According to a new market report published by Persistence Market Research “Global Market Study on Hospital Beds: Asia to Witness Highest Growth by 2020”, the global hospital beds market was valued at USD 5,254.2 million in 2014 and is expected to expand at a CAGR of 4.2% from 2014 to 2020, to reach an estimated value of USD 6,731.8 million by 2020.
Hospital beds refer to medical equipment used to provide care to patients during their hospitalization. Special features of hospital beds, such as adjustable heights of the bed and side rails controlled by electronic buttons, make them caretaker friendly and help provide better comfort to patients. Hospital beds can be classified on the basis of usage, power, and treatment. Globally, the hospital beds market is witnessing significant growth due to increasing prevalence of chronic diseases and increasing aging population. Moreover, increasing healthcare expenditure and technological advancements in this field are driving the market. However, high costs of advanced hospital beds restrain the hospital beds market. Similarly, decreasing demand for general hospital beds in developed countries is a major concern for the market. As a result, the market is expected to grow at a CAGR of 4.2% during 2014 – 2020.
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