Market Size & CAGR of Medical Beds Market in 2021

The global medical beds market is projected to reach a market size of USD 4.5 billion in 2021 with a CAGR of 5.8% from 2021 to 2028. This growth is primarily driven by the increasing geriatric population, rising prevalence of chronic diseases, and advancements in technology.

COVID-19 Impact on the Medical Beds Market

The COVID-19 pandemic has significantly affected the medical beds market, leading to an increase in demand for hospital beds and specialized medical beds for COVID-19 patients. The healthcare infrastructure had to rapidly expand to accommodate the growing number of patients, resulting in a surge in the adoption of medical beds.

Medical Beds Dynamics

The medical beds market is driven by factors such as increasing healthcare expenditure, technological advancements in medical beds, growing prevalence of chronic diseases, and the rising aging population. However, challenges such as high cost associated with advanced medical beds and limited reimbursement policies may hinder market growth.

Segments and Related Analysis

Types of Medical Beds

1. Electric Beds

2. Manual Beds

3. Bariatric Beds

4. Pediatric Beds

End Users

1. Hospitals

2. Home Care Settings

3. Elderly Care Facilities

By Region Analysis

The medical beds market is segmented into regions including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to dominate the market due to the presence of well-established healthcare infrastructure and high healthcare expenditure.

Key Market Players and Competitive Landscape

1. Hill-Rom Holdings, Inc.

2. Stryker Corporation

3. Invacare Corporation

4. Linet Group SE

5. Paramount Bed Holdings Co., Ltd.

These key market players are focused on expanding their product portfolios, strategic collaborations, and geographical expansions to gain a competitive edge in the medical beds market.

Recent Happenings in the Medical Beds Market

In recent years, the medical beds market has witnessed advancements in technology such as smart beds with remote monitoring capabilities, increasing focus on patient comfort and safety, and the introduction of specialized beds for different medical conditions.