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Medical Bed Market Size

Report ID: GMI1883
Published Date: Jul 2024
Report Format: PDF

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Medical Bed Market Size

Medical Bed Market size was valued at USD 4 billion in 2023 and is expected to exhibit growth at a CAGR of 5.4% from 2024 to 2032. High market growth can be attributed to the ongoing advancements in medical technology, rising prevalence of chronic diseases, growing aging population, and expansion of home healthcare services, among other contributing factors.

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Moreover, as populations in many parts of the world age, there is an increasing demand for healthcare services and medical equipment, including medical beds. For instance, recent research by the United Nations (UN) predicts that the global population aged 65 and over will triple over the next three decades, reaching 1.6 billion by 2050, accounting for more than 16% of the worldwide population. Hence, elderly individuals often require specialized beds that cater to their comfort, mobility, and healthcare needs. This demographic trend is a significant driver of growth in the market.

Furthermore, increasing healthcare expenditure by governments, private healthcare providers, and individuals contributes to the procurement of better-quality medical equipment, including medical beds. This investment supports the adoption of advanced healthcare technologies and infrastructure improvements, further driving market growth.

Medical bed is a specialized bed designed for use in healthcare settings such as hospitals, nursing homes, and home healthcare environments. These beds are equipped with features that cater to the medical and comfort needs of patients requiring prolonged care, rehabilitation, or recovery.

Medical Bed Market Report Attributes
Report Attribute	Details
Base Year:	2023
Medical Bed Market Size in 2023:	USD 4 Billion
Forecast Period:	2024 – 2032
Forecast Period 2024 – 2032 CAGR:	5.4%
2024 – 2032 Value Projection:	USD 6.3 Billion
Historical Data for:	2021 – 2023
No. of Pages:	125
Tables, Charts & Figures:	284
Segments covered:	Product, Bed Type, Application, Medical Institutions/Facilities, End-use, and Region
Growth Drivers:	Growing geriatric population worldwide Increasing funding on healthcare infrastructure in developing economies Surging hospital admissions due to chronic diseases Rising volume of hospital beds in private hospitals in developing countries
Pitfalls & Challenges:	Excessive cost of specialty beds Decreasing volume of beds in hospitals in developed regions

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Authors: Mariam Faizullabhoy , Gauri Wani

Frequently Asked Questions (FAQ) :

Medical bed industry size was USD 4 billion in 2023 and will expand at 5.4% CAGR between 2024 and 2032 owing to the aging population and the rising prevalence of chronic diseases requiring prolonged hospital stays.

The non-intensive care segment in the medical bed industry will register 5.4% CAGR through 2032, attributed to the increasing demand for general hospital beds in various healthcare settings, such as general wards, long-term care facilities, and home care.

North America medical bed industry recorded USD 1.6 billion in 2023, driven by the region's advanced healthcare infrastructure, high healthcare expenditure, and the presence of major market players.

Prominent firms operating in the market are Besco Medical, Gendron Inc., Getinge AB, GF Health Products Inc., HARD Manufacturing Company, Inc., Hill-Rom Holdings, Inc., Invacare Corporation, Medline Industries Inc., Midmark Corp, Paramount Bed, Co, Ltd, Savaria (Span-America Medical Systems), Stiegelmeyer GmbH & Co Kg, and Stryker Corporation, among others.