The global hospital beds market is experiencing significant growth to reach about $7.15 billion by 2031

PORTLAND, OR, UNITED STATES, February 5, 2025 /EINPresswire.com/ -- The global hospital beds market is experiencing significant growth, driven by various factors including an increase in the geriatric population, rising incidences of chronic diseases, and advancements in medical technology. As of 2021, the market was valued at approximately $3.39 billion and is projected to reach about $7.15 billion by 2031, with a compound annual growth rate (CAGR) of 7.4% from 2022 to 2031.

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Key Market Drivers
• Increase in Road Accidents: The rising number of road traffic accidents necessitates more hospital beds for treatment. For example, the U.S. Department of Transportation reported nearly 38,680 fatalities in 2020 due to motor vehicle crashes.
• Surgical Operations: There is a growing demand for surgical procedures, which in turn increases the need for hospital beds.
• Geriatric Population Growth: The aging population significantly impacts the market. In 2021, over 20.8% of the EU population was aged 65 and older, making them more susceptible to chronic illnesses that require surgical interventions.
• Chronic Diseases: The prevalence of chronic diseases such as cancer, hypertension, and diabetes is on the rise. According to WHO, cancer alone accounted for nearly 10 million deaths globally in 2020.
• Healthcare Expenditure: Increased healthcare spending globally contributes to the demand for hospital beds. For instance, U.S. healthcare spending rose by 9.7% in 2020 to $4.1 trillion.

Innovations and Product Advancements
The hospital beds market is also witnessing innovations that enhance patient care and operational efficiency:
• Wireless Hospital Beds: Companies like Stryker have launched wireless hospital beds designed to improve nurse workflow and reduce patient falls.
• Advanced Features: Modern hospital beds now come equipped with features such as wireless remote controls, articulated positions for comfort, and safety rails.

Market Segmentation
The hospital beds market can be segmented based on technology, application, and end-user:
• By Technology:
• Powered Beds (Electric and Semi-electric)
• Manual Beds
• By Application:
• Acute Care
• Long-term Care
• Others
• By End User:
• Hospitals
• Ambulatory Surgical Centers
• Others

Regional Insights
Asia-Pacific is expected to dominate the hospital beds market due to its large population base and increasing prevalence of chronic diseases. The region is projected to witness the highest growth rate during the forecast period. Conversely, Europe is anticipated to register significant growth due to its well-developed healthcare infrastructure.

Conclusion
The global hospital beds market is poised for substantial growth driven by demographic shifts, technological advancements, and increased healthcare spending. As the demand for quality healthcare rises, manufacturers are likely to continue innovating to meet the evolving needs of patients and healthcare providers alike.In summary:

• Market Value (2021): $3.39 billion
• Projected Value (2031): $7.15 billion
• CAGR (2022-2031): 7.4%
• Key Drivers: Aging population, chronic diseases, increased surgical procedures
• Major Regions: Asia-Pacific (highest growth), North America (largest share)

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David Correa
Allied Market Research
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