Project report for Adjustable Hospital Beds

In India, Adjustable Hospital Beds that are widely used in hospitals and clinics. In order to meet the functionality of the product in a hospital, these beds are made in a wide range, e.g. Fowler Hospital Bed, Semi Fowler, Plain, Recovery, Paediatric, Fracture, ICU Hospital Bed, General hospital bed with rigid mesh mattress platform. Out of these, Fowler hospital beds and General purpose bedsteads are in large demand. A hospital bed or hospital cot is a bed specially designed for hospitalized patients or others in need of some form of health care. These beds have special features both for the comfort and well-being of the patient and for the convenience of health care workers. Common features include adjustable height for the entire bed, the head, and the feet, adjustable side rails, and electronic buttons to operate both the bed and other nearby electronic devices. Hospital beds and other similar types of beds such as nursing care beds are used not only in hospitals, but in other health care facilities and settings, such as nursing homes, assisted living facilities, outpatient clinics, and Home health care. The growth rate is expected to be substantial. As such there is a vast scope for the steel furniture manufacture units to take up this activity for not only as a diversification but also better capacity utilization by installing a few balancing equipments. The market for motorized adjustable bed bases is expanding, as the mattress industry has begun to heavily promote them to consumers as a comfort and lifestyle choice.

The global hospital bed market size was INR 2,76,6270 Crores in 2019, and it is predicted to progress at a CAGR of 7.5% during the forecast period 2020–2030. The growth of the market can be mainly attributed to growing aging population, technological advancements, and rising prevalence of chronic diseases. Furthermore, chronic diseases such as heart disease, cancer, and diabetes are the leading causes of death and disability worldwide. According to the data published by the International Diabetes Federation (IDF), in 2019, around 463 million adults 20–79 years were living with diabetes, and this number is expected to reach 700 million by 2045. The past few decades have witnessed a transformation in the global healthcare environment. Many countries across the globe have experienced unprecedented economic growth. This rapid growth in the healthcare industry is largely fueled by widespread policy reforms, economic liberalization, the rapidly growing middle-class populations with increasing purchasing power, and increased investments in infrastructural development.

The ongoing COVID-19 pandemic has shown positive impact on the hospital bed industry. The growing number of COVID-19 patients worldwide is the major reason behind the increased demand for these beds. Furthermore, companies are launching new products to meet the demand worldwide. Increase in the rate of hospitalization due to recent outbreak of COVID-19 pandemics is another major reason driving the hospital bed market. However, the decreasing number of beds in public hospitals and rising price of hospital beds are the major challenges for the growth of hospital bed market. The development of smart or robotic hospital beds, rising need for home care beds, the growth of emerging economies and the medical tourism industry are major opportunities in this market.