Hospital beds are designed to provide medical care, support, and comfort to patients admitted in hospitals and healthcare facilities. Advance hospital beds come integrated with features like adjustable heights, remote-operated lateral transfer, and mobility enhancing properties that aid both patients and caregivers.
The global hospital Beds Market is estimated to be valued at US$ 4,151.9 Mn in 2023 and is expected to exhibit a CAGR of 6.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing demand for advanced hospital beds that improve patient care and recovery has been a key trend fueling the growth of the hospital beds market. These specialized beds integrate mobility assist technologies, fall prevention systems, pressure relief pumps, monitoring systems, and other safety features to better serve the needs of patients. Technological advancements have resulted in smart beds integrated with sensors and IoT connectivity that help provide remote care and monitoring. This has enabled improving quality of care while reducing workload burden on healthcare staff. With rising patient volumes and focus on enhanced outcomes, the demand for high-end beds offering therapeutic healing properties is estimated to rise substantially in coming years.
SWOT Analysis
Strength: The hospital beds market enjoys a steady demand due to aging population and prevalence of chronic diseases that require hospitalization.
Weakness: High costs associated with technologically advanced beds hamper their widespread adoption in cost-sensitive developing regions.
Opportunity: Growing investments by hospitals in developing countries to strengthen their healthcare infrastructure present lucrative opportunities.
Threats: Alternatives such as home healthcare and emergence of low-cost medical tourism impact the market.
Key Takeaways
The global hospital beds market is expected to witness high growth.
Regional analysis: North America currently dominates the global market and is expected to continue its dominance over the forecast period. Growing geriatric population and increasing prevalence of chronic diseases drive the demand. Asia Pacific is anticipated to showcase the fastest growth on account of rising healthcare investments, growing medical tourism, and expanding healthcare infrastructure in countries such as China and India.
Key players: Key players operating in the hospital beds market are Stryker, Hill-Rom Holdings, Inc., Getinge AB, Invacare Corporation, Medline Industries, Inc., LINET., EarlySense, Max Healthcare, Eqova Healthcare, Compass Health Brands, Stiegelmeyer GmbH & Co. Kg, Antano Group S.R.L, Amico Corporation, and Midmark Corporation. Technological advancements and new product launches are some of the strategies adopted by major players to gain traction.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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