Hospital Beds Market size is set to grow by USD 2.31 billion from 2024-2028, Rise in infectious diseases boost the market, AI Role and Impact, Technavio

NEW YORK, Aug. 22, 2024 /PRNewswire/ -- The global hospital beds market size is estimated to grow by USD 2.31 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of about 9.35% during the forecast period. Rise in infectious diseases is driving market growth, with a trend towards rising number of medical emergencies. However, high cost of automated hospitals beds poses a challenge. Key market players include Agiliti Inc., Amico Group of Companies, ANTANO GROUP S.R.L., Baxter International Inc., Besco Medical Ltd., Getinge AB, GF Health Products Inc., Invacare Corp., Joerns Healthcare LLC, Lojer Oy, Malvestio Spa, Medline Industries LP, PARAMOUNT BED HOLDINGS CO. LTD., Savaria Corp., Savion Industries, Stiegelmeyer GmbH and Co. KG, Stryker Corp., and Taleb Medical.

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              Hospital Beds Market Scope



       Report Coverage                          
     Details



       Base year                                                                                                                                                                                                                     2023



       Historic period                          
     2018 - 2022



       Forecast period                          
     2024-2028



       Growth momentum & CAGR                                                                                                                                                                               Accelerate at a CAGR of 9.35%



       Market growth 2024-2028                  
     USD 2313.5 million



       Market structure                         
     Fragmented



       YoY growth 2022-2023 (%)                                                                                                                                                                                                     8.34



       Regional analysis                        
     Europe, North America, Asia, and Rest of World (ROW)


        Performing market contribution                                                                                                                                                                                         Asia at 44%



       Key countries                            
     US, UK, Germany, Canada, China, and India



       Key companies profiled                     Agiliti Inc., Amico Group of Companies, ANTANO GROUP S.R.L., Baxter International Inc., Besco Medical Ltd., Getinge AB, GF Health Products Inc., Invacare Corp., Joerns Healthcare LLC,
                                                    Lojer Oy, Malvestio Spa, Medline Industries LP, PARAMOUNT BED HOLDINGS CO. LTD., Savaria Corp., Savion Industries, Stiegelmeyer GmbH and Co. KG, Stryker Corp., and Taleb Medical

Market Driver

Healthcare facilities are enhancing their emergency preparedness to address the rising number of medical emergencies caused by various factors, including outdoor and industrial accidents, wars, fire breakouts, and natural calamities. The demand for hospital beds is surging due to the increasing prevalence of life-threatening conditions such as stroke, heart attack, and organ failure. In response, hospitals and emergency centers are upgrading their intensive care, critical care, acute care, and surgical treatment facilities. They are investing in advanced equipment like electric and automated hospital beds to provide superior patient care and safety. Automated beds, which can be adjusted near the head and legs of patients, are particularly popular in intensive care units. Semi-automated beds are suitable for acute care facilities, while manual beds are preferred for long-term care in hospitals and home care settings. The expansion of emergency departments to cater to the increasing medical emergencies is fueling the demand for hospital beds. Manufacturers are meeting this demand by increasing production volumes, driving the growth of the global hospital beds market during the forecast period.

The Hospital Beds market is witnessing significant growth due to the increasing prevalence of chronic diseases like diabetes, cancer, and cardiovascular diseases (CVDs) among older adults. Hospitals and ambulatory care centers are the major consumers of hospital beds, with ICUs and long-term care facilities also being key markets. Mental hospitals and home healthcare services are also increasing their use of hospital beds. New product releases in the market include electric, semi-electric, and manual beds, as well as smart beds with respiration rate monitoring. The market is driven by healthcare spending, the aging population, and the prevalence of chronic illnesses. Companies are expanding their product portfolios to cater to acute care, psychiatric & bariatric care, and therapy choices. Investments in the hospital beds market are being driven by medical tourism and the casket business, as well as medical equipment divisions. Vital-sign bed sensors, such as those offered by EarlySense, are becoming increasingly popular. Surgical instruments and navigation systems are also important components of hospital bed systems. Overall, the market is expected to continue growing due to the increasing demand for healthcare services and the rising prevalence of chronic diseases.

