Market Research Future (MRFR) Conducted an Elaborate Study on the Global Hospital Beds Market that predicts the growth of the market with a substantial 5.5% CAGR during the forecast period of 2019-2023. Covered All the Segments and Sub Segments, Along With Top Industry Players and Geological Region. Outlet till 2023
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.
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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.
Top Players:
Hill-Rom Holdings
Linet spol. s r.o.
Invacare Corporation
Stryker Corporation
Paramount Bed Holdings Co.Ltd.
Getinge AB
Gendron Inc. and more.
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Segmentations:
The global hospital beds market is majorly segmented on the basis of type, power, end users, and regions.
On the basis of types, the global hospital beds market is segmented into acute care, long-term care, psychiatric & bariatric care, and others (maternity and rehabilitation beds).
Based on the power, the market is segmented into electric bed, semi-electric bed, and manual bed.
Based on end users, the global hospital beds market is segmented into hospital, clinics, ambulatory, and others.
Taste the market data and market information presented through more than 140 market data tables and figures spread over 118 pages of the project report. Avail the in-depth table of content TOC & market synopsis on “hospital beds market research report–Global forecast till 2023.”
Regional Analysis:
The global hospital beds market is segmented into four regions: the Americas, Europe, Asia Pacific, and the Middle East & Africa.
Europe holes the largest share of the global hospital beds market due to increasing government support and high healthcare spending. Moreover, continuous technological development and the growing presence of the global market leaders contribute to the market growth. The Americas is the second largest market due to strong economic conditions, huge geriatric population, and well-developed healthcare sector. Moreover, improving reimbursement policies is expected to fuel the growth of this market.
Asia Pacific is the fastest growing market due increasing prevalence of chronic diseases, growing government encouragement in healthcare sector, and increasing geriatric population will boost the market growth over the forecasted period. Additionally, increasing number of hospitals, increasing number of life-threatening diseases, and increasing healthcare expenditure have fueled the growth of the market.
However, the Middle East & Africa holds the least share in the market due to limited access to the healthcare resources and lack of technological development in healthcare facilities.
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