The U.S. hospital beds market comprises beds that are used by hospitals and healthcare facilities for patient care and treatment purposes. Hospital beds come equipped with rails, adjustable positions, integrated medical monitoring systems, and other accessories. They provide safety, comfort, and convenience to patients undergoing treatment or recovering from illnesses & injuries. The growing prevalence of chronic diseases and rising number of surgical procedures being performed are increasing the demand for hospital beds from healthcare facilities in the country.
The U.S hospital beds market is estimated to be valued at US$ 1,145.4 million in 2022 and expected to exhibit a CAGR of 5.8 % over the forecast period (2022-2030).
Key Takeaways
Key players operating in the U.S. Hospital Beds market are Hill-Rom Holdings, Inc., Getinge AB, Invacare Corporation, Stryker Corporation, Paramount Bed Co. Ltd., Medline Industries, Inc., and LINET Group SE. Major players are focusing on new product launches and mergers & acquisitions to gain a competitive edge in the market.
The rapidly growing geriatric population suffering from chronic diseases and mobility issues presents a significant growth opportunity for players in the U.S. Hospital Beds Market Demand . According to the U.S. Census Bureau, the population aged 65 years and above is projected to increase dramatically, reaching 98 million by 2060, up from 56 million in 2018. This demographic shift is expected to significantly drive the demand for hospital beds, especially those designed to accommodate the specific needs of older adults, including comfort, mobility support, and specialized care features tailored to chronic conditions.
Globally, the U.S. dominates the hospital beds market owing to the high healthcare spending and well-established healthcare infrastructure. However, other countries are also witnessing increased healthcare investments that can support international expansion of major U.S. players in the coming years.
Market Drivers
The rising geriatric population is the primary driver for the U.S. hospital beds market. As per estimates, the 65+ age group population will rise to around 24% of the total U.S. population by 2060 from 15% in 2019. This is increasing the incidence of age-related chronic diseases requiring long-term hospital care. Moreover, growing prevalence of lifestyle diseases such as diabetes and cardiovascular disorders is also propelling the demand for hospital beds from in-patient facilities.
PEST Analysis
Political: The hospital bed market is regulated by government policies regarding healthcare infrastructure, medical device standards, and hospital funding. Changes to regulations could impact sales.
Economic: Economic growth determines healthcare spending. A stronger economy increases hospital funding and drives demand for new beds. Recessions may result in budget cuts that delay bed purchases.
Social: An aging population and growing lifestyle disease prevalence create greater need for hospitalization and long-term care. This increases bed requirements at hospitals and nursing homes.
Technological: New bed designs with advanced features like adjustable positions and integrated monitoring devices are gaining popularity. Remote patient monitoring also allows post-hospital care without occupying a bed.
In terms of value, the Western region of the United States accounts for the largest share of the hospital bed market. States like California, Texas and Florida have large populations and healthcare budgets, resulting in greater bed capacity. Many major hospitals and healthcare facilities are also located here which support bed installation and replacement.
The Southern region is projected to be the fastest growing market for hospital beds in the U.S. States like South Carolina and Georgia are experiencing rising hospital admission rates from an increasing elderly population as well as tourism-related medical cases. Construction of new hospitals and expansion of existing facilities in these high growth areas will drive additional bed procurement.
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