Hospital Beds Market to Surpass US$ 6,763.7 Mn by 2030 - Coherent Market Insights

Global Hospital Beds Market, by Usage (Acute Care Beds, Psychiatric Care Beds, Long-term Care Beds, and Others (Maternity Beds, Bariatric Beds, etc.)), by Application (Intensive Care Beds and Non-intensive Care Beds), by Type (Electric Beds, Semi-electric Beds, and Manual Beds), by End User (Hospitals, Home Care Settings, Elderly Care Facilities, Ambulatory Surgical Centers, and Others (Nursing Homes, etc.)), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 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), as highlighted in a new report published by Coherent Market Insights.

The increasing adoption of organic strategies by various government such as funding is expected to drive the hospital beds market growth over the forecast period. For instance, in June 2021, the government of India announced the additional funding of Rs. 23,220 crore (US$ 2,802 Million) for setting up pediatric beds facilities in hospitals of India. This funding will increase the number of ICU beds and medical equipment and medicines.

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

The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.

However, the COVID-19 pandemic had a positive impact on the global hospital beds market, owing to the increasing funding by the government. For instance, in December 2021, the government of New Zealand announced the funding for 12 new beds at Christchurch Hospital and two at Tauranga Hospital, while eight elective surgery beds in Auckland’s North Shore Hospital was converted for surge capacity.

There will also be four new high dependency (HDU) beds at Tauranga and two at North Shore. This funding boosted the capacity of New Zealand to fight against the COVID-19 by providing more intensive care beds for the patients.

Global Hospital Beds Market: Key Developments

In October 2021, LINET, a manufacturer of hospital and nursing beds, announced that they launched a new generation of multicare X beds. The multicare X hospital beds are used for critical and intensive care that helps to maintain vital signs of the patient and provides safety and many refined functions. The multicare X beds are equipped with new solutions such as intuitive adjustment of the settings of both the bed and the integrated mattress from one screen, and it also allows the caregiver to push the bed ergonomically with motorized power even without the headboard.

Browse 44 Market Data Tables and 38 Figures spread through 180 Pages and in-depth TOC on “Global Hospital Beds Market”-  Forecast to 2030, Global Hospital Beds Market, by Usage (Acute Care Beds, Psychiatric Care Beds, Long-term Care Beds, and Others (Maternity Beds, Bariatric Beds, etc.)), by Application (Intensive Care Beds and Non-intensive Care Beds), by Type (Electric Beds, Semi-electric Beds, and Manual Beds), by End User (Hospitals, Home Care Settings, Elderly Care Facilities, Ambulatory Surgical Centers, and Others (Nursing Homes, etc.)), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

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Moreover, increasing adoption of inorganic strategies by market players such as acquisition is expected to drive the market growth over the forecast period. For instance, in August 2022, LINET, a manufacturer of hospital and nursing beds, announced that they had acquired Pegasus Health Group, a provider of healthcare equipment solutions. This acquisition will provide the premium products and services of hospital beds in the market.

Key Takeaways of the Global Hospital Beds Market:

• The global hospital beds market is expected to exhibit a CAGR of 6.3% during the forecast period due to the increasing adoption of strategies such as product launches by the key market players. For instance, in December 2018, Hill-Rom Holdings, Inc., a medical technology company and EarlySense, a medical device company, announced that they had partnered together to launch patient monitoring technology for centrella beds. It will offer optimized patient safety, enhanced patient satisfaction and advanced caregiver-focused technology by allowing continuous monitoring of patients’ heart and respiratory rates over 100 times per minute without even touching the patient.
• Among application, intensive care beds segment is estimated to hold a dominant position in the global hospital beds market due to increasing patient care and safety by the state government over the forecast period. For instance, in December 2021, the state government of Telangana announced that they had set up 200 intensive care unit (ICU) beds at Nizam’s Institute of Medical Sciences (NIMS), which will strengthen the healthcare facilities at the Nizam’s Institute of Medical Sciences (NIMS).
• On the basis of regions, North America is estimated to account for the largest market share in the global hospital beds market, owing to the increasing hospitalization of patients. For instance, in 2021, according to the American Hospital Association, total admissions in all U.S hospitals were 36,241,815 in 2019.
• 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