Global Medical Bed Market - Forecasts from 2024 to 2029

Global Medical Bed Market - Forecasts from 2024 to 2029

The global medical bed market is projected to grow at a CAGR of 5.14% during the forecast period to reach US$4.925 billion by 2029, up from US$3.474 billion in 2022.

The medical bed industry comprises different sorts of beds outlined for healthcare settings, like common medical beds, maternity beds, pediatric beds, weight relief beds, and bariatric beds. The market is driven by the increasing aging populace, the predominance of persistent illnesses, innovative technological progressions, and domestic healthcare patterns. General medical beds are utilized in clinics and hospitals for the care of patients, recuperation, and therapeutic procedures.

Since household beds are not legitimately maintained, therapeutic beds are built for patients who require great contamination control, cleanliness, and hygiene. In addition, medical beds are flexible in stature and allow an assortment of benefits to patients, including comfort and convenience as patients are getting treatment. Depending on the treatment, medical beds can be customized for a different of patients.

Domestic healthcare is picking up notoriety, catering to patients with chronic sicknesses, or recouping from surgeries. Long-term care facilities need an assortment of medical beds and oblige diverse inhabitants. The market is competitive, with established companies and rising players centering on advancement to upgrade persistent comfort and proficiency. Compliance with administrative measures and certifications is vital for producers and providers to guarantee product security and quality.

Diverse locales may have particular controls in administering the plan and fabricating of medical beds.Besides patients, clinic beds can advantage caregivers by permitting them to preserve ideal sanitation and cleanliness. The number of medical beds is utilized to decide the capacity and estimate of a healing center or hospital framework.

Market Drivers:

The prevalence of chronic diseases is predicted to increase the demand for medical beds.

One of the biggest growth drivers for hospital beds is the aging population. According to the United Nations, the global population of individuals aged 65 and above is rapidly increasing, with the percentage expected to rise from 10% in 2022 to 16% in 2050. By 2050, the number of individuals aged 65 or above will be twice the number of children under 5 and almost equivalent to the number of children under 12 years. Moreover, the growing elderly populace and lifestyle-caused disorders that require the utilization of medical beds for way better treatment and convenience are anticipated to drive industry extension over the projected period.

With the growing aging population, chronic illnesses and their related hospitalizations are becoming more common, expanding the demand for hospital beds. According to the National Center for Chronic Disease Prevention and Health Promotion, chronic disease, and mental health conditions fetched $4.1 trillion in yearly healthcare costs as of March 2023. Demand for medical beds is anticipated to extend as a result of changing socioeconomics and illness patterns, as well as the increased pressure on healthcare administrations and related services.
Technological advancement is expected to fuel the global medical bed market growth.

The requirement for medical beds is bound to extend as the healthcare division develops and extends around the world. The rate of increase in the medical bed industry has quickened because of innovative technological advancements, progressed healthcare foundations, and increasing research and development within the healthcare division in developing nations. Therapeutic equipment that's specialized and especially employed for a therapeutic reason has gained popularity in recent decades, and this drift is being executed within the medical bed trade as well.

Over the anticipated period, the industry is anticipated to see an increase in the advancement of specialized medical beds. The government's gigantic investment in healthcare is additionally making a difference in the market's development. For instance, in June 2022, IFC partnered with Egyptians for Health Care Services to develop CapitalMed, a medical hub on the outskirts of Cairo. The hub enhanced Egypt's healthcare system and was anticipated to include 19 specialized institutes in addition to a general hospital. An outpatient facility, a virtual care hospital, and a multispecialty hospital with more than 300 beds are all part of the first phase, which was scheduled to open in 2023. The center also contained 70 operating rooms, 700 acute care units, and nearly 4,000 beds when it was finished.

Moreover, specialized technological advancements, therapeutic bed selection, and an increment in the number of hospitals are likely to drive industry expansion through the projected period. In any case, the number of medical beds, as well as the contracting number of beds in open clinics, are anticipated to obstruct the market's growth.

The North American market is anticipated to dominate the market share.

The industry expansion in North America can be credited to the region's well-established healthcare foundation, rising diabetes predominance, and the nearness of critical medical bed market competitors. In expansion, the rising recurrence of cancer and other persistent infections within the region is anticipated to drive market growth in the coming years.

The NHE Fact Sheet from the Centers for Medicare & Medicaid Services stated that in 2022, National Health Insurance (NHI) increased 4.1% to $4.5 trillion, or 17.3% of the US GDP. While Medicaid expenditure rose by 9.6% to $805.7 billion, Medicare spending jumped by 5.9% to $944.3 billion. Spending on private health insurance rose by 5.9% to $1,289.8 billion.

Due to rising per capita healthcare investing, a developing elderly population, rising recurrence of chronic illnesses, and innovative changes within the region, North America is additionally anticipated to develop significantly amid the estimated period. The expanding number of hospital medical beds introduced in nations has been a pivotal component in North America's expansion within the global medical bed market.

Key Developments:

June 2023- LINET Group introduced the ESSENZA 300 universal nursing and hospital bed to address the global nursing staff shortage. SUSPA, a LINET partner, offers medical technology solutions for lifting, lowering, tilting, and damping. These products improve care efficiency and patient comfort through gas springs, dampers, and height adjustment systems. The ESSENZA 300 is the next step in hospital beds, allowing caregivers to relieve their daily work and preventing falls, especially for patients with illness or medication.
June 2023- Baxter International introduced the Hillrom Progressa+ bed for the ICU in the US, designed to address complex critical care needs. The bed offers new technology and features to make it easier for nurses to care for patients and support recovery. It includes in-bed percussion, vibration, and continual lateral rotation therapies to reduce pulmonary complications, enhanced support surfaces for skin protection and wound healing, and a new top cover for easier cleaning. The bed supports early patient mobility when used with an integrated lift system, minimizing the risk of clinician injury.
March 2023- Tehran inaugurated the Mahdi Clinic Hospital, the largest in the Middle East, with 1,000 beds. The 108,000 square meter, 18-story hospital was located in downtown Tehran and houses 42 outpatients, 110 emergency, and 204 critical care beds. It is the largest healthcare project launched in Iran, it uses the permanent services of 380 doctors and medical professors.

Key Market Segments:

The Global Medical Bed Market is segmented and analyzed as below:

By Type
Manual
Semi-Electric
Full Electric
Specialty Hospital Beds
By Usage
Long term Care
Acute Care
Maternity
Others
By Application
Non-Intensive Care
Intensive Care
By End-User
Hospitals
Homecare
Others
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
Germany
France
United Kingdom
Spain
Others
Middle East and Africa
Saudi Arabia
Israel
Others
Asia Pacific
China
Japan
South Korea
India
Others