USD 3.07 billion
Hospital Beds Market Size, Share, Growth Analysis, By Type(Electric Medical Beds, Semi-Electric Medical Beds, Manual Medical Beds), By Usage(Acute Care, Maternity, Others), By Application(Non-Intensive Care, Intensive Care), By End User(Hospitals, Homecare, Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2672 |
Region:
Global |
Published Date: September, 2024
Pages:
157
|Tables:
59
|Figures:
75
Hospital Beds Market Insights
Hospital Beds Market size was valued at USD 4.0 billion in 2022 and is poised to grow from USD 4.28 billion in 2023 to USD 7.29 billion by 2031, growing at a CAGR of 6.90% during the forecast period (2024-2031).
Medical beds are tailored for using in healthcare facility environments such as hospitals, nursing homes, or home healthcare. These beds come with great features, made especially for medical and comfort needs of patients who require extra care for a long duration or for rehabilitation or recovery purposes. The rise in expenditure on health care by the government, private health organization, and a person itself leads to the purchase of high-quality medical equipment including medical beds. Such investments promote adoption of advanced healthcare technology and facilitates upgrade in infrastructure, contributing toward the hospital beds market growth.
Growing elderly population and rise in number of hospitals and ambulatory surgery centers globally will drive the global hospital beds market over the forecast period. In addition, rise in the prevalence of chronic disease caused due to change in the lifestyle is also driving growth of population health management market. Further, adoption of such advanced features including bedsores prevent function, articulated bed position, wireless remote control and safety rails among the key market player is also anticipated to provide lucrative opportunities for further expansion of across the global. But, high priced technologically advanced beds are likely to hinder market growth slightly in near future, leading to a reduction in the hospital beds market size.
US Hospital Beds Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Hospitals
Fastest Growth
Hospitals
Growth Rate
7.5% CAGR
Global Hospital Beds Market ($ Bn)
Country Share for North America Region (%)
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Hospital Beds Market Segmental Analysis
Global Hospital Beds Market is segmented by Type, Usage, Application, end user and region. Based on Type, the market is segmented into Electric Medical Beds, Semi-Electric Medical Beds, and Manual Medical Beds. Based on Usage, the market is segmented into Acute Care, Maternity, and Others. Based on Application, the market is segmented into Non-Intensive Care, and Intensive Care. Based on End User, the market is segmented into Hospitals, Homecare, and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Hospital Beds Market Analysis by Type
Based on type, the market is segmented into electric beds, semi-electric beds, and manual beds. The manual bed segment is dominating the market with the largest hospitals bed market share. The demand for manual beds is increasing due to its cost effectiveness and uncomplicated design. These beds provide mechanical simplicity, which means they are very durable and require less maintenance. In addition to this, manual beds are cost-efficient for healthcare facilities because they offer the basic and fundamental functionality with perfection. Furthermore, their extensive use due to practicality provides better sustainability and less repairs, contributing towards the hospital beds market growth. In addition to this, the cost-effective nature of manual beds along with their convenience and ease-of-use is significantly supporting the market growth as they are ideal medical bed options for home care settings.
According to hospital beds market analysis, electric bed segment is expected to witness the fastest growth during the projection period. This growth is mainly owing to developments in hospital infrastructure and acute disorder incidence. Electric beds are known for their convenient and high-end functions. They have motors and electronic controls for automatic regulation of the bed height, head, and foot portions. In addition, Electric beds provide comfort for patients and ease the overall process of care which increases the efficiency of caregivers and helps prevent bedsores with frequent repositioning. These factors are increasing the growth of the electric bed segment, leading to the advancement of the market.
