Hospital Beds Market (2024-2031)
The Hospital Beds Market was valued at $4.30 billion in 2023. This market is projected to reach $7.09 billion by 2031 from an estimated $4.58 billion in 2024, at a CAGR of 6.4% during the forecast period from 2024 to 2031. Hospital Beds Market Size & Forecast Key factors driving the growth of this
- Published
- Oct 2024
- Pages
- 245
- Format
- PDF + Excel
- Report ID
- MR-393
- Base year
- 2023
- 2023 · BASELINE
- $4.30B
- 2031
- $7.09B
- CAGR 2024–2031
- 6.4%
2023 baseline · 2024–2031 forecast at 6.4% CAGR · hover a bar for the value
Key highlights
The Beds Segment to Dominate the Hospital Beds Market in 2024
The Curative Care Segment to Dominate the Hospital Beds Market in 2024
The Critical Care Unit Segment to Dominate the Hospital Beds Market in 2024
Report summary
| Particulars | Details |
|---|---|
| Number of Pages | 245 |
| Format | |
| Forecast Period | 2024–2031 |
| Base Year | 2023 |
| CAGR (Value) | 6.4% |
| Market Size (Value) | USD7.09 Billion by 2031 |
| Segments Covered | by Product · Beds · Powered Beds · Electric Beds · Semi-electric Beds · Manual Beds · Smart Beds · Accessories · by Type of Care · Curative Care · Long-term Care · Rehabilitative Care · by Healthcare Facility · Critical Care Units · Bariatric Care Units · Long-term Care Units · Home Care Settings · Med-surg Care Units · Pediatric Care Units · Maternal Care Units · by Application · Intensive Care · Non-intensive Care · by Sector · Private · Public |
| Countries Covered | North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, Bulgaria, Romania, Belgium, Austria, Slovakia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, Singapore, Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), and the Middle East & Africa |
| Key Companies | Stryker Corporation (U.S.), Hill-Rom Holding, Inc. (Part of Baxter International Inc.) (U.S.), Invacare Corporation (U.S.), Getinge AB (Sweden), Paramount Bed Holdings Co., Ltd. (Japan), Medline Industries, LP (U.S.), Stiegelmeyer GmbH & Co. KG (Germany), LINET Group SE (Czech Republic), Joerns Healthcare LLC. (U.S.), Drive DeVilbiss Healthcare (U.S.), Savaria Corporation (Canada), Midmark Corporation (U.S.), Amico Corporation (U.S.), Famed Zywiec Sp. z o.o. (Poland), and Malvestio Spa (A Subsidiary of Malvestio Group) (Italy) |
Report overview
Segments covered: product, type of care, healthcare facility, application, sector. Regions: North America, Europe, Asia-Pacific, Latin America.
Key factors driving the growth of this market include the rising elderly population and the subsequent increase in the prevalence of chronic diseases, an increase in the number of hospitals, a growing volume of surgical procedures, and advancements in hospital bed technology. However, the shift toward minimally invasive and outpatient surgeries is expected to restrain market growth.
The growing interest in smart & robotic beds, increased demand for home care services, rising healthcare investments in developing regions, and the growth in medical tourism are expected to create growth opportunities for market participants.
Moreover, the rising adoption of automated beds for improving diagnostic accuracy, growing demand for nurse call system embedded hospital beds, and increasing demand for beds that facilitate infection control are prominent trends in this market.
Market dynamics
5 factors across 2 forcesRising Elderly Population and the Subsequent Increase in the Prevalence of Chronic Diseases
The aging population is increasing globally, primarily due to improvements in healthcare quality and rising life expectancy, which contribute to higher survival rates. According to a report by the World Health Organization (WHO), by 2030, one in six people globally will be over 60 years old. By 2050, the population aged 60 and above is projected to reach nearly 2.1 billion.
Furthermore, the number of individuals aged 80 or older is expected to rise to 426 million between 2020 and 2050. According to the United Nations and World Population Prospects. in 2022, the largest geriatric populations were found in Eastern and Southeastern Asia, followed by Europe and North America. In the coming decades, the older population is anticipated to increase significantly in Northern Africa and Western Asia, with an annual growth rate of about 3%.
