New York City, NY -- (SBWIRE) -- 11/06/2017 -- According to a new market report published by Persistence Market Research "Global Market Study on Hospital Beds: Asia to Witness Highest Growth by 2020", the global hospital beds market was valued at USD 5,254.2 million in 2014 and is expected to expand at a CAGR of 4.2% from 2014 to 2020, to reach an estimated value of USD 6,731.8 million by 2020.

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Europe has the largest market for hospital beds. This is mainly due to increasing prevalence of chronic diseases and rising healthcare spending in the region. The European market for hospital beds was estimated at USD 1,643.2 million in 2014 and is expected to reach USD 2,010.2 million in 2020, expanding at a CAGR of 3.4%. The Asian market for hospital beds is expected to increase at a significant rate due to large population base, growing hospital infrastructure, and improving reimbursement scenario in the region. On the basis of power, manual beds account for the largest and fastest growing segment. On the basis of treatment, acute care beds account for the largest segment, while critical care beds account for the fastest growing segment in the global hospital beds market.

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Hill-Rom Holdings, Inc., Getinge Group, and Stryker are some of the leading players in the global market for hospital beds. Some of the other major players in the market are Paramount Bed Co., Ltd., Invacare Corporation, and LINET spol. s r.o.

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