Global Hospital Beds Market to Reach $4.9 Billion by 2026

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May 27, 2021, 10:15 ET

SAN FRANCISCO, May 27, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Hospital Beds - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 19; Released: May 2021
Executive Engagements: 15343
Companies: 216– Players covered include ArjoHuntleigh AB; Besco Medical; Famed ywiec; Gendron, Inc.; Hill-Rom Holdings, Inc.; Invacare Corporation; Jiangsu Saikang Medical Equipment; Joerns Healthcare LLC; Joh. Stiegelmeyer GmbH & Co. KG; Linet, spol.s r.o.; Malvestio Group; Medline Industries, Inc; Missaglia Spa; Paramount Bed Co., Ltd.; Savion Industries; Sichuan Yufeng Medical Equipment; Stryker Corporation and Others.
Coverage: All major geographies and key segments
Segments: Segment (General Purpose, Pressure Relief, Pediatric, Birthing, Other Segments); Type (Non-Intensive, Intensive); Technology (Manual, Electric, Semi-Electric)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

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ABSTRACT-

Global Hospital Beds Market to Reach $4.9 Billion by 2026
Hospital beds are a key component in the healthcare system and a highly valuable items in patient care environment. Aging population is one of the major growth drivers for hospital beds. The aging population is leading to increasing chronic diseases and attached hospitalizations, leading to demand for hospital beds. Changing demographic shift and change in disease patterns and the resultant pressure on healthcare services, is expected to stimulate demand for beds. Other factors driving demand for hospital beds include technological innovations in the medical and healthcare industry, rising middle class population and resultant demand for better healthcare infrastructure with advanced medical facilities, which are driving healthcare investments. The growing wealth of emerging nations such as India, and China, and the focus on enhancing healthcare services through increased budgetary allocations bode well for the future of hospital beds market. The private sector is expected to play an important role in addressing the demand for hospital beds. The Covid-19 pandemic has resulted in sudden surge in demand as countries across the world scamper to add additional hospital beds. The pandemic is also expected to drive increased in healthcare sector across developed as well as developed markets, leading to higher demand for hospital beds.

Amid the COVID-19 crisis, the global market for Hospital Beds estimated at US$4.1 Billion in the year 2020, is projected to reach a revised size of US$4.9 Billion by 2026, growing at a CAGR of 3.8% over the analysis period. General Purpose, one of the segments analyzed in the report, is projected to record a 3.9% CAGR and reach US$2.4 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Pressure Relief segment is readjusted to a revised 3.2% CAGR for the next 7-year period. General hospital beds are extensively used in acute and extended care facilities. The increased need for rehabilitation for drug addicts and AIDS patients, growing demand for assisted living services, and growth of home care services add to the demand for general hospital beds. Pressure relief beds comprising Air-Fluidized Beds, and Mattresses, and Low Air-Loss Beds are targeted at problems related to patient immobility such as pressure (decubitus) ulcers and pneumonia.

The U.S. Market is Estimated at $898.4 Million in 2021, While China is Forecast to Reach $555.7 Million by 2026
The Hospital Beds market in the U.S. is estimated at US$898.4 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$555.7 Million by the year 2026 trailing a CAGR of 5.8% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.7% and 4.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.6% CAGR. Expanding population, a booming middle class, and the ever growing demand and requirement for healthcare facilities are resulting in Asia emerging as the fastest growing market for hospital beds. To overcome the lack of healthcare facilities, heavy investments are being made by Asian countries to not only upgrade the existing facilities, but also construct new facilities, leading to higher demand for hospital beds.

Pediatric Segment to Reach $574.2 Million by 2026
Sales of pediatric beds are primarily dependent on pediatric disease conditions. Changing lifestyles, and rise in instances of chronic conditions, such as obesity, diabetes, and hypertension also result in high rates of hospitalization of children. In the global Pediatric segment, USA, Canada, Japan, China and Europe will drive the 4.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$326.8 Million in the year 2020 will reach a projected size of US$452.1 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$54.4 Million by the year 2026, while Latin America will expand at a 6.6% CAGR through the analysis period. More

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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world's only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

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Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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SOURCE Global Industry Analysts, Inc.