Latin America Hospital Beds Market

Latin America Hospital Beds Market Size (2023 to 2028)

The size of the Latin American hospital beds market is estimated to be growing at a CAGR of 4.98% during the forecast period.

The rising prevalence of chronic diseases, increasing incidents of accidental injuries and injuries, and increasing investments in healthcare are expected to drive the Latin American hospital beds market growth. Moreover, increasing healthcare expenditure and the growing geriatric population is contributing to the growth of the market. According to the Population Reference Office, the number of people aged 65 and over is expected to more than double, from 48 million in 2018 to more than 101 million by 2050.

The aging population leads to an increase in chronic diseases and associated hospitalizations, generating demand for hospital beds. In addition, demographic shifts and changes in disease characteristics and the resulting pressure on health services are expected to drive demand for beds. Other factors driving the demand for hospital beds include technological innovations in healthcare and medicine, the growing middle-class population, and the resulting demand for better healthcare infrastructure with state-of-the-art medical facilities, which stimulates investment in healthcare.

The growing wealth of emerging countries such as Brazil and Argentina and the focus on improving healthcare services through increased budget allocations bode well for the future of the hospital bed market. In addition, the increase in the number of private hospitals is expected to play an important role in meeting the demand for hospital beds.

However, despite efforts by governments and manufacturers to improve the outlook for hospital beds, the lack of hospital spending in developing countries is expected to dampen the growth of the hospital beds market in Latin America. In addition, the rising cost of specialty beds, the declining number of beds in public hospitals, and fierce battle among the hospital bed varieties from local manufacturers and those from china could hamper market growth during the forecast period.

Impact of COVID-19 on the Latin American hospital beds market:

The Covid-19 pandemic has caused a sudden surge in demand as countries worldwide to rush to add additional hospital beds. In addition, the pandemic is also expected to cause a surge in the healthcare sector in both developed and developed markets, leading to increased demand for hospital beds.

In the midst of the COVID-19 crisis, the Latin American hospital bed market is experiencing a supply and demand crisis due to the closure of hospital bed manufacturing and distribution units in the regions.

With the implications of the pandemic and the induced economic crisis, the market growth is expected to have a good growth rate in the post-COVID period. General hospital beds are widely used in intensive and long-term care facilities. In addition, the increased need for rehabilitation for post-COVID complications, drug addicts, and AIDS patients, the growing demand for assisted living services, and the growth of home care services are adding to the demand for general hospital beds.

This research report on the Latin American Hospital Beds Market has been segmented and sub-segmented into the following categories.

By Usage:

• Acute care beds
• Long term care beds
• Psychiatric care beds
• Others (maternity, etc.)

By Power:

• Electric Bed
• Semi-Electric Bed
• Manual Bed

By End-User:

• Hospitals
• Clinics
• Ambulatory services
• Others

By Country:

• Mexico
• Brazil
• Argentina
• Chile
• Rest of Latin America

Geographically, Brazil, followed by Mexico and Columbia, is expected to lead the Latin American hospital beds market during the forecast period. With more than 330,000 beds, Brazil had the highest number of hospital beds in Latin America and the Caribbean in 2019. Mexico was second, with almost 170,000 hospital beds, followed by Colombia, with nearly 85,000 beds. During this year, Brazil was also the leader in the region in several operating rooms.

Growing population, a growing middle class, and ever-increasing demand and demands for sanitary facilities make Latin America one of the fastest-growing markets for hospital beds. To make up for the lack of health facilities, Latin American countries are investing heavily to modernize existing facilities and build new ones, resulting in increased demand for hospital beds. In addition, the increasing number of hospitals in developing countries such as Ecuador, Chile, Uruguay, and Puerto Rico and the high demand for beds in maternity units are also the key factors expected to propel the growth of the Latin American hospital beds market.

KEY MARKET PLAYERS:

A few of the prominent companies operating in the Latin American hospital beds market profiled in this report are Invacare Corporation, Paramount Bed Holdings Co. Ltd., Gendron Inc., Medline Industries Inc., LINET spol. S r.o., Savaria Corporation, Savion Industries, Hill-Rom Holdings Inc., Stryker Corporation, and Getinge Group.