Hospital Beds Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 4.02 Billion |
| Market Size (2029) | USD 5.36 Billion |
| CAGR (2024 - 2029) | 5.91 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Hospital Beds Market Analysis
The Medical Beds Market size is estimated at USD 4.02 billion in 2024, and is expected to reach USD 5.36 billion by 2029, growing at a CAGR of 5.91% during the forecast period (2024-2029).
The increasing geriatric population, coupled with the rising incidence of chronic diseases such as cancer, is leading to more hospitalizations. This trend is poised to propel market growth. Gallbladder cancer, often diagnosed only at an advanced stage, highlights the urgency. Early detection occurs in 20% of cases. For instance, the American Cancer Society reported in March 2024 that there were an estimated 12,350 new diagnoses of gallbladder cancer, with 5,900 cases in men and 6,450 in women. This significant cancer burden heightens hospitalization risks and amplifies the demand for medical beds, driving market expansion.
Hospital beds are pivotal in patient care and recovery, serving facilities from hospitals to long-term care centers. With the elderly population rising, there is an escalating demand for healthcare services and infrastructure tailored to their unique needs. This demographic shift poses challenges and opportunities for healthcare providers and hospital bed manufacturers. For instance, projections indicate that the American population aged 65 and older will rise from 58 million in 2022 to 82 million by 2050, a 47% increase. Consequently, their representation in the total population is set to climb from 17% to 23%. Thus, as the global geriatric population swells, so does the demand for hospital beds, especially for specialized care and long-term accommodations.
Technological advancements in medical beds, alongside a growing number of hospitals, are set to stimulate market growth further. For instance, in June 2022, the International Finance Corporation teamed up with Egyptians for Health Care Services (EHCS) to bolster the construction and operation of CapitalMed, a vast medical hub near Cairo, aiming to elevate Egypt's healthcare services. Such new medical establishments amplify the demand for medical beds, driving market growth.
However, challenges loom with the high costs of medical beds and a dwindling number of beds in public hospitals, potentially stunting market growth.
Hospital Beds Market Trends
Manual Beds are Expected to Witness a Healthy Growth in the Market During the Forecast Period
Manual medical beds with manual cranks allow adjustments for optimal patient comfort. These beds, favored for their resistance to motor failures, cost-effectiveness, and user-friendly mechanisms, are projected to drive segment growth in the coming years.
Moreover, the escalating prevalence of chronic diseases, coupled with an expanding elderly demographic, is poised to propel market growth. For context, the United Nations DESA's World Population Prospects 2022 highlighted that in 2022, 771 million individuals globally were aged 65 and above. Projections indicate a rise to 994 million by 2030 and a staggering 1.6 billion by 2050. Given that the elderly are more susceptible to chronic ailments, this demographic trend signals a heightened demand for medical services, bolstering market growth.
In a notable move, Krishna Institute, led by its CMD, announced plans in February 2024 to augment its capacity by introducing 3,000 additional hospital beds over the next three years, with an investment ranging between INR 25 and 30 billion. Such significant investments from leading institutions underscore the market's growth trajectory.
In conclusion, driven by the surging elderly population and proactive measures from industry leaders, like substantial investments in hospital beds, the market is set for robust growth in the foreseeable future.
North America is Expected to have Significant Market Share During the Forecast Period
North America is poised to command a substantial market share during the forecast period. This growth can be attributed to the region's robust healthcare infrastructure and the presence of prominent market players. Additionally, the escalating burden of cancer and other chronic diseases in North America is set to drive this market expansion further. For example, the American Cancer Society's "Cancer Facts & Figures 2023" reports an estimated 1.96 million new cancer cases in the US. Of these, 1.01 million are projected to be male and 0.95 million female. Such statistics underscore the region's significant cancer burden, heightening hospitalization risks and propelling market growth.
Also, new contracts and partnerships in North America aimed at the widespread distribution of medical beds are anticipated to bolster market growth during the forecast period. For instance, the November 2022 agreement between SFI Medical Equipment Solutions (SFI Medical), Drive Medical, and Shannex. This contract involves providing and installing over 700 hospital beds in active, long-term care (LTC) facilities spanning Atlantic Canada and Ontario. Such enhancements in healthcare services, particularly with the addition of hospital beds, are projected to invigorate the market during the forecast period.
Medical Beds Market Industry Overview
The medical bed market is fragmented and highly competitive. Market players focus on new product launches, innovations, and geographical expansion. The key market players operating in the market include Baxter International (Hillrom), Stryker Corporation, Invacare Corporation, PARAMOUNT BED CO. LTD, and Medline Industries Inc.
Medical Beds Market Leaders
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Stryker Corporation
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Invacare Corporation
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PARAMOUNT BED CO., LTD.
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Medline Industries, Inc.
