| REPORT ATTRIBUTE |
DETAILS |
| Historical Period |
2019-2022 |
| Base Year |
2023 |
| Forecast Period |
2024-2032 |
| Acute Care Hospital Bed and Stretcher Market, CAGR |
1.06%. |
| Acute Care Hospital Bed and Stretcher Market Size 2032 |
USD 9.315 billion |
Market Overview:
The acute care hospital bed and stretcher market is poised for steady progress, projected to reach a value of USD 9.315 billion by 2032, reflecting a compound annual growth rate (CAGR) of 1.06%. Despite the seemingly modest growth rate, several key factors are expected to fuel market expansion. Firstly, the aging global population contributes significantly to the increased prevalence of chronic diseases, consequently driving up the demand for acute care services and necessitating more hospital beds and stretchers. Moreover, hospitals are increasingly prioritizing patient safety and comfort, leading to investments in advanced equipment with features like pressure-relieving mattresses and integrated monitoring systems.
Technological advancements also play a crucial role in shaping the market landscape, with manufacturers continuously innovating to develop beds and stretchers with integrated functionalities such as vital sign monitoring and therapeutic capabilities. The rise of smart beds connected to hospital networks enables real-time patient monitoring, enhancing data collection and overall patient care. Additionally, the ongoing development of hospital infrastructure, particularly in emerging economies, further boosts market growth as governments and private entities invest in expanding healthcare facilities.
However, the market is not without its challenges. Stringent regulations and lengthy procurement processes can impede the introduction of innovative products, while hospitals’ cost constraints may lead to the adoption of lower-cost, basic bed models, limiting the uptake of advanced features. Moreover, uncertainties surrounding reimbursement policies for hospital equipment can impact investment decisions, posing additional challenges for manufacturers. Despite these challenges, future opportunities lie in emerging markets, telehealth integration, and the growing demand for specialized beds catering to specific patient needs, indicating a promising outlook for the acute care hospital bed and stretcher market.
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Market Drivers:
This growth is driven by various factors reshaping the global healthcare landscape. Primarily, the increasing demand for healthcare services, spurred by an aging population and rising chronic disease prevalence, fuels the need for more acute care facilities and equipment. For instance, the global population of older persons (aged 60 years and older) was about 1 billion in 2019 and is expected to rise to 1.4 billion in 2030. Moreover, the number of people with at least one chronic disease is estimated to increase by 99.5%, from 71.522 million in 2020 to 142.66 million by 2053. This demand is particularly pronounced in both developed and developing economies, where access to healthcare services is improving, driving higher utilization rates of acute care resources.
Moreover, there is a growing emphasis on patient safety and comfort within hospital settings, necessitating specialized beds and stretchers equipped with advanced features. Manufacturers are responding to this demand by incorporating ergonomic designs, pressure-relieving surfaces, and integrated monitoring systems into their products to enhance patient well-being and optimize recovery outcomes.
Additionally, evolving hospital infrastructure and stringent healthcare regulations further drive market demand as healthcare facilities seek to maintain compliance with quality standards and accommodate expanding patient populations.
Technological advancements and innovation play a pivotal role in shaping the market landscape, with the integration of smart features and materials science driving the development of more advanced and durable beds and stretchers. This includes features like remote monitoring capabilities, antimicrobial properties, and enhanced data collection functionalities, contributing to improved patient care and infection control.
Lastly, as healthcare delivery models evolve and hospitals prioritize cost management, manufacturers are innovating to offer energy-efficient, low-maintenance products that align with hospitals’ budgetary constraints, fostering a sustainable and cost-effective approach to acute care provision.
Market Trends:
Aging Population: The global population is steadily aging, leading to a rise in chronic conditions and age-related illnesses. This, in turn, increases the demand for acute care services and, consequently, hospital beds and stretchers.
Technological Advancements: Advancements in bed and stretcher functionalities are influencing purchasing decisions in healthcare facilities. Features like pressure-relieving surfaces, bariatric capabilities, improved ergonomics, and integrated monitoring systems are gaining traction as they enhance patient comfort, safety, and overall care. For instance, smart medical beds are integrated solutions for patient care, assistance, and monitoring based on a comprehensive, multidisciplinary design approach. Research in this field is critical in the context of global aging and is powered by a surge in opportunities for accessibility solutions.
