In these countries, the hospital beds market is expected to benefit from government initiatives to strengthen hospital bed production and the presence of a large pool of patients suffering from chronic ailments. In addition, emerging economies, such as China and India, have a massive potential in the hospital beds market, as their respective populations are increasing and are expected to increase further in the coming years; this is expected to drive demand for hospital beds in the regions. In addition, the government of China has taken several measures to increase hospital bed production owing to the outbreak of COVID-19, which will have a positive impact on the demand for hospital beds in the country. The market is expected to benefit from the need for hospital beds from Asia-Pacific, expected to grow at the highest CAGR. These hospital bed companies like nursing hospital beds Hebei china supplier have a broad geographical reach, diversified product portfolio, and a strong focus on innovation and research activities. Let's now look at the five main factors driving the hospital bed industry to grow globally.
The hospital bed industry is experiencing growth due to five main factors.
1. Aging population: According to the United Nations data, the world's population is expected to increase to 50% more people over 65 by 2050. It is projected that older people will double globally in the next 50 years. With an aging population, the demand for hospital beds is expected to rise compared to the need for neonatal and pediatric care beds. Demand for hospital beds for older adults is projected to increase to 10% of the global market during the forecast period; this is expected to increase demand for hospital beds and drive the need for hospital beds globally.
2. Chronic illnesses: According to the World Health Organization (WHO) research, chronic diseases cause more than a third of all deaths worldwide. These conditions, such as heart diseases, cancer, diabetes, and infections, require a more significant number of hospital beds than patients with acute illnesses. According to WHO data, the number of patients suffering from chronic conditions is expected to rise in the coming years due to advancements in medical treatments; this is expected to increase demand for hospital beds in the global market and drive these products.
3. Rising cases of COVID-19: The number of COVID-19 cases is increasing rapidly, as per WHO reports. According to WHO data, the number of COVID-19 cases is expected to rise in the coming years, creating a demand for hospital beds. The market is likely to benefit from the presence of a large pool of patients suffering from chronic ailments, which will need hospital beds. Furthermore, future outbreaks of COVID-19 could result in large numbers of patients requiring hospital beds for observation and treatment; this is expected to drive the demand for hospital beds in North America and Europe and is expected to create a market for hospital beds in these regions.
4. Improving healthcare infrastructure: With the spread of COVID-19, several countries, including the United States, China, and India, have developed and implemented strategies to ensure the availability of hospital beds and medical equipment and to ensure that healthcare workers are equipped to handle the demand for hospital beds. Healthcare authorities around the world are also working on ensuring that the infrastructure for healthcare is developed to manage patients with COVID-19; this will improve the healthcare infrastructure and ensure that patients get the best medical care; This will drive the demand for hospital beds in the coming years.
5. Increasing disposable income: In low- and middle-income countries, healthcare is still expensive; most of these patients have to pay for their medical treatment. However, the disposable income of these patients increased rapidly due to the economic growth; This contributed to the development of healthcare infrastructure, which helped in providing better services to these patients and has driven the demand for hospital beds in these countries. However, with the increasing disposable income, more patients will be able to afford medical treatment, which will drive the demand for hospital beds in low- and middle-income countries in the coming years.
According to a nursing hospital beds Hebei china supplier, some of these factors could vary by region and mix all the elements differently.
Healthcare authorities worldwide are working on ensuring that the infrastructure for healthcare is developed to handle patients with chronic conditions, such as COVID-19; This will support the market for hospital beds by ensuring that patients with chronic illnesses are provided medical care.