The US and Europe smart hospital beds market is expected to grow from US$ 405.20 million in 2022 to US$ 859.45 million by 2028; it is expected to grow at a CAGR of 13.4% from 2022 to 2028.
Increasing investments in healthcare infrastructure, rising advantages of smart beds, and the growing geriatric population are a few factors driving the US and Europe smart hospital beds market growth.
Automation has led to a reduced dependency on human workforces in many industries. Adopting technically advanced products has impacted ~90% of the work performed daily by individuals. Technological advancements have abundantly benefitted the healthcare sector, and numerous hi-tech medical devices with embedded control functions are now available for the efficient operation of this sector. Smart beds indicate technological progress in the healthcare sector. These beds have become an integral part of hospitals, nursing care facilities, specialized clinics, and home care.
Smart hospital beds are equipped with all necessary specifications that enable efficient operations of healthcare providers or caregivers. They enable faster recovery of patients by making the necessary movements hassle-free. These beds are also equipped with monitoring systems that can be used to send alerts to nurses. Companies also offer smart beds with communication systems that connect directly to nursing departments. Communications allow nurses to remotely monitor patients' medical conditions and vital functions. In addition, smart beds are now combined with remote sensors, further contributing to better infrastructures. Other advantages of modern smart beds include their ability to identify patients’ health patterns, keep healthcare providers well-informed, and assist them in decision-making related to health and intervention.
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US and Europe Smart Hospital Beds Market: Strategic Insights
Market Size Value in US$ 405.20 million in 2022 Market Size Value by US$ 859.45 million by 2028 Growth rate CAGR of 13.4% from 2022 to 2028 Forecast Period 2022 to 2028 Base Year 2022
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US and Europe Smart Hospital Beds Market: Strategic Insights
| Market Size Value in | US$ 405.20 million in 2022 |
| Market Size Value by | US$ 859.45 million by 2028 |
| Growth rate | CAGR of 13.4% from 2022 to 2028 |
| Forecast Period | 2022 to 2028 |
| Base Year | 2022 |
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A few other features of smart hospital beds include height adjustment features, smart side rails, and wireless connections. The transformation of normal hospital beds to highly networked devices that use software solutions is categorized as Class II medical devices. With further upgrades in smart bed technologies, these beds are anticipated to deliver research information on different medical and health aspects, perform statistical analysis, and collect patient data. These potential abilities of smart hospital beds encourage significant investments in the modernization of healthcare infrastructure, leading to the growing demand for smart hospital beds.
According to estimates provided by the Organization for Economic Cooperation and Development (OECD) in 2021, OECD member countries have increased the overall healthcare expenditure from 3% in 2018 to 8% by 2030. For instance, European Union (EU) launched EU4Health Programme with an investment of US$ 5 billion (€5.3 billion), focusing on reinforcing health data collected from patients, digital tools and services, and digital transformation of healthcare. The UK has plans to invest US$ 1.6 billion (£2 billion) in the digital transformation of the National Health Services (NHS). Such investments are likely to enhance the installation of smart hospital beds in the healthcare sectors in European countries.
Lucrative Regions for US and Europe Smart Hospital Beds Market
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Application Segment Insight
Based on application, the smart hospital beds market is segmented into less than product and fall prevention, pressure injury prevention, patient deterioration and monitoring, and others. The fall prevention segment held the largest market share in 2022, and the others segment is anticipated to register the highest CAGR during the forecast period. Patients fall prevention in hospitals is an important part of a patient safety plan. Also, patient falls are among the leading cause of morbidity and mortality in hospitals and healthcare systems, accounting for at least 30% of occurrences resulting in severe injuries to the patient. The CareView company article reveals that hospital falls have increased costs by ~US$ 14,000 per patient stay on average. Also, the average fall costs about US$ 8,000 in diagnostic testing. Therefore, companies are designing smart hospital beds with five main features: low height beds, bed-exit detection systems, bed event data and history logs, staff communication, and a clear view of surroundings. The Centrella smart beds incorporated at the University Hospital involve technology to reinforce patient safety measures and make it convenient for nurses. The new smart bed offers a variety of safety features, such as a motion-activated night light, and is connected to the hospital's call system for alerts to be intimate directly in the nurse's smartphone. Such technological advancement and innovative smart hospital bed designs ultimately influence the fall prevention segment growth, thereby dominating the smart hospital beds market growth.
