India Hospital Beds Market, By Region, Competition, Forecast and Opportunities, 2020-2030F

Report
87 Pages
June 2024
Region: India
TechSci Research
ID: 5174092

The ICU Beds Segment is Experiencing the Fastest Growth, with West India Emerging as the Largest Regional Market

India Hospital Beds Market was valued at USD 834.61 million by 2024 and is anticipated to project robust growth in the forecast period with a CAGR of 7.99% through 2030. As of 2020, India possesses a total of 43,486 private hospitals, 1.18 million beds, 59,264 ICUs, and 29,631 ventilators. In contrast, there are 25,778 public hospitals with 713,986 beds, 35,700 ICUs, and 17,850 ventilators. Private infrastructure constitutes approximately 62% of India’s overall health infrastructure.

One of the primary drivers of the hospital beds market in India is the increasing prevalence of chronic diseases. Conditions like heart disease (In India, the burden of cardiovascular disease (CVD) is significantly greater than the global average. For instance, the age-standardized death rate for CVD in India (282 deaths per 100,000) exceeds the global rate (233 deaths per 100,000)), diabetes, and cancer necessitate long-term patient care, often require hospital stays. This not only increases the demand for hospital beds but also highlights the importance of having adequate and well-equipped healthcare facilities.

Additionally, India's aging population is another significant factor contributing to market growth. As the elderly population increases, so does the need for healthcare services, including hospital stays. According to the UN Population Fund, the number of elderly people in India is expected to reach 173 million by 2026, illustrating the potential for increased demand for hospital beds. Providing comfortable and specialized care for the elderly becomes crucial in this context.

Likewise, the emergence of smart beds and beds with advanced features such as electric adjustability, side rails, and in-built pressure relief mattresses is another trend shaping the future of India's hospital beds market. These advancements not only enhance patient comfort but also improve the overall quality of care. Healthcare providers are increasingly investing in these advanced beds to ensure better patient outcomes and satisfaction.

Key Market Drivers

Rise in Healthcare Expenditure

The government's increasing focus on improving the healthcare infrastructure has led to a surge in healthcare budgets. According to the National Health Accounts estimates for 2019-20, notable advancements in the health sector include a rise in total health expenditure from Rs 4,83,259 crore in 2014-15 to Rs 6,55,822 crore in 2019-20. Furthermore, government health expenditure as a percentage of GDP has increased from 1.13% in 2014-15 to 1.35% in 2019-20, demonstrating the government's dedication to augmenting investments in the health sector. This increase in funding has enabled hospitals to invest in more advanced and comfortable hospital beds, thereby driving the market growth.

Currently, there is a considerable gap between the number of hospital beds available in the country and the number required. India needs an additional 2.4 million hospital beds to reach the recommended ratio. The rising healthcare expenditure is expected to help bridge this gap, contributing to the growth of the hospital beds market.

Moreover, the demand for hospital beds is not only driven by the need to meet the current ratio but also by the increasing complexity of medical procedures and the growing elderly population. With advancements in medical technology and an aging population, there is a greater need for specialized hospital beds that cater to specific medical conditions and provide enhanced comfort and care.

The medical furniture market, which includes hospital beds, is a growing segment of India's healthcare industry. The rise in healthcare expenditure has resulted in increased investment in medical furniture, leading to market growth. Hospitals and healthcare facilities are now prioritizing the procurement of high-quality, durable, and technologically advanced hospital beds to meet the evolving needs of patients and healthcare providers.

Development in Healthcare Infrastructure

In recent years, India has made significant strides in expanding its healthcare infrastructure. The government has launched initiatives like the Pradhan Mantri Swasthya Suraksha Yojana (PMSSY), a comprehensive healthcare program aimed at correcting regional imbalances in the availability of reliable and affordable tertiary healthcare services. This initiative has been instrumental in not only establishing new hospitals but also upgrading existing ones, ensuring that the healthcare needs of the population are met.

Likewise, private sector investment in healthcare infrastructure has been robust, with private hospitals emerging as key players in the industry. These hospitals are not only increasing in number but also becoming more advanced, equipped with state-of-the-art facilities and cutting-edge medical technologies. This advancement in private healthcare facilities has created a demand for high-quality beds, contributing to the growth of the hospital beds market. In 15 states of India, private infrastructure comprises 69-70% of the total health infrastructure. In other states where government infrastructure equals or exceeds private infrastructure, private facilities constitute around 35-36% of the health infrastructure. Uttar Pradesh, Karnataka, and Maharashtra stand out as the top three states with the largest disparity between private and public health infrastructure. These states collectively account for 31% of India’s population. Uttar Pradesh and Maharashtra have private infrastructure exceeding public infrastructure by approximately 128,000 beds, 6,400 ICUs, and 3,200 ventilators. In Karnataka, private infrastructure exceeds public infrastructure by 122,667 beds, 6,133 ICUs, and 3,067 ventilators.

Moreover, the rapid urbanization in India has led to the growth of cities and towns, resulting in an increased population density in urban areas. In 2022, India's urban population reached 508,368,361, marking a 2.05% growth compared to 2021. This urban growth has necessitated the development of adequate healthcare infrastructure to cater to the healthcare needs of the expanding population. As a consequence, there is a growing demand for hospital beds in urban areas, further driving the growth of the hospital beds market.

