(EnergyIndustry.Net, March 05, 2021 ) Meticulous Research® – leading global market research company published a research report titled “European Hospital Beds Market by Product (Beds, Accessories), Area of Use (Critical, Bariatric, Med Surg, Pediatric, Maternal), Technology (Powered, Manual), Type of Care (Curative, Long Term), and End User (Hospital, Homecare)-Forecast to 2024”.
According to this latest publication from Meticulous Research®, the European hospital beds market is expected to grow at a CAGR of 3.9% from 2018 to reach $1,102.0 million by 2024. The growth of this market will be driven by factors such as increasing elderly population coupled with growing prevalence of chronic diseases and launch of technologically advanced beds. Moreover, emergence of smart beds and robotic beds and growing demand for beds for long-term care further supports the growth of this market. However, rising preference to minimally invasive surgeries (eliminating necessity of longer hospital stays) and decreasing number of hospitals and hospital beds in some of the European countries restrains the growth of this market to some extent.
The European hospital beds market study presents historical market data in terms of values (2016 and 2017), estimated current data (2018), and forecasts for 2024-by product (beds, accessories), area of use (critical care, long-term care, bariatric care, med-surg, homecare, pediatric, and maternal), type of care (curative care, rehabilitative care, long-term care), technology (manual, powered), end user (hospitals, elderly care settings, homecare, and others), and geography. The study also evaluates industry competitors and analyzes the market at regional and country level.
On the basis of product, beds commanded the largest share of the European hospital beds market in 2017. However, accessories are expected to witness a rapid growth during the forecast period mainly due to growing demand for custom accessories such as extensions, side rails, and side trays.
On the basis of area of use, the critical care segment commanded the largest share of European hospital beds market in 2017. The large share is attributed to greater hospital admissions due to chronic illness and accidental injuries, and high dollar value of beds used in critical care. However, homecare segment is expected to witness a rapid growth during the forecast period mainly due to growing preference of geriatric population towards homecare as an affordable and convenient way of healthcare.
On the basis of type of care, curative care commanded the largest share of European hospital beds market in 2017 due to growing inpatient population at healthcare facilities resulting out of old age, chronic and infectious diseases, and physical injuries. However, long-term care market is expected to witness a rapid growth during the forecast period with the increasing aging population and favorable regulatory reforms for long-term care in various European countries.
On the basis of technology, powered beds commanded the largest share of European hospital beds market in 2017 and are expected to witness a rapid growth during the forecast period. This is mainly due to its various features such as position adjustment, presence of monitoring sensors, and fall detection – offering greater patient safety as well as improve caregiver performance by reducing repetitive strain injuries (RSI).
On the basis of end-user, hospitals commanded the largest share of European hospital beds market in 2017. This is attributed to relatively greater patient access to healthcare and increasing prevalence of various acute and chronic diseases resulting in greater admission rate in hospitals.