A rise in the prevalence of chronic diseases such as diabetes, cancer, etc.; lifestyle diseases such as obesity; rapid growth of the geriatric population; longer hospital stay after necessary surgery procedure; technological advancements in smart hospital beds; and favorable reimbursement policies are a few factors expected to fuel the growth of the smart hospital beds market in the US.
In addition, patients suffering from chronic diseases such as diabetes, cancer, cardiovascular disease, immune deficiencies, multiple sclerosis, and rheumatoid arthritis need long-term monitoring and treatment. This leads to regular hospital visits, and in the condition of multiple chronic diseases, the patient is required to stay in the hospital for a longer period of time. Smart beds are expected to benefit patients and improve health systems by delivering research information on medical and health status, statistical analysis, and data collection. Collecting data on patients increases efficiency and accurate diagnostics for healthcare providers and medical professionals while paving the way to reduce the number of hospital readmissions. Smart beds can create a network of connected devices, mechanical and digital gear, or people with unique identifiers and the ability to send data rapidly. Also, the market players are introducing advanced technology in smart hospital beds; for example, in October 2020, Stryker introduced the ProCuity smart bed, a completely wireless hospital bed with many smart patient monitoring capabilities. Stryker's Secure Connect technology, which offers a wireless connection to nurse call systems, has been incorporated into ProCuity.
US and Europe Smart Hospital Beds Market, by Product Type – 2022 and 2028
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Companies operating in the smart hospital beds market adopt the product innovation strategy to meet the evolving customer demands worldwide, permitting them to maintain their brand name in the global market.
Smart Hospital Beds Market – Segmentation
Based on patient weight, the smart hospital beds market is segmented into less than 70 lb, 70 to 150 lb, 150 to 400 lb, 400 to 500 lb, and greater than 500 lb. Based on offerings, the smart hospital beds market is segmented into products & accessories, software & solution, and services. Based on application, the market is categorized into fall prevention, pressure injury prevention, patient deterioration and monitoring, and others. Based on smart hospital beds end user, the market is segmented into hospitals, clinics & nursing home, ambulatory surgical centers, medical laboratories, long-term care centers, and others. Based on region, the market is primarily bifurcated into the US and Europe. The market in Europe is further segmented into Germany, the UK, France, Italy, Spain, and the Rest of Europe.
A few of the leading companies operating in the US and Europe smart hospital beds market are Hill-Rom Holdings, Inc.; Stryker; Arjo; Invacare Corporation; PARAMOUNT BED CO., LTD.; GF Health Products, Inc.; Malvestio Spa; Span America; Savion Industries; and Stiegelmeyer GmbH & Co. KG.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Patient Weight, Offering, Application, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The CAGR value of the smart hospital beds market during the forecasted period of 2022-2028 is 13.4%.
400 to 500 lb segment held the largest share of the market in the US and Europe smart hospital beds market and held the largest market share in 2022.
Key factors that are driving the growth of this market are increasing investments in healthcare infrastructure and advantages of smart beds growing geriatric population to boost the market growth for the smart hospital beds over the years.
Smart hospital beds are integrated solutions for supporting and monitoring patient care based on a multidisciplinary design approach. Smart hospital beds support patients that enables the doctors to deliver a thorough checkup and administer treatment and other medical facilities. Along with technological developments, hospital beds are also converted to watch a patient’s resting movement. A smart hospital bed is well-furnished with the most advanced technology for patient care.
The fall prevention segment dominated the US and Europe smart hospital beds market and held the largest market share in 2022.
The smart hospital beds market majorly consists of the players such Hill-Rom Holdings, Incc, Stryker, Arjo, Invacare Corporation, PARAMOUNT BED CO., LTD., GF Health Products, Inc., Malvestio Spa, Span America, Savion Industries, Stiegelmeyer GmbH & Co. KG, and Other Market Participants .
Hill Rom Holdings, Inc. and Stryker are the top two companies that hold huge market shares in the US and Europe smart hospital beds market.
The US and Europe smart hospital beds market is segmented by region into US, Europe region overall and information by separate countries such as the UK, Germany, France, Italy, Spain, and Rest of Europe. The US held the largest market share of the smart hospital beds market in 2022.
The List of Companies - US and Europe Smart Hospital Beds Market
- Hill-Rom Holdings, Inc.
- Stryker
- Arjo
- Invacare Corporation
- PARAMOUNT BED CO., LTD.
- GF Health Products, Inc.
- Malvestio Spa
- Span America
- Savion Industries
- Stiegelmeyer GmbH & Co. KG
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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