Meticulous Research®—a leading global market research company, published a research report titled ‘Hospital Beds Market by Product (Bed, Accessories), Technology (Manual, Powered), Type of Care (Rehabilitative, Curative, Long Term), Healthcare Facility (Pediatric, Maternal, Bariatric, Critical, Homecare, Med Surg) - Global Forecast to 2030.’
According to this latest publication from Meticulous Research®, the global Hospital beds market is projected to reach $6.66 billion by 2030, at a CAGR of 6.4% during the forecast period of 2023–2030. The growth of this market is mainly driven by the increasing elderly population coupled with the growing prevalence of chronic diseases, the growing number of hospitals, and the launch of technologically advanced beds. In addition, the evolution of smart and robotic beds, growing demand for beds at homecare settings, emerging economies, and growing medical tourism provide significant opportunities for Hospital bed vendors across the globe.
Hospital Beds Market: Future Outlook
The global medical beds market is segmented by Product (Beds, Accessories), Technology (Powered Beds [Electric Beds, Semi-electric Beds], Manual Beds, Smart Beds), Type of Care (Curative Care, Long-term Care, Rehabilitative Care), Healthcare Facility (Critical Care Unit, Long-term Care Unit, Bariatric Care Unit, Med-Surg Care Unit, Pediatric Care Unit, Maternal Care Unit, Home Care Settings), and Geography. The study also evaluates industry competitors and analyzes their market shares at the global and regional levels.
Based on product, in 2023, the beds segment is expected to account for the largest share of the market. The large market share of this segment can be primarily attributed to the high prevalence of acute & chronic diseases, outbreaks of infectious diseases, such as COVID-19 and Ebola, and the rise in the number of hospitals. Additionally, advancing technologies in medical beds are also driving the high adoption of medical beds.
Based on technology, the market is segmented into powered beds, manual beds, and smart beds. In 2023, the powered beds segment is expected to account for the largest share of the market. The large market share of this segment is attributed to the advantages offered by the powered beds, such as enhanced comfort over manual beds, improved sleep quality, and increased independence among the elderly population.
Based on type of care, the market is segmented into curative care, long-term care, and rehabilitative care. In 2023, the curative care segment is expected to account for the largest share of the market. The large market share of this segment is primarily attributed to the increased adoption of medical/hospital beds for curative treatment of acute and chronic illnesses. However, the long-term care segment is slated to register the highest CAGR during the forecast period. The growth of this segment can be attributed to the rapidly rising global geriatric population, which will increasingly need long-term care for chronic illnesses.
Based on healthcare facility, the home care settings segment is projected to record the fastest growth rate over the forecast period. Hospital beds for long-term care are designed to meet a person's health or personal care needs in the long run. The increasing aging population is one of the major factors driving the growth of the hospital beds market for long-term care, as this population is more prone to diseases that require care for an extended duration. Furthermore, long-term care at home provides an affordable and convenient option for the rapidly aging population.
This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), and the Middle East & Africa.
Asia-Pacific is slated to register the highest CAGR during the forecast period. The primary factors for the market growth are the rising geriatric population, rapid rise in the prevalence of chronic diseases, growth in per capita income, increasing investments in the healthcare sector, and the growing number of hospitals.
The key players operating in the global Hospital beds market are Stryker Corporation (U.S.), Hill-Rom Holding, Inc. (Part of Baxter International Inc.) (U.S.), Invacare Corporation (U.S.), Getinge AB (Sweden), Paramount Bed Holdings Co., Ltd. (Japan), Medline Industries, LP (U.S.), Stiegelmeyer GmbH & Co. KG (Germany), LINET Group SE (Czech Republic), Joerns Healthcare LLC. (U.S.), Drive DeVilbiss Healthcare (U.S.), Savaria Corporation (Canada), Midmark Corporation (U.S.), Amico Corporation (U.S.), Famed Zywiec Sp. z o.o. (Poland) and Malvestio Spa (A Subsidiary of Malvestio Group) (Italy).
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