According to a new report from Persistence Market Research, the global market for hospital beds is expected to grow at a steady compound annual growth rate of 4.2% between 2014 and 2020, reaching $6,731.8 million by 2020. The largest growth is predicted in Europe and Asia.

Europe currently has the largest global market for hospital beds, due to the rising prevalence of chronic diseases and increased healthcare spending.The report’s authors estimate the European market reached $1,643.2 million in 2014 and could hit $2,010.2 million by 2020. Likewise, Asia’s demand for beds is expected to grow in proportion with its sizeable population, expanding hospital infrastructure, and improved reimbursement rates.

Covering North America, Europe, Asia and the rest of the world, the report includes data related to current market dynamics, including market drivers, restraints, and strategic developments. It also lays out the current market according to usage (general purpose, birthing, pediatric, bariatric, and pressure relief beds), power (electric, semi-electric, and manual) and treatment. Key manufacturers, including Hill-Rom Holdings, Stryker, Paramount Bed Co Ltd, ArjoHuntleigh, Invacare Corp, Medline Industries, and Linet, are also profiled.

Readers can request a sample of the report on the Persistence Market Research website.