14 February 2022
Visiongain has published a new report entitled the Hospital Bed Market Report 2022-2032: Forecasts by Application (Non Intensive Care Beds, Intensive Care Beds), by Type (Manual, Semi-Electric, Electric), by Hospital Type (Publicly Owned, Not-for-Profit, Privately Owned, For-Profit), by Type of Care (Curative, Rehabilitative, Long Term, Psychiatric, Maternity), by End-user (Hospitals, Home Care, Settings, Elderly, Facilities) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Recovery Scenarios.
The global hospital bed market was valued at US$xx million in 2021 and is projected to grow at a CAGR of xx% during the forecast period 2022-2032.
The size of the wood furniture industry is favoured by improved patient comfort and flexibility
In 2019, the wood material category accounted for more than 22.5 percent of the medical furniture market. For effective equipment storage, government hospitals use a range of wooden seats, wooden compartments, beds, and cupboards. Preferences for wooden furniture become advantageous for market expansion due to the restricted number of resources in public and government hospitals. Wooden chairs enhance patient comfort and flexibility, allowing for better relaxation, resulting in a higher adoption rate. Changing environmental circumstances, on the other hand, have an impact on the material and may cause patient pain, limiting market demand to some extent.
One of the major challenges expected to stifle the target market's growth is the high cost of technologically enhanced furnishings. Furthermore, the long lifespan and durability of these types of furniture discourages repeat purchases, which is likely to impede worldwide market growth throughout the projection period.
How has COVID-19 had a significant negative impact on the Hospital Bed Market?
The monetary effects of the early pandemic have started to recalibrate as the country's organizations resume. Likewise with the remainder of the economy, the wellbeing area saw a sharp drop in incomes and work at the beginning of COVID-19 in the spring of 2020. Wellbeing administrations usage dropped sharply as suppliers dropped elective consideration and patients rehearsing social removing stayed away from wellbeing offices. Usage of wellbeing administrations has remained to some degree lower than anticipated in light of use levels in years before the pandemic and wellbeing area work stays underneath pre-pandemic levels.
The quick and direct expected effect of COVID-19 has effectively brought about a huge number of lives lost and critical gradual expense for the medical care framework. Nonetheless, as has as of now been reported,2 3 an unmistakable chance exists that the quantity of lives lost has been downplayed. At whatever year, the quantity of individuals that bite the dust in the United States follows a moderately steady bend that changes typically throughout the year. In 2020, the United States has strayed perceptibly from this bend. While the immediate effect of COVID-19 has effectively been significant, extra layers of deferred or backhanded effect can possibly predominate the quick impacts. These extra layers of effect connected with COVID-19 could result in $125 billion to $200 billion in gradual yearly US wellbeing framework cost.
How this Report Will Benefit you?
Visiongain’s 521-page report provides 339 tables and 310 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global hospital bed market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Hospital Bed. Get the financial analysis of the overall market and different segments including application, bed type, hospital type, care type and capture higher market share. We believe that high opportunity remains in this fast-growing hospital bed market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report would help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the current market drivers?
Rising Numbers of Private Hospitals
The number of private hospitals has been steadily increasing, particularly in poor and emerging countries, which is likely to boost market development throughout the forecast period. The expansion of the hospital furniture industry is aided by an increase in private hospital healthcare spending. Regulatory authorities in growing economies such as China have particular laws and regulations governing healthcare infrastructure, which leads to the growth of hospital infrastructure and the provision of higher-quality medical services to patients. Due to rising sickness rates, people's preference for hospitals stimulates demand for medical furnishings, propelling the business forward.
Increased Hospital Admissions
As a result of the worrisome rise in the frequency of chronic illnesses throughout the world, the number of hospital admissions has surged significantly. Government funding for hospitals is frequently included in healthcare budgetary allocations, which might provide additional opportunities for investors in the hospital furniture sector. The worldwide market for medical furniture will be driven by a growing patient pool due to the rising frequency of chronic illnesses. Changes in lifestyle, as well as rising patterns of illnesses linked to a sedentary and sluggish lifestyle, have increased the likelihood of chronic diseases and health difficulties, necessitating therapeutic interventions and health monitoring. These factors will drive the need for medical furniture such as stretchers, trolleys, and beds, allowing the medical furniture sector to develop dramatically and flourish in the next years.
Where are the market opportunities?
The demand for easy-to-manage quarantine beds is fuelled by the Coronavirus pandemic
Manufacturers are profiting on the unusual demand for mattresses and partitions as the COVID-19 cases in India continue to increase. For example, hospitals are cash-strapped as a result of the large number of COVID-19 patients. As a result, manufacturers are offering mattresses that are both affordable and easy to install. Manufacturers are scrambling to expand their capacity in order to fulfil the growing demand created by the coronavirus outbreak. This has aided manufacturers in establishing long-term business relationships with hospitals and will continue to aid manufacturers in establishing long-term contractual relationships with hospitals in the future. Companies have been working around the clock to provide innovative hospital furniture solutions that are the result of extensive research and development. They're working on COVID quarantine beds that are simple to store, operate, and travel.
A High Patient-To-Facility Ratio Creates Revenue Opportunities
Manufacturers in the hospital furniture industry have concentrated their inventions on providing maximum patient comfort and safety. Companies are boosting their production capacities in order to provide hassle-free furniture and equipment availability, even on short notice. Another important feature of furniture quality assurance is that it aids producers in gaining regional and worldwide reputation.
The major players operating in the hospital bed market are GF Health Products, Inc., Getinge AB, Hill-Rom Holdings, Inc., Invacare Corporation, Malvestio S.P.A, Stryker Corporation, Savaria Corporation, Antano Group, Savion Industries, Stiegelmeyer GmbH & Co., Amico Corporation, Medline Industries, LINET Spol S.R.O, Merivaara Corporation, Paramount Bed Holdings Co. Ltd., Midmark Corporation, Famed Zywiec Sp Zo. O, Gendron Inc., Hard Manufacturing Co, Inc., Umano Medical Inc., These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
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