Global Hospital Bed Market Size, Share, Analysis, Growth Rate, Demand and Forecast by 2024
Increasing prevalence of chronic diseases, technological advancement in hospital beds, rise in cases of lifestyle diseases, growing geriatric population, the increasing capacity of beds in private hospitals are the major factors leading to the high demand of hospital beds in the global market.
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The electric hospital bed, by type, is estimated to contribute to the largest share of the global market. The high demand for electric beds is primarily due to the increasing geriatric population, an increasing number of patients requiring bariatric care, and patients suffering from multiple diagnoses. The other types of hospital beds include semi-electric and manual beds.
Asia-Pacific hospital bed industry is expected to witness the fastest growth during the forecast period. The growth is driven by the rising number of geriatric population, increasing obesity as a result of lifestyle diseases, and the rise in healthcare expenditure in the regional market.
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The key players of 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.
The hospital bed market players are investing to launch technologically advanced hospital beds, for instance in January 2017, Genting Group announced the expansion of its product portfolio of patient mobility product in the U.S.by the launch of Total Lift Bed from VitalGo Systems. The group’s ArjoHuntleigh brand is the exclusive U.S. distributor of the Total Lift Bed in the acute and long-term acute care settings.
Source: VynZ Research