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The hospital beds market size is forecast to increase by USD 2.31 billion at a CAGR of 9.35% between 2023 and 2028. 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.
It also includes an in-depth analysis of market trends and analysis, market growth analysis and challenges. Furthermore, the report includes historic market data from 2018 - 2022.
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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 2023 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.
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.
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.
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.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Market Customer Landscape
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 research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market encompasses a wide range of products and services, including mental hospitals and clinics, that cater to the unique needs of patients. One significant segment of this industry focuses on the production and supply of hospital beds, such as electric beds and semielectric beds. These beds are increasingly popular among the elderly population, who often require additional support and comfort due to chronic illnesses and mobility issues. The market also extends to the medical tourism market, where patients from different parts of the world seek specialized care for various conditions, including diabetes. As part of their product portfolios, medical equipment divisions continually release new product offerings to meet the evolving demands of healthcare providers and patients. Moreover, the hospital beds industry is witnessing numerous developments, with advancements in medical equipment division extending beyond hospital beds, Mental hospital. For instance, there is growing interest in navigation systems, endoscopic and communications systems, surgical instruments, Acquired immunodeficiency syndrome, emergency medical equipment, and neurovascular devices. These technologies aim to enhance the overall patient experience and improve clinical outcomes. Additionally, the casket business, while not directly related to hospital beds, is an essential aspect of the healthcare industry and often intertwined with market trends. As the global population ages and the prevalence of chronic illnesses continues to rise, the demand for innovative and effective hospital bed solutions is expected to remain strong.
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 1.42 billion in 2018. 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.
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Asia is estimated to contribute 44% 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.
Another region offering significant growth opportunities to vendors is North America. 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 is expected to increase, which, in turn, will boost the growth of the regional market during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
Electrical Hospital Beds Market: Electrical Hospital Beds Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Canada, Germany, UK, China - Size and Forecast
Hospital Furniture Market: Hospital Furniture Market Analysis North America, Europe, APAC, Middle East and Africa, South America - US, Canada, China, Germany, UK - Size and Forecast
Medical Mattresses Market: Medical Mattresses Market Analysis Asia, North America, Europe, Rest of World (ROW) - US, Germany, UK, China, Japan - Size and Forecast
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.
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Market Scope |
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Report Coverage |
Details |
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Page number |
172 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.35% |
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Market growth 2024-2028 |
USD 2.31 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
8.34 |
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Regional analysis |
Europe, North America, Asia, and Rest of World (ROW) |
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Performing market contribution |
Asia at 44% |
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Key countries |
US, UK, Germany, Canada, China, and India |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Agiliti Inc., Amico Group of Companies, ANTANO GROUP S.R.L., Baxter International Inc., Besco Medical Ltd., Getinge AB, GF Health Products Inc., Invacare Corp., Joerns Healthcare LLC, Lojer Oy, Malvestio Spa, Medline Industries LP, PARAMOUNT BED HOLDINGS CO. LTD., Savaria Corp., Savion Industries, Stiegelmeyer GmbH and Co. KG, Stryker Corp., and Taleb Medical |
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Market dynamics |
Parent market analysis, Market forecast, 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 |
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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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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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