COVID 19 Analysis: Hospital Beds Market Size, Share 2020, Global Industry Analysis, Top Company Profile, Merger, Growing Demand, Regional Revenue

“Hospital Beds Market”

Hospital Beds Market Insight

The global hospital beds market is expected to exhibit a solid 5.5% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The global hospital beds market was valued at USD 2,515.1 million in 2016 and is expected to rise to a valuation of USD 4,824.2 million by 2023, according to the MRFR report. The report examines the major trends and factors affecting the global hospital beds market and presents a detailed, comprehensive overview of the global hospital beds market to the readers. The report also examines the impact of the COVID-19 pandemic on the global hospital beds market in the short term and long term.

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Hospital beds are beds specifically designed to house patients in hospitals, clinics, or ambulatory care centers. They are powered and contain controls to enable body positions that are not possible on ordinary beds and also contain attachments for monitoring equipment such as ECG devices. The integral role played by hospital beds in monitoring and caring for patients is reflected in their growing demand over the last few years. The growing healthcare sector has driven the demand for hospital beds over the last few years, as the rising number of hospitals and clinics has led to a growing demand for hospital beds. Growing healthcare expenditure in developing economies is likely to remain a major driver for the global hospital beds market over the forecast period. Governments in countries such as China, India, and Brazil are likely to support significant investment in the healthcare sector over the forecast period, leading to growing demand for hospital beds, among other equipment.

The growing geriatric population around the world is also likely to be a major driver for the global hospital beds market over the forecast period, as the possibility of succumbing to a disease that necessitates the use of hospital beds increases with age. According to the WHO, the global geriatric population (i.e. above 65 years of age) was tallied at 524 million in 2010, and is likely to rise to 1.5 billion by 2050. This is likely to be a major driver for the global hospital beds market over the forecast period and beyond.

Hospital Beds Market Competitive Leaderboard:

Leading players in the global hospital beds market include Getinge AB, Gendron Inc., Paramount Bed Holdings Co. Ltd., Invacare Corporation, Linet spol. SRO, Stryker Corporation, and Hill-Rom Holdings. Major players in the global hospital beds market are likely to focus on developing new product capabilities and introducing new hospital bed products with added functionalities. This is likely to remain a promising avenue for players in the global hospital beds market.

Hospital Beds Market Segmentation:

The global hospital beds market is segmented on the basis of type, power, end user, and region.

By type, the global hospital beds market is segmented into acute care, long-term care, psychiatric and bariatric care, and others such as maternity and rehabilitation beds. The acute care segment holds a dominant 58.7% share in the global hospital beds market and is likely to retain its dominance over the forecast period. The increasing prevalence of chronic diseases and surgical procedures is likely to remain a key driver for the acute care segment over the forecast period.

By power, the global hospital beds market is segmented into electric beds, semi-electric beds, and manual beds.

By end user, the global hospital beds market is segmented into hospitals, clinics, ambulatory centers, and others. The hospitals segment holds the largest share in the global hospital beds market and is likely to remain the leading revenue generator in the market over the forecast period.

Hospital Beds Market Regional Analysis:

Europe holds the largest share in the global hospital beds market. Europe holds this position due to the strong presence of the healthcare sector in the region and the growing availability of advanced healthcare products in Western European countries such as France, Germany, and the UK. Increasing healthcare expenditure in Eastern Europe is also likely to be a key driver for the hospital beds market in Europe over the forecast period.

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NOTE: Our team of researchers are studying Covid-19 and its impact on various industry verticals and wherever required we will be considering covid-19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

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