected to retain its dominance during the forecast period.
- The non-intensive care beds segment led the market in 2021 and is expected to retain its dominance during the forecast period.
| Report Attribute | Details |
| No. of Pages | 201 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $3214.96 Million |
| Forecasted Market Value (USD) by 2028 | $4688.96 Million |
| Compound Annual Growth Rate | 5.7% |
| Regions Covered | Global |
Key Market Dynamics
Market Drivers
- Rising Prevalence of Chronic Diseases
- Growing Preference for Highly Equipped Hospital Bed with Innovative Features
Market Restraints
- Bedsores or Pressure Sores Associated with Hospital Bed
Market Opportunities
- Home Healthcare Services for Geriatric Populations and Postoperative Care
Future Trends
- Increasing Popularity of Smart Hospital Bed
Company Profiles
- Hill-Rom Holdings, Inc. (Baxter)
- Stryker
- Arjo
- Invacare Corporation
- PARAMOUNT BED Co. LTD
- GF Health Products, Inc.
- Malvestio SpA
- Span America (Savaria Corporation)
- Savion Industries
- Stiegelmeyer GmbH & Co- KG
For more information about this report visit https://www.researchandmarkets.com/r/5qxktc
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