What Factors Propelled The Growth Of The Hospital Beds Market In The Past?
The hospital beds market has seen considerable growth due to a variety of factors.
•In the past few years, we've witnessed a significant expansion in the market size of hospital beds. It's projected to rise from $4.35 billion in 2024 to $4.64 billion in 2025, with a compound annual growth rate (CAGR) of 6.7%.
Factors contributing to this growth during the historic period include a rising aging population globally, a higher prevalence of chronic illnesses, advancements in healthcare facilities, increased surgical procedures and hospital admissions, as well as government-funded investments in healthcare.
What Is The Projected Growth And Market Size For The Hospital Beds Sector?
The hospital beds market is expected to maintain its strong growth trajectory in upcoming years.
• The market for hospital beds is poised for a substantial growth spurt in the coming years, projected to reach $6.56 billion by 2029 with a CAGR of 9.0%.
This forecasted expansion is attributed to factors such as heightened attention on patient comfort and care, increased global healthcare spending, the rise of home healthcare services, the need for bariatric hospital beds, and the incorporation of smart technologies in hospital beds. Noteworthy trends that are likely to impact the market during the prediction period include the integration of telehealth, emphasis on patient safety, the effect of the aging population worldwide, as well as the development of modular and convertible bed solutions, and sustainable, environment-friendly designs.
What Factors Are Driving Growth In The Hospital Beds Market?
The growth of the hospital bed market is anticipated to be stimulated by the escalating hospitalization rate. Hospitalization pertains to the admission of a patient into a healthcare facility or hospital for medical treatment, monitoring, or care. Hospital beds are used by patients for their stay in the hospital while they undergo treatment and recovery, and for rest. For example, as per the Ontario Agency for Health Protection and Promotion, a health agency based in Canada, there were 29,524 COVID-19 hospitalizations in 2022, showing a rise from 22,559 in 2021, as recorded in March 2023. Furthermore, the rate of hospitalizations per 100,000 individuals was higher in 2022 compared to 2021. Therefore, the rising rate of hospitalizations is triggering the expansion of the hospital bed market.
What Are The Main Segments Of The Global Hospital Beds Market?
The hospital beds market covered in this report is segmented –
1) By Type: Semi-Electric Beds, Electric Beds, Manual Beds
2) By Usage: Acute Care Beds, Long-Term Care Beds, Psychiatric Care Beds, Other Usages
3) By Application: Non-Intensive Care Beds, Intensive Care Beds
4) By End User: Hospitals, Clinics, Ambulatory Services, Other End Users
Subsegments:
1) By Semi-Electric Beds: Full-Electric With Manual Functions, Adjustable Height Semi-Electric Beds
2) By Electric Beds: ICU Electric Beds, Standard Electric Beds, Specialty Electric Beds
3) By Manual Beds: Adjustable Manual Beds, Fixed Height Manual Beds
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What Emerging Trends Are Influencing The Growth Of The Hospital Beds Market?
Leading players in the hospital bed market are launching innovative products like ICU bed upgrade platforms to maintain their market standing. These platforms represent systems or technologies designed to add or improve certain functionalities or capabilities of ICU beds. For example, in March 2023, Stryker, an American medical device organization, rolled out SmartMedic, the first ICU bed upgrade platform in India meant to improve patient care and safeguard the caregivers. SmartMedic aims to boost the existing features of ICU beds in hospitals by including functionalities such as monitoring patient weight adjustments, supervising patient movements from nurse stations, and enabling X-ray procedures right in the ICU without any necessary patient relocations. This solution aims to minimize patient discomfort and elevate the level of care.
Who Are the Key Players in the Hospital Beds Market?
Major companies operating in the hospital beds market include:
• Apex Medical Corp
• Sunrise Medical LLC
• Invacare Corporation
• Paramount Bed Co. Ltd.
• Midmark Corporation
• Drive Medical
• Joerns Healthcare LLC
• Span-America Medical Systems
• ArjoHuntleigh
• Joh. Stiegelmeyer & Co. GmbH
• Linet spol s.r.o
• Amico Corporation
• Nitrocare
• Kanghui Medical Technology
• Savion Industries
• Guldmann AS
• Haelvoet NV
• Proma Reha Inc.
• Medline Industries LP
• Stryker Corporation
• Merivaara Corporation
• Malvestio SpA
• Hopefull Medical Equipment
• StarMed Healthcare
• Novak M d.o.o.
• Besco Medical Co. Ltd
• Gendron Inc.
• Royax SRO.
• Getinge AB
What Is The Most Dominant Region In The Hospital Beds Market?
Europe was the largest region in the hospital beds market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hospital beds market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
