Hospital beds Market - Global Opportunity Analysis and Industry Forecast – 2023

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.

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.

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.

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.

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