The global hospital beds market size is expected to grow at a CAGR of over 6% during the period 2019–2025.
CHICAGO, ILLINOIS, UNITED STATES, May 25, 2020 /EINPresswire.com/ — Hospital beds market size is expected to grow at a CAGR of over 6% during the period 2019−2025. This market research report includes data-driven and deep market insights on the impact of COVID-19 across geographies, segments, and vendor landscape. Leverage Arizton's market analysis to take real-time strategic business decisions and enhance your product portfolios.
Key Highlights Offered in the Report:
1. The emergence of advanced technology beds like robotic assisted hospital beds is one of the trends boosting the market growth with a mid-single digits CAGR.
2. In 2020, the hospital beds market accounted for a growth rate of around 93%, this is due to the outbreak of COVID-19 pandemic situation that is increasing hospital admission and is rising the demand for hospital beds globally.
3. The full-electric hospital bed is growing at an incremental value of around $620 million, that is nearly five-fold higher incremental growth than the manual hospital beds.
4. According to Arizton’s market research global hospital bed market is likely to witness around $1,300 million incremental growth during the forecast period.
5. In 2019, Europe dominated the hospital bed market with a revenue of over $890 million.
6. Long-term beds sub-segment is growing at an absolute growth of around 55%, which is more than the global hospital bed market’s absolute growth.
• Market Size & Forecast by Revenue | 2019−2025
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation – A detailed analysis by product, application, care, end-user, and geography
• Competitive Landscape – Profile of 8 key vendors and 35 other vendors
Hospital Beds Market – Segmentation
• The rise in chronic diseases is boosting the semi-electric segment. The increasing preference for home healthcare services for the elderly population is a key driver for the growth of manual beds. Home healthcare facilities use hospital type beds, aids in maintaining, promoting, and restoring the health of individuals.
• As hospital ICU beds are growing at a faster CAGR than non-intensive ones, the latter segment is likely to maintain its dominance during the forecast period. However, the tremendous growth opportunities for intensive care beds can be attributed to the increasing prevalence of chronic diseases and patient admissions in critical care settings.
• The prevalence of chronic diseases worldwide is increasing the demand for this segment. They are experiencing high adoption in several elderly home settings and homecare centers, where patients require long-term treatment. Invacare hospital beds offer exclusive facilities for home care and long-term care settings.
Market Segmentation by Product
• Full-Electric Beds
• Semi-electric Beds
• Manual Beds
Market Segmentation by Application
• Intensive Care Beds
• Non-intensive Beds
Market Segmentation by Care
o Psychiatric care beds
o Palliative Care Beds
Market Segmentation by End-user
• Home Healthcare Settings
• Nursing Homes
o Ambulatory Settings
o Academic Institutes
o Rehabilitation Centers
Hospital Beds Market – Dynamics
The hospital beds are available in different types for use in various departments such as emergency departments, critical care departments (ICU), and other general wards as per the requirement. The beds used in general wards are different from those that are used in ICU and in other wards. The ICU beds are well equipped with accessors such as X-Ray cassette holder, section mattress base, and stepless pneumatic adjustment that are designed to support and assist the healthcare staff for effective workflow. Also, smart beds are used in ICU, as these smart beds have features such as monitors for tracking vital signs, bed exit alarm, among others, which helps in recording the patient’s medical data. These ICU beds are fully electric and have a battery backup in case of a power cutoff that providers quality care and comfort to the patient population. In response to the sudden outbreak of the Covid-19 pandemic, many countries are taking drastic steps to increase the hospital capabilities with the ICU beds.
Key Drivers and Trends fueling Market Growth:
• Increasing Demand for Hospital Beds in Home Care Settings
• Growing Demand for Hospital Beds in LMICs
• Favorable Patient Demographics Coupled with Increase in Patient Admissions
• Technological Advancements in Hospital Beds
Hospital Beds Market – Geography
The market dominance of Europe is majorly due to the rising incidence of chronic disease and an increase in the improvement of healthcare infrastructure. For instance, there are more than 50 million people in Europe having more than one chronic disease. The region is also witnessing an increase in the average life expectancy rate, which is fueling the rise in the prevalence of various diseases, thereby contributing to the increase in hospital admissions. Owing to a rise in hospital admissions, healthcare providers need a wide range of hospital beds ranging from ICU beds, general ward beds, and home care beds to rehabilitation & psychiatry beds.
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Market Segmentation by Geography
• North America
o South Korea
• Latin America
o South Africa
o Saudi Arabia
• Paramount Bed Holdings
• Medline Industries
• LINET spol
• Hill-Rom Holdings
• Stiegelmeyer Group
Other vendors include – Gendron, Savion Industries, Favero Health Projects, Joerns Healthcare, Malvestio Group, MESPA, Famed Żywiec, Antano Group, HIDEMAR, HEBEI PUKANG MEDICAL INSTRUMENTS, Sichuan Yufeng Medical Equipment, Jiangsu Saikang Medical Equipment, Zhangjiagang Medi Medical Equipment, PROMA REHA, Besco Medical, Missaglia Spa, JMS – Mobiliário Hospitalar, Tenko Group, Timo d.o.o., Guangdong Kareway Medical Technology, BiHealthcare (Zhangjiagang Braun Industry), HOSPIMETAL, WUJIANG EVERGREEN EX/IM, Strongman Medline, Span-America, Ningbo Hecai Medical Equipment, Jiangsu Aegean Medical Group, NITROCARE, Dixion Vertrieb medizinischer Geräte, Joson-Care Enterprise, HI-LIFE TECHNOLOGY, and Hopefull Medical Equipment.
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Source: EIN Presswire