The global medical bed market size is estimated to witness an exponential growth in the future, with increasing healthcare expenditure across both developed and developing regions. A massive geriatric population base is likely to propel the demand for medical furniture as the elderly are at a higher risk of various chronic diseases.

Rapid spread of the global COVID-19 pandemic during the first half of 2020 and an exponential rise in hospitalization rates had increased the demand for medical beds significantly. A second wave of the coronavirus outbreak has already hit several regions, including European countries, and is likely to affect many others. These trends will certainly augment the demand for medical beds in the near future.

On the basis of product, global medical bed industry is bifurcated into acute care beds, long-term care beds, bariatric care beds, psychiatric care beds, and others. Long-term care beds accounted for a market share of over US$7,826 million in 2019 and their demand is likely to grow at a CAGR of 7.6% through 2026. This can be mainly attributed to an increasing number of elderly patients suffering from various chronic diseases.

Depending upon the type of bed, global medical bed market is classified into electric beds, semi-electric beds, and manual beds. Manual medical beds captured a revenue share of nearly US$4,965 million in 2019 and their adoption is estimated to grow at an 8.2% CAGR through 2026. Manual beds are generally widely preferred across many rural regions in developing countries due to lower costs.

Global medical bed industry is segmented into intensive care and non-intensive care on the basis of applications. Non-intensive care application segment was valued at US$16,835 million in 2019 and will expand at a healthy CAGR of over 8.2% through 2026. This can be associated with rising rate of general hospitalization across women & infant units and neonatal units.

In terms of the medical institution/facility, the market is divided into private and public medical institutions. Global medical bed industry share from public medical institutions surpassed US$6,659 million in 2019 and is anticipated to grow at a CAGR of nearly 6.4% through 2026. A vast majority of patients today are likely to opt for public healthcare facilities due to lower costs and effective care.

Hospitals, elderly care facilities, and home care settings are among the different end-users of medical beds. Global medical beds market size from home care settings was valued at US$2,311 million in 2019 and the segment will witness a CAGR of over 7.2% through 2026, with a rapid expansion of the global geriatric population base. Home care settings are preferable amongst the elderly as it allows them to receive care and treatment at the comfort of their homes.

From a geographical perspective, Middle East and Africa medical bed industry size exceeded US$165 million in 2019 and will grow at a CAGR of more than 11.6% through 2026. The regional demand can be mainly attributed to increasing healthcare expenditure.