USD 3.07 billion
Report ID:
SQMIG35A2672 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
59 |
Figures:
75
Hospital Beds Market size was valued at USD 3.07 billion in 2021 and is poised to grow from USD 3.3 billion in 2022 to USD 6.33 billion by 2030, growing at a CAGR of 7.5% during the forecast period (2023-2030).
Global Hospital Beds Market encompasses the industry involved in the production, distribution, and sales of beds specially designed for use in healthcare facilities, including hospitals, clinics, and nursing homes. Various factors contribute to the demand for hospital beds, such as the increasing global population, the prevalence of chronic diseases, the growing elderly population, and advancements in healthcare infrastructure. These beds are essential for patient care, providing comfort, support, and safety to individuals requiring medical attention and extended stays in healthcare settings. The market offers a wide array of hospital beds, including general beds, specialized beds, intensive care unit (ICU) beds, bariatric beds, pediatric beds, and maternity beds. These beds are designed with specific features to cater to the unique requirements of patients based on their medical conditions, age, and mobility. To summarize, the market is a critical sector within the healthcare industry, driven by the need for high-quality patient care and advancements in medical technology. The market continues to evolve, aiming to improve patient outcomes, optimize healthcare delivery, and enhance the overall hospital experience.
US Hospital Beds Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 3.07 billion
Largest Segment
Hospitals
Fastest Growth
Hospitals
Growth Rate
7.5% CAGR
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Global Hospital Beds Market is segmented by technology, end-user, and region. Based on Technology, the market can be segmented into powered beds and manual beds. Based on end-user, the market is segmented into hospitals and ambulatory surgical centers. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Hospital Beds Market Analysis by Technology
By Technology, the market can be segmented powered beds and manual beds. Powered beds segment is the dominating segment in the market. Powered beds offer advanced features and functionalities, making them the preferred choice in healthcare facilities. These beds are equipped with electric controls, allowing for easy adjustment of bed positions, height, and other settings. Powered beds provide convenience, enhanced patient comfort, and improved caregiver efficiency. The rising demand for technologically advanced beds, especially in developed regions, drives the dominance of powered beds in the market.
While manual beds segment is experiencing significant growth and is the fastest-growing segment. Manual beds are operated using manual controls and adjustments, without the use of electric or motorized components. These beds are cost-effective and simpler in design compared to powered beds. The growth of the manual beds segment can be attributed to various factors. In developing regions with limited healthcare budgets and infrastructure, manual beds are often more affordable and accessible options.
Hospital Beds Market Analysis by End-User
By end-user, the market can be segmented into hospitals and ambulatory surgical centers. The hospital segment dominated the Hospital Beds market. Hospitals are the primary end-users of hospital beds, accounting for the largest share in the market. This dominance can be attributed to several factors. Hospitals are major healthcare institutions that provide a wide range of medical services and patient care, requiring a significant number of beds to accommodate patients with varying healthcare needs. The demand for hospital beds in this segment is driven by factors such as the increasing number of hospitals worldwide, growing patient admissions, and the rising prevalence of chronic diseases requiring hospitalization.
Ambulatory Surgical Centers (ASC) segment has emerged as the fastest-growing segment in the Hospital Beds market. ASCs are healthcare facilities that focus on providing outpatient surgical procedures and services. These centers offer a more convenient and cost-effective alternative to traditional hospital settings for certain surgical procedures that do not require overnight stays. The demand for hospital beds in ASCs is growing due to factors such as the rising number of ASCs globally, advancements in minimally invasive surgeries, and the increasing shift towards outpatient care. ASCs provide a favorable environment for faster recovery and reduced healthcare costs, driving the adoption of beds specifically designed for ambulatory surgical settings.
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North America dominates the global Hospital Beds market. The region has a well-established healthcare infrastructure, high healthcare expenditure, and a significant presence of key market players. North America's dominance can be attributed to factors such as the growing elderly population, the increasing prevalence of chronic diseases, and the adoption of advanced healthcare technologies. Additionally, government initiatives to improve healthcare facilities and reimbursement policies further support the market growth in this region.
Asia Pacific is expected to be the fastest growing region in the global Hospital Beds market. The region has been witnessing rapid economic growth, increasing healthcare investments, and a rising population with a growing middle class. The demand for hospital beds in Asia Pacific is fueled by factors such as the increasing prevalence of chronic diseases, improving healthcare infrastructure, and a growing awareness of advanced medical treatments. Asia Pacific's market growth is further driven by factors like the increasing number of hospitals and healthcare facilities, government initiatives to enhance healthcare accessibility, and the growing adoption of advanced technologies in healthcare. Additionally, the region's expanding medical tourism industry and the rising geriatric population contribute to the demand for hospital beds.
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Hospital Beds Market Drivers
Growing Aging Population and Government Initiatives and Investments
Hospital Beds Market Restraints
High Cost of Advanced Beds
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Competition within the hospital beds market is intense, with numerous manufacturers and suppliers operating on a global scale. Major players in the industry strive to develop innovative and technologically advanced hospital beds that enhance patient comfort, facilitate efficient healthcare delivery, and ensure caregiver safety. Additionally, manufacturers prioritize factors such as durability, ease of maintenance, infection control measures, and ergonomic design.
Hospital Beds Market Top Player’s Company Profiles
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 by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Hospital Beds Market analysis, the market is a vital industry encompassing the production, distribution, and sales of beds for healthcare facilities worldwide. These beds provide comfort, support, and safety for patients requiring medical attention. Factors driving the demand for hospital beds include population growth, chronic diseases, an aging population, and healthcare infrastructure advancements. The market offers various types of beds, tailored to meet the specific needs of patients based on their medical conditions, age, and mobility. Key players in the industry focus on innovation and technology, aiming to enhance patient comfort, healthcare delivery, and caregiver safety. The market is competitive, with manufacturers prioritizing durability, maintenance ease, infection control, and ergonomic design. Geographically, the market spans regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa, each influenced by factors like healthcare expenditure and government policies.
Report Metric | Details |
---|---|
Market size value in 2021 | USD 3.07 billion |
Market size value in 2030 | USD 6.33 billion |
Growth Rate | 7.5% |
Base year | 2023 |
Forecast period | 2023-2030 |
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 Global 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 Global 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.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Hospital Beds Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Hospital Beds Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
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Product ID: SQMIG35A2672