Hospital Beds Market Analysis by Usage
In terms of usage, the hospital beds market is segmented into critical care, acute care, and long-term care. Acute care segment is dominating the market with the largest hospital beds market share. This is because they are used to treat patients requiring active, short-term treatment for severe injury, illness episodes, urgent medical conditions and recovery from surgery. They are intended for a greater variety of medical requirements and have broad availability in nearly all hospital services, such as ER and post-surgical recovery places. In addition to comfort, acute care beds provide better functionality and comfort, providing vital features like adjustability and easy access to health care providers. Thus, the growing clinical need for acute care beds owing to wide range of patient needs and high turnover along with varied patient population is supporting the market growth.
According to hospital beds market analysis, the critical care category is witnessing the fastest growth over the forecast period in the hospital beds market. This is mainly owing to rising incidences of terminal disease, traffic accidents and increasing healthcare expenditure. Critical care beds are used for monitoring patients with intensive acute illness. These come with features like the high adjustability, integrated medical equipment to monitor vitals and special surfaces to prevent pressure ulcers. Intensive care units (ICUs)need critical care beds as they are places where patients in life-threatening conditions go. They are made to be comfortable and resilient since they used for a longer period of time. In addition, critical care beds are equipped with comfort-enhancing and mobility-improving features, including procedures to help care for the patient or reduce bedsores.
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Hospital Beds Market Regional Insights
North America is dominating the market with the largest hospital beds market share. This rapid growth in the market due to huge number of hospitals and healthcare facilities in countries such as U.S. The United States has the highest health care expenditure in the world, and its medical system is one that depends on modern medical instruments and devices that greatly rely on technology. This means a significant supply chain demand for hospital beds to provide patient bed required throughout various settings of care. Furthermore, the region has a dominant position in the hospital bed manufacturing market due to the presence of leading global manufacturers of hospital beds.
According to hospital beds market analysis, Asia Pacific is witnessing the fastest growth in the market. This rapid growth in Asia Pacific region is driven by rapid growth of healthcare sector to cater ever increasing population, improvement in per capita income and higher easing medical tourist trends. From fast-growing nations such as China, India and Japan we have huge investment occurring in new hospitals being built, as well as existing hospital upgrading. It is because of this that such walk-in hospitals have been increasing their quantity in the last couple of years which has actually increased the procurement of hospital beds. Meanwhile, reduced production costs are also contributing towards the ability for Asian manufacturers to ramp up exports and establish a global footprint.
Global Hospital Beds Market By Geography
- Largest
- Fastest
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Hospital Beds Market Dynamics
Hospital Beds Market Drivers
Increasing Investments in Hospital Infrastructure
- Development of infrastructure in medical ecosystem further supports the hospital beds market growth. Growing investments in infrastructure will also increase expenditure for medical beds in hospitals, playing a crucial role as growth parameter fuelling market expansion. The increase in healthcare sector is primarily stimulated by widespread policy reform, economic liberalization, rapidly rising middle-class demographic with expanding purchasing power, and increased investment in infrastructural development.
Growing Prevalence of Chronic Diseases
- Chronic diseases are rapidly increasing across the globe, which is boosting the hospital beds market growth. Moreover, the increased prevalence of chronic diseases, such as stroke, heart disease, and cancer, that need hospitalization is a pivotal factor boosting demand. The growing use of beds for chronic disease management as they require more time in a facility compared to an acute illness is also promoting the market expansion. Thus, the increasing adoption of personalized care by healthcare systems worldwide, subsequently resulting into increase in requirement of patient-specific hospital beds is driving demand for global market.
Hospital Beds Market Restraints
High Cost to Impact Small and Medium-Sized Hospitals
- One of the main reasons why hospital beds may not get updated is that healthcare facilities, especially those with limited budgets, find it hard to cover the initial investment needed for buying advanced medical beds equipped with latest features and technology. These expenses involve the initial purchase price of the beds and their installation, training, and any costs associated with customization. This, in turn can act as a barrier to the market growth, because the high cost of purchasing these beds may cause delays or unwillingness to replace existing bed inventory or increase capacity.
