Research Nester published a report titled “Hospital Beds and Supporting Equipment Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers a detailed overview of the global hospital beds and supporting equipment market in terms of market segmentation by product, facility, technology, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, and supply and demand risk, along with a detailed discussion of current and future market trends that are associated with the growth of the market.
The global hospital beds and supporting equipment market is projected to grow at a CAGR of ~8% by attaining a significantrevenue during the forecast period, i.e., 2022 – 2031.Increasing demand for smart hospital beds is anticipated to propel the growth of the market during the forecast period. For Instance, World Health Organization (WHO) recommended the number of hospital beds to be 3 per 1000 people. Moreover, a large number of people are noticed to be shifting home from hospitals due to the higher cost of hospital facilities. The annual rate of hospital discharge in the USA is projected to be more than 30 million.
Additionally, by facility, the global hospital beds and supporting equipment market is segmented in tohome care, critical, curative, long-term, bariatric, and others. Out of these sub-segments, the curativesegment is estimated to obtain the largest share in the market during the forecast period. The growth of the segment can be accounted to growing cases of infectious diseases. For instance, infectious diseases accounted for almost 45,000 million death every day.
Global Hospital Beds and Supporting Equipment Market Regional Synopsis
Furthermore, the global hospital beds and supporting equipment market, by region, is bifurcated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Out of these regions, the market inthe Europeregion is estimated to grow at a rapidpace over the forecast period on the back of rising geriatrics with chronic diseases. As of 2019, nearly 90 million people were found to be aged 65 or above in Europe. Additionally, the growing manufacturing of hospital beds and rising advancement in medical technology are further expected to hike the growth of the market over the forecast period.
The research is global in nature and covers a detailed analysis of the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook, etc. have also been covered and displayed in the research report.
Mounting Prevalence of Chronic Diseases to Foster the Growth of the Market
It is observed that around 40 million people die due to chronic diseases every year.
Chronic diseases last for years and require constant treatment. The prevalence of chronic diseases such as heart and kidney diseases, diabetes, influenza, septicemia, and pneumonia are very common. People diagnosed with such diseases might have to spend a considerable duration of time in the hospital. Therefore, such prevalence and requirement for hospital beds and supporting equipment are anticipated to propel the growth of the market during the forecast period.
However, the high cost associated with the required devices is expected to operate as a key restraint to the growth of the global hospital beds and supporting equipment market over the forecast period.
This report also provides the existing competitive scenario of some of the key players in the global hospital beds and supporting equipment market which includes company profiling of Paramount Bed Co., Ltd., Hill-Rom Services, Inc., Stryker Corporation, Invacare Corporation, Joerns Healthcare LLC., LINET Group, SE, Medline Industries, LP, Gendron, Inc., Savaria Corporation, and Antano Group S.R.L.The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global hospital beds and supporting equipment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.