Market Size of Medical Beds Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 5.80 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Medical Beds Market Analysis
The medical beds market is expected to register a CAGR of 5.8% over the forecast period.
The COVID-19 pandemic greatly increased hospitalization, which greatly increased the demand for hospital beds all around the world. Medical beds are a crucial component of any patient's care since they offer convenience, safety, inflection control, and risk management support. For instance, as per the study report published by Disaster Medicine and Public Health Preparedness in April 2021, given the severe COVID-19 cases in the Kingdom of Saudi Arabia, findings suggested the need for more hospital and ICU beds which increased the demand for medical beds and likely propel the market to grow during the pandemic period. However, as COVID-19 cases are decreasing the demand for medical beds is expected to be stable over the coming years.
The growing geriatric population and the rising burden of chronic diseases like cancers increase hospitalizations for treatment which is expected to fuel the market growth. For instance, as per the study published by Gastro Hep Advances in April 2022, the incidence of biliary tract cancer varied by nation, with Chile having the highest rate (14.35%) and Vietnam having the lowest rate (1.25%). Hence, the high burden of cancers increases the risk of hospitalizations and rise the demand for medical beds which is expected to drive the market to grow.
Moreover, technological advantages and the adoption of medical beds coupled with the growing number of hospitals are expected to boost market growth over the forecast period. For instance, in June 2022, International Finance Corporation partnered with private healthcare developer Egyptians for Health Care Services (EHCS) to support the construction and operation of CapitalMed, a sprawling medical hub on the outskirts of Cairo that will improve healthcare services in Egypt. The establishment of new medical hubs increases the need for medical beds which is expected to drive the market over the forecast period.
However, the high cost of medical beds and the decreasing number of beds in public hospitals are anticipated to hamper the market growth.
Medical Beds Industry Segmentation
As per the scope of the report, medical beds are hospital equipment intended for bedridden patients or patients who need care. Medical beds allow better positioning of patients, ease the transfer and prevent the risk of falling out from the bed. The Medical Beds Market is Segmented by Type (Electric Medical Beds, Semi-Electric Medical Beds, and Manual Medical Beds), Usage (Long-term Care, Acute Care, Maternity, and Others), Application (Non-Intensive Care and Intensive Care), End-User (Hospitals, Homecare, and Others) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions, globally. The report offers the value (in USD million) for the above segments.
| By Type | |
| Electric Medical Beds | |
| Semi-Electric Medical Beds | |
| Manual Medical Beds |
| By Usage | |
| Longterm Care | |
| Acute Care | |
| Maternity | |
| Others |
| By Application | |
| Non-Intensive Care | |
| Intensive Care |
| By End-User | |
| Hospitals | |
| Homecare | |
| Others |
| Geography | ||||||||
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Medical Beds Market Size Summary
The hospital beds market is poised for steady growth, driven by factors such as the increasing geriatric population and the rising prevalence of chronic diseases, which necessitate more hospitalizations. The COVID-19 pandemic significantly boosted the demand for medical beds, highlighting their essential role in patient care by providing comfort, safety, and infection control. As the pandemic's impact wanes, the demand for hospital beds is expected to stabilize. Technological advancements and the expansion of healthcare facilities, such as new medical hubs, are anticipated to further propel market growth. However, challenges such as the high cost of medical beds and a decrease in public hospital bed availability may impede progress.
North America is projected to hold a substantial share of the market, supported by a robust healthcare infrastructure and the presence of key industry players. The region's high burden of chronic diseases, particularly cancer, is expected to drive demand for hospital beds. Collaborations and acquisitions among market participants, such as Baxter International's acquisition of Hillrom, are likely to enhance product distribution and innovation. The market remains fragmented and competitive, with major players focusing on new product launches and geographical expansion to capture market share.
Medical Beds Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Geriatric Population Coupled With Rising Prevalence of Chronic Diseases
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1.2.2 Technological Advancements in Medical Beds
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1.3 Market Restraints
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1.3.1 High Cost of Medical Beds
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Type
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2.1.1 Electric Medical Beds
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2.1.2 Semi-Electric Medical Beds
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2.1.3 Manual Medical Beds
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2.2 By Usage
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2.2.1 Longterm Care
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2.2.2 Acute Care
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2.2.3 Maternity
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2.2.4 Others
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2.3 By Application
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2.3.1 Non-Intensive Care
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2.3.2 Intensive Care
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2.4 By End-User
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2.4.1 Hospitals
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2.4.2 Homecare
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2.4.3 Others
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2.5 Geography
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2.5.1 North America
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2.5.1.1 United States
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2.5.1.2 Canada
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2.5.1.3 Mexico
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2.5.2 Europe
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2.5.2.1 Germany
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2.5.2.2 United Kingdom
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2.5.2.3 France
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2.5.2.4 Italy
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2.5.2.5 Spain
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2.5.2.6 Rest of Europe
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2.5.3 Asia-Pacific
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2.5.3.1 China
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2.5.3.2 Japan
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2.5.3.3 India
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2.5.3.4 Australia
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2.5.3.5 South Korea
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2.5.3.6 Rest of Asia-Pacific
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2.5.4 Middle East and Africa
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2.5.4.1 GCC
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2.5.4.2 South Africa
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2.5.4.3 Rest of Middle East and Africa
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2.5.5 South America
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2.5.5.1 Brazil
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2.5.5.2 Argentina
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2.5.5.3 Rest of South America
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Medical Beds Market Size FAQs
What is the current Medical Beds Market size?
The Medical Beds Market is projected to register a CAGR of 5.80% during the forecast period (2024-2029)
Who are the key players in Medical Beds Market?
Stryker Corporation, Invacare Corporation, PARAMOUNT BED CO., LTD., Medline Industries, Inc. and Baxter International (Hillrom) are the major companies operating in the Medical Beds Market.
