In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Hospital Beds Market Report
The global hospital beds market size is expected to grow at a CAGR of over 6% during the period 2019–2025.
With the outbreak of the COVID-19 pandemic, hospital admissions across the world are growing at an alarming rate, which is fueling the demand for hospital beds. The pandemic has affected more than 200 countries, with around 2 million infected across the globe. The number is growing at a rapid rate. Developed countries such as the US, France, Germany, Spain, and Italy with standard healthcare infrastructure are the worst hit with high infection and mortality rates. The hospital bed US market is witnessing a scarcity of beds due to the increase in coronavirus cases, which have increased admissions in the region. As the infection is highly contagious, patients need to be kept in isolation medical wards that are increasing the demand for medical beds. As the destruction caused by the virus has been growing unabatedly since its eruption, healthcare facilities are using advanced medical facilities for critically ill patients to monitors vital signs, provide mobility and comfort to the patient population, which is expected to drive the demand for hospital beds during the forecast period.
The following factors are likely to contribute to the growth of the hospital beds market during the forecast period:
- Increasing Demand for Hospital Beds in Home Care Settings
- Surge in Hospital Beds from COVID-19 affected Countries
- Favorable Government Initiatives & Establishment of New Hospitals
The study considers the present scenario of the hospital beds market and its market dynamics for the period 2019?2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The study offers both the demand and supply aspect of the market. It profiles and examines leading companies and other prominent companies operating in the market.
HOSPITAL BEDS MARKET SEGMENTATION
The hospital beds research report includes detailed market segmentation by product, application, care, end-user, and geography. The electrical hospital beds market is dominating and growing at a significant rate during the forecast period. One of the major reasons for the growth of the segment is the outbreak of the COVID-19 pandemic, which is boosting the demand to treat critically ill patients. Patients suffering from mobility challenges are increasingly using full-electrical hospital beds. Also, the availability of quick assistance with smart features is driving the demand in medical emergency rooms. While there is a surge in efforts to revamp the healthcare sector across the world, the development of increasing multi-specialty and private hospitals is aiding the demand for full-electric models as they are equipped with advanced easy handling features.
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. With the rise in admissions in critical care settings/ICUs, healthcare facilities across the world are prioritizing to increase the number of ICU beds. This segment accounted for a 73% share in the growth of the hospital beds market in 2019. As the world is struggling to respond to the COVID-19 pandemic, the virus has already pushed medical centers capacity to the breaking point in many countries. The availability of ICU beds varies substantially across countries, ranging from less than 1 to greater than 30 per 100,000 people. The French market is one of the major end-users in the European intensive care market on account of the growing elderly population and the increasing target patient population. Also, the smart hospital beds market size is witnessing an increase in the growing popularity of smart homes.
The curative segment accounted for 78% of the hospital bed market value in 2019. The increasing cancer prevalence is increasing hospital admissions, which in turn is boosting the demand for specialized beds in curative settings. Curative care aims to cure the patient and not reduce pain, discomfort, or anxiety. Also, curative care includes the treatment for bacterial infections, radiation therapy for cancer, cast for a broken limb, dialysis treatment, which require specialized hospital bed mattress, thereby increasing the preference for smart and automated models.
The availability of skilled healthcare professionals with knowledge and expertise in handling specialized hospital beds is driving the demand in the hospital segment. In Addition to it, the accessibility to advanced equipment in the intense care units and emergency departments, coupled with the increasing chronic disease prevalence globally, is also driving the demand. The home healthcare segment is experiencing growth due to the increasing elderly population, and other patient community that opts for home healthcare settings. The increasing facility of free hospital beds for elderly population is boosting the demand for home healthcare systems, as these patients require regular medical assistance.
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
- ·Psychiatric care beds
- ·Palliative Care Beds
Market Segmentation by End-user
- Home Healthcare Settings
- Nursing Homes
- ·Ambulatory Settings
- ·Academic Institutes
- ·Rehabilitation Centers
Insights by Geography
The market dominance of Europe is majorly due to the rising incidence of chronic diseases and the improvement in the healthcare infrastructure. The region is 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 an increase in admissions, healthcare providers need a wide range of offerings ranging from ICU, general ward, home care, and rehabilitation & psychiatry beds. The North American region is majorly driven on account of the increase in the elderly population, moderate increase in the ICU admission, and availability of advanced technology for remote patient monitoring, and advanced home care technology. China is the most prominent market in the APAC region. The country is the major revenue contributor due to the presence of a large pool of patients that use technologically advanced hospital beds. Factors such as improvement in living standards, the prevalence of chronic ailments, and the growth in cardiovascular diseases in India and China are likely to boost hospital admissions.
Market Segmentation by Geography
- North America
- ·South Korea
- Latin America
- ·South Africa
- ·Saudi Arabia
INSIGHTS BY VENDORS
The global hospital beds market is moderately fragmented. Large corporations dominate the industry; however, there are significant growth opportunities for new entrants. Several investigational and small med-tech companies are entering the industry with their innovative products and technology. The market offers tremendous growth opportunities for existing as well as emerging market players due to the presence of a large pool of patients with chronic diseases. These hospital bed companies have a wide geographical reach, diversified product portfolio, and a strong focus on innovation and research activities. Stryker hospital bed market share is likely to increase as the company has taken a few measures/initiatives to enhance the supply chain and increase production capabilities due to the outbreak of COVID-19.
- Paramount Bed Holdings
- Medline Industries
- LINET spol
- Hill-Rom Holdings
- Stiegelmeyer Group
- Savion Industries
- Favero Health Projects
- Joerns Healthcare
- Malvestio Group
- Famed ?ywiec
- Antano Group
- HEBEI PUKANG MEDICAL INSTRUMENTS
- Sichuan Yufeng Medical Equipment
- Jiangsu Saikang Medical Equipment
- Zhangjiagang Medi Medical Equipment
- PROMA REHA
- Besco Medical
- Missaglia Spa
- JMS - Mobili?rio Hospitalar
- Tenko Group
- Timo d.o.o.
- Guangdong Kareway Medical Technology
- BiHealthcare (Zhangjiagang Braun Industry)
- WUJIANG EVERGREEN EX/IM
- Strongman Medline
- Ningbo Hecai Medical Equipment
- Jiangsu Aegean Medical Group
- Dixion Vertrieb medizinischer Ger?te
- Joson-Care Enterprise
- HI-LIFE TECHNOLOGY
- Hopefull Medical Equipment
Key Market Insights
The hospital beds market report provides sizing and growth opportunities for the period 2019–2025.
- Offers size of hospital beds market and growth prospects for the forecast period 2020–2025.
- Provides comprehensive insights on the latest industry trends, forecast, and growth drivers in the market.
- Includes insights on the hospital bed market analysis, growth drivers, challenges, and investment opportunities.
- Delivers a complete overview of segments and the regional outlook of the market.
- Offers an exhaustive summary of the vendor landscape, competitive analysis, and key market strategies to gain a competitive advantage in the market.