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Hospital Beds Market Worth $5.23 Billion by 2027, Growing at a CAGR of 7.8% from 2020- Pre and Post COVID-19 Market Analysis and Industry Forecasts by Meticulous Research
According to this latest publication from Meticulous Research, the medical/hospital beds market is expected to grow at a CAGR of 7.8% from 2020 to reach $5.23 billion by 2027.
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The growth in the medical/hospital beds market is mainly driven by the factors such as increasing rate of hospitalization; rising elderly population coupled with growing prevalence of chronic diseases; growing demand for beds in hospital and other healthcare settings; and sudden outbreak of infectious diseases such Ebola, COVID-19 etc. resulting into long-term care. Moreover, untapped emerging markets and launch of technologically advanced, electrically powered ‘Smart Beds’ and ‘Robotic Beds’ creates significant growth opportunities in this market.
COVID-19 – Driving Force for Hospital Beds Market
Current COVID-19 pandemic has increased the demand for advanced healthcare facilities and created a burden on healthcare industry in terms of prevention, isolation, and providing treatment to the infected patients. It started with a few deaths in Wuhan, China, with the earliest reported case on November 17th, 2019. Since then the exponential graph for the infected population has grown drastically in several other countries across the globe. Several highly infected countries such as the U.S., Italy, Spain, France, and the U.K. are experiencing shortfall for the healthcare supplies, including personal protective equipment, hospital beds, and ventilators, due to disrupted supply chain, economic loss, and reduced confidence on the quality of the imported supplies. As a result of this, there will be a huge demand for the medical/hospital beds in many countries all over the globe.
The global medical/hospital beds market study of Meticulous Research® presents historical market data in terms of value & volume (2018 and 2019), estimated current data (2020), and forecasts for 2027 - medical/hospital beds market by product (medical/hospital beds, accessories), technology (powered (electric, semi-electric), manual), type of care (curative, long term, rehabilitative), and healthcare facility (critical care unit, bariatric care unit, long-term care unit, med surg care unit, pediatric care unit, maternal care unit, and home care facility). The study also evaluates industry competitors and analyzes the market at regional and country level.
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Based on the product type, the medical/hospital beds segment accounted for the largest share of the overall market in 2019. However, the accessories segment is expected to grow at the fastest growth rate due to high demand for customized accessories for the presently installed beds; growing need to meet the gap between hospitalized patients & availability of accessories due to growing number of infectious diseases across the globe; and future demand generated out of installation of new beds.
Based on technology, the powered beds segment commanded the largest share of the overall medical beds market in 2019. The segment is also expected to witness rapid growth during the forecast period. The growth in this segment is mainly due to growing adoption of electric & semi-electric beds which can offer various benefits such as position adjustment, presence of monitoring sensors, and fall detection features, among others. These subtypes (electric & semi-electric) of powered beds are expected to contribute to its rapid growth in the coming years.
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Based on the type of care, the curative care segment commanded the largest share of the overall medical/healthcare market in 2019. Curative care attend patients with physical injuries and small surgeries; patients suffering from infectious diseases; and patients requiring continuous monitoring throughout recovery period. Greater adoption of medical beds for curative treatment of acute and chronic illnesses in hospitals is supporting the growth of this market segment. However, the long-term care segment is expected to grow with rapid CAGR during the forecast period.
Based on healthcare facility, the critical care unit segment commanded the largest share of the overall medical/hospital beds market in 2019. However, the home care facility segment is growing at the fastest growth rate due to escalating healthcare cost at the hospitals, making patients shifting from hospitals to home; and greater preference for home care by the rapidly aging population across the globe.
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This research report analyzes major geographies and provides comprehensive analysis for Europe (Russia, France, U.K., Germany, Italy, Spain, and Rest of Europe), North America (U.S., Canada), Asia-Pacific (India, China, Japan, and RoAPAC), Latin America (Mexico, Brazil, Argentina, RoLATAM), and the Middle East & Africa. Europe dominated the global medical/hospital beds market in 2019, followed by North America, and Asia Pacific. The factors such as well-established healthcare system in the region, greater adoption of advanced technologies, growing incidences & prevalence of infectious diseases, presence of large number of hospitals, growing aging population, and greater access to healthcare supported the largest share of Europe in the medical/hospital beds market.
The key players operating in the global medical/hospital beds market areStryker Corporation (U.S.), Hill-Rom Holdings, Inc. (U.S.), Getinge AB (Sweden), Invacare Corporation (U.S.),Joh. StiegelmeyerGmbH& Co. KG (Germany), Paramount Bed Holdings Co., Ltd. (Japan), LINET Group SE (Czech Republic), Medline Industries, Inc. (U.S.), Joerns Healthcare LLC. (U.S.), Gendron, Inc. (U.S.), Span-America Medical Systems, Inc. (U.S.), Savion Industries (Israel), and Malvestio Spa (Italy), among others.
TOP 10 COMPANIES IN HOSPITAL BEDS MARKET-2020
https://meticulousblog.org/top-10-companies-in-hospital-beds-market/
Key questions answered in the report-
Which are the high growth market segments in terms of product type, type of care, healthcare facility, technology, and region/countries?
What was the historical market for hospital beds across the globe?
What are the hospital beds market forecasts and estimates for the period 2019-2027?
What are the major drivers, restraints, opportunities, and trends in the global hospital beds market?
Who are the major players in the hospital beds market?
How is the competitive landscape and who are the market leaders in the global hospital beds market?
What are the recent developments in the global hospital beds market?
What are the different strategies adopted by the major players in the global hospital beds market?
What are the geographical trends and high growth regions/ countries?
Download key industry insights spread across 204 pages with 143 market data tables & 50 figures & charts from the report: https://www.meticulousresearch.com/download-sample-report/cp_id=5091
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Asia Medical/Hospital Beds Market By Product (Beds, Accessories), Area Of Use (Critical, Bariatric, Med Surg, Pediatric, Maternal), Type Of Care (Curative, Long Term), And End User (Hospital, Homecare, Elderly) - Forecast to 2025
https://www.meticulousresearch.com/product/asia-medical-hospital-beds-market/
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About Meticulous Research®
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze and present the critical market data with great attention to details.
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, with the help of its unique research methodologies, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa regions.
With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
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