Hospital Beds Market to Reach $7.09 Billion by 2031, Growing at a CAGR of 6.4% -- Exclusive Report by Meticulous Research®

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Mar 31, 2025, 14:47 ET

Market Expansion Driven by Aging Population, Rising Chronic Diseases, and Technological Advancements

REDDING, Calif., March 31, 2025 /PRNewswire/ -- According to a new market research report titled Hospital Beds Market Size, Share, Forecast, & Trends Analysis by Product (Bed {Manual, Powered, Smart}, Accessories), Type of Care (Curative, Long Term, Med-Surg), Healthcare Facility (Critical, Homecare), Application, Sector - Global Forecast to 2031^®, the global hospital/medical beds market is expected to grow from $4.58 billion in 2024 to $7.09 billion by 2031, at a CAGR of 6.4% during the forecast period from 2024 to 2031.

Key Market Growth Drivers and Trends:

The global hospital beds market is witnessing steady growth due to the increasing geriatric population, rising prevalence of chronic diseases, and growing demand for technologically advanced medical facilities. The expanding healthcare infrastructure, particularly in emerging economies, is also fueling market growth.

According to the World Health Organization (WHO), the global population aged 60 years and older is expected to reach 2.1 billion by 2050, significantly driving demand for hospital beds in acute care and long-term care settings. Additionally, advancements in smart hospital beds with integrated patient monitoring systems are transforming patient care and hospital efficiency.

Governments across various regions are investing in hospital infrastructure and expanding intensive care unit (ICU) capacities, particularly in response to the COVID-19 pandemic's lasting impact on healthcare preparedness. The increasing adoption of home healthcare services is also propelling demand for specialized beds suitable for home settings.

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Rising Elderly Population: By 2030, one in six people globally will be over 60 years old, according to the World Health Organization. By 2050, this population is expected to reach nearly 2.1 billion.
Increasing Chronic Disease Prevalence: Nearly 10 million cancer deaths occurred in 2020, and an estimated 244.1 million people worldwide were living with ischemic heart disease.
Technological Advancements: Innovations such as Turtle Shell Technologies' AI-integrated smart beds and Stryker Corporation's wireless ProCuity hospital beds are transforming patient care.
Growing Surgical Procedures: The Lancet projects cancer cases requiring surgery will increase by 52% from 9.1 million in 2018 to 13.8 million by 2040.
Medical Tourism Expansion: The medical tourism market is projected to reach $273 billion by 2027, up from $104.68 billion in 2019.
Smart and Robotic Beds: Advanced beds with remote monitoring systems tracking patient vitals are gaining popularity in developed countries and becoming more affordable in developing regions.
Home Healthcare Growth: Increased demand for home care services is creating new market opportunities.

Hospital Beds Market Growth Opportunities and Challenges:

The rise in demand for electric and semi-electric beds, coupled with the increasing penetration of smart hospital beds integrated with IoT and AI capabilities, presents significant growth opportunities for market players. Additionally, a surge in healthcare infrastructure investments in Asia-Pacific and Latin America is expected to create lucrative opportunities for manufacturers.

Despite strong growth potential, the market faces challenges such as high costs associated with technologically advanced hospital beds, stringent regulatory compliance for medical devices, and supply chain disruptions impacting raw material availability. Moreover, the shortage of hospital beds in developing nations continues to pose a challenge to market expansion.

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Segment Insights:

By Type: The electric hospital beds segment is expected to hold the largest market share in 2024, driven by their ease of use, enhanced patient comfort, and growing adoption in critical care settings.

By Usage: Acute care beds dominate the market, accounting for a significant share due to their widespread use in hospitals and emergency care facilities.

By End User: Hospitals remain the largest end users, benefiting from government funding, healthcare infrastructure expansion, and rising patient admissions globally.

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Regional/Geographic Analysis

North America: The region holds a significant share of the global hospital/medical beds market, driven by advanced healthcare infrastructure, strong government support for hospital bed procurement, and high healthcare spending. The presence of leading market players and continuous investments in smart hospital beds further contribute to growth.

Europe: Europe is witnessing steady demand for hospital beds due to its aging population and increasing incidence of chronic diseases. Countries such as Germany, France, and the U.K. are at the forefront, investing heavily in hospital modernization and digital healthcare solutions.

Asia-Pacific: The fastest-growing region, Asia-Pacific is experiencing high demand for hospital beds due to rapid urbanization, rising healthcare expenditures, and government-led initiatives to expand hospital facilities. Countries like China, India, and Japan are key markets, benefiting from a growing elderly population and increased investment in healthcare infrastructure.

Latin America: The Latin American market is growing due to improvements in healthcare access, rising investments in hospital infrastructure, and government efforts to enhance public healthcare facilities. Brazil and Mexico are the major contributors to market expansion in this region.

Middle East & Africa: This region is witnessing increasing demand for hospital beds due to rising healthcare investments, expansion of private hospitals, and government programs aimed at improving hospital capacities. The UAE and Saudi Arabia are leading the market with significant investments in advanced medical facilities.

Competitive Insights

The global hospital beds market is highly competitive, with key players focusing on technological advancements, product launches, and strategic partnerships. Leading companies such as Stryker Corporation, Hill-Rom Holdings Inc., Invacare Corporation, Paramount Bed Holdings Co., Ltd., Medline Industries, Getinge AB, LINET Group SE, and Stiegelmeyer GmbH & Co. KG are at the forefront of market innovation.

Recent Developments in the Industry

December 2024: Stryker Corporation launched a new AI-powered smart hospital bed designed to improve patient monitoring and reduce fall risks.
July 2024: Hill-Rom Holdings Inc. introduced an advanced ICU hospital bed with integrated wireless monitoring capabilities.
March 2024: LINET Group SE expanded its manufacturing facility in Europe to meet the growing demand for high-tech hospital beds.

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Scope of the Report:

Market, by Product

Beds
- Powered Beds
  - Electric Beds
  - Semi-electric Beds
- Manual Beds
- Smart Beds
Accessories

Market, by Type of Care

Curative Care
Long-term Care
Rehabilitative Care

Market, by Healthcare Facility

Critical Care Units
Bariatric Care Units
Long-term Care Units
Home Care Settings
Med-surg Care Units
Pediatric Care Units
Maternal Care Units

Market, by Application

Intensive Care
Non-intensive Care

Market, by Sector

Private
Public

Market, by Geography

North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, Bulgaria, Romania, Belgium, Austria, Slovakia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, Singapore, Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), and the Middle East & Africa

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