Rising Substitutions for Hospital Beds
- In many cases medical care can be provided in alternative settings including home healthcare services, outpatient care or other non-institutional settings. This decreases the need for medical beds in hospitals and other healthcare facilities, especially for short term or non-critical cases. Furthermore, with the development of telemedicine and remote monitoring technology, healthcare providers can provide care remotely without sacrificing quality, making hospital beds even less necessary.
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Hospital Beds Market Competitive Landscape
The hospital beds industry will continue to flourish in coming years, as major market players are putting huge amount of money into R&D for developing an advanced product portfolio. Market participants are also implementing several strategic activities with an aim to expand their market. Companies are focusing into new product launches, contract deals, mergers & acquisitions, as well as partnerships with other organizations. The companies competing in the market need to deliver inexpensive options to continue to grow and thrive in an ever-growing competitive field. Many companies in the market is also emphasizing on manufacturing beds locally to reduce operational expenses.
Hospital Beds Market Top Player’s Company Profiles
- Thermo Fisher Scientific, Inc. (US)
- QIAGEN (Germany)
- NanoString Technologies, Inc. (US)
- Merck KGaA (Germany)
- Takara Bio, Inc. (Japan)
- BioGenex (US)
- GeneCopoeia, Inc. (US)
- New England Biolabs (US)
- Narang Medical Limited (India)
- Amico Corporation (Canada)
- Getinge AB (Sweden)
- K care Healthcare (Australia)
- Ascom Holding AG (Switzerland)
- Hopital du Valais (Switzerland)
- MediWales (UK)
- Rovamed (France)
- Sidhil Ltd. (UK)
- Famed Zywiec (Poland)
- AFC Industries, Inc. (US)
- Durable Medical Equipment Co. (US)
- Med-Mizer, Inc. (US)
- Ruder Medical (US)
Hospital Beds Market Recent Developments
- In June 2024, Noida International Institute of Medical Sciences Hospital, in the preceding year expanded its hospital bed capacity to over 750 from 450. This commendable feat will increase access to health services for populations at urban and rural areas. The hospital seeks to be an affordable, full-service medical facility for all patients.
- In February 2023, GMG Medical Equipment in San Diego provided commercial-grade beds for outpatient care and people coming out of the hospital to hospitals supporting their efforts.
- In August 2022, the Manufacturer of Hospital beds Midmark Corporation announced the launch of India’s First Intelligent Connected Bed with Embedded Contactless Remote Patient Monitoring (RPM) and Early Warning System (EWS).
Hospital Beds Key Market Trends
- Increasing Insurance Coverage: Healthcare reforms focused on universal health coverage and access to the services are creating a positive hospital beds market outlook for large hospitals, which in turn gives future prospective for growth of the market. Accordingly, several countries are implementing reforms to make healthcare accessible to a larger population, further driving the market growth. Moreover, increasing penetration of reforms resulting in a rise in preventive care and early diagnosis is amplifying the demand for bed treatment associated with shorter stays and outpatient care, which is further driving market growth.
- Increasing Ageing Global Population: Increase in population around the world, combined with a growing number of older people is one of the factors driving demand for hospital beds market. Moreover, the increasing frequency of hospitalization among elderly patients needing home health care also drives the market growth in a manner aligned with this. In addition, this transitioning into a high prevalence of chronic diseases like diabetes, heart disease and respiratory diseases is another key factor contributing to the growth of the market.
Hospital Beds Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the growth of global medical beds industry is mainly attributed to the increase in healthcare infrastructural development investments, technological innovations in ICU beds, rise in number of private hospital beds, and increasing volume of chronic care patients. However, this market growth may be restrained to some extent by the decreasing number of beds in public hospitals. This growing trend for home care is likely to create a substantial opportunity for the players in the market.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 4.0 billion |
| Market size value in 2031 | USD 7.29 billion |
| Growth Rate | 6.90% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Hospital Beds Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Hospital Beds Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Hospital Beds Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Hospital Beds Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Hospital Beds Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Hospital Beds Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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