Global Hospital Bed Market Report, published by Variant Market Research, forecast that the global market is expected to reach $7,271 Million by 2024 from $5,098 Million in 2016, growing at a CAGR of 4.5% from 2016 to 2024. By geography, Asia-Pacific and Europe are expected to grow at a CAGR of 4.9% and 4.6%, respectively, during the forecast period.
"Hospital Bed Market (By Application: General Purpose Bed, Pressure Relief Beds, Birthing Beds, Bariatric Beds, Pediatric Beds, and Others; By Type of Treatment: Into Long-Term Care Beds, Critical Care Beds, Acute Care Beds, and Others; By Power Type; Manual, Electric and Semi-Electric: By Geography: North America, Europe, Asia-Pacific, and RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2015-2024"
Some of the factors driving the growth of the global hospital bed market comprises, increasing number of patients with chronic diseases, high population base globally, and increasing investments in hospitals for enhanced patient’s safety & comfort. Though, high cost of these beds would restrict the adoption. Furthermore, advanced innovations in bed could offer future scope for the market players.
Application, type of treatment, power type, and geography are the major segments considered in the report. Application segment is bifurcated into general purpose bed, pressure relief beds, birthing beds, bariatric beds, pediatric beds, and others. By type of treatment, the market is categorized into long-term care beds, critical care beds, acute care beds, and others. Furthermore, power type is categorized into manual, electric and semi-electric.
General purpose beds dominated the application segment in 2016, followed by pediatric beds. By treatment type, acute care beds held the largest market share and is anticipated to dominate with the fastest CAGR during the forecast period 2016 – 2024. Moreover, manual type is expected to dominate the power type segment with largest market share and fastest CAGR.
By geography, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). Asia-Pacific accounted the largest market share in 2016, with 35.4%, and is estimated to attain fastest CAGR during the forecast period, driven by improving healthcare infrastructure, presence of largest geriatric population base, and rise in manufacturing of hospital beds. Europe accounted the second largest market share with 26% in 2016.
Major players operating in the global hospital bed market include Hill-Rom Holdings, Inc., Savion Industries Ltd, Paramount Bed Co. Ltd., Gendron, Inc., Span-America Medical Systems, Inc., LINET spol. s r.o., Getinge Group, Stiegelmeyer GmbH & Co. KG, Stryker Corporation, and Invacare Corporation, among others.