New York, NY -- (SBWire) -- 04/24/2019 --According to a new market report published by Persistence Market Research "Global Market Study on Hospital Beds: Asia to Witness Highest Growth by 2020", the global hospital beds market was valued at USD 5,254.2 million in 2014 and is expected to expand at a CAGR of 4.2% from 2014 to 2020, to reach an estimated value of USD 6,731.8 million by 2020.
Hospital beds refer to medical equipment used to provide care to patients during their hospitalization. Special features of hospital beds, such as adjustable heights of the bed and side rails controlled by electronic buttons, make them caretaker friendly and help provide better comfort to patients. Hospital beds can be classified on the basis of usage, power, and treatment. Globally, the hospital beds market is witnessing significant growth due to increasing prevalence of chronic diseases and increasing aging population. Moreover, increasing healthcare expenditure and technological advancements in this field are driving the market. However, high costs of advanced hospital beds restrain the hospital beds market. Similarly, decreasing demand for general hospital beds in developed countries is a major concern for the market. As a result, the market is expected to grow at a CAGR of 4.2% during 2014 – 2020.
Europe has the largest market for hospital beds. This is mainly due to increasing prevalence of chronic diseases and rising healthcare spending in the region. The European market for hospital beds was estimated at USD 1,643.2 million in 2014 and is expected to reach USD 2,010.2 million in 2020, expanding at a CAGR of 3.4%. The Asian market for hospital beds is expected to increase at a significant rate due to large population base, growing hospital infrastructure, and improving reimbursement scenario in the region. On the basis of power, manual beds account for the largest and fastest growing segment. On the basis of treatment, acute care beds account for the largest segment, while critical care beds account for the fastest growing segment in the global hospital beds market.
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Hill-Rom Holdings, Inc., Getinge Group, and Stryker are some of the leading players in the global market for hospital beds. Some of the other major players in the market are Paramount Bed Co., Ltd., Invacare Corporation, and LINET spol. s r.o.
The hospital beds market is segmented as follows:
By Usage
General purpose beds
Birthing beds
Pediatric beds
Bariatric beds
Pressure relief beds
By Power
Electric beds
Semi-Electric beds
Manual beds
By Treatment
Critical care beds
Acute care beds
Long-term care beds
By Geography
North America
The U.S.
Europe
Russia
Germany
The U.K.
France
Asia
Japan
China
India
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Hospital Beds Market to Showcase Vigorous Demand During the Period Until 2020
Global Market Study on Hospital Beds: Europe to Dominate; Expected to Attain US$ 2,010.2 Mn Market Value by End of 2020