COVID-19 Impact on Hospital Beds Market Size 2020, Global Share, Growth, Industry to Reach USD 4,824.2 million by 2023
Given the debilitating impact of COVID-19 (Coronavirus) on Hospital Beds Market, companies are on the lookout for starting production lines. Get an inside look at the market prospects and its future decisions in light of the pandemic and other such unforeseen circumstances.
Pune, India – June 29, 2020 /MarketersMedia/ —
Hospital Beds Market Overview:
The global market for hospital beds is expected to grow due to the increasing participation from developing countries where the healthcare sector is witnessing a substantial revamping. The hospital beds market, as discussed by Market Research Future (MRFR), is expected to rise up to a valuation of USD 4,824.2 million by 2023 at a CAGR of 5.5% during the forecast period of 2018 to 2023. The report also takes a deep look at factors like the rising investment in the healthcare sector, improved financial support from governments, better traction from the private sector, technological upliftment, and others as major traction providers. However, this growth would be limited in many Middle Eastern and African countries due to their poor financial condition.
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Hospital Beds Market Segmentation:
The global study on the hospital beds market has been discussed by MRFR analysts, on the basis of power, end users, and type. These segments have several data regarding volume and valuation, and they are backed by statistics, charts, graphs, analogies, and various other scientific methods. These make the report reliable and creates better opportunities for securing an improved profit margin.
By types, the report on the global hospital beds market studied segments like long-term care, psychiatric & bariatric care, acute care, and others (maternity and rehabilitation beds). The acute care segment had almost 58.7% market share in 2016.
By power, the study on the global hospital beds market has been segmented into a semi-electric bed, electric bed, and manual bed. In developed countries, electric beds enjoy substantial growth. Developing countries are also creating a huge demand.
By end users, the global study on the hospital beds market has been segmented into clinics, ambulatory, hospital, and others. The hospital segment has a substantial backup in the form of growing investment in the sector.
Hospital Beds Market Regional Analysis:
Europe would dominate the hospital beds market and the region is expected to register 5.5% CAGR during the forecast period. However, the Asia Pacific region would edge out others by clocking 5.9% CAGR during the same period. In Europe, support from the government is expected to play a major role in creating space for the regional hospital beds market expansion.
Hospital Beds Market Competitive Landscape:
Stryker Corporation, Gendron Inc., Linet spol. s r.o., Hill-Rom Holdings, Paramount Bed Holdings Co., Ltd., Invacare Corporation, and Getinge AB are some of the prominent names in the global hospital beds market that are involved in making changes to suit their personal growth and bolster the surge of the global market revenue. These moves are also ensuring the expansion plans of various companies both in terms of client and product portfolio. These steps are mergers, acquisitions, innovations, collaborations, hike in investment for research and development, better marketing strategies, launch plans, and others. MRFR made an attempt to record the latest moves triggered by these companies to understand how the market is shaping up.
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Hospital Beds Industry News:
The global market for hospital beds is witnessing a complete upheaval in the entire market. It is getting acknowledgment from several countries and their healthcare sector due to the rising demand for spaces in hospitals to treat coronavirus patients. Countries have started creating makeshift spaces for the healthcare industries as well to accommodate more patients owing to which influx of investment has risen. Healthcare industries are also creating makeshift quarantine centers with facilities to take care of critical patients, as the global market for hospital beds is getting better traction. However, once this subsides, this hike in demand would get stalled and that has to be calculated for a better market understanding.
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