The Global Hospital Beds Market by Usage (Acute Care Beds, Psychiatric Care Beds, Long- Term care Bed, and Others ( Maternity and Bariatric Beds )), by Applications (Intensive Care Beds and Non-intensive Care Beds), By Type (Electric Beds, Semi-Electric Beds, Manual Beds), By End User (Hospitals, Home Care Settings, Elderly Care Facilities, Ambulatory Surgical Centers, and others) and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) was valued at US$ 3.2 billion in 2017 and is projected to exhibit a CAGR of 6.23% over the forecast period (2017 - 2025), as highlighted in a new report published by Coherent Market Insights. Growing geriatric population and increase in the prevalence of several chronic diseases are expected to be the major driving factors for the growth of global hospital bed market over the forecast period.
According to the World Bank data, in 2012, in U.S. the Hospital beds were 2.9 beds per 1,000 people, which is further expected to increase over the forecast period. According to Eurostat, in 2014 among the EU member States, Germany had the highest number of hospital beds relative to the population size with 823 hospital beds per 100,000 population and the average hospital beds in the Europe region were 521 beds per 100,000 inhabitants. Hospital bed is designed for hospitalized patients or for the patients who need healthcare services, as it can help in maintaining patients health properly and are immediately available for the admitted patients. Hospital bed market is expected to continue to grow, due to the advance technology that provides high safety. For instance, Strykers InTouch, a critical care bed is the first high acuity care bed, which provide advance technology and better bedside data to prevent adverse events. However, high cost of the intensive care bed and advancement in treatments, which significantly reduces the hospital stay are expected to hinder the growth of hospital bed market.
Browse 40 Market Data Tables and 35 Figures spread through 160 Pages and in-depth TOC on Hospital Beds Market by Usage (Acute Care Beds, Psychiatric Care Beds, Long- Term care Bed and Others (Maternity and Bariatric Beds )), by Applications (Intensive Care Beds and Non-intensive Care Beds), By Type (Electric Beds, Semi-electric Beds, Manual Beds), By End User (Hospitals, Home Care Settings, Elderly Care Facilities, Ambulatory Surgical Centers and others) and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) - Global Forecast to 2025.
Based on geography, Europe is expected to account major market share. Factors such as government support, technological advancement, and rising healthcare expenditure are the keys factors contributing to the growth of the market.
Asia Pacific is expected to witness maximum growth in the hospital bed market, owing to rapid increase in geriatric population.
Key Takeaways of the Hospital Beds Market:
• The global hospital beds market is expected to exhibit a CAGR of 23% over the forecast period (2017 - 2025), owing to the presence of high potential markets, especially in Asia Pacific, Latin America, the Middle East, and Africa.
• Technology advancement in hospital beds and advance technical feature are expected to drive the growth of global hospital bed market.
• Based on application segment, intensive care beds segment is expected to account major market share due to increasing prevalence of chronic disease and growing ageing population, in turn driving the growth of medical beds market required in intensive care units.
• Based on the end user, the hospital segment is expected to account for largest market share, due to the increase the prevalence of chronic disease.
• Some major players operating in the hospital beds market include Stryker Corporation, Hill-Rom Holdings, Inc., Getinge AB, Invacare Corporation, Medline Industries, Inc., Linet Spol. S.R.O., Stiegelmeyer GmbH & Co. Kg, Antano Group S.R.L, Amico Corporation, and Midmark Corporation.
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