The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Hospital Bed Management Systems Global Market Report 2024, the hospital bed management systems market is expected to show significant growth in the forecast period.

Introduction

The hospital bed management systems market has seen significant growth in recent years, expanding from $1.97 billion in 2023 to a projected $2.17 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. This growth has been driven by various factors, including increased demand in multiple industries and the rising need for efficient hospital operations.

Key Drivers of Market Growth

Aerospace Industry Demand

• High demand for advanced materials and systems.
• Innovations in aerospace technology impact hospital bed management.

Automotive Lightweighting Initiatives

• Shift towards lightweight materials for better fuel efficiency.
• Influence on manufacturing processes and technologies.

Renewable Energy Infrastructure Development

• Growth in renewable energy projects.
• Need for efficient management systems in new infrastructure.

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Marine Industry Applications

• Increasing use of advanced systems in marine applications.
• Cross-industry innovations benefiting hospital bed management.

Sports and Leisure Equipment

• Technological advancements in sports and leisure.
• Influence on material composition and manufacturing techniques.

Future Market Projections

The market is expected to grow further, reaching $3.16 billion by 2028 with a CAGR of 9.8%.

Key Growth Factors

• Electric Vehicle Growth: Expansion of the electric vehicle market drives technological advancements.
• Wind Energy Sector Expansion: Increased investment in wind energy projects.
• Infrastructure Rehabilitation Projects: Growing need for modernized infrastructure.
• Focus on Sustainable Construction: Emphasis on eco-friendly building practices.
• Medical Industry Applications: Enhanced demand for efficient hospital management systems.

Major Trends

• Advancements in Manufacturing Technologies: New methods improving efficiency.
• Innovations in Material Composition: Development of new materials.
• Expanding Applications in Renewable Energy: Wider use in energy projects.
• Market Growth in Construction and Infrastructure: Increased adoption in building projects.
• Adoption in Automotive Manufacturing: Use of advanced systems in car production.

Rise in Hospitalized Diseases Fuels Market Growth

The increase in hospitalization rates significantly boosts the hospital bed management systems market.

Increased Hospitalization Rates

• Rise in diseases leading to higher hospitalization.
• Hospital bed management systems crucial for efficient resource allocation.

Example: CDC Report on Healthcare-Associated Infections

• November 2022 report shows a 12% increase in ventilator-associated events.
• Highlights the need for better hospital bed management.

Strategic Partnerships Drive Innovation

Major companies are focusing on strategic partnerships to innovate and stay competitive.

Example: GE HealthCare Partners and Apprise Health Insight

• Partnership launched an automated hospital bed management tool in October 2021.
• Tool manages hospital capacity and resources effectively, especially during the COVID-19 pandemic.

LeanTaaS Expands Through Acquisition

LeanTaaS Inc. acquired Hospital IQ Inc. in January 2023 to enhance its capabilities.

Acquisition Details

• Acquisition aimed at improving patient access and staff satisfaction.
• Focus on solving capacity management and staffing shortages.

Market Segmentation

The hospital bed management systems market is segmented by component, mode of delivery, type, and end user.

By Component

• Services
• Software

By Mode of Delivery

• On-Premise
• Cloud-Based

By Hospital Bed Management Systems Type

• Acute Care Bed
• Critical Care Bed
• Long-Term Care Bed
• Other Types

By End User

• Hospitals
• Ambulatory Surgical Centers
• Other End Users

Regional Insights

• North America: Largest market in 2023.
• Asia-Pacific: Expected to see rapid growth in the coming years.

Conclusion

The hospital bed management systems market is poised for continued growth, driven by technological advancements, strategic partnerships, and increasing hospitalization rates. Stakeholders must stay informed about market trends and innovations to leverage the opportunities in this expanding market.

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