Hospital Beds and Supporting Equipment Market size was valued at USD 2.16 Billion in 2023 and is poised to exceed USD 5.8 Billion by the end of 2036, expanding at over 7.9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of hospital beds and supporting equipment is evaluated at USD 2.31 Billion.The growth of the market can be attributed to the rising demand for technically enhanced beds in hospitals. Beds are one of the most advantageous elements in the medical field which are used for patients for easier movement and comfort. For instance, the number of beds per 1000 people is suggested to be a minimum of 3 by the World Health Organization (WHO) while many developing countries remain to have 1 to 2 beds per 1000 people. Hence, the prevalence of the demand for beds in hospitals is projected to be a major growth factor of the market over the forecast period.
Furthermore, the global hospital beds and supporting equipment market is further projected to grow on the back of a large number of people shifting from hospitals to homes owing to higher cost to the higher cost of hospital facilities. For instance, over 30 million hospital discharges are observed annually in the USA. Rising investment on the development of the smart hospitals across the globe is also expected to boost the demand for hospital beds and supporting equipment over the forecast period. As a result, the demand for beds and other supporting equipment is spurred in the recent decade. Thereby, all these factors are estimated to push the growth of the market during the forecast period.
Growth Drivers
Spiking Geriatric Population Across the Globe- As of 2021, the figure of global geriatric population was stated to be 747,238,580 by the World Bank. The geriatrics with severe mobility issues owing to diseases and disorders needs hospital beds for the continent personal mobility dwelling either in hospitals or in homecare facilities.
Higher Prevalence of Chronic Diseases- The annual rate of deaths caused by chronic diseases is observed to be around 40 million people globally, followed by cardiovascular (18 million), respiratory diseases (4 million), cancer (9 million), and others. Chronic disease refers to a medical condition that can last for more than 1 year. Chronic diseases require constant medical care and therapies. Major chronic diseases such as heart diseases, diabetes, influenza, pneumonia, kidney diseases, and septicemia are found at a higher rate among the global population. Hence, such high prevalence of these diseases is projected to hike the growth of the market over the forecast period.
Escalating Hospitalization Rate Globally - The hospitalization rate in 2022 was higher owing to COVID-19, the number of people hospitalized in the USA was nearly 150,000 while in Italy the number was estimated to be around 19,000.
Mounting Adoption of Healthcare Automation- As of 2020, approximately 85% of healthcare organizations have installed AI and automation strategies into their facilities across the globe.
Spiking Healthcare Expenditure Per Capita- Based on the data provided by the World Bank, in 2019, the healthcare expenditure per capita was stated to be USD 1,121.9 worldwide. The growth in the healthcare expenditure increases the spending capacity on the installation of various medical equipment and other facilities.
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
7.9% |
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Base Year Market Size (2023) |
USD 2.16 Billion |
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Forecast Year Market Size (2036) |
USD 5.8 Billion |
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Regional Scope |
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Facility (Home Care, Critical, Curative, Long-Term, Bariatric)
The global hospital beds and supporting equipment market is segmented and analyzed for demand and supply by facility into home care, critical, curative, long-term, bariatric, and others. Out of these segments, the curative segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the escalating cases of infectious diseases and physical injuries. Physically injured people may have to linger in hospitals for several weeks depending on the type of injury. For instance, the deaths occurring owing to infectious diseases per day is projected to be around 45,000 million globally. Hence, a higher requirement for hospital beds and supporting equipment can be observed in the curative segment that is estimated to propel the segment growth over the forecast period.
Technology (Manual, Powered Bed)
The global hospital beds and supporting equipment market is also segmented and analyzed for demand and supply by technology into manual and automated hospital bed. Between these two segments, the powered bed segment is expected to garner a significant share. Countless benefits provided by the powered bed such as, high level of comfort and enhanced sleep quality along with escalated independence to sit and lay down accordingly. Powered beds also known as electric beds are adjustable and can be very suitable for people with spinal injuries and back pain. For instance, in United States, the cases of spinal cord injury are projected to be around 50 cases per 1 million people annually. Furthermore, electric bed is used for proper circulation, reduction in heartburn, improvement in digestive process & arthritis, and snoring. Powered beds can be adjusted from 0 to 90 degree.
Our in-depth analysis of the global market includes the following segments:
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By Product |
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By Facility |
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By Technology |
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By End-User |
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Europe Market Forecast
The Europe hospital beds and supporting equipment market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2036. The growth of the market can be attributed majorly to the growing ongoing advancements in medical technology and the rising manufacturing of hospital beds in the region are further estimated to propel the growth of the market over the forecast period. For instance, more than 2 million hospital beds were available across Europe in 2018. Moreover, geriatric population with a significant number of chronic diseases and mobility issues are also projected to expand the market size in the region over the forecast period. In 2019, approximately 90 million people in Europe were observed to be aged 65 or above. All these factors are anticipated to foster the growth of the market over the forecast period.
APAC Market Statistics
Furthermore, the global hospital beds market is also projected to witness notable growth at a rapid pace in Asia Pacific over the forecast period. Surge in road accidents resulting in serious physical injuries coupled with boom in the geriatric population are the major factors expected to drive the market growth exponentially in the region during the forecasted timeframe. For instance, it was estimated the in Asia Pacific, the number of geriatrics will nearly 1 billion by 2050.
Invacare Corporation to launch its patient lift, Birdie Evo XPLUS, in the USA. Birdie Evo XPLUS is an enhanced patient lift that provides comfort and required assistance for the post-acute setting with its upgraded modern design to the patients.
Joerns Healthcare LLC to collaborate with Biointellisense, Inc. to develop and launch BioButton and BioSticker. These are wearable medical devices that can be utilized by patients in the long-term and post-acute settings.
Author Credits: Radhika Pawar
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