Hospital Beds Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

The global market value of the Hospital Bed Market was valued at USD 3.4 billion in 2022, and a CAGR of 7.5% is expected during the forecast period. Increasing expenditure in healthcare by the government and increasing demand for smart and convenient beds for patients are driving significant growth in the market. Increasing demand for beds in which the head end, foot end, and middle part of the patient are easily adjusted according to the need is driving growth in the market.

The increase in cases of road accidents and increasing awareness of advanced surgical procedures are driving significant growth in the market. The increasing number of hospitalizations due to the rising prevalence of chronic and acute diseases is driving significant growth in the market. The increasing number of causalities post-pandemic is the key factor behind the growth in the market.

Growth Drivers

With the aging population, there is a higher demand for healthcare services, including hospital beds for both acute and long-term care. Technological innovations in hospital beds, such as smart beds with integrated monitoring systems and adjustable features, drive market growth as healthcare facilities seek to improve patient care and comfort. The increasing prevalence of chronic diseases, advancements in hospital beds, product launches, and excessive growth in the number of hospitals are driving significant growth in the market.

The pandemic also boosted the demand for hospital beds, and the rising prevalence of chronic diseases is driving the demand in the hospital bed market. The growing trend of medical tourism, where patients travel abroad for medical treatment, boosts the growth of the market significantly. Events like the COVID-19 pandemic highlighted the importance of hospital beds in the market significantly. Government initiatives aimed at improving healthcare access and quality stimulate demand for hospital beds through funding for healthcare facilities and equipment upgrades.

An increasing number of branded new private hospitals are blessed with luxurious facilities. The increasing number of patients with cancer, diabetes, and other chronic diseases is driving the growth of the market. Smart beds are required in hospitals with an integrated monitoring system.

Segmentation

By Technology

·         Powered Beds

·         Manual Beds

By Application

·         Acute Care

·         Long-term Care

By End-Users

·         Hospital

·         Ambulatory Surgical Centers

·         Others

Regional Outlook

·         Asia Pacific

·         North America

·         Latin America

·         Europe

·         Middle East and Africa

Hospital Bed Market by Technology Segmentation

On the basis of technology, the hospital bed market is segmented into powered beds and manual beds. Powered beds are the leading segment and are expected to dominate the market during the forecast period due to their ease of use, as they are adjusted electronically, allowing healthcare staff to change bed positions quickly. Powered beds typically offer a greater range of positioning options, including adjustable height and backrest leg elevation, and they provide better comfort and support to patients.

The ability to adjust bed positions electronically is the factor behind the significant growth in the market. Powered beds with built-in patient transfer systems or scales do help facilitate patient mobility and reduce the risk of patient handling injuries, which is driving significant growth in the market. In low-resource environments, manual beds are still in use due to their ease of availability. Rising disposable income all over the world is inspiring people to establish new nursing homes with fewer powered beds.

Regional Outlook

On the basis of the regions, the hospital beds market is segmented into 5 types: Asia Pacific, North America, Latin America, Europe, the Middle East, and Africa. North America boasts a highly advanced and developed healthcare infrastructure. North America is the leading segment in the hospital beds market and is expected to dominate the market during the forecast period due to advancements in technology and being a hub for medical technology innovation. Like many other regions in the world, North America has an aging population, leading to a higher prevalence of chronic diseases and an increased need for healthcare services.

North America is a popular destination for medical tourists seeking advanced medical treatments. The inflow of patients from other regions is driving growth in the market. Stringent healthcare regulations and standards are driving the growth of the market. Asia Pacific is another growing region due to increasing disposable income, improvements in healthcare infrastructure, and stringent government regulations that are driving growth in the region. Rapid urbanization and infrastructure development in countries like China, India, and South Korea are establishing new hospitals in the regions, driving the demand for healthcare facilities.

Economic growth in many countries in the Asia-Pacific region is supported by governments and individuals, leading to investment in healthcare infrastructure and equipment, including hospital beds. Adoption of advanced medical technologies is driving the growth of the market significantly. Several countries in the region, like India, Singapore, and Thailand, have emerged as popular destinations for medical tourism due to lower treatment costs and high-quality healthcare services. Many governments in the Asia-Pacific region are implementing initiatives to improve healthcare access and quality, including the expansion of healthcare infrastructure.

The presence of key players and the increasing number of geriatric people are driving significant growth in the market. Rising disposable income and rising healthcare expenditures are driving significant growth in the market. Countries like Italy, France, Germany, and the United Kingdom have the best healthcare infrastructure and hospitals with modern facilities. The universal healthcare system in many European countries, which ensures access to healthcare services for all citizens, is driving significant growth in the European market. Increasing demand for medical technology and innovation in European countries is driving growth in the market.

Europe has stringent regulations and standards for medical devices, including beds, and hospitals are driving the demand in the market significantly. Government spending on healthcare varies across different regions. Many European countries have publicly funded healthcare systems; there is also a growing trend towards healthcare privatization. The Middle East and Africa, along with Latin America, are expected to grow moderately during the forecast period. Demographic trends, healthcare, and technological innovations in medical tourism are the factors behind the growth in this region.

Key Players

·         Novum Medical Products

·         Midmark Corporation

·         Burke Bariatric Inc

·         Medline Industries Inc

·         Invacare Corporation

·         Stryker Corporation

·         Bed Holdings

·         Med-Mizer Inc

·         Antano Group S.R.L.

·         Paramount Bed Holdings

·         Other Players