Hospital Beds Market by Product, Application, and Geography - Forecast and Analysis 2023-2027

Hospital Beds Market Forecast 2023-2027

The Global Hospital Beds Market size is estimated to grow by USD 2.32 billion between 2022 and 2027, accelerating at a CAGR of 10%. Market growth is fueled by various factors, including the escalating incidence of infectious diseases, driving demand for hospital beds. The proliferation of healthcare facilities, alongside the establishment of new hospitals, contributes to market expansion. Moreover, the aging demographic, characterized by the growing geriatric population, necessitates increased healthcare infrastructure to cater to their needs. These trends underscore the imperative for continuous investment and innovation in the market to accommodate the rising demand amid evolving healthcare challenges and demographic shifts.

What will be the size of the Market During the Forecast Period?

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Market Segmentation

This report extensively covers market segmentation by product (manual beds, semi-automated beds, and automated beds), application (intensive care, acute care, and home care), and geography (Europe, North America, Asia, and Rest of World (ROW)). It also includes an in-depth analysis of drivers, trends, and challenges. 

Market Dynamics and Customer Landscape

The market is driven by rising chronic disease prevalence, necessitating an increase in ICU beds and specialized facilities like psychiatric & bariatric care units. Demand surges for beds in ambulatory care centers and home healthcare services, particularly to accommodate older adults and patients with conditions like chronic obstructive pulmonary disease (COPD). However, challenges loom in meeting the demand amidst budget constraints and staffing shortages. Regulatory compliance with guidelines from organizations like the World Health Organization (WHO) and the Centers for Disease Control and Prevention (CDC) remains paramount amidst the evolving landscape of healthcare delivery. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

The rise in infectious diseases is the key factor driving the growth of the market. The rising prevalence of infectious diseases such as tuberculosis (TB) and COVID-19 is expected to increase the demand for hospital beds across the world. For instance, globally, 10.4 million new TB cases and 1.7 million TB-related deaths are estimated to occur every year. According to the CDC, 7,882 people were diagnosed with tuberculosis in 2021 in the US. Also, the CDC estimates that Salmonella infections lead to about 1.35 million people becoming ill, 26,500 hospitalizations, and 420 deaths in the US annually. The growing prevalence of infectious diseases can result in severe illness and hospital admissions, which is likely to drive the demand.

An increase in infectious diseases drives admission rates in healthcare facilities. To meet the high demand from healthcare facilities, manufacturers and suppliers are introducing advanced products and increasing market penetration through efficient distribution networks. The rising incidence of infectious diseases has prompted suppliers and manufacturers to expand their market reach and enter emerging markets. These factors will also drive market growth during the forecast period.

Significant Market Trends

The rising number of medical emergencies is the primary trend in the market growth. The rise in medical emergencies caused by outdoor accidents, industrial accidents, wars, fire breakouts, and natural calamities has been forcing healthcare providers to improve their readiness to address emergency situations. To provide advanced services and advanced equipment such as electric and advanced hospital mattresses, healthcare facilities are upgrading their capabilities in terms of intensive care, critical care, acute care, and surgical treatment facilities, which are highly needed during the treatment of medical emergencies. Hospitals and other healthcare emergency centers are taking increased precautions and are providing the required facilities to address medical emergencies.

Furthermore, they are purchasing various medical supplies, such as automated beds, to ensure patient comfort and safety. Automated beds are used in these facilities, as they can be folded near the head and leg of the patient. Semi-automated beds are used in acute care facilities, while long-term care in hospitals and home care facilities require manual hospital beds. The growth of emergency departments to meet the rising medical emergencies drives the demand. The manufacturers of these products are meeting these demands by expanding their production volume, which will drive the growth of the market during the forecast period.

Major Market Challenge

The high cost of automated hospitals beds is a major challenge to the growth of the market. The stringent regulatory scenario in various countries increases the investment in meeting product quality and operation standards and minimizing the risk associated with the manufacturing and use of these products. This can increase the overall cost of production for manufacturers. To minimize the cost and generate profit, manufacturers follow a premium pricing strategy, which, however, increases the cost of the product. Weak distribution channels in rural markets, which are operated and controlled by local suppliers, will also increase product costs due to the lower order value and consumption volumes in these markets.

While the high price of these products is affordable for customers in developed markets with higher disposable income, it is an obstacle for consumers in rural and underdeveloped markets as they depend on government regulations on supply and distribution. The subsequent lower product penetration will limit the number of customers and the consumption volume in developing markets and pose a challenge to the growth of the market during the forecast period.

Customer Landscape

The report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market research report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.

 Customer Landscape

Who are the Major Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Agiliti Inc. - The company offers hospital beds named Evolution bed with free mobility, geriatrics, safe patient handling, fall prevention, and caregiver injury prevention.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

• Amico Group of Companies
• Baxter International Inc.
• Besco Medical Ltd.
• Getinge AB
• GF Health Products Inc.
• Hill Rom Holdings Inc.
• Invacare Corp.
• Joerns Healthcare LLC
• LINET Group SE
• Lojer Oy
• Malvestio Spa
• Medline Industries LP
• PARAMOUNT BED HOLDINGS Co. Ltd.
• Savaria Corp.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

What is the Fastest-Growing Segments in the Market?

