Europe has the largest market for hospital beds, which was estimated at USD 1,643.2 million in 2014. This is expected to reach USD 2,010.2 million by 2020, expanding at a CAGR of 3.4%.
New York, NY -- (SBWIRE) -- 04/10/2015 -- 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.
Browse the full Global Market Study on Hospital Beds: Asia to Witness Highest Growth by 2020 report at http://www.persistencemarketresearch.com/market-research/hospital-beds-market.asp
Hospital beds refer to medical equipment used by patients during hospitalization in hospitals, nursing homes, and homes. Hospital beds are equipped with wheels to facilitate easy transfer and side rails to prevent patients from falling off the beds. Moreover, special features such as adjustable heights of bed and side rails, electronic buttons, and connected electronic devices make hospital beds very convenient for caretakers and patients.
Factors such as increasing aging population, rising prevalence of chronic diseases, and growing healthcare spending are driving the global hospital beds market. However, decreasing demand for general hospital beds in developed countries and high costs of advanced hospital beds are some of the key restraints for the hospital beds market. The global hospital beds market was estimated at USD 5,254.2 million in 2014 was and is expected to expand at a CAGR of 4.2% to reach USD 6,731.8 million by 2020.
Europe has the largest market for hospital beds, which was estimated at USD 1,643.2 million in 2014. This is expected to reach USD 2,010.2 million by 2020, expanding at a CAGR of 3.4%. In terms of power, manual beds account for the largest segment in the hospital beds market. On the basis of treatment, acute care beds are the largest segment. In terms of usage, general purpose beds account for the largest and fastest growing segment in the hospital beds market.
Healthcare companies such as Hill-Rom Holdings, Inc., Getinge Group, and Stryker are the leading players in the global market for hospital beds. Some of the other major players in hospital beds market are Paramount Bed Co., Ltd., Invacare Corporation, and LINET spol. s r.o.
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The hospital beds market is segmented as follows:
1) By Usage
General purpose beds
Pressure relief beds
2) By Power
3) By Treatment
Critical care beds
Acute care beds
Long-term care beds
4) By Geography
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