According to a new market research report, Medical/Hospital Beds Market by Product (Bed, Accessories), Technology (Power, Manual), Type of Care (Curative, Rehabilitation), Healthcare Facilities (Critical, Bariatric, Long-term, Paediatric, Maternal, Home Care) – Global Forecast to 2027”, published by Meticulous Research®, the medical/hospital beds market is expected to grow at a CAGR of 7.8% from 2020 to reach $5.23 billion by 2027.

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Hospital beds are indispensable components required at healthcare facilities, playing an important role in maintaining comfort and medical procedures. A wide range of hospital and long-term healthcare beds are available in the market, allowing good infection control, offering enhanced ergonomics, comfort, safety, and ease of use, and promoting effective risk management. The range includes hospital beds, community beds, nursing home beds and stretchers, and related accessories designed to support and assist the resident, the patient, and the caregiver.

Factors such as increasing elderly population coupled with the growing prevalence of chronic diseases; increasing rate of hospitalization due to the outbreak of COVID-19 pandemic and other infectious diseases; the growing number of well equipped, well furnished, and advanced infrastructure hospitals; and launch of technologically advanced beds are expected to propel the global medical/hospital beds market. Furthermore, the factors such as the growing preference for minimally invasive surgeries and availing ambulatory surgical and healthcare centers by patients; and decreasing funding for public hospitals, resulting in lower adoption for advanced beds in the facilities, may hinder the growth of the overall hospital beds market during the forecast period.

COVID-19 Impact on the Medical/Hospital Beds Market

Due to the COVID-19 public health emergency, there was an increased demand for hospital beds, stretchers, and mattresses to expand healthcare capacity in local hospitals and healthcare systems through temporary expansion sites. To meet this need, manufacturers from various industry sectors not traditionally associated with medical device manufacturing were looking for resources to manufacture and market these devices to the healthcare community.

In April 2020, the Institute for Health Metrics and Evaluation estimated a shortage of 16,323 beds in the U.S. Similarly, various European countries experienced a shortage of ICU beds. Furthermore, increasing COVID-19 cases in Asia-Pacific and Latin America will showcase a shortage of hospital beds. Thus, this huge gap in the supply and demand for medical/hospital beds is expected to stimulate the demand for hospital beds.

Various vendors are adopting organic & inorganic strategies to cope up with this situation. For instance,

  • In March 2020, Hill-Rom Holdings, Inc. (U.S.) expanded its production capacity of ICU and med-surg unit smart beds, including the company’s Progressa ICU bed, Centrella Smart+ bed, and, for international markets, the Hill-Rom 900 and Hill-Rom 900 Accella to double.
  • In March 2020, Medline Industries, Inc. (U.S.) opened its national sales support center in Illinois, U.S., to provide customized customer solutions.

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The hospital beds market study is segmented on the basis of product, type of care, healthcare facility, and end user. The study also evaluates industry competitors and analyzes the market at regional and country levels.

Based on product type, the medical beds segment accounted for the largest share of the overall market in 2020. The emergence of COVID-19 leads to an increase in demand for medical/hospital beds, specifically ICU beds. Apart from this, the rising number of admission & emergency cases and the growing focus of vendors to boost the production of beds across the globe are some of the other factors driving the growth of this segment.

On the basis of technology, the powered beds segment commanded the largest share of the overall medical beds market in 2020. The large share growth of this segment is attributed to their growing adoption by healthcare facilities in the developed regions and their growing demand in developing regions. Powered beds offer various advantages over manual beds, such as easy transport of a patient, patient comfort and position adjustments, mobile monitoring, and fall detection feature, among others.

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Based on type of care, the long-term care segment is expected to grow at the highest CAGR during the forecast period. The growing incidence of chronic diseases associated with the aging population is one of the major factors driving the hospital beds market for long-term care. Further, long-term care at home provides an affordable and convenient option for the rapidly aging population.

Based on healthcare facility, the critical care unit segment commanded the largest share of the overall medical/hospital beds market in 2020. The growing number of accidents that lead to a high rate of admissions in the ICU and the increasing aging population, and sudden outbreaks of life-threatening infectious diseases contributed to the growth of the medical/hospital beds market for critical care units.

The report also includes an extensive assessment of the product portfolio, geographic analysis, and key strategic developments adopted by leading market participants in the industry over the past four years (2017–2020). In recent years, the medical/hospital beds market has witnessed new product launches & enhancements, acquisitions, agreements & partnerships, and expansions.

Some of the key players operating in the global medical beds market are Stryker Corporation (U.S.), Hill-Rom Holding, Inc. (U.S.), Invacare Corporation (U.S.), Getinge AB (Sweden), Paramount Bed Holdings Co., Ltd. (Japan), Medline Industries, Inc. (U.S.), Stiegelmeyer GmbH & Co. KG (Germany), Gendron, Inc. (U.S.), LINET Group SE (Czech Republic), Joerns Healthcare LLC. (U.S.), Span-America Medical Systems, Inc. (U.S.), Savion Industries (Israel), and Malvestio Spa (Italy) among others.

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/hospital-beds-market-5091

Key questions answered in the report-

  • Which are the high growth market segments in terms of product type, type of care, healthcare facility, technology, and region/countries?
  • What was the historical market for hospital beds across the globe?
  • What are the hospital beds market forecasts and estimates for the period 2020-2027?
  • What are the major drivers, restraints, opportunities, and trends in the global hospital beds market?
  • Who are the major players in the hospital beds market?
  • How is the competitive landscape and who are the market leaders in the global hospital beds market?
  • What are the recent developments in the global hospital beds market?
  • What are the different strategies adopted by the major players in the global hospital beds market?
  • What are the geographical trends and high growth regions/ countries?

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Tags: Hospital Beds, MEDICAL BEDS MARKET, Powered Beds Market, Hospital Beds Market

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