Hospital Bed Market – Analysis and Forecast To 2024 | Merivaara Corp., Getinge AB, Midmark Corporation.

The global hospital bed market is expected to grow at a CAGR of 4.9% during the forecast period with its market size predicted to reach USD 3.7 billion by 2024. The global hospital bed market is anticipated to be driven by the factors such as the increasing prevalence of chronic diseases, technological advancements, the rise in cases of lifestyle diseases, growing geriatric population, and developing healthcare infrastructure. Different type of medical beds such as general beds, bariatric beds, pediatric beds, and birthing beds are majorly contributing to the hospital bed market size, globally.

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The mounting inclination of home care and technological advancement in ICU beds are also facilitating the growth of the hospital bed market.

The decreasing number of beds in public hospitals, elevated price of hospital beds, and serious instances related to hospital beds are the major challenges for the growth of hospital bed market.

Globally, the manufacturing companies trying to enter the hospital bed market are required to maintain stringent regulatory standards. Moreover, the high level of capital requirement also poses a major barrier to the entry of new players. This offers an edge to the established players in the industry competition.

Asia-Pacific is observed to witness the fastest growth in the hospital bed market, due to the mounting occurrence of chronic diseases. In addition, escalating medical tourism, refining healthcare infrastructure, and expanding geriatric population are also creating a positive impact on the hospital bed industry growth in the region.

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Key players in the hospital bed market are catering to the demand of these devices by investing in technologically advanced products in their product portfolio across the globe. In January 2017, Getinge Group, introduced Total Lift Bed from VitalGo Systems to expand its portfolio of patient mobility products in the U.S. Stiegelmeyer GmbH & Co. Kg, Stryker Corporation, Medline Industries, Inc., Invacare Corporation, Paramount Bed Holdings Co., Ltd., Hill-Rom Holdings, Inc., Merivaara Corp., Getinge AB, Midmark Corporation, Linet Spol. S.R.O and Antano Group S.R.L are the key players offering hospital bed.

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