Increasing Incidence of Chronic Diseases Fuels Demand for Hospital Beds

Published Date : Apr 29, 2016

The global market for hospital beds is diverse and extremely competitive. The increasing demand for cost-efficient yet highly functional products has driven the growth of this market over the last few years. The rising incidence of chronic diseases together with the augmenting base of geriatric population is projected to boost the market significantly in the coming years. Apart from this, the technical advancements in the medical and healthcare industry, coupled with the rising expenditure on healthcare across the world, are also anticipated to propel the market growth to a great extent.

Europe Dominates Global Hospital Beds Market
Europe, North America, Asia Pacific, and the Rest of the World are the key regional markets for hospital beds. Among these, Europe has emerged as the dominant regional market, owing to the rising prevalence of chronic diseases in this region. In addition to this, the remarkable increase in the healthcare expenditure is expected to fuel the demand for hospital beds in the coming years in Europe. Here is a snapshot of how the hospital beds market is performing regionally.

  • In 2014, Europe contributed US$1.6 bn in the overall market.
  • Analysts expect Europe hospital beds market to rise at a CAGR of 3.40% during the period from 2014 to 2020 and reach an estimated value of US$2 bn by the end of 2020.
  • Asia Pacific is likely to register a healthy growth rate over the next few years, owing to the large base of the population residing in this region.

The worldwide market for hospital beds is consolidated in nature. Getinge Group, Stryker, and Hill-Rom Holdings Inc. are the leading companies in this market. Other prominent market participants are Medline, Graham-Field Health Products Inc., Savion, Tempur Pedic Int. Inc., Paramount Bed Co., Joerns Healthcare, Hard Manufacturing Co., Zhangjiagang Medycon Machinery Co. Ltd., BaKare Beds Ltd., Hebei Baiyang Bed, Sunrise Medical, MC Healthcare, Linet Group SE, Gendron Inc., Invacare Corp., NOA Medical, and ArjoHuntleigh.