Hospital Bed Market Grow at a Healthy CAGR of 7.50% with value Of USD 5.52 billion by 2030 | MRFR
Research Reports
Apr 18, 2023
Hospital beds market research Report Information By Type (Acute Care, Long-Term Care, Psychiatric & Bariatric Care, Others), By Power (Electric, Semi-Electric, Manual), By End Users (Hospital, Clinics, Ambulatory), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030
The Hospital beds market size was valued at USD 3.1 billion in 2021 and is projected to grow from USD 3.33 Billion in 2022 to USD 5.52 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.50% during the forecast period (2022 – 2030).
The hospital bed market is a segment of the global medical furniture industry that is primarily driven by the increasing demand for better healthcare facilities, rising aging population, and a growing number of hospitals and clinics worldwide. Hospital beds are designed to provide support and comfort to patients during their stay in hospitals or medical facilities.
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Key Players
The market is highly competitive and fragmented, with several established players and new entrants competing for market share. The key players in the hospital bed market include Hill-Rom Holdings, Inc., Stryker Corporation, Invacare Corporation, Linet spol. s r.o., and Getinge AB.
Market Segmentation
The hospital bed market can be segmented based on several factors, including type, technology, end-user, and region.
Based on type, the hospital bed market can be segmented into manual beds, semi-electric beds, and electric beds. Manual beds are the traditional type of hospital beds that require manual adjustment of the bed position by healthcare professionals. Semi-electric beds have a motorized adjustment for the head and foot positions, while electric beds have motorized adjustment for the entire bed position. The electric beds segment is expected to grow at a higher rate due to the increasing demand for advanced healthcare facilities and rising healthcare expenditure.
Based on technology, the hospital bed market can be segmented into powered and non-powered beds. Powered beds are electric beds that have additional features such as motorized height adjustment and bed exit alarms, while non-powered beds do not have any electric components. Non-powered beds are expected to hold the largest market share due to their low cost and high availability, especially in developing countries.
Based on end-user, the hospital bed market can be segmented into hospitals, home care settings, and others. The hospitals segment is expected to hold the largest market share due to the increasing number of hospitals worldwide and the rising number of patients being admitted to hospitals. The home care settings segment is expected to grow at a higher rate due to the rising demand for home healthcare services and the increasing availability of advanced medical equipment for home use.
Based on region, the hospital bed market can be segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Each region has its own unique factors influencing the market growth, as discussed in the previous answer.
Regional Analysis
The hospital bed market can be analyzed regionally based on North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
North America is expected to hold the largest share in the hospital bed market due to the presence of well-established healthcare infrastructure, high healthcare expenditure, and the increasing number of hospital beds in the region. The US is expected to lead the market growth in North America due to the high demand for hospital beds and the increasing number of hospitals and clinics.
Europe is expected to hold the second-largest market share due to the presence of a well-developed healthcare system, increasing geriatric population, and the high adoption of advanced medical equipment. Germany, the UK, and France are expected to be the key markets in Europe.
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The Asia-Pacific region is expected to witness significant growth during the forecast period due to the increasing population, rising healthcare expenditure, and the increasing number of hospitals and clinics in the region. The growing medical tourism industry and the rising demand for home healthcare settings are also expected to drive market growth in the region.
Latin America and the Middle East & Africa are expected to show moderate growth due to the increasing government initiatives for healthcare infrastructure development and the rising demand for advanced medical equipment in these regions.
Overall, the hospital bed market is expected to grow globally, with different regions having their own unique factors influencing the market growth.
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