Hospital Beds – Take minimum help from caretaker
Hospital beds are designed for hospitalized patients or for the patients who need healthcare services as well as for the convenience of their caretaker. Hospital beds provide numerous facilities, such as adjustable height, electronic buttons to operate in case of emergency, and provides patients with comfort and ease while getting treatment. Household beds are difficult to maintain for longer period whereas, hygiene and cleanliness are not maintained properly. Hospital beds can be set to any inclination or reclined as per the patient’s condition or comfort. Semi-electric beds are used to raise and lower the head and foot portions of the bed. Many modern hospital beds have the provision of electrical assistance for movement as well as for patient monitoring. It also allows patients to adjust the height without the help of caretaker. Based on the medical needs, hospitals beds are also custom made for various patient or medical institution setting, such as pediatric beds, psychiatry beds, outpatient beds, bariatric beds, maternity beds, terminal patient beds, ambulatory, and intensive care unit beds. According to Eurostat, in 2014 among the EU member States, Germany had the highest number of hospital beds relative to the population size with 823 hospital beds per 100 000 population and the average hospital beds in the Europe region was 521 per 100, 000 inhabitants.
Increasing healthcare spending on hospital infrastructure is expected to drive the sales of hospital beds worldwide
Many of the hospitals have shifted their capital funds towards the hospital infrastructure, which is mainly seen in private hospitals. Improving healthcare amenities along with increasing spending in healthcare is expected to boost growth of hospitals beds market globally. Increasing number of geriatric population and need for their treatment is expected to fuel the growth of hospital bed market over the forecast period. The number of hospital beds are very less in emerging economies. For instance, in India, according to World Bank data, 2011, the hospital beds were recorded to be 0.9 beds per 1,000 population. According to Eurostat 2015, Europe hospitals accounted for the highest share of current healthcare expenditure and public funding in the form of general government and social security funds, which dominates the healthcare sector in the majority of European Member States.
The global hospital beds market was valued at US$ 3.1 billion in 2017 and is expected to witness a robust CAGR of 6.2% over the forecast period (2017 - 2025).
Figure 1. Global Hospital Beds Market, by Region, 2017 (US$ Mn)
Source: Coherent Market Insights Analysis (2017)
Advance technology in hospital beds is expected to boost the market growth
Market players are developing advance technological beds that provide safety and comfort to the patient when admitted. For instance, Hill-Rom have developed advanced bariatric care, The Compella Bariatric Bed, which provides the latest advancement in bariatric care and it also provides safety, which helps to overcome barriers to streamline workflow. Stryker’s InTouch, a critical care bed is the first high acuity care bed, which provide advance technology, back smart ergonomics, and control all bed functions with an easy operating touch screen interface. It also provides better bedside data, which prevent adverse events. Thus, the advance technology and additional features implemented by manufacturer in hospital bed are expected to support the market growth over the forecast period.
Some major players operating in the hospital beds market include Stryker Corporation, Hill-Rom Holdings, Inc., Getinge AB, Invacare Corporation, Medline Industries, Inc., Linet Spol. S.R.O., Stiegelmeyer GmbH & Co. Kg, Antano Group S.R.L, Amico Corporation, and Midmark Corporation.