Medical Beds Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

 Manual medical beds are patient beds that use manual cranks to adjust the bed for the patient's comfort. Due to the lack of risk of motor failure, lower cost, and easy-to-use mechanisms manual medical beds are anticipated to boost the segment growth over the forecast period. In addition, the increasing burden of chronic diseases and the growing geriatric population are expected to boost the market growth over the study period.

According to the World Population Prospects 2022 by the United Nations DESA, 771 million people worldwide are estimated to be 65 or older in 2022. Furthermore, according to the same source, by 2030, there will be 994 million older people in the world, and by 2050, there will be around 1.6 billion elderly population. The growing geriatric population who are more prone to chronic diseases increases the risk for hospitalizations and is expected to boost the market to grow over the forecast period.

Furthermore, new collaborations and acquisitions among the market players increase the widespread distribution of products which is expected to drive the market to grow. For instance, in December 2021, Baxter International Inc completed the acquisition of smart hospital bed maker Hillrom. Thus, the collaborations and acquisitions of medtech organizations will share vision for transforming healthcare and advancing patient care worldwide which is expected to boost the market growth over the forecast period.

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.

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