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Baxter International (Hillrom)
*Disclaimer: Major Players sorted in no particular order
Medical Beds Market News
- June 2024: Noida International Institute of Medical Sciences (NIIMS) Hospital revealed a significant expansion of its hospital bed capacity within the past year, from 450 to over 750. This remarkable achievement will enhance accessibility to healthcare services for both urban and rural populations. The hospital aims to provide affordable and comprehensive medical care to all patients.
- February 2023: GMG Medical Equipment in San Diego supported hospitals by providing commercial-grade medical beds for outpatient care and people coming out of the hospital.
Medical Beds Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Geriatric Population Coupled With Rising Prevalence of Chronic Diseases
4.2.2 Technological Advancements in Medical Beds
4.3 Market Restraints
4.3.1 High Cost of Medical Beds
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value -USD)
5.1 By Type
5.1.1 Electric Medical Beds
5.1.2 Semi-electric Medical Beds
5.1.3 Manual Medical Beds
5.2 By Usage
5.2.1 Longterm Care
5.2.2 Acute Care
5.2.3 Maternity
5.2.4 Other Usages
5.3 By Application
5.3.1 Non-intensive Care
5.3.2 Intensive Care
5.4 By End User
5.4.1 Hospitals
5.4.2 Homecare
5.4.3 Other End Users
5.5 Geography
5.5.1 North America
5.5.1.1 United States
5.5.1.2 Canada
5.5.1.3 Mexico
5.5.2 Europe
5.5.2.1 Germany
5.5.2.2 United Kingdom
5.5.2.3 France
5.5.2.4 Italy
5.5.2.5 Spain
5.5.2.6 Rest of Europe
5.5.3 Asia-Pacific
5.5.3.1 China
5.5.3.2 Japan
5.5.3.3 India
5.5.3.4 Australia
5.5.3.5 South Korea
5.5.3.6 Rest of Asia-Pacific
5.5.4 Middle East and Africa
5.5.4.1 GCC
5.5.4.2 South Africa
5.5.4.3 Rest of Middle East and Africa
5.5.5 South America
5.5.5.1 Brazil
5.5.5.2 Argentina
5.5.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Baxter International (Hillrom)
6.1.2 Stryker Corporation
6.1.3 Invacare Corporation
6.1.4 PARAMOUNT BED CO. LTD
6.1.5 Medline Industries Inc.
6.1.6 Joh. Stiegelmeyer GmbH & Co. KG
6.1.7 Gendron Inc.
6.1.8 ARJO
6.1.9 Joerns Healthcare LLC
6.1.10 Linet
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Hospital Beds Industry Segmentation
As per the scope of the report, medical beds are hospital equipment intended for bedridden patients or patients who need care. Medical beds allow better positioning of patients, ease the transfer, and prevent the risk of falling out of bed. The medical beds market is segmented by type, usage, application, end user, and geography. By type, the market is segmented into electric medical beds, semi-electric medical beds, and manual medical beds. By usage, the market is segmented into long-term care, acute care, maternity, and other usages. By application, the market is segmented into non-intensive care and intensive care. By end user, the market is segmented into hospitals, home care, and other end users. By geography, the market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. For each segment, the market sizing and forecasts are made based on value (in USD).
| By Type | |
| Electric Medical Beds | |
| Semi-electric Medical Beds | |
| Manual Medical Beds |
| By Usage | |
| Longterm Care | |
| Acute Care | |
| Maternity | |
| Other Usages |
| By Application | |
| Non-intensive Care | |
| Intensive Care |
| By End User | |
| Hospitals | |
| Homecare | |
| Other End Users |
| Geography | ||||||||
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Medical Beds Market Research FAQs
How big is the Hospital Beds Market?
The Hospital Beds Market size is expected to reach USD 4.02 billion in 2024 and grow at a CAGR of 5.91% to reach USD 5.36 billion by 2029.
What is the current Hospital Beds Market size?
In 2024, the Hospital Beds Market size is expected to reach USD 4.02 billion.
Who are the key players in Hospital Beds Market?
Stryker Corporation, Invacare Corporation, PARAMOUNT BED CO., LTD., Medline Industries, Inc. and Baxter International (Hillrom) are the major companies operating in the Hospital Beds Market.
Which is the fastest growing region in Hospital Beds Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Hospital Beds Market?
In 2024, the North America accounts for the largest market share in Hospital Beds Market.
What years does this Hospital Beds Market cover, and what was the market size in 2023?
In 2023, the Hospital Beds Market size was estimated at USD 3.78 billion. The report covers the Hospital Beds Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Hospital Beds Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Hospital Beds Industry Report
The global hospital beds market is segmented by type, including electric medical beds, semi-electric medical beds, and manual medical beds. Usage segments cover long-term care, acute care, maternity, and others, while application segments include non-intensive care and intensive care. End-users of hospital beds are hospitals, homecare, and others. Geographically, the market spans North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.
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