Hospital Beds Market Overview
As per the reports by MRFR, the hospital beds market is anticipated to exhibit a robust CAGR of 5.5% during the review period. The global market is growing rapidly and is likely to acquire a market size of over USD 4,824.2 Million by 2023.
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Hospital beds enable body positioning, which is not achievable in a regular home bed. Hospital beds are vital inventory in a hospitals’ capacity to hospitalize patients and treat them in the best possible means. The global market for hospital beds is projected to record healthy growth over the review timeframe owing to several beneficial features it provides. The increase in acute diseases is anticipated to alter the need to maintain a sufficient reserve of beds for patients in a mass calamity like a pandemic or natural disaster. Hospital beds are specifically manufactured for hospitalized patients who need some health care facility.
The global hospital beds market has experienced substantial growth, owing mainly to the surge in chronic diseases such as diabetes, cancer, and cardiovascular diseases among populations of all ages. Furthermore, the factors such as enhancement in ambulatory systems and hospitals, a growing geriatric population worldwide, and a surge in emergency hospital visits due to higher disposable income and better insurance coverage are projected to fuel the growth of the hospital beds market globally. However, the market’s growth is anticipated to be hampered by high procurement costs coupled with advanced beds. Nevertheless, the technological advancements, mounting resources for research & development, and intensifying healthcare spending are anticipated to offer market players several lucrative opportunities in the forecast timeframe.
Hospital Beds Market Segment Analysis
The global hospital beds market is bifurcated into several segments based on end-user, power, type, and region.
The market is classified into psychiatric and bariatric care, long-term care, and acute care based on type.
By power, the market classification is done as manual beds, semi-electric beds, and automatic beds.
Based on end-user, the hospital beds market is divided into clinics., hospitals, and ambulatory clinics.
Hospital Beds Market Regional Analysis
The global market for hospital beds is studied across five major reasons, including North America, Asia-Pacific, South America, Europe, and the Middle East Africa.
The European region dominates the hospital beds market globally given the factors like intensifying government backing, a sophisticated healthcare sector, and elevated healthcare expenditure, promising reimbursement strategies. The regional market exhibits a CAGR of 5.5% throughout the assessment timeframe, with the UK market playing a vital part.
The North American region holds the second position in the hospital market globally, with Asia-Pacific being a tough competitor for the rank. The regional market’s growth is primarily being driven by the aspects like growing to finance in research & development in healthcare, enormous geriatric inhabitants, and sophisticated healthcare structure.
The Asia-Pacific is the fastest-growing region in the global hospital beds market, with a robust CAGR of 5.9% during the review timeframe. The factors like the rapidly growing number of hospitals, the prevalence of an immense population base with the communal geriatric population, and increasing government support for research & development are anticipated to fuel the growth of the regional market for hospital beds. Additionally, consistent improvement in hospitals is also anticipated to catalyze market growth in the coming years.
Hospital Beds Market Competitive Analysis
The global market for hospital beds has a highly intense competitive landscape with numerous market leaders spread worldwide. With growing development in the healthcare sector globally, the market players are focusing more on innovation in the hospital beds to offer patients comfort. The list of leading players in the global hospital beds market includes companies such as Linet spol. S r.o., Hill-Rom Holdings, Getinge AB, Paramount Bed Holdings Co., Ltd., Stryker Corporation, Gendron Inc., Invacare Corporation, and others.
Recent Developments
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