Medical/Hospital Beds Market is segmented by Product (Bed, Accessories), Technology (Power, Manual), Type of Care (Curative, Rehabilitation), Healthcare Facilities (Critical, Bariatric, Long-term, Paediatric, Maternal, Home Care) and Geography.
The Hospital Beds Market is anticipated to grow at a CAGR of 7.8% during the forecast period reaching a market size value of USD 5.32 billion by 2028.
Hospital Beds are beds specifically designed in such a way to align with the demands and needs set by the healthcare industry in providing patient comfort and convenience. These hospital cots differ from the ordinary beds commonly used in households because hospital beds are adjustable by lowering or raising the specific portions of the frame (foot and head), this is to offer sleeping position that would be best comfortable to patients. During the onset of the pandemic, hospital beds are vital in delivering efficient patient care.
The growth of this market is mainly attributed to factors such as growing geriatric population along with the rising number of chronic diseases cases, rate of hospitalization has increased due to COVID-19 infection, and emergence of other infectious diseases, as well as presence of well furnished and equipped infrastructure hospitals, and technologically advanced beds have been introduced to the market.
There are also hindrances in the growth of this market. These are, minimally invasive surgeries are preferred and ambulatory surgeries and healthcare center are availed of by patients, low funding on public hospitals thus, adoption of hospital beds are reduced.
Impact of COVID-19 on the Hospital Beds Market
The spread of the COVID-19 virus spiked the demand for hospital beds because the cases of infected individuals are increasing. There is a higher demand in the market because treatment of the infected has been prioritized by governments and the healthcare industry. Hospital bed is a vital core element when it comes to rendering patient care because the comfort and convenience of patients are always on top. However, with the outbreak of the pandemic, and with the rising cases of COVID-19 patients, healthcare bed capacities are limited, worst comes to worst, there’s unavailability. The number of hospital beds in healthcare facilities are also insufficient to support new cases of individuals being hospitalized. As per the Institute for Health Metrics and Evaluation, in April 2020, there is an estimated shortfall of 16,323 hospital beds in the U.S. alone, 500,000 in Germany, 7,917 in France, 127,338 in U.K. and 9,820 in Spain. Governments and healthcare facilities opted to convert general and mental hospital beds into ICU beds just to fill in the shortage.
The rise of COVID-19 cases can be one of the negative factors that can hinder the growth of hospital beds market since hospitals, medical clinics and research institutes have a surge when it comes to the volume of COVID-19 case thereby causing high demand for hospital beds. Hospitals and clinics prioritized COVID-19 cases and is limited when it comes to physical interaction because controlling the spread of virus is of top priority. Another restraint is the disrupt in the supply chain with respect to manufacturing and distribution of hospital beds raw materials. The strict protocols and lock downs imposed by the governments globally, caused the decline of scheduled production and facility operations because most of it have already been halted. The pandemic is a real challenge most especially in the healthcare sector because the resources and man power are limited taking into consideration that facility workers are vulnerable to being infected.
Key Findings in the Global Medical/Hospital Beds Market
In terms of technology, powered beds are expected to lead the largest overall share in the market in 2020. This growth is mainly attributed to healthcare facilities’ adoption in the developed regions as well as its increasing need in the developing regions. There are advantages on using powered beds compared to manual beds--transporting of patient can be convenient and easy, position adjustments and comfort of patient can be easily had, mobile monitoring, inclusion of fall detection feature which can be very beneficial in terms of patient monitoring.
In terms of type care, long term care segment is projected to grow at the fastest CAGR during the forecast period of 2021-2028. This rapid growth owes it to factors such as, emergence of chronic diseases in connection with the aging population since the elderly are more prone to acquiring diseases that require extensive care for a longer period of time.
In terms of healthcare facility, the critical care unit segment is expected to have the largest overall share in the medical beds market in 2020. this is due to the increasing number of accidents that requires intensive care and admission in the ICU along with the increasing geriatric population, and emergence of chronic infectious diseases.
Regional Market Analysis
In terms of regional segment, Europe dominates in 2020 but Asia Pacific is projected to grow with rapid CAGR in 2021-2028. The factors owing to the growth of hospital beds market are, increasing economic growth in numerous countries, government prioritizes the healthcare sector, emergence of chronic diseases, widespread of the COVID-19 virus, government investments in the improvement and expansion of healthcare facilities, additionally, the execution of favorable reformation of health policies.
Based on an extensive assessment, these major key players in the Real-World hospital beds market have a competitive landscape and utilizing key strategic developments to lead the industry over the past years until now. These companies are, Stryker Corporation (U.S.), Hill-Rom Holdings, Inc. (U.S.), Getinge AB (Sweden), Invacare Corporation (U.S.),Joh. StiegelmeyerGmBH& Co. KG (Germany), Paramount Bed Holdings Co., Ltd. (Japan), LINET Group SE (Czech Republic), Medline Industries, Inc. (U.S.), Joerns Healthcare LLC. (U.S.), Gendron, Inc. (U.S.), Span-America Medical Systems, Inc. (U.S.), Savion Industries (Israel), and Malvestio Spa (Italy).
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2021 – 2028)
• Data breakdown for every market segment (2021 – 2028)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Product Analysis (Revenue, USD Million, 2021 - 2028)
• Medical/Hospital Beds
Technology Analysis (Revenue, USD Million, 2021 - 2028)
• Powered Beds
• Electric Beds
• Semi-electric Beds
• Manual Beds
Type of Care Analysis (Revenue, USD Million, 2021 - 2028)
• Curative Care
• Long-term Care
• Rehabilitative Care
Healthcare Facility Analysis (Revenue, USD Million, 2021 - 2028)
• Critical Care Unit
• Long-term Care Unit
• Bariatric Care Unit
• Med-Surg Care Unit
• Pediatric Care Unit
• Maternal Care Unit
• Home Care Facility
Region Analysis (Revenue, USD Million, 2020 – 2028)
• United States
• United Kingdom
• South Korea
• Saudi Arabia
• Rest of World
• United States Hospital Beds Industry Research Report
• Europe Hospital Beds Industry Research Report
• Asia Pacific Hospital Beds Industry Research Report
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