LONDON, Sept. 6, 2016 /PRNewswire/ -- The global hospital bed market was worth $5,459.1 million in 2015, and it is expected to grow at a CAGR of 4.6% during 2016-2022. Among the various types, the general bed segment dominated the global market in 2015 with 41.4% share. Among the various treatments, the acute care bed segment accounted for the highest share of 64.0% in 2015. The market is growing with high growth rate, due to several factors, such as growing aging population, rising healthcare expenditure, increasing prevalence of chronic diseases and technological advancements in hospital beds. These beds are well equipped with certain features that allow patients to adjust the height, as well as the head and foot sections of the bed. Furthermore, these features allow better positioning of patients, improved blood circulation of patients due to movement, ease of transfer, and safety in case of patients, who are at a risk of falling out of the bed due to the presence of bed rails.
The hospital beds industry based on treatment has made huge growth in the recent years. The growing acceptance of acute care beds, critical care beds and long term beds have increased the demand for hospital beds. The critical care bed market grew at average annual growth rate of 4.6% during 2012-2015.
The increasing prevalence of chronic diseases, growth of aging population and rising healthcare expenditure is driving the growth of the market of globally. The increase in chronic diseases leads to an increase in the number of hospitalization cases, thus fuelling the demand for hospital beds. In addition, the rising healthcare expenditure worldwide leads to an improvement in the healthcare infrastructure resulting in construction and renovation of hospitals with installation of new hospital beds. Thus, this drives the growth of the global hospital beds market.
The technological advancements in hospital beds are further also escalating the market globally. Hospital beds with power mattresses for uninterrupted pressure redistribution with fitted electric motor improve blood circulation and helps in preventing the formation of bed sores. The advanced features offered by these beds make them popular and leads to the growth of the market worldwide.
The key restraint hampering the growth of the hospital bed market is their high cost. High cost of beds decreases the affordability of people in low income regions. Various hospital beds, such as electrical beds, birthing beds, bariatric beds, and critical care are extremely expensive, which makes them unaffordable for hospitals with limited budget allocated for healthcare. In developing countries, such as India, China, and Brazil, manual and semi-electrical beds are preferred, as compared to electric beds, owing to their low price. Some of the companies operating in the global hospital bed market include Hill-Rom Holings Inc., Getinge AB, Stryker Corporation, Invacare Corporation, PARAMOUNT BED CO., LTD, Gendron, Inc., Medline Industries Inc., Span-America Medical Systems, Inc., Savion Industries Ltd., and Linet spol. s r.o.
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