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HEALTHCARE & PHARMACEUTICAL

Hospital Beds and Supporting Equipment Market Analysis by Product (Bed and Other Accessories); by Facility (Home Care, Critical, Curative, Long-Term, Bariatric, and Others); by Technology (Manual and Power); and by End-User (Rehabilitation Centers, Hospitals, Nursing Homes, and Others)– Global Supply & Demand Analysis & Opportunity Outlook 2022-2031

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • May 24, 2022Invacare Corporation to launch its patient lift, Birdie Evo XPLUS, in the USA. Birdie Evo XPLUS is an enhanced patient lift that provides comfort and required assistance for the post-acute setting with its upgraded modern design to the patients.

  • November 16, 2021 - Joerns Healthcare LLC. Collaborates with Biointellisense, Inc. to develop and launch BioButton and BioSticker that wearable medical devices to be utilized by patients in the long-term and post-acute settings.  

Global Hospital Beds and Supporting Equipment Market Size, Forecast, and Trend Highlights Over 2022 - 2031

Hospital Beds and Supporting Equipment Market Forecast Chart

The global hospital beds and supporting equipment market is estimated to garner significant revenue by the end of 2031 by growing at a CAGR of ~8% over the forecast period, i.e., 2022 – 2031. Further, the market generated noteworthy revenue in the year 2021. The growth of the market can be ascribed to the rising demand for technically enhanced beds in hospitals. For instance, the number of beds per 1000 people is suggested to be a minimum of 3 by the World Health Organization (WHO) while many developing countries remain to have 1 to 2 beds per 1000 people. Hence, the prevalence of the demand for beds in hospitals is projected to be a major growth factor of the market over the forecast period.  

Hospital Beds and Supporting Equipment Market Overview Chart

Furthermore, the global hospital beds and supporting equipment market is further projected to grow on the back of a large number of people shifting from hospitals to homes due to the higher cost of hospital facilities. For instance, over 30 million hospital discharges are observed annually in the USA. The higher investment to make smart hospitals is considered to be one of the major global hospital beds and supporting equipment market trends over the forecast period. As a result, the demand for beds and other supporting equipment is spurred in the recent decade. Thereby, all these factors are estimated to push the growth of the market during the forecast period.

Global Hospital Beds and Supporting Equipment Market: Growth Drivers and Challenges

Growth Drivers

  • Spiking Geriatric Population Across the Globe- As of 2021, the figure for the global geriatric population was stated to be 747,238,580 by the World Bank.

  • Higher Prevalence of Chronic Diseases- The annual rate of death due to chronic diseases is observed to be around 40 million people, followed by cardiovascular (18 million), respiratory diseases (4 million), cancer (9 million), and others. Chronic disease refers to a medical condition that can last for more than 1 year. Chronic diseases require constant medical care and therapies. Major chronic diseases such as heart diseases, diabetes, influenza, pneumonia, kidney diseases, and septicemia are found at a higher rate among the global population. Hence, such a high prevalence of these diseases is projected to hike the growth of the market over the forecast period.

  • Escalating Hospitalization Rate Globally - The hospitalization rate in 2022 was higher due to COVID-19, the number of people hospitalized in the USA was nearly 150,000 while in Italy the number was estimated to be around 19,000.

  • Mounting Adoption of Healthcare Automation- As of 2020, approximately 85% of healthcare organizations have installed AI and automation strategies into their facilities.

  • Spiking Healthcare Expenditure Per Capita- Based on the data provided by the World Bank, in 2019, the healthcare expenditure per capita was stated to be 1,121.9 worldwide.

Challenges

  • High Cost Associated with the Required Devices
  • Lack of Necessary Technology
  • Shortage of the Beds and other Equipment

The global hospital beds and supporting equipment market is segmented and analyzed for demand and supply by facility into home care, critical, curative, long-term, bariatric, and others, out of which, the curative segment is expected to acquire the largest share in the market over the forecast period. The growth of the segment is accounted to the escalating cases of infectious diseases and physical injuries. For instance, the death occurring due to infectious diseases per day is projected to be around 45,000 million.

Major Macro-Economic Indicators Impacting the Market Growth

Hospital Beds and Supporting Equipment Market Regional Growth Chart

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Hospital Beds and Supporting Equipment Market Regional Synopsis

Regionally, the global hospital beds and supporting equipment market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in the Europe region is projected to hold the largest market share by the end of 2031. The growth of the market in the region can be attributed to the growing geriatric population with a significant number of chronic diseases. In 2019, approximately 90 million people in Europe were observed to be aged 65 or above. Moreover, ongoing advancements in medical technology and the rising manufacturing of hospital beds in the region are further estimated to propel the growth of the market over the forecast period. For instance, more than 2 million hospital beds were available across Europe in 2018. All these factors are anticipated to foster the growth of the market over the forecast period.

Hospital Beds and Supporting Equipment Market Share Chart

The global hospital beds and supporting equipment market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global hospital beds and supporting equipment market includes the following segments:

 

By Product

  • Bed
  • Other Accessories

 

 

By Facility

  • Home Care
  • Critical
  • Curative
  • Long-Term
  • Bariatric
  • Others

 

By Technology

  • Manual
  • Power

By End-User

  • Rehabilitation Centers
  • Hospitals
  • Nursing Homes
  • Others

 

Top Featured Companies Dominating the Global Hospital Beds and Supporting Equipment Market

  • Paramount Bed Co., Ltd.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Hill-Rom Services, Inc.
  • Stryker Corporation
  • Invacare Corporation
  • Joerns Healthcare LLC.
  • LINET Group, SE
  • Medline Industries, LP
  • Gendron, Inc.
  • Savaria Corporation
  • Antano Group S.R.L.

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