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Hospital Beds Market To Surpass Us$ 5.2 Billion Threshold By 2025 Globally
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Many of the hospitals have shifted their capital funds towards the hospital infrastructure, which is mainly seen in private hospitals. Improving healthcare amenities along with increasing spending in healthcare is expected to boost growth of hospitals beds market globally. Increasing number of geriatric population and need for their treatment is expected to fuel the growth of hospital bed market over the forecast period. The number of hospital beds are very less in emerging economies. For instance, in India, according to World Bank data, 2011, the hospital beds were recorded to be 0.9 beds per 1,000 population. According to Eurostat 2015, Europe hospitals accounted for the highest share of current healthcare expenditure and public funding in the form of general government and social security funds, which dominates the healthcare sector in the majority of European Member States.
The global hospital beds market was valued at US$ 3.1 billion in 2017 and is expected to witness a robust CAGR of 6.2% over the forecast period (2017 - 2025).
Market players are developing advance technological beds that provide safety and comfort to the patient when admitted. For instance, Hill-Rom have developed advanced bariatric care, The Compella Bariatric Bed, which provides the latest advancement in bariatric care and it also provides safety, which helps to overcome barriers to streamline workflow. Stryker’s InTouch, a critical care bed is the first high acuity care bed, which provide advance technology, back smart ergonomics, and control all bed functions with an easy operating touch screen interface.
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Key Takeaways of the Hospital Beds Market:
The global hospital beds market is expected to exhibit a CAGR of 23% over the forecast period (2017 – 2025), owing to the presence of high potential markets, especially in Asia Pacific, Latin America, the Middle East, and Africa.
Technology advancement in hospital beds and advance technical feature are expected to drive the growth of global hospital bed market.
Based on application segment, intensive care beds segment is expected to account major market share due to increasing prevalence of chronic disease and growing ageing population, in turn driving the growth of medical beds market required in intensive care units.
Based on the end user, the hospital segment is expected to account for largest market share, due to the increase the prevalence of chronic disease.
Some major players operating in the hospital beds market include Stryker Corporation, Hill-Rom Holdings, Inc., Getinge AB, Invacare Corporation, Medline Industries, Inc., Linet Spol. S.R.O., Stiegelmeyer GmbH & Co. Kg, Antano Group S.R.L, Amico Corporation, and Midmark Corporation.
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