USD 1.81 billion
Report ID:
SQMIR35B2196 |
Region:
Regional |
Published Date: February, 2024
Pages:
157
|Tables:
144
|Figures:
70
European Hospital Beds Market was valued at USD 2.12 billion in 2022, and is poised to grow from USD 2.20 billion in 2023, to USD 3.017 Billion by 2031 at a CAGR of 4% during the forecast period (2024-2031).
Hospital beds have a number of features that can help the patient with positioning in addition to security and convenience for quick recovery. During the forecast timeframe, the Europe hospital beds market will be motivated by an increase in the elderly population and an escalation in the incidence of chronic diseases. The growth in the number of patients admitted to hospitals is encouraging market growth. Because the seniors are more susceptible to chronic illnesses and require round-the-clock care, they have decided to utilize home care services, which are inevitably promoting European market growth. In Europe, the rising trend in cardiac problems, bone fractures, and spine fractures is positively influencing the market.
The COVID-19 pandemic had a detrimental effect on Europe's health system. However, the European hospital bed market made some money during the forecast period. The pandemic had caused a surge in hospital bed demand in European countries. As the number of COVID-19 cases increased, the government began constructing new hospitals to treat COVID-19 patients, which boosted the market. Furthermore, patients are afraid of staying in hospitals after surgery due to COVID-19, so patients began using hospital beds at home, fuelling the European hospital beds market.
European Hospital Beds Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 1.81 billion
Largest Segment
Curative care
Fastest Growth
Curative care
Growth Rate
4% CAGR
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The European hospital beds market is segmented based on the product, area of use, type of care, technology, end-user, and region. Based on product, European Hospital Beds Market is segmented into hospital/medical beds, and accessories. Based on area of use, the European Hospital Beds Market in Europe is segmented into critical care, long-term care, med-surg, homecare, and others. Based on type of care, the European Hospital Beds Market in Europe is bifurcated into long-term care, curative care, rehabilitative care. Based on technology, the European Hospital Beds Market in Europe is bifurcated into powered beds, and manual beds. Based on the end-user, the market is categorized as hospitals, home care settings, elderly care settings. Based on region, European Hospital Beds Market is categorized into Europe (Russia, France, Germany, U.K., Italy, and others).
European Hospital Beds Market Analysis by area of use
Based on area of use, hospital beds market in Europe is segmented into critical care, long-term care, med-surge, homecare, and others. The costs associated with treating chronic diseases are increasing at an alarming rate. As a result, in recent times, the emphasis has moved to the deployment of convenient and cost-effective health care facilities. For example, the French government initiated a campaign in January 2017 to expand the recruitment of primary caregivers for home healthcare, with the objective of creating 300,000 employment opportunities by 2030. Correspondingly, as reported by the World Bank, long-term care expenditures in Poland are steadily rising and are predicted to hit PLN 24,000 million by 2050. This upsurge in long-term care spending is a good sign for the hospital beds market's in-home care/long-term care segment.
European Hospital Beds Market Analysis by type of care
Based on the type of care, the hospital beds market in Europe is bifurcated into long-term care, curative care, rehabilitative care. The curative care commanded the largest share of the European medical/hospital beds market in 2017 as a consequence of a steadily rising inpatient population at health facilities caused by old age, chronic and contagious diseases, and physical injuries.
The long-term care market, on the other hand, is predicted to expand rapidly during the forecast period. The growing older population with chronic conditions, as well as beneficial regulatory measures, are positively influencing this segment's growth.
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An assessment of the quantity of hospital beds in direct proportion to population demonstrates that there were 538 per 100 000 inhabitants on average across the EU-27 in 2018.
Germany seemed to have the highest number of hospital beds (661 000; 2017 data), in addition to the highest number in terms of population size, with 800 hospital beds per 100 000 inhabitants. Bulgaria, Austria, and Hungary likewise had more than 700 hospital beds per 100 000 inhabitants, with Romania just below this level. Ireland (with the exception of psychiatric care beds and beds in the private health sector), Spain, Denmark, and Sweden used to have the lowest number of hospital beds per capita in 2018.
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European Hospital Beds Market Drivers
Rising Statistics of Chronic Illness to Boost Demand for Hospital Beds in Europe
European Hospital Beds Market Restraints
High Cost and Low Access to Hinder Market Growth
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The European hospital beds market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
European Hospital Beds Market Top Player's Company Profiles
European Hospital Beds Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our European hospital beds market analysis, government initiatives in respective countries in the region in order to provide necessary facilities to patients through the introduction of novel solutions for better healthcare are fuelling the European hospital bed market growth during the anticipated time frame. However, the decline in the number of beds in private hospitals is impeding the expansion of the market over the period.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 2.12 billion |
Market size value in 2031 | USD 3.017 Billion |
Growth Rate | 4% |
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 |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the European 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 European 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.
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With the given market data, our dedicated team of analysts can offer you the following customization options are available for the European Hospital Beds Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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Report ID: SQMIR35B2196