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The global hospital beds market is growing constantly and is expected to reach USD 4,824.2 million by 2023 from USD 2,515.1 million in 2016 at a CAGR of 5.5% during the forecasted period of 2017-2023.
The report titled “Hospital Beds Market -Forecast to 2023″ is a direct appreciation by Market Research Future of the market potential of the Hospital Beds Market. The report intends to provide accurate and meaningful insights, both quantitative as well as qualitative. It can be said with high confidence level, that this report will satisfy the need for comprehensive insights needed to compete and beat other players in today’s winner takes all market!
Global Hospital Beds Market – Overview:
The hospital beds market is growing mainly due to high healthcare expenditure in developed countries and rising prevalence of chronic diseases. According to a recent study report published by the MRFR, the hospital beds market is booming and expected to gain significance over the anticipated period. The market is forecast to show a spectacular growth by 2023, surpassing its previous growth with a striking CAGR during the forecast period (2017 – 2023).
Hospital beds are designed for specific hospitalized patients in need of some form of health care services. Hospital beds allow body positioning which is not possible with regular home bed, and they can also be attached with other medical equipment that cannot be used with regular home bed. With the rising advancement in technology, Hospital beds have become an essential requirement for patients who require a caregiver’s monitoring or occasional restraint. For instance, patients with dementia or other cognitive impairments are at high risk of falling out of bed. The bed rails connected with specialized beds assist in reducing the risk of falling.
One of the most common issues for patients moving from inpatient hospitalization to their homes is difficulty with getting in and out of bed. Hospital beds can alleviate this problem by providing several advantages such as, lowering the bed to the floor, elevating the head of the bed, and may others.
It is noted that rising prevalence of chronic disease is the key factors driving the hospital bed market. Chronic diseases, such as heart disease, chronic respiratory diseases, diabetes, stroke, cancer, are the leading causes of mortality worldwide. As per the statistics suggested by the World Health Organization (WHO), over 3 million deaths were occurred due to chronic obstructive pulmonary disease (COPD), in 2015.
Various other factors such as rising geriatric population, increasing number of medical emergencies, unmet medical needs, increasing government assistance, growing number of hospital and ambulatory services rising healthcare expenditure in the developed countries, improving regulatory framework, increasing adoption rate of new technology, and rising funding and reimbursement are continuously contributing to the growth of the global hospital beds market. According to the China National Committee on Aging, around 185 million people were above 60 years of age in 2014 i.e. 15.7% of the total population and the number is expected to reach 487 million by 2053 with a rising geriatric population. Increase in aging population drives the demand for the outpatient clinics and hospitals.
Despite these drivers, there are some issues associated with hospital beds market. The high cost of advanced hospital beds, and poor healthcare system in low and middle-income countries, may hinder the growth of the hospital beds market. The average cost of the advanced hospital beds ranges from USD 15,000 to USD 20,000. The middle income countries are not able to afford the cost of these specialized hospital beds, which may slow the growth of the market.
Global Hospital Beds Market – Key Players:
Hill-Rom Holdings, Linet spol. s r.o., Invacare Corporation, Stryker Corporation, Paramount Bed Holdings Co., Ltd., Getinge AB, Gendron Inc., and others are some of the significant players at the forefront of competition in the hospital beds market and are profiled in MRFR Analysis.
What makes our report unique?
1) An extensive research study on the Global Hospital Beds market, and its entire ecosystem, describes the market trends, drivers, restraints and opportunities of the Hospital Beds market.
2) We provide you the longest possible market segmentation based on type of products, procedures and geography and describe the market share region wise.
3) The report gives a bird eyes view on the competitive landscape which includes mergers and acquisitions, collaborations, market strategies, and new product launches.
Global Hospital Beds Market – Competitive Analysis:
The hospital beds market is currently dominated by various players. Due to rising cases of chronic diseases various existing and new marketers are coming up with advanced hospital beds and accessories to control various health conditions. The global hospital beds market is currently dominated by numerous players.
Invacare Corporation is one of them by holding a strong share in the market. The company is an American manufacturer and distributor of non-acute medical equipment. The major product portfolio of company includes Invacare G-Series Bed, Invacare Full-Electric Homecare Bed, and others.
Linet spol. s r.o. is another renowned player in hospital beds market. Linet spol. s r.o. operates as a subsidiary of Wibo Holding Gmbh, and manufacture, and export hospital care beds, mattresses, furniture,other medical care facility outfit products. On June, 2017, The Eleganza 5 bed safety system, product of Linet spol. s r.o., has been enhanced by introducing i-Brake system and lowered siderail sensors.
On February, 2017, The Company acquired Derma Pro Tech business which is based in France.
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