|Status : Published||Published On : Feb, 2019||Report Code : VRHC1191||Industry : Healthcare||Available Format :||Page : 102|
The U.S. hospital bed market is expected to grow at a CAGR of 3.8% during the forecast period with its market size predicted to reach USD 870.4 million by 2024. The U.S. hospital bed market is primarily driven by the technological advancements, adoption of electric beds in ICUs, high prevalence of chronic diseases, and robust healthcare infrastructure in the region. Bariatric beds and general beds are contributing significantly to the U.S. medical bed revenue due to the high prevalence of obesity and increasing lifestyle associated diseases.
The key trend in the U.S. medical bed industry is the development and adoption of fully electric beds. Various studies have shown an adverse impact on the nursing community and patient care takers due to the difficulties faced during the positioning of critically ill patients, resulting in the injury to nurses, doctors and patient itself. Electric beds offer automatic patient position adjustments, pressure relief and improved sleep to the patient; therefore, leading to the high traction in the market.
Insight by Area of Use
On the basis of area if use, the market is categorized into acute care, critical care, and long-term care. Of all, critical care and long-term care medical beds are anticipated to witness the higher growth when compared to the acute care beds. This is primarily due to the increasing geriatric population, and high prevalence of chronic diseases including cancer and cardiovascular disorders.
Insight by Type
Different types of medical beds are general, bariatric, pediatric, pressure relief, birthing, and others. The general beds hold the largest share in the U.S. hospital bed market and is also predicted to the observe the highest growth in its market size, primarily due to the low cost of these beds.
Insight by Power
On the basis of power, the market is categorized into manual, electric, and semi-electric beds. Among the different types of power, the manual beds are estimated to account for the largest share in the hospital bed market in 2018. The demand for electric beds is predicted to be the highest in the country as the U.S. healthcare expenditure is highest among all the countries across the globe, which illustrates high affordability of electric beds in the country.
Insight by End-User
The primary end users of medical beds in the U.S. are hospitals, elderly care facilities, and home care settings. Among all end users, the hospitals are estimated to account for the largest share of the U.S. hospital bed market size in 2018. The demand of medical beds is anticipated to remain the largest in the hospitals as most of the inpatient care is provided by the public and private hospitals.
The fastest growing demand for medical beds is witnessed by the elderly care facilities in the U.S. as the proportion of elderly population has increased significantly over the years. The government encourage and provide incentives to the elderly care facilities for their contribution in the healthcare for geriatric population.
Different factors driving the U.S. hospital bed market are technological advancements, adoption of electric beds in ICUs, high prevalence of chronic diseases, and robust healthcare infrastructure in the region. The U.S. spends a significant portion of its GDP over healthcare which leads to the developed infrastructure in the country. For instance, as per the U.S. National Health Expenditure Accounts (NHEA), U.S. health care expenditure increased 3.9 percent in 2017, reaching USD 3.5 trillion or USD 10,739 per person, amounting 17.9% of the country’s GDP. Also, the increasing technological advancements and development of portable patient monitoring devices have led an increase in the demand for medical beds for providing home care.
The high healthcare cost, affordability of electric beds are the major challenges faced by the U.S. hospital bed industry. The high cost in research and development leads to the high cost of electric beds thus decreasing its affordability to some extent.
Some of the key players operating in the U.S. medical bed industry are Stryker Corporation, Getinge Group, Medline Industries, Inc., Invacare Corporation, Paramount Bed Holdings Co., Ltd., Hill-Rom Holdings, Inc., Merivaara Corp., Amico Corporation, Midmark Corporation, Linet Spol. S.R.O and Antano Group S.R.L.
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