Hospital Beds Market

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Global Hospital Beds Market Is Estimated To
Witness High Growth Owing To Rising Number of
Hospitals The global hospital beds market is
estimated to be valued at US4,151.9 million in
2022 and is expected to exhibit a CAGR of 6.3
over the forecast period 2022-2030, as
highlighted in a new report published by
Coherent Market Insights. A) Market Overview
The hospital beds market includes various types
of beds used in healthcare facilities for patient
care and treatment. These beds are equipped with
advanced features such as adjustable height,
backrest, and leg rest, ensuring patient comfort
and improving the efficiency of healthcare
services. The rising prevalence of chronic
diseases and the growing number of hospitals and
healthcare facilities globally are driving the
demand for hospital beds. In addition, the
increasing geriatric population and advancements
in medical technology are also contributing to
market growth. B) Market Dynamics The hospital
beds market is driven by two main factors the
increasing prevalence of chronic diseases and
the rising number of hospitals. 1. Increasing
Prevalence of Chronic Diseases The global burden
of chronic diseases, such as cardiovascular
diseases, cancer, and respiratory diseases, is
increasing significantly. According to the World
Health Organization (WHO), chronic diseases are
the leading cause of mortality globally,
accounting for around 70 of all deaths. These
conditions often require extended hospital stays
and specialized care, leading to a higher demand
for hospital beds. 2. Rising Number of
Hospitals The growing population and increasing
healthcare expenditure have led to the
establishment of new hospitals and healthcare
facilities. This expansion of healthcare
infrastructure requires a higher number of beds
to accommodate patients. Moreover, with the
rising focus on patient comfort and the
implementation of regulations related to patient
safety, hospitals are investing in modern and
technologically advanced beds, further driving
market growth. C) Segment Analysis The
hospital beds market can be segmented based on
type and end-user. In terms of type, electric
beds are dominating the market due to their
advanced features and ease of use. These beds
allow patients to adjust the height, backrest,
and leg rest with the help of electric motors,
providing comfort and convenience. Electric beds
also help healthcare professionals in patient
transfer and care, reducing the risk of
injuries. In terms of end-user, hospitals are
the major consumers of hospital beds. The
increasing number of hospitals and the need to
accommodate a higher patient volume contribute to
the dominance of this segment. D) PEST
Analysis
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1. Political The healthcare sector is highly
regulated, with various governmental policies and
regulations impacting the procurement and usage
of hospital beds. These regulations aim to
ensure patient safety and quality of care. 2.
Economic The growing healthcare expenditure and
increasing investments in healthcare
infrastructure are driving the demand for
hospital beds. Additionally, the economic
stability of a region influences the
affordability and accessibility of healthcare
services, including beds. 3. Social The aging
population and the rising prevalence of chronic
diseases are influencing the demand for hospital
beds. Moreover, changing lifestyles and
increasing awareness of healthcare services
among individuals are also contributing to market
growth. 4. Technological Advancements in
medical technology have led to the development of
innovative and technologically advanced hospital
beds. These beds are equipped with features such
as remote control, electronic monitoring
systems, and pressure relief mechanisms,
improving patient comfort and safety. E) Key
Takeaways 1. The global hospital beds market is
expected to witness high growth, exhibiting a
CAGR of 6.3 over the forecast period, due to
the increasing prevalence of chronic diseases and
the rising number of hospitals. 2. North
America is expected to be the fastest-growing
region in the hospital beds market, driven by
the presence of well-established healthcare
infrastructure and a high adoption rate of
advanced medical technologies. 3. Key players
operating in the global hospital beds market
include Stryker, Hill-Rom Holdings, Inc.,
Getinge AB, Invacare Corporation, Medline
Industries, Inc., LINET., EarlySense, Max
Healthcare, Eqova Healthcare, Compass Health
Brands, Stiegelmeyer GmbH Co. Kg, Antano Group
S.R.L, Amico Corporation, and Midmark
Corporation. These companies are focusing on
product innovations, mergers and acquisitions,
and strategic collaborations to strengthen their
market presence and gain a competitive edge.