Increasing Hospitalization Rates to Fuel Sales of Hospital Beds in Future
The increasing incidence of chronic diseases in several countries is pushing up the rate of hospitalization, which is, in turn, boosting the demand for hospital beds massively. Many chronic diseases such as hepatitis, cancer, chronic obstructive pulmonary disease (COPD), viral diseases, and cardiovascular disorders cannot be cured by drugs and medications and require hospitalization. As per the findings of the World Health Organization (WHO), “non-communicable diseases were the leading cause of mortality, comprising 71% of all deaths in 2016”. The report further said “cardiovascular diseases are the leading cause of deaths, globally”.
Besides the growing hospitalization rate, the rapid technological advancements and innovations in the healthcare industry are also fueling the rise in the sales of hospital beds across the world. Many hospital bed manufacturing companies are increasingly focusing on developing hospital beds integrated with advanced technologies such as the internet of things (IoT). In addition to this, they are manufacturing beds having power mattresses, that provide greater comfort than the conventionally used beds by redistributing pressure.
Access Report Summary - Hospital Bed Market Growth Forecast Research Report
Apart from the aforementioned factors, the increasing healthcare expenditure in both developing and developed nations is also contributing to the booming sales of hospital beds. Due to these factors, the global hospital bed market is predicted to exhibit rapid expansion in the future years. There are multiple types of hospital beds used throughout the world namely bariatric, birthing, pediatric, pressure relief, and general beds. Out of these, the usage of the general beds was observed to be the highest in the past, mainly because of their affordable prices as compared to the other beds.
Out of these end users, the utilization of the hospital beds is predicted to rise at the fastest rate in the home care settings during the coming years. This is attributed to the rising preference for home medical services amongst the people. Geographically, the European hospital bed market is predicted to register the highest growth in the upcoming years. This is due to the existence of numerous established hospital bed manufacturing companies, rapid technological advancements in the healthcare industry, growing geriatric population, and the increasing incidence of chronic diseases in the region.
Hence, it can be said with surety that the market will record rapid growth in the future years, on account of the rising incidence of chronic diseases, the increasing population of elderly people, and the rising hospitalization rates in several countries around the world.