Global Hospital Beds Market: Overview
Beds are among the most essential equipment required in a hospital, as patients are generally not in mobile condition to receive the treatment, and rest is often necessary for them. For the critical conditions that patients are admitted into the hospital, beds are required to be designed in such a manner that provides ideal support and comfort. With growing prevalence of several diseases, the healthcare industry is at an all-time peak and consequently, the global hospital beds market is projected for a healthy growth rate during the forecast period of 2016 to 2024.
This report on global market for hospital beds is an in-depth examination of all the factors that are expected to impact the growth rate in the near future, and presents estimations on the future state of the market until 2024. The report is a summation of interviews and discussions with a wide range of key industry participants and opinion leaders. Some of the key players have also been profiled in the report, exploring their market share, product range, regional presence, and recent strategic developments such as mergers, collaborations, acquisitions, and other announcements.
The global hospital beds can be segmented on the basis of type, treatment, power, and geography. By type, the market can be divided into general beds, pediatric beds, pressure relief beds, bariatric beds, and birthing beds. By treatment, the market can be categorized into acute care beds, long term care beds, and critical care beds. By power, the market can be segmented into electric beds, manual beds, and semi-electric beds. Geographically, the report studies the opportunities available in the regions of North America, Asia Pacific, Europe, and Rest of the World.
Global Hospital Beds Market: Trends and Opportunities
Rising geriatric population is one of the prominent factors of this market, as the people aged over 65 generally suffer from several diseases such as arthritis, heart disease, respiratory diseases, Alzheimer’s diseases, osteoporosis, and diabetes. According to the National Institute on Aging, global geriatric population will rise to 1.5 billion, which makes for a strong demand for hospital beds. Increasing number of hospitalization cases and technological advancements in the field, and improving healthcare infrastructure in emerging economies are other important factors positively influencing the market. According to the report, rising demand for advanced and selective features of hospital beds is a trend that urges investment in research and development of advanced beds. Conversely, high cost of these beds is seen as the primary restraint over the growth rate of the global hospitals beds market.
Global Hospital Beds Market: Region-wise Outlook
Europe is expected to remain most lucrative regional market during the forecast period, which is a reflection of increasing expenditure in Europe’s medical industry and healthcare organizations. North America forms the second most profitable region due to robust healthcare infrastructure, whereas Asia Pacific is projected for most robust growth rate, which is a result of vast population base and improving healthcare infrastructure in the emerging economies such as India, China, Japan, Australia, and South Korea.
Companies mentioned in the research report
Paramount Bed Co. Ltd., Getinge Group, LINET spol. s r.o., ArjoHuntleigh, Stryker, Hill-Rom Holdings, Inc., Invacare Corporation, and Medline Industries, Inc. are some of the key players currently operational in the global hospital beds market. Most of these companies have sub-divisional production units in order to meet the demand coming from medical establishments that are replacing their outdated hospital beds with the advanced ones.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.