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
The European medical/hospital beds market is expected to grow at a CAGR of 3.9% from 2018 to reach $1,102 million by 2024.
Succeeding an extensive secondary and primary research and in-depth analysis of the market scenario, the report carries out an impact analysis of the key industry drivers, restraints, opportunities, and trends. The factors such as increasing elderly population coupled with growing prevalence of chronic diseases and launch of technologically advanced beds - are driving the growth of European medical/hospital beds market. Moreover, emergence of smart beds and robotic beds and growing demand for beds for long-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 hinder the growth of this market.
Medical beds commanded the largest share of European medical/hospital beds market by product 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.
The medical beds market for hospitals (end user segment) commanded the largest share of European market in 2017. This is attributed to growing healthcare expenditure across the region and increasing prevalence of various acute and chronic diseases resulting in greater admission rates in hospitals.
An in-depth analysis of the European region provides detailed qualitative and quantitative insights of seven regions, namely, Russia, Germany, France, U.K., Italy, Spain, and rest of Europe (RoE). Russia commanded the largest share of the European medical/hospital beds market in 2017, followed by France, the U.K., Germany, Italy, and Spain. The large share of this region is mainly attributed to the factors such as large population base, aging population, prevalence of chronic illnesses, and presence of large number of hospitals coupled with greater access to healthcare.
The major players operating in the European medical/hospital beds market are Stryker Corporation, Hill-Rom Holding, Inc., Invacare Corporation, Getinge AB, Paramount Bed Holdings Co., Ltd., Medline Industries, Inc., Joh. Stiegelmeyer GmBH & Co. KG, Gendron Inc., LINET Group SE, Joerns Healthcare LLC., Span-America Medical Systems, Inc., Savion Industries, and Malvestio Spa.
Scope of the Report:
Market by Product
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