Setup a Private Hospital. Investment Opportunities in Healthcare Sector. Setting Up a Hospital in India
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 in home health care. While the term hospital bed can refer to the actual bed the term bed is also used to describe the amount of space in a health care facility as the capacity for the number of patients at the facility is measured in available beds.
A hospital as a health care organization has been defined in varied terms as an institution involved in preventive, curative/ameliorative, palliative or rehabilitative services. However an integral part of the medical and social organization which is to provide for the population complete health care, both curative and preventive and whose outpatient services reach out into the family in its home environment. A hospital is meant to treat patients suffering from various ailments. Doctors with their dedicated spirit serve the nation at large by providing medication and treatment for eradication of diseases, which exchange health and add suffering to humanity.
Indian healthcare delivery system is categorized into two major components public and private. The Government public healthcare system comprises limited secondary and tertiary care institutions in key cities and focuses on providing basic healthcare facilities in the form of Primary Healthcare Centre’s (PHCs) in rural areas. The private sector provides majority of secondary tertiary and quaternary care institutions.
Market Outlook
The limited access to medical facilities in developing and underdeveloped nations has unleashed myriad opportunities for the hospital beds market. The governments are endeavoring to provide access to standard medical facilities in rural areas, which is expected to motivate the growth trajectory of the hospital beds market. Furthermore, the initiatives undertaken by international organizations such as the World Health Organization (WHO) is poised to expedite the expansion of the market.
A major fraction of the global population is affected by chronic diseases such as diabetes, cardiovascular disorders, etc. The count of patients is expected to skyrocket in the forthcoming years owing to an exponential aging population. The global population for older adults is estimated to get doubled between 2015 and 2050. It is presumed to motivate the growth of the global hospital beds market.
Fast-developing and developed countries have emerged as the hotspots for healthcare facilities. The burgeoning medical tourism industry has encouraged the healthcare providers to expand their bases in these countries owing to the high demand for treatments. This, in turn, has catapulted the hospital beds market on an upward trajectory.
The tech-driven changes in the hospital beds have led to rapid developments in the market. The accelerated adoption of smart hospital beds is likely to have a favorable impact on the market. Nevertheless, the expensiveness of advanced hospitals beds such as electric and semi-electric beds is anticipated to restrict the expansion of the market.
Global Hospital Beds Market is expected to expand at a CAGR of 5.5% during the 2017 to 2023. Its valuation is likely to reach USD 4,824.2 MN by the end of 2023 from USD 2,515.1 MN in 2016. The growth of the healthcare sector is prognosticated to reflect on the expansion of the global market over the next couple of years.
Geographically, Europe held the largest share in the hospital bed industry with 33.4% contribution in 2017. The market growth in the region can mainly be attributed to the growing number of hospitals, increasing prevalence of chronic diseases, and rising aging population. In addition, the increasing incidence of hospitalization, technological advancement in hospital beds, and growing healthcare expenditure are also driving the market growth in the region.
On the basis of treatment, the market has been categorized into acute care, critical care, and long-term care beds. Of these, acute care is expected to continue holding the largest share in the hospital bed market during the forecast period, attributed to their increasing demand in accident and emergency wards. The various type of beds available in the market include, general, pediatric, birthing, and bariatric, pressure relief, and others.
Hospital beds or medical beds are medical equipment intended and well equipped for bedridden patients or patients who require care, to provide relief and assistance to the patient. It allows better positioning of patients, ease of transfer, improved blood circulation, and safety of patients at risk of falling out of the bed. The global hospital bed market is growing at a significant rate, due to escalating funds in healthcare infrastructural development, and mounting occurrence of chronic diseases.
The Indian healthcare industry size was USD 100 b in 2015 while the healthcare sector is expected to expand from USD 160 b in 2017 to USD 280 b by 2020, India lags behind on healthcare outcomes when compared to similar nations.
Key Players
- Indraprastha Apollo Hospital, Delhi
- Lilavati Hospital and Research Center, Mumbai
- Fortis Hospital, Shalimar Bagh location, Delhi
- Jaslok Hospital & Research Centre, Mumbai
- BLK Super Speciality Hospital, Delhi
- Fortis Hospital, Bannerghata Road, Bangalore
- Manipal Hospital, Bangalore
- AIIMS (All India Institute of Medical Sciences), New Delhi
- Saifee Hospital, Mumbai
- Sir Ganga Ram Hospital, Delhi
- Kamineni Hospital, Hyderabad
- Kokilaben Dhirubhai Ambani Hospital and Medical Research Center, Mumbai
- Apollo Hospital, Bannerghata Road, Bangalore
- Fortis Hospital, Anandapur, Kolkata
- Fortis Malar Hospital, Chennai
- Bombay Hospital and Medical Research Center, Mumbai
- Billroth Hospital, Chennai
- D Hinduja Hospital, Mumbai
- Columbia Asia Referral Hospital, Bangalore
- Apollo Hospital, Jubilee Hills, Hyderabad, Telangana
- Sri Ramchandra Medical Center, Chennai
- Dr L H Hiranandani Hospital, Mumbai
- Apollo Gleneagles Hospital, Kolkata
- Aditya Birla Memorial Hospital, Pune
- John’s Medical College Hospital, Bangalore
- Ruby Hall Clinic, Pune
- Care Hospital, Hyderabad
- Columbia Asia Hospital
- RVM Foundation Humanitarian Hospital, Bangalore
- Noble Hospital, Pune
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