Hospital Beds Market
Number of pages: 100 | Report Format: PDF | Published date: March 02, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 4.81 billion |
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Revenue Forecast in 2031 |
US$ 7.28 billion |
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CAGR |
4.7% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023-2031 |
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Historical Year |
2021 |
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Segments Covered |
Technology, Application, End-user, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global hospital beds market was valued at US$ 4.81 billion in 2022 and is expected to register a revenue CAGR of 4.7% to reach US$ 7.28 billion by 2031.
Hospital Beds Market Fundamentals
Hospital beds are an essential piece of equipment used in medical facilities worldwide. These beds provide patients a safe and comfortable resting place while receiving medical treatment and care. Hospital beds are designed to meet the unique needs of patients, providing features, such as adjustable height, backrest, and footrest positions, specialized mattresses, and other accessories. At present, there are several types of hospital beds available, including manual beds, semi-electric beds, and fully electric beds. Manual beds are operated manually by healthcare staff, while semi-electric and electric beds have electronic controls allowing easier and more precise adjustments. The choice of bed may depend on factors, such as patient needs, hospital budget, and available resources. Hospital beds play a critical role in delivering high-quality medical care to patients. They are an essential part of healthcare systems worldwide. The demand for hospital beds is expected to grow in the coming years as healthcare systems expand and modernize to meet the needs of an increasingly diverse and aging population. As such, the hospital beds market is a significant part of the healthcare industry.
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Hospital Beds Market Dynamics
The primary driver for the revenue growth of the global hospital beds market is the rising prevalence of chronic diseases, as patients with chronic diseases need extended hospital stays and specialized equipment. For instance, according to September 2022 factsheet by WHO, chronic diseases kill around 41 million individuals per year, which is equivalent to 74% of deaths globally. Increasing numbers of hospitals across the globe are also fueling the global hospital beds market. Additionally, advances in medical technology have led to the development of more advanced hospital beds, including those with adjustable heights, patient monitoring systems, wireless connectivity, and built-in scales. These features make it easier for healthcare professionals to provide high-quality patient care and boost the global hospital beds market revenue growth. Moreover, increasing spending on healthcare infrastructure is also helping in market development.
However, the rising preference for minimally invasive procedures, which eventually leads to fewer hospital stays, ultimately hampers the hospital beds market. Hospital beds can be expensive, particularly those with advanced features and technology. This can make it difficult for smaller hospitals and healthcare facilities with limited budgets to invest in these beds. Additionally, high maintenance of the beds, limited availability of beds in developing economies, and the increase in the prevalence of counterfeiting are some of the restraints impeding the overall market growth.
Hospital Beds Market Ecosystem
The global hospital beds market is analyzed from four perspectives: technology, application, end-user, and region.
Hospital Beds Market by Technology
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Based on the technology, the global hospital beds market is segmented into electric medical beds, semi-electric medical beds, and manual medical beds.
The semi-electric medical beds segment dominated the market with a principal revenue share in 2022, attributed to their cost-effectiveness and versatility. Semi-electric medical beds are a type of hospital bed designed to provide patients with a comfortable and safe resting environment while allowing for easy adjustments to be made to the bed’s position. Unlike manual hospital beds, which require physical force to adjust their height and angle, semi-electric beds are powered by a motor that makes these adjustments much easier and more precise. Moreover, semi-electric medical beds are less expensive than electric medical beds and, on the other hand, offer more functions than manual beds, making semi-electric preferable to the other types of beds. These advantages contribute to the growth of the semi-electric medical beds segment.
The electric medical beds segment is expected to show the fastest revenue growth during the forecast period, owing to the multiple features it supports and provides a higher level of comfort and convenience for both patients and healthcare providers. Electric medical beds are a type of hospital bed fully powered by an electric motor, allowing for easy adjustments to the bed’s height, angle, and other features. These beds provide a high level of comfort and convenience for patients and make it easier for healthcare providers to care for patients. In recent years, electric beds have gained popularity, as they provide a superior level of functionality and convenience compared to manual and semi-electric beds. With electric beds, healthcare providers can easily adjust the bed’s position and height with a button rather than using physical force to adjust the bed manually. This can be especially important for patients with limited mobility or who cannot move independently. These factors contribute to the growth of the electric medical beds segment.
