The hospital bed market is subject to witness lucrative market growth thanks to the population explosion and rise in demand for novel therapeutics and diagnostics. Hospital bed is a primary component in demonstrating the success of any hospital. Not only convenience but also hospital beds speeden the recovery process for any patients. Being highly equipped with other attachments and devices, investors are smartly investing in these products.
the market is highly driven by increase in medical infrastructure, use of SMART technology and rise in availability of healthcare facilities along with electronic and medical devices. Rise in government spending for SMART beds is a variable factor for market development at geographically different regions. However, significant costs and rising competition along with improper mobility and mechanical loopholes might slower down the growth pace for hospital bed market.
The hospital bed are normally used for psychiatric care, long-term care and acute care. Medical applications include intensive and non-intensive care beds. Electric beds, Semi-Electric beds are the basic categories that come under the hospital bed market. Verticals such as elderly care facilities, home care settings and ambulatory surgical centers account for a significant market share in the near future.
North America holds a strong foothold in the hospital bed market as the medical infrastructure is growing by leap and bounds. Rise in healthcare expenditure by government also stimulates the growth of regional market. Medical advances and increase in geriatric population coupled with availability of healthcare facilities is likely to propel the regional market growth. European counterparts are likely to gain a strong foothold in the international market, as the region is subject to witness a steady rise in geriatric population and expenditure on hospital bed and related accessories.
Asia-Pacific hospital bed market is expected to grow at a steady pace due to enhancing of medical infrastructure and streamlined workflow. Moreover, use of smart ergonomics for bed functions with a touch screen interface enables easy use and smooth movements for patients. Hence, investing in smart beds for hospitals yields in good returns adding to the hospital infrastructure.
Prominent players in the hospital bed market comprise Paramount Bed Co Ltd, LINET spol s.r.o, Stryker, Hill-Rom Holdings Inc, Invacare Corporation, Medline Industries Inc and Getinge Group.