Focus on Infection Control: Hospitals are placing greater emphasis on hygiene and infection control protocols to prevent the spread of healthcare-associated infections (HAIs). This is driving demand for beds and stretchers with easy-to-clean surfaces, antimicrobial properties, and designs that minimize the risk of harboring germs. For instance, the role of the infection prevention and control team (IP&CT) in hospitals is to provide evidence-based best practice advice to protect patients, staff, and the general public from contracting healthcare-associated infections (HCAIs).
Rising Hospital Acquisitions in Emerging Economies: Increased healthcare investments and hospital acquisitions in developing countries are creating new growth opportunities for the acute care hospital bed and stretcher market. As these regions expand their healthcare infrastructure, the need for essential medical equipment will rise. For instance, in 2023, the healthcare sector experienced significant growth in merger and acquisition (M&A) activity, with a 27% increase in announced transactions. This growth came against the backdrop of strategic discussions between hospitals and health systems intensifying due to cooling macroeconomic headwinds.
Market Restraints and Challenges:
- Stringent Budget Constraints and Reimbursement Pressures: Hospitals worldwide are facing increasing financial pressure due to rising healthcare costs and limitations on reimbursements from governments and insurance companies. This can lead to a reluctance to invest in new or upgraded acute care beds and stretchers, especially when existing equipment remains functional. Hospitals may prioritize essential medical equipment or focus on cost-saving measures over acquiring advanced features in these products.
- Limited Technological Adoption in Developing Economies: While technological advancements are driving innovation in the market, particularly with smart features and integrated monitoring systems, their adoption might be limited in developing economies. These regions often face limitations in infrastructure, budget constraints, and a lack of skilled personnel to maintain and operate technologically advanced equipment. This can create a gap in the accessibility of these advancements to a significant portion of the global market.
- Focus on Short-Term Costs Over Long-Term Value: Hospitals may prioritize the initial purchase price of beds and stretchers over their long-term value proposition. This can lead to the selection of less expensive options that may not offer the same durability, functionality, or patient comfort as higher-priced models. While initial costs might be lower, these choices can result in increased maintenance costs, replacement needs earlier, and potentially compromise patient care or staff well-being.
- Stringent Regulatory Landscape and Product Safety Concerns: The market is heavily regulated to ensure patient safety and product effectiveness. Strict regulatory requirements for new product approvals and ongoing safety assessments can create lengthy and expensive processes for manufacturers. This can hinder the introduction of innovative technologies and potentially limit market growth. Additionally, concerns about product safety, such as the risk of infections or equipment malfunctions, can lead to product recalls and damage market confidence.
- Aging Infrastructure and Replacement Cycles: Many hospitals operate with an existing stock of beds and stretchers. The replacement cycle for these products can be lengthy, especially when equipment remains functional. Upgrading to newer models may not be prioritized unless there are significant breakdowns or safety concerns. This can slow down market growth as the adoption of new technologies may be delayed.
Recent Developments:
- In July 2022, an inflatable stretcher designed by student Yu-Hsin Wu of Shih Chien University in Taiwan securely wrapped the patient with multiple straps that protected them from falling when medics carried them to the ambulance. This inflatable stretcher is compact, light, and easy to assemble and use, which contrasts with the standard stretchers healthcare facilities use these days.
- In May 2022, Linet launched its premium emergency and transportation stretcher, ‘Sprint 200’. It is a part of the new generation of stretchers taking patient transportation and care to the next level with its innovative solutions.
Segmentation Analysis:
By Product Type:
- Hospital Beds: This segment holds the dominant market share due to the essential role beds play in patient care. It further divides into subcategories like:
- Electric Beds: Offer adjustability and functionalities like patient positioning, trendelenburg tilt, and height adjustment.
- Manual Beds: Cost-effective option for basic patient care needs.
- Specialty Beds: Include beds designed for specific purposes like bariatric care, pediatric care, and birthing.