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Market Challenges

    --  The regulatory environment for hospital beds manufacturing is stringent
        in various countries, leading manufacturers to invest heavily in meeting
        quality and operational standards. This increases production costs,
        prompting a premium pricing strategy. For instance, automated hospital
        beds in the US cost between USD800 and USD2,000, while other players
        offer products at USD500 and above. Weak distribution channels in rural
        markets, operated by local suppliers, increase costs due to lower order
        values and consumption volumes. High product prices are affordable for
        customers in developed markets but are a barrier for consumers in
        underdeveloped markets, where government regulations on supply and
        distribution are crucial. This limits product penetration and
        consumption volume in developing markets, posing a challenge to the
        hospital beds market's growth during the forecast period.
    --  The Hospital Beds market faces several challenges in various sectors. In
        Psychiatric & Bariatric Care, meeting unique patient needs requires
        diverse product offerings, including Electric, Semi-Electric, and Manual
        beds. Clinics and Ambulatory settings demand cost-effective solutions
        for Therapy choices. Patient knowledge about bed types and features is
        essential. Electric and Semi-Electric beds offer advanced comfort and
        mobility, while Manual beds cater to budget-conscious buyers. Smart beds
        with Respiration rate monitoring are in demand due to chronic illnesses
        like diabetes prevalent in the aging population and healthcare spending.
        The Medical Tourism market seeks affordable, high-tech solutions. New
        product releases, investments in product portfolios, and partnerships
        drive growth. The Casket business and Medical Equipment division
        collaboration presents opportunities. Vital-sign bed sensors from
        companies like EarlySense enhance patient safety. Surgical instruments,
        navigation systems, and patient handling equipment are crucial for
        emergency medical equipment. Neurosurgical, neurovascular, spinal
        devices, and COVID-19 patient care solutions are priority areas.
        Neurovascular and spinal devices cater to the growing need for neuro
        care. Electric beds, Semi-Electric beds, and Manual beds cater to
        various market segments. The market is dynamic, driven by chronic
        illnesses, aging population, and technological advancements.

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Segment Overview

This hospital beds market report extensively covers market segmentation by

    1. Product
        --  1.1 Manual beds
        --  1.2 Semi-automated beds
        --  1.3 Automated beds
    2. Application
        --  2.1 Intensive care
        --  2.2 Acute care
        --  2.3 Home care
    3. Geography
        --  3.1 Europe
        --  3.2 North America
        --  3.3 Asia
        --  3.4 Rest of World (ROW)

1.1 Manual beds- The Hospital Beds market is growing due to increasing healthcare expenditures and an aging population. Hospitals require a large number of beds to accommodate patients, leading to a high demand for this product. Manufacturers focus on producing comfortable and durable beds to meet the needs of healthcare facilities. Additionally, advancements in technology have resulted in the production of adjustable beds, providing better patient care and comfort. The market is expected to continue growing, offering significant opportunities for businesses involved in its production and distribution.

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Research Analysis

The Hospital Beds market encompasses a wide range of beds designed for various healthcare settings, including hospitals, ambulatory care centers, mental hospitals, and home healthcare services. The market is driven by the increasing prevalence of chronic diseases, particularly noncommunicable diseases (NCDs) such as diabetes, cancer, and cardiovascular diseases, which require extended care. Acute care hospitals and ICUs utilize electric hospital beds for intensive patient care, while long-term care facilities cater to older adults with chronic conditions. Additionally, psychiatric and bariatric care centers require specialized beds to accommodate unique patient needs. The market also includes ambulatory beds for use in outpatient settings and electric beds for home healthcare services. Acquired immunodeficiency syndrome (AIDS) patients may also require specialized hospital beds for their care.

Market Research Overview

The Hospital Beds market encompasses a wide range of bed types used in various healthcare settings, including hospitals, ambulatory care centers, mental hospitals, and home healthcare services. With the increasing prevalence of chronic diseases such as Acquired Immunodeficiency Syndrome (AIDS), Cancer, Cardiovascular Diseases (CVDs), and Noncommunicable Diseases (NCDs), the demand for hospital beds, particularly ICU beds, is on the rise. Older adults, who are more susceptible to chronic illnesses, also contribute significantly to the market's growth. The market caters to various therapy choices, including Acute Care, Long-Term Care, Psychiatric & Bariatric Care, and includes Electric, Semi-Electric, Manual, Smart beds, and beds with respiration rate monitoring. The market is influenced by healthcare spending, the elderly population, and chronic illness prevalence. New product releases, investments, and product portfolios of medical equipment divisions are key drivers. The market also includes casket businesses and providers of surgical instruments, navigation systems, patient handling, emergency medical equipment, neurosurgical devices, neurovascular devices, and spinal devices. The COVID-19 pandemic has further boosted the demand for hospital beds for virus carriers and patients.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

    --  Product
        --  Manual Beds
        --  Semi-automated Beds
        --  Automated Beds
    --  Application
        --  Intensive Care
        --  Acute Care
        --  Home Care
    --  Geography
        --  Europe
        --  North America
        --  Asia
        --  Rest Of World (ROW)

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio