HOSPITAL BEDS MARKET ANALYSIS

Hospital beds are the essential components required for providing healthcare facilities. As several patients are unable to move and rest is most important for them. Hospital beds provides easier access to both caregiver and patient. Hospital beds are available in different sizes ranging from 35 to 54 inches in width and 75 to 88 inches in length. Hospital beds can be adjusted in different forms, such as adjustable height and tilt option, according to the need of the patient. The higher position of the bed helps the caregiver to serve the patient, whereas the lower position of the bed provides easier access to patient for getting in or out of the bed.

The global hospital beds market is estimated to be valued at US$ 4,151.9 million in 2022 and is expected to exhibit a CAGR of 6.3% during the forecast period (2022-2030).

Figure 1. Global Hospital Beds Market Share (%), by Usage, 2022

To learn more about this report, request a free sample copy

Global Hospital Beds Market - Drivers

Increasing expansions and advancement of hospitals are expected to boost growth of the hospital beds market. For instance, in October 2019, the Texas Health and Human Services and Dell Medical School at The University of Texas at Austin initiated the construction of new hospital, in order to replace the old psychiatric hospital in Texas, U.S. A funding of around US$ 180.5 million was approved by the Texas Legislature and the Governor for design in May 2019, and initial construction of a modern, state-of-the-art psychiatric hospital with a capacity of 240 beds.

Figure 2. Global Hospital Beds Market Value (US$ Million), by Region, 2022

To learn more about this report, request a free sample copy

Global Hospital Beds Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization had declared it a public health emergency on January 30, 2020.

COVID-19 can affect the economy in three main ways: by directly affecting production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, U.A.E., Egypt, and others, are facing problems with regards to the transportation of drugs from one place to another.

However, the COVID-19 pandemic had a positive impact on the global hospital beds market. For instance, in November 2020, according to the data published in National Center for Biotechnology Information, mortality rates were affected by various factors including, acute care, ICU, and hospital bed capacity. Higher income regions have greater number of acute care, ICU, and hospital beds capacity as compared to lower region. Hence, for the implementation of critical care of patients, there was increased demand for hospital beds.

Global Hospital Beds Market: Key Developments

Adoption of inorganic strategies such as product launch by the key market players is expected to drive the global hospital beds market over the forecast period. For instance, in February 2021, Stryker, a medical technology company, announced that they had launched a completely wireless hospital bed, ProCuity. This bed series was designed to help reduce in-hospital patient falls at all acuity levels and improve the workflow safety. It can connect to nurses without the use of cables and wires.

Global Hospital Beds Market: Restraint

Increasing number of product recalls by government agencies such as the U.S. Consumer Product Safety Commission (CPSC) is the major factor that is expected to hinder growth of the global hospital beds market. For instance, in December 2021, U.S. Consumer Product Safety Commission (CPSC) voluntarily recalled 105,000 bed rails, which were manufactured by Compass Health Brands, a medical device company, after receiving three death reports associated with the product. The bed rails was recalled as it was not properly attached to the bed and the user became entrapped between the bed and the mattress.

Global Hospital Beds Market - Key Players

Major players operating in the global hospital beds market include 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