July 16, 2024
Hospital Beds

Rising Demand for Electric Hospital Beds Driving Growth of Hospital Beds Market  

A) Market Overview:

The global Hospital Beds Market is estimated to be valued at US$ 4,151.9 million in 2022 and is expected to exhibit a CAGR of 6.3% over the forecast period 2022-2030. The market is witnessing significant growth due to the rising demand for electric hospital beds. These beds provide advanced features such as adjustable height, remote-controllable functions, and increased patient comfort, driving their adoption in various healthcare settings.

Major obstacles in market: However, the high cost of electric beds and limited budget allocation in developing countries hinder their widespread adoption, posing a challenge to market growth.

B) Market Key Trends:

Electric Hospital Beds – Revolutionizing Patient Care
One key trend in the Hospital Beds Market Size is the growing adoption of electric beds. These beds offer numerous advantages over traditional manual beds, such as enhanced patient comfort and convenience. The ability to adjust the bed’s height, backrest, and leg positions allows healthcare professionals to provide optimal positioning for patients, reducing the risk of pressure ulcers and improving patient outcomes.

For example, the electric hospital beds offered by Stryker come equipped with features like power-washable surfaces, battery backup systems, and intuitive controls for ease of use. Such innovations in electric beds are driving their demand and contributing to the growth of the hospital beds market.

C) Segment Analysis:

The hospital beds market is segmented based on the type of bed. The electric beds segment dominates the market due to the increasing demand for advanced healthcare infrastructure and the rising geriatric population. Electric beds provide better patient comfort and ease of use for healthcare professionals, contributing to their dominance in the market.

Additionally, within the electric beds segment, the acute care beds sub-segment is expected to hold a significant market share. These beds are specifically designed for patients with acute medical conditions requiring specialized care. The increasing prevalence of chronic diseases and the need for intensive care units in hospitals are driving the demand for acute care beds.

D) Key Takeaways:

Market size related content: The global hospital beds market is expected to witness high growth, exhibiting a CAGR of 6.3% over the forecast period. The increasing demand for electric hospital beds, driven by the need for advanced features and patient comfort, is a major driver of market growth. For instance, Medline Industries offers electric beds with features like integrated scales, auto-contour capabilities, and patient monitoring systems, providing added value to healthcare providers.

Regional analysis: North America is expected to be the fastest-growing and dominating region in the hospital beds market. This can be attributed to the presence of advanced healthcare infrastructure, increasing healthcare expenditure, and a high prevalence of chronic diseases in the region. Additionally, favorable reimbursement policies and government initiatives to improve healthcare facilities further support market growth in North America.

Key players related content: Key players operating in the global hospital beds market include Stryker, Hill-Rom Holdings, Inc., Getinge AB, Invacare Corporation, and Medline Industries, Inc. These companies focus on strategic collaborations, product launches, and acquisitions to maintain their market position. For instance, Hill-Rom Holdings recently acquired Voalte, a cloud-based communication platform, to enhance its digital solutions for healthcare providers.

In conclusion, the rising demand for electric hospital beds is driving the growth of the hospital beds market. These beds offer advanced features that enhance patient comfort and enable efficient care delivery. Despite challenges such as high costs and limited budgets in developing countries, the market is expected to witness significant growth over the forecast period. Key players in the market are actively involved in product innovation and strategic partnerships to maintain their market presence.