Market Size of Medical Beds Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 5.80 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Medical Beds Market Analysis
The medical beds market is expected to register a CAGR of 5.8% over the forecast period.
The COVID-19 pandemic greatly increased hospitalization, which greatly increased the demand for hospital beds all around the world. Medical beds are a crucial component of any patient's care since they offer convenience, safety, inflection control, and risk management support. For instance, as per the study report published by Disaster Medicine and Public Health Preparedness in April 2021, given the severe COVID-19 cases in the Kingdom of Saudi Arabia, findings suggested the need for more hospital and ICU beds which increased the demand for medical beds and likely propel the market to grow during the pandemic period. However, as COVID-19 cases are decreasing the demand for medical beds is expected to be stable over the coming years.
The growing geriatric population and the rising burden of chronic diseases like cancers increase hospitalizations for treatment which is expected to fuel the market growth. For instance, as per the study published by Gastro Hep Advances in April 2022, the incidence of biliary tract cancer varied by nation, with Chile having the highest rate (14.35%) and Vietnam having the lowest rate (1.25%). Hence, the high burden of cancers increases the risk of hospitalizations and rise the demand for medical beds which is expected to drive the market to grow.
Moreover, technological advantages and the adoption of medical beds coupled with the growing number of hospitals are expected to boost market growth over the forecast period. For instance, in June 2022, International Finance Corporation partnered with private healthcare developer Egyptians for Health Care Services (EHCS) to support the construction and operation of CapitalMed, a sprawling medical hub on the outskirts of Cairo that will improve healthcare services in Egypt. The establishment of new medical hubs increases the need for medical beds which is expected to drive the market over the forecast period.
However, the high cost of medical beds and the decreasing number of beds in public hospitals are anticipated to hamper the market growth.
