In terms of revenue, Global Medical Beds Market was valued at US$ 2978.0 million in 2018 and is anticipated to reach US$ 4750.0 million by 2029, growing at a CAGR of 5.3% over the forecast period. The past few decades have witnessed scientific achievements and technological advancements in the medical beds industry. The growing need to provide acute care services within the comfort and convenience of homecare is increasing the demand for manual and semi-electric medical beds. The gaps in healthcare coverage coupled with rise in geriatric population across developed and developing countries is further influencing the Medical Beds Market growth. China, as a part of its “five-year plan”, has targeted to add more than 85,000 hospital beds by 2020. Developing countries too are proactively working towards enhancing their healthcare infrastructure. India, in order to achieve the minimum mandate for hospital beds, is estimated to increase its capacity and add more than 2.5 million beds in the coming years.
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Key players operating in this Medical Beds Market include Arjo., Hill-Rom Sercices, Inc, Paramount Bed Co. Ltd, Invacare Corporation and Besco Medical among others.
The Medical Beds Market participants are investing towards manufacturing of medical beds, specifically designed for convalescent homes and private residences. Arjo, a medical technology company, offers a distinct range of medical beds for application in homecare settings. The bed is equipped with advanced power-driven profiling system and other prominent features allowing a comfortable independent stay to the patients and enhanced convenience to the care givers. The rising incidences of chronic diseases largely triggered by change in lifestyle, is creating Medical Beds Market expansion opportunities for medical beds manufacturers across various regions globally. Furthermore, the Medical Beds Market is also attracting lucrative investments owing to favorable government policies. Government bodies globally are mandating the minimum requirement for the number of beds to be made available in both, private and public hospitals. The same is expected to proliferate the market growth over the forecast period.
Key Findings of the Report:
- North America Medical Beds Market held more than 20% of total market share in 2018. Increasing popularity of home healthcare is driving the demand for medical beds in the region
- Asia Pacific Medical Beds Market is poised to expand with fastest CAGR of over 8% during the forecast period. Establishment of new healthcare facilities and expansion of existing ones will result in tremendous demand for various medical bed categories in coming years.
- India Medical Beds Market and China Medical Beds Market will be highly responsible for robust growth in Asia Pacific region
- Rising adoption of medical treatments at homecare settings and increasing number of private hospitals are expected to further boost the investments in this sector, thereby fueling the Medical Beds Market growth.
Global Medical Beds Market
By Product Type
- Bariatric Bed
- Long-term Care Bed
- Psychiatric Care Bed
- Acute Care Bed
- Others
By Bed Type
- Manual
- Semi-electric
- Full Electric
- Specialty Hospital Beds
By End Users
- Hospitals
- Homecare Settings
- Others
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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