Hospital beds are used for patients in medical facilities for treatment and recovery. They provide comfort, support, and safety to patients during medical procedures or hospitalization. Specialty beds offered features like adjustable positions, bed railings, integrated scales, and assisted lifting capabilities catering to various patient needs. The demand for enhanced beds is increasing with rise in chronic diseases and geriatric population globally. The global Hospital Beds Market is estimated to be valued at US$ 4,151.09 Mn in 2023 and is expected to exhibit a CAGR of 6.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The preference for specialty beds among healthcare facilities and patients has increased tremendously over the years. Beds equipped with advanced features help medical staff provide improved care and assistance. They also aid in faster recovery of patients. This has propelled leading manufacturers to offer a wide range of specialty beds with customizable options. Furthermore, growth in home healthcare services have also fueled demand for beds suitable for home care needs. Rising investments by hospitals to enhance patient experience and offer quality services are further expected to drive the specialty hospital beds market during the forecast period.
Segment Analysis
The global hospital beds market is segmented by type into manual hospital beds, electric hospital beds and specialty hospital beds. Among these, the electric hospital beds segment holds the dominating market share and is expected to witness high growth during the forecast period. Electric hospital beds are autonomous and can be remotely operated with the help of buttons or switches which provide convenience to the patient, healthcare providers and visitors. The rising demand for comfort, flexibility and adaptability coupled with growing geriatric population globally has increased the adoption of electric and specialty hospital beds across hospitals and healthcare facilities.
Key Takeaways
The global hospital beds market is expected to witness high growth during the forecast period of 2023 to 2030.
Regional analysis: North America currently dominates the global hospital beds market and is expected to maintain its leading position during the forecast period as well. This is attributed to rising chronic diseases, developing healthcare infrastructure and increasing healthcare spending in the region. The presence of leading players and advanced healthcare facilities have further strengthened the market growth.
Key players operating in the hospital beds market are Stryker, Hill-Rom Holdings, Inc., Getinge AB, Invacare Corporation, Medline Industries, Inc., LINET., EarlySense, Max Healthcare, Eqova Healthcare, Compass Health Brands, Stiegelmeyer GmbH & Co. Kg, Antano Group S.R.L, Amico Corporation, and Midmark Corporation. The players are focusing on new product launches, partnerships and mergers to expand their market share and presence.
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