This increasing aging population is contributing to a rise in the prevalence of chronic diseases. Many deaths associated with chronic diseases are linked to conditions such as cancer, cardiovascular diseases, obesity, and diabetes, which are more prevalent among older adults. According to a WHO report from February 2022, nearly 10 million cancer deaths occurred in 2020, representing approximately one in six deaths globally. Additionally, in 2020, an estimated 244.1 million people worldwide were living with ischemic heart disease (Source: American Heart Association).
Thus, the increasing elderly population and rising prevalence of chronic diseases are anticipated to drive the demand for medical/hospital beds in the coming years.
Technological Advancements in Hospital Beds
Medical beds are designed to enhance patient comfort and improve treatment outcomes. Poor posture and inadequate sleep during treatment can exacerbate or lead to various medical issues, including osteochondritis, radiculitis, compromised blood supply, insomnia, allergies, asthma, and sleep apnea. According to the National Center for Biotechnology Information (NCBI), pressure ulcers, or decubitus ulcers, are a common and serious concern for bed-bound patients. Therefore, ergonomic design factors in hospital beds are crucial for achieving optimal treatment outcomes.
Key players operating in the hospital/medical beds market are focused on launching new and technologically advanced beds. For instance:
- In March 2022, Paramount Bed Holdings, Co. Ltd. (Japan) launched the Q-Aura ONE bed for home care in Japan. These beds are manufactured using a standardized unit and feature a new mechanism that reduces body pressure and slipping.
- In October 2021, Linet Group SE (Czech Republic) launched the new generation of MULTICARE X beds at the International Symposium on Intensive Care and Emergency Medicine (ISICEM). The beds allow for intuitive patient monitoring, simplifying work for nursing staff.
- In February 2021, Stryker Corporation (U.S.) announced the EMEA launch of its wireless hospital bed, ProCuity. This bed series was designed to help reduce in-hospital patient falls at all acuity levels and improve nurse workflow efficiencies and safety.
- In August 2022, Turtle Shell Technologies Private Limited (Dozee) (India) announced the launch of a smart connected bed integrated with sensor-based technology, which uses AI to track patients’ vital parameters. This bed is intended for use in non-ICU settings to track heart & respiratory rates, body temperature, oxygen saturation, and ECG.
Thus, technological advancements are driving the development of innovative offerings, supporting the growth of the hospital/medical beds market.
Increasing Number of Surgeries
The number of surgical procedures requiring extended hospital stays of 2 to 4 days or more is rising rapidly. According to the WHO, cesarean deliveries account for approximately 21% of all births and are becoming increasingly prevalent. Additionally, an article published in The Lancet projects that the number of cancer cases requiring surgery will increase by more than 5 million—nearly 52%—from 2018 (approximately 9.1 million) to 2040 (around 13.8 million).
Furthermore, the increasing number of severe accident cases has resulted in increased hospitalization rates. According to the WHO, between 20 to 50 million people globally sustain disabilities due to accidents each year. In the U.S., approximately 6 million car accidents occur annually, and the incidence of fatal car crashes is also on the rise.
The global increase in orthopedic surgeries further contributes to the growth of the hospital and medical beds market. For instance, in India, hospital admissions for knee replacements have surged by 250% over the past five years, while more than 800,000 knee replacement procedures are performed each year in the U.S. The complex surgical requirements associated with these orthopedic procedures often lead to extended hospital stays, thereby increasing the demand for ICU and patient care beds. Thus, the rising number of surgeries is expected to drive the demand for these beds, supporting market growth.
Table of contents
12 chapters · 98 sections · 245 pages · click to expandSegmental analysis
| Segment | Largest share (2024) | Fastest growth (2024–2031) |
|---|---|---|
| By Product | Beds | Beds |
| By Type of Care | Curative Care | Long-term care |
| By Healthcare Facility | Critical Care Unit | Home care settings |
By Product
- The Beds Segment to Dominate the Hospital Beds Market in 2024
- The beds segment is expected to account for the largest share of 86.8% of the hospital beds market.
- The substantial market share of this segment can be attributed to high hospitalization rates and government initiatives aimed at improving healthcare infrastructure.
- Moreover, the beds segment is expected to register the highest CAGR during the forecast period.
- This growth is driven by several factors, including the increasing burden of chronic diseases, the proliferation of hospitals, a growing geriatric population, and government investments aimed at enhancing healthcare infrastructure in emerging countries.
By Type of Care
- The Curative Care Segment to Dominate the Hospital Beds Market in 2024
- The curative care segment is expected to account for the largest share of 75.8% of the hospital beds market.
