Hospital beds are medical equipment intended and well equipped for bedridden patients or patients who require care, to provide relief and assistance to the patient. It allows better positioning of patients, ease of transfer, improved blood circulation, and safety of patients at a risk of falling out of the bed. The global hospital bed market is growing at a significant rate, due to escalating funds in healthcare infrastructural development, and mounting occurrence of chronic diseases.
Different type such as general, bariatric, pediatric, pressure relief, birthing, and others contributed to the hospital bed market size. The market has witnessed high demand for general bed due to low cost.
Insight by Treatment
On the basis of treatment, the market is subdivided into acute care, critical care, and long-term care. Of all treatment, critical care segment is expected to grow at the fastest rate in the market. Moreover, the acute care segment accounted foremost share in the market.
Insight by Application
On the basis of application the market is subdivided into intensive care, and non-intensive care. Of all the applications, the intense care accounted foremost share in the hospital bed market, due to technological advancements such as patient repositioning support, electrical bed retraction and extension, and constant lateral rotation therapy in specialized ICU beds.
Insight by Type
On the basis of the type the market is subdivided into general, bariatric, pediatric, pressure relief, birthing, and others. Among all types, the general segment accounted the largest share and is expected to grow at the fastest rate in the hospital bed market, due to low cost.
Insight by Power
On the basis of power, the market is subdivided into manual, electric, and semi-electric. Among all powers, the manual accounted the largest share and is expected to grow at the fastest rate in the hospital bed market, due to their cost-effective feasibility and easy availability.
Insight by End User
The different end users of the market are hospitals, elderly care facilities, and home care settings. Among all end users, the hospitals accounted the largest share in the hospital bed market, due to escalating number of patient population being treated for several diseases in hospitals. Moreover, the healthcare settings are expected to grow at the fastest rate in the market due to mounting government encouragement to reduce the length of stay in the hospital, and greater usage by geriatric population.
Escalating funds in healthcare infrastructural development, the mounting occurrence of chronic diseases, expanding the geriatric population, intensifying healthcare expenditure, escalating number of beds in private hospitals, and development of innovative hospital beds solution are the primary growth drivers for hospital bed market. For instance, according to GLOBOCAN globally, approximately 14.1 million new cancer cases were diagnosed and there were 8.2 million cancer deaths in 2012. In addition, according to the World Health Organization (WHO), globally in 2015 approximately 8.8 million people died due to cancer. Moreover, approximately 70% of the deaths from cancer occur in low and middle-income countries.
The mounting inclination of home care and technological advancement in ICU beds are also facilitating the growth of the hospital bed market.
Decreasing number of beds in public hospitals, elevated price of hospital beds, and serious instances related with hospital beds are the major challenges for the growth of hospital bed market.
Globally, the manufacturing companies trying to enter the hospital bed market are required to maintain stringent regulatory standards. Moreover, the high level of capital requirement also poses a major barrier to the entry of new players. This offers an edge to the established players in the industry competition.
Geographically, Europe is the largest hospital bed market as in the region the geriatric population is increasing. In addition, the mounting occurrence of chronic and lifestyle associated diseases, budding healthcare infrastructure, and escalating healthcare expenditure are also up surging growth of the European hospital bed market.
Asia-Pacific is observed to witness the fastest growth in the market, due to the mounting occurrence of chronic diseases. In addition, escalating medical tourism, refining healthcare infrastructure, and expanding geriatric population are also creating a positive impact on the hospital bed market growth in the region.
Key players in the hospital bed market are catering to the demand of these devices by investing in technologically advanced products in their product portfolio across the globe. In January 2017, Getinge Group, introduced Total Lift Bed from VitalGo Systems to expand its portfolio of patient mobility products in the U.S. Stiegelmeyer GmbH & Co. Kg, Stryker Corporation, Medline Industries, Inc., Invacare Corporation, Paramount Bed Holdings Co., Ltd., Hill-Rom Holdings, Inc., Merivaara Corp., Getinge AB, Midmark Corporation, Linet Spol. S.R.O and Antano Group S.R.L are the key players offering hospital bed.