Hospital Bed and Furniture Market Growing

Hospital Furniture Market

Hospital beds, stretchers and other furniture play a role in patient safety, patient outcomes and patient satisfaction. As health care becomes more accessible on a global scale it makes sense that this segment of the global health care market will experience growth in the coming years.

More than one market research firm predicts growth in the hospital bed market.

“Hospital beds are used to provide assistance and relief to the patient during hospitalization,” according to market research firm MarketsandMarkets. “The features such as adjustable height/side rails and electronic devices/operating buttons make these beds patient friendly and provide comfort to the patients. The global hospital beds market is categorized on the basis of type, technology, end user and geography. Hospital beds market is segmented as regular/general purpose beds, pediatric beds, respiratory beds, ICU beds, home care beds, bariatric beds, bathing beds and pressure relief devices market.”

Persistence Market Research reports that the global market for hospital beds will hit $6.7 billion by 2020.

“Major factors contributing to growth of the hospital beds market include rising prevalence of chronic diseases, increasing aging population, increasing number of hospitalization cases and technological advancements,” MarketsandMarkets adds. “Furthermore, improved health care infrastructure, rising middle class income and rising investment and advancement in health care sector are other factors providing impetus for growth of this market. The major trend to be seen in the future will be the rising demand for the advanced and selective features of hospital beds. In addition, the growing number of new and advanced hospitals in emerging economies of the world will drive the demand for hospital beds in the forecast years. However, high cost of hospital beds is a key limitation for the market, which restricts its affordability in low-income regions.”

P&S Market Research provides more details.

“The global hospital beds market was valued at $5.4 billion in 2015, and it is expected to grow at a compound annual growth rate (CAGR) of 4.6 percent during the period 2016-2022,” according to P&S Market Research. “The global market is increasing, due to growing geriatric population and increasing health care expenditure. In addition, the lifestyle changes are leading to chronic illness, due to the increased usage of caffeine, tobacco and alcohol. This has generated the demand for hospitalization, thus encouraging the growth of the global market.”

“Based on type, the general bed segment is expected to witness the fastest growth during the forecast period,” P&S Market Research adds. “Among the treatment types, the acute care bed segment had the largest market size in the global market during 2015; however the critical care bed segment is expected to witness the fastest growth, with at 5.1 percent CAGR during the period 2016-2022.”

Persistence Market Research reports that the global market for hospital beds will hit $6.7 billion by 2020.

Transparency Market Research adds that the overall medical furniture market is also expected to see significant growth over the next three years.

“The market of medical furniture is expected to show steady growth rate during the forecast period from 2014 to 2020,” according to Transparency Market Research.

The growth is anticipated to be driven by various factors, such as the increasing number of medical infrastructure across the globe, particularly in developing countries and steadily increasing technological innovations in hospital furniture. The rising number of hospitals across developed countries coupled with the high number of hospitals in developed nations is considered as the key factor driving market growth.

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