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Hospital Beds Market Size Worth USD 8.10 Billion in 2032 | Emergen Research
Hospital Beds Market
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Key Drivers Fueling Market Growth:
1. Partnership Among Companies: A significant driver contributing to market expansion is the growing partnership among companies. Notably, the collaboration between the International Finance Corporation and Egyptians for Health Care Services to establish CapitalMed in Cairo aims to enhance healthcare services, addressing the scarcity of hospital beds in critical care units and specialist centers.
2. Increasing Number of Hospitals and Ambulatory Services: The rise in the number of hospitals and ambulatory services globally, coupled with the prevalence of chronic diseases, propels the demand for hospital beds. As per the World Health Organization (WHO), the growing awareness of therapy choices among patients further accentuates the need for hospital beds, particularly with the increasing geriatric population.
3. Expenditure on Ambulatory Facilities: Governments' increased spending on ambulatory facilities and strategic initiatives by major companies contribute significantly to market growth. For example, GE Healthcare's collaboration with Apprise Health Insights resulted in Oregon's first automated statewide hospital bed management solution, optimizing resource utilization and saving thousands of labor hours.
Key Restraints Challenging Market Growth:
High Cost of Advanced Beds:
The high cost of advanced hospital beds poses a challenge to market growth, especially considering the reliance on electricity and the potential for power outages disrupting patient care. Additionally, improper cleaning and disinfection protocols can lead to the spread of infections, restraining market revenue growth.
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Segment Insights:
1. Hospital Beds Type Insights:
• Dominance of Manual Medical Beds Segment: Manual medical beds accounted for the largest market share in 2022 due to their simplicity, reduced cost, and reliability. Collaborations and acquisitions, such as Baxter International Inc.'s acquisition of Hillrom, further contribute to the segment's revenue growth.
• Fastest Growth for Electric Medical Beds Segment: Electric medical beds are expected to register the fastest revenue CAGR, driven by their widespread use in hospitals, nursing homes, and home care settings, particularly for patients requiring long-term care and mobility assistance.
2. Hospital Beds Application Insights:
• Dominance of Intensive Care Segment: The intensive care segment led the market in 2022, driven by the rising demand for beds equipped with advanced monitoring systems, ensuring patient safety and facilitating prompt response to any changes in their condition.
3. Hospital Beds Usage Insights:
• Dominance of Long Term Care Segment: Long-term care beds, catering to elderly patients and those with chronic conditions, constituted the largest market share in 2022. These beds offer comfort, space, and support, addressing the needs of patients who require daily assistance and specialized care.
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As the global hospital beds market continues to evolve, fueled by technological innovations and strategic collaborations, stakeholders are poised to capitalize on emerging opportunities and address challenges to meet the growing demand for healthcare services worldwide.
Hospital Beds Top Companies and Competitive Landscape
The global hospital beds market is fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective hospital beds solutions.
• Medline Industries, Inc.
• Joerns Healthcare LLC.
• Medical Depot, Inc.
• Invacare Corporation
• Stiegelmeyer GmbH & Co. KG
• Joerns Healthcare LLC.
• GF Health Products, Inc.
• Hillrom Services, Inc.
• LINET
• Paramount Bed Co., Ltd.
Hospital Beds Latest Industry News
On 10 August 2023, DLF announced the partnership with Global Health Ltd (Medanta) to establish a 400-bed multi-speciality hospital in the national capital. In the new joint venture, the two companies have an equal collaboration. The new hospital expanded Delhi's medical infrastructure and reinforced the city's deep commitment to improving the quality of life for citizens in and around the National Capital Region (NCR).
Hospital Beds Market Segment Analysis
For the purpose of this report, Emergen Research has segmented the global hospital beds market on the basis of type, application, usage, and region:
• Type Outlook (Revenue, USD Billion; 2019-2032)
o Electric Medical Beds
o Manual Medical Beds
o Semi-Electric Medical Beds
• Application Outlook (Revenue, USD Billion; 2019-2032)
o Non-Intensive Care
o Intensive Care
• Usage Outlook (Revenue, USD Billion; 2019-2032)
o Long term Care Beds
o Acute Care Beds
o Psychiatric Care Beds
o Others
• Regional Outlook (Revenue, USD Billion; 2019-2032)
o North America
1. U.S.
2. Canada
o Europe
1. Germany
2. France
3. U.K.
4. Italy
5. Spain
6. Benelux
7. Russia
8. Rest of Europe
o Asia Pacific
1. China
2. Japan
3. South Korea
4. India
5. ASEAN Countries
6. Oceania
7. Rest of APAC
o Latin America
1. Brazil
2. Mexico
3. Rest of LATAM
o Middle East & Africa
1. GCC Countries
2. Israel
3. Turkey
4. South Africa
5. Rest of MEA
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Eric Lee
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Emergen Research
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E-mail: sales@emergenresearch.com
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.
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