Hospital Beds Market by Application
Based on the application, the global hospital beds market is segmented into acute care beds, psychiatric care beds, long-term care beds, and maternity beds.
The acute care beds segment dominated the market with the largest revenue share in 2022. Acute care beds are a type of hospital bed designed to meet the needs of patients who require short-term medical care for acute illnesses or injuries. Acute care beds are typically equipped with features that make them suitable for patients who are critically ill or injured, such as adjustable height, backrest, and footrest positions, as well as specialized mattresses and other accessories. These beds are also designed to be easy to move and transport, as acute care patients may need to be transferred between different hospital departments or hospitals. These factors contribute to the revenue growth of the acute care beds segment.
The long-term care beds segment is expected to be the fastest-growing segment during the forecast period, owing to the rising number of patients requiring long-term care and the increase in the geriatric population. Long-term care beds are designed to meet the needs of patients who require extended medical care for chronic illnesses, disabilities, or other long-term conditions. Long-term care patients require high comfort and safety during their extended hospital stays. These beds are also designed to be durable and easy to maintain, as they are intended to be used for extended periods. These factors contribute to the growth of the long-term care beds segment revenue growth.
Hospital Beds Market by End-user
Based on the end-user, the global hospital beds market is segmented into hospitals, home care, ambulatory centers, and others.
The hospital segment dominated the market with the largest revenue share in 2022, as hospitals are one of the primary customers for hospital beds. Furthermore, hospitals see a large increase in operations and procedures, necessitating a bed for these treatments. Hospitals are equipped with manual hospital beds, electric hospital beds, and semi-equipped hospital beds. These beds are designed to meet the specific needs of patients in a hospital setting, such as providing support and comfort for patients with mobility issues. These overarching variables contribute to the hospital segment revenue growth.
The home care segment is expected to be the fastest-growing segment during the forecast period, owing to the increase in the demand for home care. Home care beds are designed to provide medical support and comfort to patients requiring medical care in their homes, such as elderly or disabled patients who require long-term care or patients recovering from illness or surgery who need temporary medical assistance. These factors are expected to boost the home care segment.
Hospital Beds Market by Region
The global hospital beds market has been segmented geographically into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America dominated the global hospital beds market with the largest revenue share in 2022, attributed to the fast adoption of technology and the growing incidence of neurological disorders. Additionally, companies across the region are continuously involved in research and development activities for launching new and innovative technologies for hospital beds. These efforts are also helping in the development of the region. For instance, in February 2021, Stryker, one of the world’s top medical technology firms, announced the EMEA launch of the ProCuity, a wireless hospital bed. The bed series was created to aid in the reduction of in-hospital patient falls at all acuity levels, as well as to increase nursing workflow efficiency and safety. It is capable of connecting to nurse call systems without the usage of cables or wires. The bed’s simple touchscreens and other important components are intended to make carers’ jobs easier and more efficient while offering a better patient experience. Key features of ProCuity include a standard & customized platform, adaptive bed alarm, and three-position secure assist side rails.
Hospital Beds Market Competitive Landscape
The prominent players operating in the global hospital beds market are:
Hospital Beds Market Strategic Developments
The global hospital beds market is expected to reach US$ 7.28 billion by 2031.
The hospital beds market is expected to register a revenue CAGR of 4.7% during the forecast period from 2023 to 2031.
The rising prevalence of chronic diseases, increasing spending on healthcare infrastructure, and the development of more advanced hospital beds are driving the revenue growth of the global hospital beds market.
The maintenance of the beds, the limited availability of beds in developing economies, and the rise in the cases of counterfeiting are restricting the global market revenue growth to its full potential.
Centromed Ltd., Amico Corporation, Stiegelmeyer GmbH & Co. KG, Joerns Healthcare LLC., and ARJO AB are among the top market players.
*Insights on financial performance are subject to the availability of information in the public domain