Global Hospital Beds Market - Focused Insights 2024 - 2029

GLOBAL HOSPITAL BEDS MARKET INSIGHTS

The global hospital beds market was valued at USD 3.66 billion in 2023 and is expected to reach USD 4.83 billion by 2029, growing at a CAGR of 4.71% during the forecast period. The market is growing due to the increasing prevalence of chronic diseases, leading to rising hospital admissions worldwide. This increasing hospital admissions is boosting the demand for hospital beds globally.

The study considers a detailed scenario of the present global hospital beds market and its market dynamics for 2024−2029. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent players operating in the market.

MARKET DEFINITION

Hospital beds are specialized beds, particularly designed for hospitalized patients. They are used to furnish extra comfort, relief, and assistance to patients when healthcare services are available in various healthcare settings such as intensive care units (ICUs), emergency care settings, general wards, home care settings, and nursing homes.

GLOBAL HOSPITAL BEDS MARKET DRIVERS

High Demand for ICU-Compatible Hospital Beds: Hospital beds are available in different types in various departments, such as emergency departments, critical care departments (ICU), and other general wards, as required. ICU beds are well equipped with accessors such as X-ray cassette holders, section mattress bases, and stepless pneumatic adjustment designed to support and assist healthcare staff for effective workflow. With the increasing chronic disease prevalence, there is rising hospital admission, especially in critical care centers, which is driving the demand for ICU-compatible hospital beds. Road accident cases and factory accidents are increasing in developed as well as developing countries, which is contributing to ICU admissions in the country, boosting the demand for hospital beds in ICU departments. 

Technological Advancements in Hospital Beds: Hospital beds play a vital role in healthcare as caregivers use them during patient treatment. Over the past decade, hospital beds have undergone a paradigm transformation driven by factors such as an increase in the elderly population, the need to reduce pressure sores, and an increase in obese patients. Many vendors are increasingly focusing on improving the design, efficiency, and safety, as well as incorporating additional features to provide quality patient care while providing healthcare services in any healthcare setting.

GLOBAL HOSPITAL BEDS MARKET HIGHLIGHTS

• The full-electric hospital beds are growing significantly and dominating the global market, with the fastest growth rate during the forecast period. Full-electric hospital beds enable patients with reduced mobility to move freely. In recent years, there has been a rising prevalence of patients suffering from chronic and other acute disease conditions such as spinal injuries, paralysis, and others. This patient population demands full-electric hospital beds for better assistance and quality care. Also, quick assistance with smart features such as continuous monitoring and bed alarms, among others, increase the demand for full-electric beds in medical emergency rooms.
• Non-intensive care beds constitute the majority share within the application segment of the global hospital beds market. The increasing hospital admission for treatment and increasing patient population is driving the demand for non-intensive care beds in general wards, thereby boosting the demand for hospital beds across the globe.
• By care type, the curative beds segment is growing with the highest CAGR during the forecast period. Long-term care beds are specialized hospital beds that meet the needs of patients with chronic impairments, which may reduce their independence in activities of daily living. The surge in chronic diseases, attributed to the growing elderly population globally, is driving the demand for long-term care beds.
• The global hospital beds market by end-user is segmented into hospitals, home healthcare settings, nursing homes/long-term care facilities/elder homes, and others. The hospital is a major revenue contributor to the global market. The growth of this segment is mainly due to patients preferring to undergo treatment in hospitals rather than any other healthcare setting. Also, the growing aging population, changes in lifestyle patterns, and the increasing prevalence of abnormal cardiac disorders, along with chronic diseases, are driving factors contributing to the increase in hospital admissions and rising demand for hospital beds. 

GEOGRAPHICAL ANALYSIS

Europe was the largest geographical segment of the global hospital beds market, with a share of over 30% in 2023. The market dominance of Europe is due to the rising incidence of chronic diseases and improvements in healthcare infrastructure. For instance, over 50 million people in Europe have more than one chronic disease. The region is also witnessing an increase in the average life expectancy rate, fueling the prevalence of various diseases and contributing to the rise in hospital admissions.

APAC's global hospital beds market is growing significantly and is expected to continue during the forecast period. Furthermore, the APAC is projected to witness the highest CAGR in the global hospital beds market during the forecast period. The growth of the market in APAC is driven by factors such as the rise in the economy of countries in this region, the living standards of people that are increasing due to an increase in per capita income and spending capability, and the increasing prevalence of chronic diseases and cardiovascular disease in countries such as India and China.

VENDOR LANDSCAPE

The global hospital beds market report contains exclusive data on 43 Vendors. Stryker Corp, Invacare, Paramount Bed Holdings, Medline Industries, LINET spol, and Getinge are some leading players currently dominating the global hospital beds market. The global hospital beds market is highly fragmented. Large corporations dominate the market. However, there are significant growth opportunities for new entrants. The market offers tremendous growth opportunities for both existing and future/emerging players due to the presence of a large pool of target patient population, increasing elderly population, chronic disease prevalence, various other events such as patients recovering from surgeries, accidental care, emergency care settings, and ambulatory setups, among others.