According to a recent market study published by Growth Market Reports, titled, "Global Hospital Bed Market by types, applications, and regions: Size, Share, Trends and Opportunity Analysis, 2018-2028", the market was valued at USD 3,540.0 Million in 2020 and is anticipated to grow at a healthy growth rate of 5.5% by the year 2028. The global Hospital Bed market is anticipated to grow significantly during forecast period.

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The Global Hospital Bed Market is projected to expand at a rapid pace globally, due to rising demand for hospital beds in various industries such as hospitals, clinics, home care settings, elderly care facilities, and others. Preference for well-equipped and well-facilitated hospital beds is a major driver of global hospital bed market growth. Additionally, beds that are intended for a specific set of patients being treated are fueling the global rise of the hospital bed market. Increased healthcare infrastructure investments drive the medical bed market.

Growing investments lead to an increase in the cost allocated to medical beds, which is the main factor driving the market. Technical advancements in home care services, government support for home healthcare, Impact of COVID-19 on hospital costs and bed availability, and the lack of ambulance services contribute to an increase in demand for home healthcare.

In terms of types, the global hospital beds market is segmented into general beds, pediatric beds, pressure relief beds, bariatric beds, and others. The pediatric bed had the significant market share, and it is predicted to increase at a moderate rate throughout the projection period. In terms of care, the global hospital beds market is segmented into Curative Care, Long-term Care, and Rehabilitative Care. In 2019, the curative segment accounted for 78 percent of the market value of hospital beds. The rising incidence of cancer is leading to an increase in hospital admissions, which is driving up demand for specialist beds in curative settings.

The COVID-19 pandemic has positively affected the Hospital Bed market across the globe. Due to the COVID-19 public health emergency, hospital beds, stretchers, and mattresses are in high demand to enhance health care capacity in local hospitals and health care systems via temporary expansion sites. Manufacturers from a range of industries that are not usually linked with medical device manufacturing are looking for resources to help them manufacture and market these items to the healthcare community in order to meet this demand.

As per Growth Market Reports industry analyst Raksha Sharma, “The global Hospital Bed market is anticipated to witness significant growth during forecast period 2021-2028. The demand for pediatric bed had the significant market share, and it is predicted to increase at a moderate rate throughout the projection period. The semi electric bed is expected to hold significant market share, and it is predicted to increase at a moderate rate owing to its advantages over others. Growing prevalence of cardiovascular diseases, increasing investments in the development of healthcare infrastructure, technological advancements in hospital beds, and increasing number of surgeries are some of the major factors propelling the market growth.

Key Takeaways from the Study

  • The Bariatric Beds segment is expected to grow at a significant CAGR of 4.8% during 2021-2028 to reach at USD 675.9 Mn by the end of the year 2028.
  • The Y-o-Y growth of the Electric segment was improved by 0.9% due to the onset of COVID-19 pandemic between 2019 and 2020.
  • The Non-intensive Care Beds segment is projected to create an absolute $ opportunity of USD  1,213.2 million during the period of 2020 to 2028.
  • The market for medical beds is dominated by intensive care beds. Technological advancements resulted in specialized ICU beds with cutting-edge features.
  • The hospital segment is expected to dominate the global hospital beds market, owing to increasing requirement of beds to accommodate patients in the hospital.
  • North America segment held 36% value share of the market in 2020. The segment is projected to account for the largest share of the market during the forecast period.
  • The outbreak of COVID-19 positively affected the hospital beds market across the globe. Increasing patients, due to the Covid-19 pandemic, led to high demand for hospital beds. The pandemic affected all businesses and GDP fell significantly.
  • The market in the US is projected to grow in the near future, due to increasing number of domestic companies in the country.

Report Scope

Report Metric

Details

Market Value in 2020

USD 3,540.0 Million

Market Growth Rate (from 2021 to 2028)

5.5%

Historical Data

2018 & 2019

Base Year

2020

Forecast Period

2021 – 2028

Market Segments

Types, Care, Power, Application, End-user

Region Scope

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA)

Key Companies Profiled

Amico Group of Companies, ANTANO GROUP, Arjo, Famed Żywiec Sp. z o.o., GF Health Products, Inc. (Graham-Field), Hill-Rom Holdings, Inc, INDUSTRIAS HIDRAULICAS PARDO, S.A., Invacare Corporation, Joerns Healthcare LLC, Lojer Oy, LINET, Malvestio Spa, Midmark Corporation, Paramount Bed Holdings Co., Ltd.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience

  • Demand Side: Hospitals, Clinics, Home Care Settings, Elderly Care Facilities.
  • Regulatory Side: Concerned government authorities, regulatory bodies.
  • Associations and Industry Bodies: US Food and Drug Administration (FDA), National Policy on Hospital Care (PNHOSP), National Association of Private Hospitals (ANAHP), Occupational Safety and Health Administration (OSHA), International Organization for Standardization (ISO).