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Steady Expansion Forecast for Hospital Beds Market, Projected to Reach $6.56 Billion by 2029
Hospital Beds
Hospital Beds Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
There has been a robust expansion of the hospital beds market size in the past few years. It is forecasted to rise from $4.35 billion in 2024 to $4.64 billion in 2025, translating to a compound annual growth rate (CAGR) of 6.7%. The surge during the historical period is a consequence of the worldwide rise in the aged population, increased incidences of chronic illnesses, enhancements in healthcare facilities, elevating number of surgical operations and hospital admissions, along with substantial governmental healthcare investments.
Hospital Beds Market Size Forecast: What's the Projected Valuation by 2029?
The market size for hospital beds is projected to exhibit robust growth in the upcoming years, reaching a value of $6.56 billion in 2029 with a compound annual growth rate (CAGR) of 9.0%. The increase during the projection period can be ascribed to heightened attention on patient well-being and care, escalation in global healthcare expenditure, the rise of home healthcare services, need for bariatic hospital beds, and the implementation of advanced technologies in hospital beds. Key trends to watch during the forecast period include the incorporation of telehealth, emphasis on patient security, the effect of the worldwide aging population, adaptable and transformable bed solutions, and designs that are eco-friendly and sustainable.
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What Are the Drivers Transforming the Hospital Beds Market?
The expansion of the hospital bed market is anticipated to be fueled by a growing hospitalization rate. Hospitalization involves the admission of a patient into a hospital or a different healthcare facility for medical care, treatment, or monitoring. Once admitted, patients utilize hospital beds for their stay as they receive treatment, recuperate, and rest. For example, in March 2023, the Ontario Agency for Health Protection and Promotion, a governmental health organization based in Canada, reported 29,524 COVID-19 hospitalizations in 2022, a notable increase from 22,559 in 2021. Moreover, hospitalizations per 100,000 population was also more in 2022 when compared to 2021. As a result, these rising rates of hospitalization are having a positive impact on the growth of the hospital bed market.
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What Long-Term Trends Will Define the Future of the Hospital Beds Market?
Leading corporations in the hospital bed market are launching cutting-edge products like ICU bed upgrade platforms to maintain their market dominance. The term ICU bed upgrade platforms refers to systems or technologies designed to augment or refine the ICU beds, potentially including upgrades to features, functionality, or abilities. For instance, in March 2023, the US-based medical tech firm Stryker unveiled SmartMedic - the first of its kind ICU bed upgrade platform in India designed to improve patient care and safeguard caregivers. SmartMedic is a platform designed for patient care, aiming to build on the current capabilities of ICU beds in hospitals. The system is designed to adapt to patient weight fluctuations, remotely monitor patient rotation from nursing stations, and aid healthcare workers in conducting X-rays without having to relocate patients within the ICU. The ambition behind SmartMedic is to minimize patient discomfort and offer superior care.
Which Segments in the Hospital Beds Market Offer the Most Profit Potential?
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
Subsegments:
1) By Semi-Electric Beds: Full-Electric With Manual Functions, Adjustable Height Semi-Electric Beds
2) By Electric Beds: ICU Electric Beds, Standard Electric Beds, Specialty Electric Beds
3) By Manual Beds: Adjustable Manual Beds, Fixed Height Manual Beds
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Which Firms Dominate the Hospital Beds Market by Market Share and Revenue in 2025?
Major companies operating in the hospital beds market include Apex Medical Corp, Sunrise Medical LLC, Invacare Corporation, Paramount Bed Co. Ltd., Midmark Corporation, Drive Medical, Joerns Healthcare LLC, Span-America Medical Systems, ArjoHuntleigh, 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
Which Regions Offer the Highest Growth Potential in the Hospital Beds Market?
Europe was the largest region in the hospital beds market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hospital beds market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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