Hospital Beds Market, By Type (Electric Beds, Semi-electric Beds, and Manual Beds), By Application (Acute Care, Psychiatric Care, Long-term Care, and Others), By End User (Hospitals, Home Care Settings, Elderly Care Facilities, Ambulatory Surgical Centers, and Others), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)

Published In : Apr 2024

Code : CMI993

Pages :120

Formats :

Excel and PDF

Industry : Medical Devices

Hospital Beds Market Size and Trends

The global hospital beds market is estimated to be valued at USD 4,896.5 Mn in 2024 and is expected to reach USD 7,681.5 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.6% from 2024 to 2031.

Hospital Beds Market Key Factors

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Rising geriatric population and increasing number of hospitals and ambulatory surgery centers across the world are expected to boost the demand for hospital beds. Furthermore, the growing prevalence of chronic diseases due to changes in lifestyle is also supporting the market growth. Adoption of advanced features like bedsores prevention function, articulated bed position, wireless remote control, and safety rails by key market players is further expected to provide opportunities for market expansion. However, high cost of technologically advanced beds may hamper the market growth to some extent during the forecast period.

Increasing Hospital Launches Boosts the Demand for Hospitals Beds

Increasing hospital launch boosts the demand for hospital beds which is expected to drive the growth of the global hospital beds market over the forecast period. For instance, on January 24, 2024, Rainbow Children's Medicare Limited (RCML), Rainbow Children's Hospital, India's leading pediatric multi-specialty hospital chain, announced the launch of its new state-of-the-art 100-bed spoke hospital in Bengaluru, India.

Hospital Beds Market Concentration By Players

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Advancements in Medical Technology and Surgical Procedures

Advanced treatments like robotic surgeries, minimally invasive procedures, organ transplants, and cancer therapies have reduced recovery times. At the same time, continuously evolving technology is allowing hospitals to perform surgeries which were not possible earlier. Moreover, new disease diagnostic techniques help in detecting health issues in early stages when treatment outcomes are better. All these aspects have increased the volume of patients requiring hospitalization worldwide. In order to cope with these changing demands and offer quality post-operative care, hospitals need high-end beds incorporated with the latest amenities and fixtures. Technology-enabled beds with features like adjustable positions, bedside monitoring and electronic health records also improve patient safety and treatment outcomes.