The global hospital bed market will grow at a CAGR of 5.9% during 2021-2027 owing to the increased geriatric population, the prevalence of chronic diseases, the rising rate of hospitalization due to the COVID-19 pandemic, increased number of well-equipped, well-furnished, and advanced infrastructure hospitals, and launch of technologically developed beds will propel the growth of the hospital bed market. However, the rising popularity of minimally invasive surgeries and availing ambulatory surgical and healthcare centers by patients, and decreased funding for public hospitals mar result in less adoption of advanced beds that may hamper the growth of the hospital beds market.

The COVID-19 outbreak has shown a positive outlook on the hospital bed industry as an increased number of COVID-19 patients globally led to the increased demand for hospital beds. Moreover, companies are launching new products to meet the growing demands. For example, Stryker Corporation has developed a low-cost, limited-release emergency medical bed to help healthcare providers with efficient care during the COVID-19 outbreak.

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Based on treatment, the critical care unit dominates the hospital bed market owing to the rising number of accidents that requires a high rate of admission in the ICU, increased geriatric population, and sudden outbreak of life-threatening infectious disease will contribute to the growth of the critical care unit in the hospital bed market.

Asia-Pacific is anticipated to have the fastest growth in the hospital bed market owing to the accelerated economic growth in many developing countries, increased government emphasis on the healthcare sector, the growing prominence of infectious diseases, an outbreak of COVID-19, and investment & funding by the government bodies to expand healthcare facilities will fuel the growth in the region.

In February 2021, Stryker has announced its EMEA launch to offer a completely wireless hospital bed, ProCuity. It is a versatile, low-height bed for patient care and is in MedSurg unit, ICU, among others. It enhances nurse workflow efficiencies and safety and provides wireless connectivity.

The prominent players in the hospital bed industry include 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.

Source: VynZ Research