- Stretchers: This segment caters to patient transport within the hospital and during emergencies. It includes:
- Wheeled Stretchers: Used for transporting patients within the hospital setting.
- Ambulance Stretchers: Specialized stretchers designed for patient transport in ambulances, offering features like straps and headrests for immobilization.
- Stair Chairs: Used for safely transporting patients who cannot use stairs independently.
Segments:
By Product Type
- Hospitals
- Ambulatory Surgical Centers
- Specialty Clinics
By End Users
- Beds
- Surgical Beds
- Maternity Bed
- Critical Care Beds
- Bariatric Beds
- Stretchers
- Emergency and Transport Stretchers
- Procedural Stretchers
- Specialty Stretchers
By Region
- North America
- Europe
- Germany
- France
- The U.K.
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-east Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East and Africa
Key player:
- Hill-Rom
- Stryker
- Getinge Group
- LINET Group
- ArjoHuntleigh
- Invacare
- Medline Industries
- Cardinal Health
- Becton Dickinson
- GE Healthcare
- Philips Healthcare
Regional Analysis:
- North America: Currently holds the dominant share of the market, driven by factors like well-established healthcare infrastructure, high patient spending, and a growing aging population. Stringent regulations and focus on advanced technologies further contribute to market growth in this region.
- Europe: Europe follows North America in market share, with a strong presence of leading manufacturers and a well-developed healthcare system. However, stringent budgetary constraints in some European countries might affect growth to a certain extent.
- Asia Pacific: This region is expected to witness the fastest growth rate in the coming years. Factors like rising disposable income, increasing healthcare investments, and a growing patient pool due to population expansion are propelling market expansion in this region. China and India are anticipated to be significant contributors to the Asia Pacific market growth.
- Latin America and Middle East & Africa: These regions are expected to show moderate growth due to developing healthcare infrastructure and increasing government investments in the healthcare sector. However, factors like limited access to advanced technologies and economic instability in certain countries might hinder significant growth.
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Future Outlook:
- Rising Demand for Healthcare Services: An aging global population and increasing prevalence of chronic diseases will lead to a continued demand for healthcare services, including hospital admissions. This will necessitate a corresponding increase in the number of hospital beds and stretchers.
- Focus on Patient Safety and Comfort: Advancements in healthcare technology are driving the development of more sophisticated hospital beds and stretchers that promote patient safety, comfort, and recovery. This includes features like pressure-relieving mattresses, adjustable positioning, and integrated monitoring systems.
- Growth in Ambulatory Surgical Centers: The rising popularity of ambulatory surgical centers (ASCs) is expected to create demand for specialized hospital beds and stretchers suited to these settings. These facilities often require equipment that is more portable and adaptable compared to traditional hospital beds.
- Technological Advancements: Continued advancements in medical technology are expected to influence the design and functionality of hospital beds and stretchers. This could include the integration of sensors for vital sign monitoring, smart features for remote control and data collection, and even robotic assistance for patient transfers.
- Need for Hospital Bed Replacement: A significant portion of the existing hospital bed inventory is nearing the end of its lifespan, creating a need for replacements to ensure patient safety and functionality.
- Focus on Cost-Effectiveness: Hospitals will likely continue to prioritize cost-effective solutions when acquiring new equipment. Manufacturers are expected to respond by offering beds and stretchers with features that improve efficiency and reduce long-term operational costs.
- Emerging Economies: Growth potential exists in emerging economies where healthcare infrastructure is developing rapidly. As these markets invest in expanding hospital capacity, the demand for acute care beds and stretchers is anticipated to rise.
- Stringent Regulations: Stricter regulations regarding patient safety and infection control will continue to influence the design and production of hospital beds and stretchers. Manufacturers will need to ensure their products comply with evolving regulatory standards.
- Consolidation in the Market: The market for acute care beds and stretchers may witness consolidation, with larger players acquiring smaller companies to expand their product portfolios and market reach.
- Focus on Sustainability: Hospitals are increasingly seeking sustainable solutions to reduce their environmental impact. This could lead to a growing demand for beds and stretchers made from recycled materials or with energy-efficient features.
