The Global Market for Hospital Beds is Projected to Exceed US$6.5 Billion by 2024
The Perennial Need for Beds
in Patient Care Environments, Innovative Designs, and Cutting-Edge Technologies
Drive Growth in Demand for Hospital Beds, According to a New Report by Global Industry Analysts,
Inc.
GIA
launches comprehensive analysis of industry segments, trends, growth drivers,
market share, size and demand forecasts on the global Hospital Beds market. The global market for
Hospital Beds is projected to exceed US$6.5 billion by 2024, driven by lower bed
density per population in countries across the world and the evolution of smart
beds with
advanced sensing and detection technologies.
Hospital
bed types differ by power source and medical institution settings, such as
pediatric beds, maternity beds, bariatric beds, general outpatient beds,
psychiatry beds, terminal patient beds, ambulatory, and intensive care unit (ICU)
beds. Beds can be fully-electric or semi-electric beds or with manual
hydraulic-pneumatic operation. The perennial need for hospital beds in patient
care environment against the backdrop of increasing focus of hospitals on mitigating surging
healthcare costs, reducing hospital stays, and increasing incidence of chronic
diseases represent the primary factor driving steady growth in demand for
hospital beds. The hospital beds market globally
continues to undergo a noticeable transformation as market participants
customize products and services in line with patient and healthcare giver’s
requirements. With growing demand for user friendly and safety features driven
by greater preference for home care and increasing need for hospitals to reduce
costs, there is a progressive focus on innovative designs and inclusion of
cutting-edge technologies. Latest hospital beds are designed to offer improved mobility, protect patients from
falls and injuries, improve patient outcomes and facilitate shorter recovery
period.
Future growth in the market will be
driven by chronic shortage of beds with few countries meeting the WHO
recommendation of 1.9 beds per 1,000 individuals; rising need for new hospital
constructions with median age of hospital buildings in most developed countries
on the rise; and the evolution of smart beds. Smart beds, equipped with advanced sensing
and detection technologies, track the patients’ vital parameters including
heartbeat, body temperature, blood pressure, and oxygen levels, among others,
and transfer them to the central system to be integrated into nurse call
systems and EMRs, which automatically notifies the nurses and doctors in case
of any emergency. Progressive mobility features are also gaining importance in
bed design especially in case of patients who are required to stay immobile in
recommended positions for faster healing and recovery. Increased demand for sophisticated
bed frames and surfaces with features that aid progressive mobility and patient
positioning is also expected to aid market adoption. Rising demand for intensive care units (ICU)
beds;
opportunities offered by medical tourism in emerging markets; expanding
geriatric population demanding greater clinical care, and growing prominence of
home care and the resulting demand for beds designed for home represent additional
factors benefiting market prospects.
As
stated by the new market research report on Hospital Beds, Europe represents the
largest market worldwide, followed by the United States. Asia-Pacific with a
CAGR of 6.6% over the analysis period ranks as the fastest growing market led
by factors such as increasing patient population, improving healthcare spending,
developing hospital infrastructure such as rise in hospital constructions and renovations,
availability of advanced treatments for chronic diseases, evolving healthcare
consumerism in developing economies, the resulting increase in competition and hospital
focus on providing high quality patient care services.
Major
players in the market include Hill-Rom Holdings, Inc.,
ArjoHuntleigh AB, Gendron, Inc., Invacare Corporation, Joerns Healthcare LLC, Joh. Stiegelmeyer GmbH & Co.
KG, Linet, spol. s r.o., Paramount Bed Co., Ltd., Savion Industries, and Stryker
Corporation, among others.
The
research report titled “Hospital Beds: A Global
Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market
trends, drivers, mergers, acquisitions and other strategic industry activities
of major companies worldwide. The report provides market estimates and
projections for all major geographic markets such as the United States, Canada,
Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe),
Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil, and
Rest of Latin America) and Rest of World. Segments analyzed include General Purpose Beds,
Bariatric Beds, Birthing Beds, Pediatric Beds, and Pressure Relief Beds.
For
enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com.
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