Global Co-refining Market on a Strong Growth Trajectory: Industry Size Estimated to Reach USD 73.0 Billion by 2034 at a 6.0% CAGR

The global hospital beds market, valued at US$ 4.1 Bn in 2024, is projected to grow at a CAGR of 4.9% from 2025 to 2035, reaching US$ 7.1 Bn by the end of the forecast period. An expanding elderly population, rising demand for quality healthcare services, and continuous advancements in medical technology are key factors propelling market growth. As healthcare facilities around the world expand—particularly in emerging economies—the need for innovative, patient-centered hospital beds is on the rise.

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Analysts’ Viewpoint

The hospital beds market is witnessing sustained growth due to several drivers, including an increasing number of elderly patients requiring prolonged care, the rising prevalence of chronic ailments, accidents, and the rapid expansion of healthcare facilities globally. Innovations in hospital bed design—featuring advanced functionalities such as automated patient positioning, vital sign tracking, and pressure sore prevention—have significantly enhanced patient care and operational efficiency. Additionally, the growing trend toward home healthcare is creating new market opportunities for specially designed home-care beds that offer comfort and support for long-term care.

Market Introduction

Hospital beds are a critical component of patient care, ranging from basic support to sophisticated intensive care applications. Modern hospital beds are designed to optimize patient comfort, simplify care delivery, and promote operational efficiency. These beds are now equipped with features such as adjustable heights, electronic controls, integrated monitoring systems, and designs that ease infection control. With a growing emphasis on personalized care, healthcare providers are increasingly seeking beds that can cater to specific needs such as long-term rehabilitation, acute care, and home healthcare settings.

Market Drivers

• Increasing Number of Aging Population:
  The global rise in the elderly population is a significant driver of the hospital beds market. Aging individuals are more prone to chronic diseases, requiring extended hospital stays, post-surgery care, and rehabilitation, all of which boost the demand for advanced hospital beds. Countries like Japan and those in North America are already experiencing a surge in demand due to their rapidly aging populations.
• Rising Advancements in Healthcare Infrastructure:
  Expansion in healthcare facilities, both in urban and rural areas, is fueling market growth. Government initiatives and policies aimed at improving healthcare access—such as increased funding under programs like the Affordable Care Act in the U.S.—are prompting hospitals to modernize their facilities with state-of-the-art hospital beds that ensure patient comfort, safety, and operational efficiency.
• Innovation in Bed Design and Functionality:
  Recent advancements in hospital bed technology have led to the development of beds that offer enhanced patient monitoring, automatic repositioning, and features to reduce the risk of bedsores. These innovations are not only improving the quality of patient care but also streamlining hospital operations, which is particularly critical in long-term and acute care settings. Moreover, the trend toward home healthcare has spurred demand for home-care beds designed for patient comfort and ease of use.

Regional Outlook

North America is expected to hold the largest share of the global hospital beds market through 2035. The U.S. plays a pivotal role due to its advanced healthcare infrastructure, high demand driven by the aging baby boomer population, and significant investments in healthcare modernization. Additionally, government initiatives to expand healthcare coverage and improve the quality of care further fuel market growth in the region.

Analysis of Key Players

Key players in the hospital beds market are continuously innovating to meet the evolving demands of healthcare providers. Prominent manufacturers include:

• Medline Industries Inc
• Antano Group S.R.L.
• Invacare Corporation
• Savaria Corporation
• Linet SPOL S.R.O.
• Med-Mizer Inc
• Stryker Corporation
• Amico Corporation
• Burke Bariatric Inc
• Midmark Corporation
• Graham Field
• Novum Medical Products
• Baxter Corporation
• Getinge AB
• Stiegelmeyer GmbH & Co

These companies are focusing on expanding their product portfolios and incorporating advanced features that enhance patient safety, comfort, and care delivery. Their strategic initiatives, such as the launch of wireless hospital beds and innovations in adjustable bed technology, are positioning them to capitalize on the growing demand.

Key Developments

• June 2024: Noida International Institute of Medical Sciences (NIIMS) Hospital significantly expanded its hospital bed capacity from 450 to over 750 beds, reflecting the growing need for modern healthcare facilities.
• February 2021: Stryker Corporation launched its wireless hospital bed series, ProCuity, designed to reduce patient falls and improve nurse workflow efficiency—an innovation that has set new benchmarks in patient care and operational safety.

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Market Analysis

The market analysis encompasses both segment and regional evaluations. Qualitative insights address key drivers, restraints, opportunities, and emerging trends, while quantitative analyses include Porter’s Five Forces, value chain assessments, and trend analyses, providing stakeholders with a comprehensive understanding of market dynamics.

Competition Landscape

• Market Share Analysis:
  Detailed company profiles provide insights into product portfolios, strategic initiatives, sales footprints, and financial performance.
• Format:
  Reports are available in electronic (PDF) format, with supplementary Excel datasets for enhanced analysis.

Market Segmentation

• By Type:
• Electric Beds
• Semi-electric Beds
• Manual Beds
• By Application:
• Acute Care
• Psychiatric Care
• Long-term Care
• Others (e.g., Maternity care)
• By End-user:
• Hospitals
• Home Care Settings
• Elderly Care Facilities
• Ambulatory Surgical Centers
• Others (e.g., Nursing Homes)

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Frequently Asked Questions (FAQs)

How big was the global hospital beds market in 2024?
• The market was valued at US$ 4.1 Bn in 2024.

How big will the hospital beds market be in 2035?
• The market is projected to cross US$ 7.1 Bn by the end of 2035.

What are the key factors driving the hospital beds market?
• Increasing aging population and rising advancements in healthcare infrastructure are the primary drivers.

What is the anticipated CAGR for the hospital beds market from 2025 to 2035?
• The market is expected to grow at a CAGR of 4.9%.

Which region is expected to hold the largest share in the hospital beds market?
• North America is projected to account for the largest share throughout the forecast period.

Who are the prominent providers in the hospital beds market?
• Leading providers include Medline Industries Inc, Antano Group S.R.L., Invacare Corporation, Savaria Corporation, Linet SPOL S.R.O., Med-Mizer Inc, Stryker Corporation, Amico Corporation, Burke Bariatric Inc, Midmark Corporation, Graham Field, Novum Medical Products, Baxter Corporation, Getinge AB, and Stiegelmeyer GmbH & Co.

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