Hospital Bed Market Size

Hospital Bed Market Growth Projections and Opportunities

Automatic beds are specially designed for patients who need healthcare services while staying in the hospital. These beds have special features to ensure the comfort of patients and make it convenient for healthcare workers. The introduction of automatic beds has improved the quality of treatment. In developed countries, many hospitals and healthcare providers use automatic beds. The use of advanced technology has enhanced facilities for patients according to their needs. Thanks to advanced automated bed technology, multiple surgeries can be performed on the same patient using the same bed. Automatic beds are self-controlled and require minimal assistance, making them easier to handle compared to manual beds. The increasing prevalence of diseases like chronic obstructive pulmonary disease, cardiac failure, multiple sclerosis, Parkinson's, and others has led to a rise in the patient population. As a result, hospitals are focusing on improving their facilities.

Healthcare spending worldwide is continuously increasing. In recent decades, healthcare spending in regions like the Americas and Europe has risen simultaneously. According to the Centers for Medicare & Medicaid Services, in 2015, U.S. healthcare spending increased by 5.8%, reaching USD 3.2 trillion. In 2016, healthcare spending in North America continued to rise. Canada's healthcare system faced challenges due to an aging population. The expansion of insurance coverage resulting from healthcare reform (Affordable Care Act, 2010) in the U.S. also contributed to an increase in healthcare spending. In 2016, healthcare organizations were relieved from a special tax on medical devices (Medical Device Excise Tax Act, 2013).

Healthcare spending has slightly increased in the UK and Germany. Western Europe, facing a slight drop in financial growth and persistent economic pressure, continues to seek ways to save money on healthcare. According to the Organisation for Economic Co-operation and Development (OECD), healthcare expenditure in Germany was EUR 321 billion in 2014. France recorded the second-highest level of current healthcare expenditure at EUR 237 billion, followed by the United Kingdom (EUR 223 billion).

Healthcare spending in Asia grew in 2016 due to the expansion of state healthcare programs and the increasing affluence of the population. India, in particular, saw an increase in spending due to a government resolution to improve healthcare services.

Furthermore, in the Middle East & Africa, spending on healthcare also increased. This was primarily due to the growing population and developments in the healthcare sector. The Middle East region is a major contributor to the market. In 2016, Sub-Saharan Africa showed positive economic growth, reaching USD 35 billion, along with extensive demand for healthcare resources. According to the Health and Education Department, Africa's macroeconomic climate over the next decade is expected to widen the healthcare gap, creating new demand as higher incomes emerge. The most significant investment opportunities will be in building and improving the healthcare sector, with an estimated need for an additional 550,000–650,000 hospital beds added to the existing base.