Chronic Illness Boom Propel Hospital Beds Demand, Market Revenue to Hit $4.83 Billion by 2029
According to the latest report by focus reports by Arizton, the global hospital beds market 2024 – 2029 sheds light on the dynamic and rapidly evolving industry. The comprehensive report unveils valuable market trends, growth opportunities, and the competitive landscape of the business. With in-depth analysis and meticulous research, this report serves as a strategic guide for industry players, investors, and decision-makers, offering a comprehensive understanding of the current global hospital beds market dynamics and prospects.
To know more, https://www.focusreports.store/report/global-hospital-beds-market-focused-insights
The global hospital beds market was valued at USD 3.66 billion in 2023 and is projected to reach USD 4.83 billion by 2029, growing at a CAGR of 4.71% during the forecast period. The increasing prevalence of chronic diseases is leading to rising hospital admissions worldwide. This increasing hospital admissions is boosting the demand for hospital beds globally.
Surge in COVID Cases Fuels Demand for Non-Intensive Care Hospital Beds
The non-intensive care beds segment accounted for the largest market share in the global hospital beds market in 2023. Non-intensive care hospital beds are used in curative care, long-term care, rehabilitation centers, home healthcare settings, and general wards of hospitals and ambulatory care settings. Moreover, due to the COVID-19 outbreak, some patients are in the initial stage and are placed in isolation wards. These wards require non-intensive care beds as patients in such wards are not in the critical stage compared to ICU patients. Also, minor road accidents are rising, increasing hospital admission in non-intensive care, thereby boosting the demand for hospital beds across the globe. Patients admitted in emergency and critical care settings are moved to recovery rooms and general wards, where a wide range of non-intensive care hospital beds are used on a larger scale. Apart from these patients, rising live births and delivery in hospitals are expected to uplift the demand for non-intensive care beds globally during the forecast period.
Technological Innovation Uplifting the Demand for Hospital Beds Across the Global Market
Hospital beds play a vital role in the healthcare environment as they are used by caregivers mainly during the treatment of patients. These beds provide comfort to patients and assist caregivers with various technologically advanced features. Over the past decade, hospital beds have undergone a paradigm transformation driven by factors such as an elderly population, the need to reduce pressure sores, and an increase in obese patients. Many vendors are increasingly focusing on improvising the design, efficiency, and safety and incorporating additional features to provide quality care for patients while availing healthcare services in any healthcare setting. In recent years, vendors have significantly changed conceptual frameworks regarding product design, manufacturing processes, and patient accessibility. Hospital beds come with many built-in features, such as the bed's movement capability on all axes, a pre-loaded setting for CPR on a patient, and an emergency bed light. Healthcare professionals in hospitals are using electric hospital beds to treat patients with critical medical conditions, as these beds have a monitoring facility and other features of alarm and easy mobility.
Increasing Prevalence of Chronic Illnesses in Europe Boosting Hospital Beds Market Growth
The market dominance of Europe is due to the rising incidence of chronic diseases and improvements in healthcare infrastructure. For instance, over 50 million people in Europe have more than one chronic disease. Owing to a rise in hospital admissions, healthcare providers need a wide range of hospital beds, from ICU beds, general ward beds, and home care beds to rehabilitation & psychiatry beds. According to European statistics, in 2021, 2.3 million hospital beds were available across Europe. Almost three-quarters of these were for curative care, while the largest share of the remaining beds was for rehabilitative care, followed by beds for long-term care and other purposes. The region is also witnessing an increase in the average life expectancy rate, fueling various diseases' prevalence and contributing to the rise in hospital admissions.
About Focus Reports by Arizton
Welcome to Focus Reports, an esteemed Arizton Advisory & Intelligence subsidiary committed to delivering precise and insightful market research reports across all key geographies. Our unique selling proposition lies in our affordable pricing, accurate data, in-depth research, and presentation-ready reports. With us, expensive market research is outdated. We aim to be strategic, providing valuable data.
Contact Us:
Call: +1-312-235-2040
+1 302 469 0707
Mail: enquiry@arizton.com
Website: https://www.focusreports.store/