Hospital Beds and Supporting Equipment Market Size

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.