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.
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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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