Hospital Beds Market Projected to Gain Significant Value by 2024
The segmentation of the global hospital beds market is carried out based on many aspects such as treatment, type, power, and geography.
Global Hospital Beds Market: Overview
Increase in number of patients getting admitted for the treatment of different health issues is expected to work as key driver for the expansion of the global hospital beds market. Beds play key part in the process of patient care in hospital settings, as they offer comfort and support to the patient.
The segmentation of the global hospital beds market is carried out based on many aspects such as treatment, type, power, and geography. Based on treatment, the market is divided into long term care beds, critical care beds, and acute care beds. In terms of type, the hospital beds market is bifurcated into pediatric beds, general beds, bariatric beds, birthing beds, and pressure relief beds. On the basis of power, the market is classified into manual beds, semi-electric beds, and electric beds.
The study provides intense assessment of the global hospital beds market. It gives a detailed analysis of growth opportunities, drivers, and supply-demand ratio, and other factors influencing the market growth.
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Global Hospital Beds Market: Key Drivers and Trends
Generally, older population with more than 65 years of age is at the risk of easily acquiring diffident health issues including heart disease, arthritis, Alzheimer’s diseases, respiratory diseases, diabetes, and osteoporosis. Thus with increase in number of older population across major parts of the globe, there has been increase in the hospitalized patients from this of populace pool. This factor has created prominent demand for hospital beds. As per the statistics by the National Institute on Aging, the number of older people is expected to reach 1.5 Billion, which will boost the need for more hospital beds in the upcoming years.
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Growth in the number of hospitalized patients, introduction of advanced technologies in the field, and advancing healthcare infrastructure in many developing nations are projected to work in favor of the hospital beds market growth.
Many healthcare organizations around the world are increasing the use of hospital beds with supreme quality and inclusive features. This factor is encouraging players in the global hospital beds market to invest in different product innovation activities. However, high prices of hospital beds is one of the key constraints denting the growth of the hospitals beds market.
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Global Hospital Beds Market: Geographical Analysis
In terms of region, the global hospital beds market is divided into many regions such as Asia Pacific, North America, Europe, and rest of the world. Among all regions, Europe seems to be one of the prominent market for players.
The Europe hospital beds market is estimated to maintain its dominant position during the forecast period, owing to growth in the spending in Europe’s healthcare organizations and medical industry. Moreover, the market will gather notable expansion opportunities from the North America region owing to presence of strong healthcare infrastructure. The market is likely to expand at significant pace in the Asia Pacific region on the back of presence of substantial population pool and advancing healthcare infrastructure in the developing nations including China, India, Australia, South Korea, and Japan.
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Global Hospital Beds Market: Competition Landscape
The global hospital beds market seems to be fairly fragmented in nature. Presence of many well-established companies makes the competition level in the global market for hospital beds quite intense. Players are focused on strengthening their production capabilities in order to cater to the increasing demand from many large healthcare organizations across the globe.
Getinge Group, Paramount Bed Co. Ltd., ArjoHuntleigh, LINET spol. s r.o., Hill-Rom Holdings, Inc., Stryker, Medline Industries, Inc., and Invacare Corporation are some of the key players operating in the global hospital beds market.
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