The market is influenced by various factors, including the rising prevalence of chronic diseases like Chronic obstructive pulmonary disease (COPD) and the need for adequate healthcare infrastructure to accommodate patients. Ambulatory care centers and home healthcare services are increasingly vital, especially for older adults and those requiring psychiatric & bariatric care. Government agencies like the World Health Organization (WHO) and the Centers for Disease Control and Prevention (CDC) play crucial roles in guiding healthcare policies, including the allocation of resources such as ICU beds to address acute conditions like Acquired immunodeficiency syndrome. Collaboration between healthcare providers and regulatory bodies like the Texas Health and Human Services Department is essential for ensuring optimal healthcare delivery in the face of evolving noncommunicable diseases challenges.

The market share growth by the manual beds segment will be significant during the forecast period.  The demand increased in developing countries such as Nigeria for the treatment of COVID-19 patients in early 2020. According to Europa, about 3,382 and 1,621 cases were observed in Algeria and Cameroon, respectively, in 2020. Due to low economies in these countries, the demand for manual hospital beds increased as automated and semi-automated hospital beds are more expensive than manual hospital mattresses. 

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The manual beds segment was valued at USD 1.35 billion in 2017 and continue to grow by 2021. Manual beds were the largest segment of the market and will continue to remain the largest segment during the forecast period. Manual beds are widely used in healthcare facilities, especially in less developed regions where sophisticated healthcare facilities are not available. They are used in both acute care and home care, which continuously increase with the growth of healthcare facilities.  With the shortage of advanced medical facilities and the low cost of manual beds, healthcare providers in rural areas depend on manual hospital mattresses. In Asia and ROW, booming multispecialty and super specialty hospitals can accommodate long-term care patients, which drives sales in developing countries of APAC, such as India and China. The favorable market conditions and increased market demand in regional markets are supporting the growth of local manufacturers, which drives market expansion. However, the growth of local market players is intensifying the competition and becoming an obstacle for global market players in terms of cost advantages and profit margin.

Which are the Key Regions for the Market?

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North America is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Owing to the growing geriatric population and increasing prevalence of chronic diseases such as cancer and hypertension, an increase in the number of hospital mattresses was observed in the region. In 2022, Germany had the highest proportion of intensive care beds among high-income nations and the highest overall hospital capacity in Europe, despite reform efforts to lower hospital capacity. The high percentage of aged inpatients can be attributed in large part to the German hospital system's capability. Long-term care and treatment are provided to people suffering from chronic diseases such as cancer and heart ailments, elderly people, or those with disabilities. Thus, with the increasing prevalence of chronic diseases, the demand for hospital beds is expected to increase, which, in turn, will boost the growth of the regional market during the forecast period.

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Product Outlook 
  • Manual beds
  • Semi-automated beds
  • Automated beds

• Application Outlook 
  • Intensive care
  • Acute care
  • Home care

• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • ROW
    • Australia
    • Argentina
    • Rest of the world

Market Analyst Overview

The market witnesses significant growth driven by rising cases of Cardiovascular diseases (CVDs) and other Noncommunicable diseases (NCDs). With an aging population and increasing healthcare spending, demand for advanced beds like Semi-Electric and Smart beds surges. Technological advancements, including respiration rate monitoring and heart rate monitoring devices, enhance patient care and therapy choices. Investments in medical equipment, such as vital-sign bed sensors from EarlySense, reflect the market's expansion. Moreover, the rise of medical tourism and the need for specialized equipment like neurosurgical devices and spinal devices further propel the hospital beds industry, addressing the needs of a diverse patient population amidst challenges like chronic illness prevalence and the threat of virus carriers.

Market Scope
Report Coverage	Details
Page number	168
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 10%
Market growth 2023-2027	USD 2.32 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	7.93
Regional analysis	Europe, North America, Asia, and Rest of World (ROW)
Performing market contribution	North America at 42%
Key countries	US, Canada, China, India, Germany, and UK
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	Agiliti Inc., Amico Group of Companies, Baxter International Inc., Besco Medical Ltd., Getinge AB, GF Health Products Inc., Hill Rom Holdings Inc., Invacare Corp., Joerns Healthcare LLC, LINET Group SE, Lojer Oy, Malvestio Spa, Medline Industries LP, PARAMOUNT BED HOLDINGS Co. Ltd., Savaria Corp., Savion Industries, Stiegelmeyer GmbH and Co. KG, Stryker Corp., Taleb Medical, and ANTANO GROUP S.R.L.
Market dynamics	Parent market growth analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.
Customization purview	If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market between 2023 and 2027
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market industry across Europe, North America, Asia, and Rest of World (ROW)
• Thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of market companies

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