Hospital Beds Market to Stand Well Over $4824.2 Mn Valuation by the End of 2023
Europe, Middle East & Africa hospital bed market, by type (Standard bed, Manual bed, Hydraulic bed and Electric bed) by Application type (Medical/Surgical bed, Critical care bed, Maternity bed, Bariatric bed and others) and by End users (Hospitals & Clinics, Nursing homes and Maternity homes)- Forecast to 2027
Overview:
Hospital beds are a special type of bed that have been designed to serve the hospitalized patients. These beds can be both electric and semi-electric ones. The global hospital beds market is gaining high traction due to the increase in geriatric population and people suffering from diseases. The global hospital beds market has the potential to cross the valuation of USD 4824.2 million by the end of 2023 with a moderate CAGR of 5.5% during the forecast period of 2017 to 2023. Market Research Future (MRFR) in their latest analysis of the global hospital beds market report opens up potentials that can impact the market in the coming years.
Several factors are expected to take the global hospital beds market ahead. Hike in investment for the healthcare sector is expected to play in favor of the global hospital bds market. Patient-centric service is also expected to ensure strong growth for the market as managements are going to buy new ones to increase the level of comfort for the market. However, the high price can be a growth deterrent.
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Segmentation:
MRFR has made an attempt to read the global hospital beds market closely by segmenting it on the basis of type, power, and end-users. This analysis has a strong foundation in the volume-wise and value-wise analysis of the global market.
Based on types, the global hospital beds market includes long-term care, acute care, psychiatric & bariatric care, and others (maternity and rehabilitation beds). The global market is expecting strong growth from the long-term care segment.
By power, the hospital beds market comprises electric bed, semi-electric bed, and manual bed. The electric bed segment is expected to receive strong traction due to hike in the global healthcare expenditure and investment to increase level of comfort for patients.
By end-users, the global hospital beds market includes hospital, clinics, ambulatory, and others. The hospital segment is expected to grow notably.
Regional Analysis:
The Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA) are four regions that have been included in the global hospital beds market report, studied by MRFR. This report has a special focus on the growth pockets that can be explored later for a better understanding of the market flow.
Europe is dominating the global market that depends mostly on the contribution made by Western Europe where countries like France, Germany, the U.K, Spain, Italy, and others are doing great. The eastern region does not promise high growth as several countries are there with not much of strong economies. The Europe hospital beds market had a valuation of USD 916.6 million in 2016 and is at present, deemed to grow with a CAGR of 5.5% during the forecasted period.
The Americas stands in the second spot. This growth is due to robust infrastructure, huge geriatric population, substantial investment capacity, high per capita income, and other features. It is also getting the benefits of the presence of countries like the U.S. and Canada who spend substantially to take the regional market ahead.
The APAC market is all set to gain from the increasing geriatric population, surging number of hospitals, and increasing government support to transform the healthcare sector and research & development. Such features have taken the regional market ahead. The MEA market would gain from the growth in the Middle East region. Africa would deter the growth rate due to the presence of several poor economies.
Competitive Landscape:
Various market players are showing substantial interest in the global hospital beds market. The global market can be inspired by the strategic moves implemented by these companies to cement their individual growth and in the process, they are taking the global market ahead. MRFR, in their report on the market, profiled quite a few companies. These companies are by Stryker Corporation, Hill-Rom Holdings, Invacare Corporation, Linet spol. s r.o., Gendron Inc., Paramount Bed Holdings Co., Ltd., and Getinge AB.
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