The combination of government initiatives, private sector investments, and urbanization trends has created a favorable environment for the expansion of India's healthcare infrastructure and the growth of the hospital beds market. For example, in October 2023, the Odisha government entered agreements with private healthcare providers to establish five affordable multispecialty hospitals across the state. These hospitals, ranging from 100 to 200 beds each, will be developed through public-private partnerships in Angul, Barbil, Bhadrak, and Jharsuguda. This pioneering initiative, the first of its kind in any state, seeks to promote private sector investments in the healthcare industry. This presents a significant opportunity for the healthcare industry to meet the increasing demand for quality healthcare services and contribute to the overall well-being of the population.

Key Market Challenges

High Maintenance and Operating Costs

Hospital beds are a significant investment for any healthcare facility. They are not just about providing a place for the patient to rest; they are also crucial for patient care and recovery. Modern hospital beds come equipped with advanced features such as electric adjustability, side rails, and built-in pressure relief mattresses. These features not only enhance patient comfort but also contribute to the overall well-being and safety of the patients during their stay.

Moreover, the initial purchase cost is just one part of the equation. Hospital beds require regular maintenance to ensure they function properly and remain in optimal condition. This includes routine inspections, repairs, and timely replacement of parts. By investing in proper maintenance, healthcare facilities can prolong the lifespan of the beds and minimize the risk of malfunctions or breakdowns, ultimately leading to better patient outcomes

Additionally, operating these beds requires trained staff who can operate and manage the various features and functionalities effectively. This adds to the overall operational costs of healthcare facilities. However, it is essential to have well-trained staff to ensure the proper utilization and benefit of these advanced hospital beds.

It is worth noting that healthcare facilities, especially public hospitals, often operate under tight budget constraints. The high cost of purchasing, maintaining, and operating hospital beds can be a significant financial burden. This challenge is particularly acute in India, where healthcare spending per capita is relatively low compared to other countries. Finding innovative solutions and exploring cost-effective alternatives while maintaining the quality of patient care becomes crucial in such situations.

Key Market Trends

Increasing Focus on Patient Comfort and Safety

The concept of patient-centric care, which places the patient's needs and comfort at the center of healthcare delivery, is gaining immense popularity in India. This approach recognizes the importance of tailoring healthcare services to individual patients, ensuring their well-being and satisfaction.

As part of this patient-centric approach, hospitals in India are increasingly focusing on enhancing the quality and features of the beds provided to patients. Recognizing that a comfortable and safe bed is crucial for patient recovery and overall experience, hospitals are investing in technologically advanced hospital beds.

These advanced hospital beds are designed to prioritize patient comfort and safety. They come equipped with a range of features, including adjustable heights, tilting capabilities, and built-in pressure relief mattresses. Some even incorporate smart technology, enabling healthcare providers to remotely monitor patients' vital signs and ensure timely intervention.

This trend towards patient-centric care and advanced hospital beds is not only driven by the healthcare sector but also supported by both the government and the private sector. The government's initiatives to improve healthcare infrastructure and services have resulted in increased investment in state-of-the-art hospital beds. Simultaneously, private hospitals, in their commitment to delivering superior patient care, are actively investing in high-quality beds that promote a healing and comfortable environment.

Segmental Insights

Product Type Insights

Based on the category of product type, the general beds segment emerged as the dominant player in the Indian market for hospital beds in 2024. General beds, also known as standard or manual beds, are typically more affordable compared to specialized beds such as ICU beds, birthing beds, and respiratory beds. This cost advantage makes general beds a practical choice for a larger number of hospitals, particularly those operating under tight budget constraints.

With their versatility, general beds can accommodate a wide range of patients, offering a flexible solution that caters to diverse needs. This adaptability further enhances their appeal to hospitals seeking a cost-effective and efficient option. It is worth noting that smaller hospitals, particularly those with up to 100 beds, dominate the market in India, especially in rural and suburban areas. These hospitals often opt for general beds due to their affordability and versatility, ensuring that they can provide quality care to their patients while managing their resources effectively.

Regional Insights

North India emerged as the dominant region in the India Hospital Beds Market in 2024, holding the largest market share in terms of both value and volume. North India, a region known for its vibrant culture and diverse landscapes, is home to some of the most populous states in the country, including Uttar Pradesh, Bihar, and Rajasthan. With a significant population density, the demand for healthcare services is naturally higher in this region. The need for hospital beds is particularly prominent, as the growing population seeks access to quality healthcare.

Fortunately, North India boasts a robust healthcare infrastructure with a substantial number of both public and private hospitals. This ensures that residents have access to a wide range of medical facilities and services. Among these, the Delhi National Capital Region (NCR) stands out, offering exceptional opportunities for revenue generation per bed. This is primarily due to the significant supply-demand mismatch in the country, making Delhi NCR a highly sought-after destination for healthcare services.

Key Market Players

Arjohuntleigh Healthcare India Private Ltd.
Stryker India Pvt. Ltd.
Midmark India Pvt. Ltd.
Paramount Bed India Pvt. Ltd.
Godrej Interio
Hill Rom India Private Ltd. (Baxter International Inc)
Gita Mediquip Pvt. Ltd.
Surgical Mall Of India Private Limited
Gentek Medical
GPC Medical Ltd.

Report Scope:

In this report, the India Hospital Beds Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

India Hospital Beds Market, By Product Type:

General Beds
Pediatric Beds
Birthing Beds
Respiratory Beds
ICU Beds
Bariatric Beds
Others

India Hospital Beds Market, By Technology:

Electrical
Semi-Electric
Mechanical
Others

India Hospital Beds Market, By Application:

Intensive Care
Non-Intensive Care

India Hospital Beds Market, By Treatment:

Acute Care
Long-term Care
Critical Care
Others

India Hospital Beds Market, By Sector:

Private
Public