Hospital Beds Market Report (2023 to 2031)

Newark, New Castle, USA, May 18, 2023 (GLOBE NEWSWIRE) -- Growth Plus Reports estimated the size of the global market for hospital beds in 2022 to be worth US$ 4.81 billion and is expected to increase at a revenue CAGR of 4.7% to reach US$ 7.28 billion by 2031.

Analysis of the global market for hospital beds indicates that during the forecast period, revenue share is likely to increase significantly. A crucial piece of equipment utilized in healthcare facilities worldwide is hospital beds. With features like movable backrest and footrest positions, adjustable height, customized mattresses, and other accessories, hospital beds are made to specifically satisfy the demands of patients.

Key Takeaways:

The increasing number of hospital admission is driving the market revenue share.

The market revenue is highly boosted by the increased Covid-19 cases.

The increase in the market demand is largely due to geriatric and long-term bedridden patients.

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Hospital Beds Market Scope

Report Attribute

Details

Market size value in 2022

US$ 4.81 billion

Revenue forecast in 2031

US$ 7.28 billion

Growth Rate

CAGR of 4.7% from 2023 to 2031

Base Year for Estimation

2022

Forecast Period

2023-2031

Historical Year

2021

Segments Covered

Technology, Application, End-user, and Region

Regional Scope

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

Recent Development in the Hospital Beds Market:

In February 2023, the acquisition of the ALTA Platform from Able Innovations was announced by Bruyère, an academic healthcare organization dedicated to developing the next generation of healthcare professionals and improving care through research and partnerships with industry partners. Its complex care units will use this robotic patient transfer system, which resembles a hospital bed.

Competitive Landscape

A list of the prominent players operating in the global market for hospital beds includes:

Hard Manufacturing Company Inc.

Hillrom Co, Inc. (Baxter International)

Medline Industries, Inc.

Stryker Corporation

Paramount Bed Co., Ltd.

Market Drivers and Restraints:

The global hospital beds market revenue is driven by the rising increasing demand for laryngoscopes in emergency medical services, advancements in technology, and growing awareness of lacrimal gland and tear duct disorders.

However, due to the minimally invasive procedures leading to fewer hospital stays, the hospital beds market revenue growth is expected to be restrained.

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Market Segmentation:

Segmentation By Technology

Based on the technology, the semi-electric medical bed segment dominates the global hospital beds market with the largest revenue share. This large revenue share is due to its affordability and adaptability. These beds are comfortable and safe, allowing easy adjustments and contributing to the large revenue share.

Segmentation By Application

Based on the application, the acute care beds segment dominates the global hospital beds market with the largest revenue share. Patients who are seriously ill or injured can usually use acute care beds because they are designed with features that meet their needs. These include specialty mattresses and various accouterments, as well as adjustable height, backrest, and footrest configurations. Specialized mattresses and other accessories are available, as well as adjustable height, backrest, and footrest positions. This contributed to the overall market revenue share.

Segmentation By End User

Based on end-user, the hospital segment accounts for the highest revenue share in the global hospital beds market due to the large patient pool, beds required for surgical procedures, and other procedures requiring longer hospital stays. Furthermore, hospitals have shown a significant rise in revenue share during the Covid-19 pandemic due to a large patient pool getting admitted to the hospitals and longer stays in isolation wards.

Regional Growth Dynamics

Based on the region, North America, with the largest revenue share, dominates the global hospital beds market. This large revenue share is ascribed to the quick uptake of technology and the rise of neurological disorders. The continued involvement of businesses in the region in R&D projects to introduce cutting-edge hospital bed technology is also contributing to the expansion of the area.

Report Coverage

Growth Plus Reports conducted extensive research on the world market for hospital beds. We looked at the basic market traits, important investment spheres, regional growth analytics, revenue projections, rival market participants, and mergers and acquisitions.

Table of Content

INTRODUCTION

Market Ecosystem

Timeline Under Consideration

Historical Years – 2021

Base Year – 2022

Forecast Years – 2023 to 2031

Currency Used in the Report

RESEARCH METHODOLOGY

Research Approach

Data Collection Methodology

Data Products

Secondary Products

Primary Products

Market Estimation Approach

Bottom Up

Top Down

Market Forecasting Model

Limitations and Assumptions

PREMIUM INSIGHTS

Current Market Trends (COVID-19 Perspective)

Key Players & Competitive Positioning (2022)

Regulatory Landscape

Reimbursements

MARKET DYNAMICS

Drivers

Restraints/Challenges

Opportunities

GLOBAL HOSPITAL BEDS MARKET - ANALYSIS & FORECAST, BY TECHNOLOGY

Electric Medical Beds

Semi-Electric Medical Beds

Manual Medical Beds

GLOBAL HOSPITAL BEDS MARKET - ANALYSIS & FORECAST, BY APPLICATION

Acute Care Beds

Psychiatric Care Beds

Long-Term Care Beds

Maternity Beds

Others

GLOBAL HOSPITAL BEDS MARKET - ANALYSIS & FORECAST, BY END-USER

Hospitals

Home Care

Ambulatory Centers

Others

HOSPITAL BEDS MARKET TOC

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VALUE PROPOSITIONS RELATED TO THE REPORT:

Powered with Complimentary Analyst Hours and Expert Interviews with Each Report

Comprehensive quantitative and qualitative insights at segment and sub-segment level

Covid 19 impact trends and perspective

Granular insights at global/regional/country level

Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment

Blanket coverage on competitive landscape

Winning imperatives

Exhaustive coverage on 'Strategic Developments' registered by leading players of the market.

CUSTOMIZATION OPTIONS:

Distributor Landscape Assessment

Pricing Intelligence

Customer Base Assessment

Investment & Initiatives Analysis

'Business Profile' of Key Players

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About Us:

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Growth Plus portfolio of services draws on our core capabilities of secondary & primary research, market modelling & forecasting, benchmarking, analysis and strategy formulation to help clients create scalable, ground-breaking solutions that prepare them for future growth and success.

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