- The demand for curative care is driven by an increase in hospital admissions for various conditions and injuries.
- For instance, research conducted by the British Cardiovascular Society found that the number of admissions for heart failure at Blackpool Victoria Hospital (U.K.) rose from 341 episodes between August 2019 and January 2020 to 415 episodes from August 2020 to January 2021, marking an increase of 22%.
- However, the long-term care segment is projected to register the highest CAGR during the forecast period.
- This growth is driven by the increasing prevalence of chronic diseases due to the aging population, as well as the convenience and affordability of hospital beds for patients requiring long-term care, whether at home or in hospitals.
By Healthcare Facility
- The Critical Care Unit Segment to Dominate the Hospital Beds Market in 2024
- The critical care units segment is expected to account for the largest share of the hospital beds market.
- Critical care encompasses services provided to patients facing immediate, life-threatening health conditions who require support systems to maintain vital organ function.
- Factors such as the high incidence of infectious and non-infectious diseases, along with severe injuries, are driving an increase in admissions to intensive care units (ICUs) and cardiac care units (CCUs), resulting in heightened demand for powered and smart beds.
- However, the home care settings segment is anticipated to record the highest CAGR during the forecast period.
- This growth is driven by factors such as an aging population, an increase in the prevalence of chronic diseases, rising healthcare expenditures, and technological advancements like wearable devices and telehealth.
- These developments are shifting the focus toward alternative treatment methods, particularly home healthcare.
Geographic analysis
Europe
Largest shareIn 2024, Europe is expected to account for the largest share of 35.2% of the hospital beds market, followed by Asia-Pacific and North America. Europe's significant market share can be attributed to several key factors, such as a growing aging population, rising incidence of chronic diseases, government initiatives to improve healthcare infrastructure, and increased healthcare expenditures. Europe Dominates the Hospital Beds Market
Asia-Pacific
Fastest growthHowever, the market in Asia-Pacific is expected to record the highest CAGR of 8.1% during the forecast period. The growth of this regional market is driven by the rising trend of medical tourism in the region, an increasing geriatric population, the presence of key players offering advanced hospital beds, and a growing demand for home care services.
Competitive landscape
- March 2022
Paramount Bed Holdings, Co. Ltd. (Japan) launched its Q-Aura ONE bed for home care in Japan. The bed comes with a standardized unit that makes up the bed frame and a new mechanism that reduces body pressure and reduces body slipping.
- February 2021
Stryker Corporation (U.S.) launched its ProCuity, a completely wireless hospital bed designed to help reduce in-hospital patient falls at all acuity levels and improve nurse workflow efficiencies and safety.
- March 2020
Hill-Rom (A part of Baxter International Inc. (U.S.) expanded its production capacity of critical care products, including hospital beds, ventilators, and vital monitoring devices to support the needs of COVID-19 patients. The expanded production capacity also includes the company's Centrella Smart+ bed, Progressa ICU bed, and the Hillrom 900 Accella and Hillrom 900 beds.
- May 2021
Stiegelmeyer GmbH & Co. KG (Germany) leased a warehouse in Poland at GLP Torun logistics center to supply its medical beds in Europe.
- October 2021
LINET Group SE (Czech Republic) launched its new MULTICARE X beds at the International Symposium on Intensive Care and Emergency Medicine (ISICEM). The beds can be monitored intuitively and help monitor patients, making the work of nursing staff easier.
- Stryker Corporation (U.S.)
- Invacare Corporation (U.S.)
- Getinge AB · Sweden
- Paramount Bed Holdings Co., Ltd. · Japan
- Medline Industries
- LP (U.S.)
- Stiegelmeyer GmbH & Co. KG · Germany
- LINET Group SE · Czech Republic
- Joerns Healthcare LLC. (U.S.)
Frequently asked questions
The hospital beds market study provides comprehensive insights, market sizes, and forecasts in terms of both value and volume for the product and geography market segments. However, it focuses solely on value-based insights, market sizes, and forecasts for the type of care, healthcare facility, application, and sector market segments.
Cite this report
Meticulous Research. (2024). Hospital Beds Market - Global Opportunity Analysis and Industry Forecast (2024-2031) (Report No. MR-393). Meticulous Market Research Pvt. Ltd. https://www.meticulousresearch.com/reports/hospital-beds-market-5091