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Hospital Beds Market 2024 | Growth, Market Size, Analysis, Competitive Landscape, Share & Forecast To 2033
Hospital Beds Market
The hospital beds market size is expected to see strong growth in the next few years. It will grow to $6 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to increasing focus on patient comfort and care, rising healthcare expenditure worldwide, emergence of home healthcare services, demand for bariatric hospital beds, integration of smart technologies in hospital beds. Major trends in the forecast period include telehealth integration, focus on patient safety, global aging population impact, modular and convertible bed solutions, sustainable and environmentally friendly designs.
Market Overview -
Hospital beds are specialized beds designed for use in healthcare facilities, such as hospitals or clinics. Hospital beds provide a comfortable and safe environment for individuals recovering from surgery, receiving medical treatments, or managing chronic conditions.
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Surging Hospitalization Rates Propel Demand For Hospital Bed Market
The rising hospitalization rate is expected to propel the growth of the hospital bed market. Hospitalization refers to admitting a patient into a hospital or other healthcare facility for medical treatment, observation, or care. Upon hospitalization, patients use hospital beds to stay in the hospital while undergoing treatment, recovering, and resting. For instance, in March 2023, according to the Ontario Agency for Health Protection and Promotion, a Canada-based governmental health agency, the COVID-19 hospitalizations in 2022 stood at 29,524, increasing from 22,559 in 2021. Further, hospitalizations per 100,000 people were also higher in 2022 than in 2021. Therefore, the increasing hospitalization rates are driving the growth of the hospital bed market.
Competitive Landscape -
Major companies operating in the hospital beds market report are Apex Medical Corp, Sunrise Medical LLC, Invacare Corporation, Paramount Bed Co. Ltd., Midmark Corporation, Drive Medical, Joerns Healthcare LLC, Span-America Medical Systems, ArjoHuntleigh, Stiegelmeyer GmbH & Co. KG, Joh. Stiegelmeyer & Co. GmbH, Linet spol s.r.o, Amico Corporation, Nitrocare, Kanghui Medical Technology, Savion Industries, Guldmann AS, Haelvoet NV, Proma Reha Inc., Medline Industries LP, Stryker Corporation, Merivaara Corporation, Malvestio SpA, Hopefull Medical Equipment, StarMed Healthcare, Novak M d.o.o., Besco Medical Co. Ltd, Gendron Inc. , Royax SRO., Getinge AB.
Revolutionizing Patient Care With Icu Bed Upgrade Platform
Major companies operating in the hospital bed market are introducing technologically advanced products such ICU bed upgrade platform to sustain their position in the market. An ICU bed upgrade platform denotes a system or technology facilitating enhancements or improvements to intensive care unit (ICU) beds, potentially involving upgrades in features, functionality, or capabilities. For instance, in March 2023, Stryker, a US-based medical device company, launched SmartMedic, India's first ICU bed upgrade platform to enhance patient care and caregiver safety, SmartMedic is a patient care platform which enhances existing ICU bed capabilities at hospitals. This solution is intended to manage changes in patient weight, monitor patient turns from nurse stations and help medical staff to perform X-rays on patients within the ICU, without having to move them. SmartMedic is aimed at reducing a patient's discomfort and providing enhanced care.
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Key Segments -
The hospital beds market covered in this report is segmented -
1) By Type: Semi-Electric Beds, Electric Beds, Manual Beds
2) By Usage: Acute Care Beds, Long-Term Care Beds, Psychiatric Care Beds, Other Usages
3) By Application: Non-Intensive Care Beds, Intensive Care Beds
4) By End User: Hospitals, Clinics, Ambulatory Services, Other End Users
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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