Detailed Hospital Beds Market Analysis with Booming Trends
Hospital bed market Outlook 2022
According to a new market report by Persistence Market Research “Global Market Study on Hospital Beds: Asia to Witness Highest Growth by 2020”, the global hospital bed market was valued at US$5,254.2 million in 2014 and is expected to grow at a CAGR of 4, 2% from 2014 to 2020 to reach an estimated value of $6,731.8 million by 2020.
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Hospital beds refer to medical devices used to care for patients during their hospital stay. Special features of hospital beds, such as adjustable bed heights and side rails controlled by electronic buttons, make them caregiver-friendly and contribute to better patient comfort. Hospital beds can be classified based on usage, performance and treatment. Globally, the hospital bed market is witnessing significant growth due to the increasing prevalence of chronic diseases and the increasing aging of the population. In addition, increasing healthcare spending and technological advances in this area are driving the market. However, high cost of advanced hospital bed restrains the hospital bed market. Similarly, falling demand for general hospital beds in developed countries is a big problem for the market. As a result, the market is expected to grow at a CAGR of 4.2% between 2014 and 2020.
Europe has the largest market for hospital beds. This is largely due to the increasing prevalence of chronic diseases and increasing healthcare spending in the region. The European hospital bed market was valued at US$1,643.2 million in 2014 and is projected to reach US$2,010.2 million in 2020, growing at a CAGR of 3.4%. The Asian hospital bed market is expected to grow significantly due to the large population base, growing hospital infrastructure and improving reimbursement scenario in the region. Based on performance, manual beds make…