The U.S. hospital beds market is primarily driven by the rising geriatric population, increasing prevalence of chronic diseases, and growing need for advanced medical infrastructure in the country. Hospital beds are an integral part of patient care in hospitals as they help support patients and facilitate examination and treatment. There are various types of hospital beds including electric, semi-electric, and manual beds available in the market which offer improved safety, comfort, and assistance in patient mobilization. Owing to the advantages offered by specialized hospital beds, the demand from healthcare facilities is growing for providing better patient care services.
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 are Kerry Group Plc, BRF S.A., Verde Farms LLC, JBS S.A., Marfrig Global Foods S.A., Cargill Inc., Tyson Foods Inc., Pilgrim's Pride Corporation, V H Group., Arcadian Organic and Natural Meat Co., Verde Farms, Xiamen Yinxiang Group Co. Ltd, Allana, AL-Shah Enterprises, Al Aali Exports Pvt. Ltd., and International Agro Foods. These players are focusing on new product launches and strategic collaborations to expand their market share.
The key opportunities U.S. Hospital Beds Market Demand include rise in demand for sophisticated beds such as bariatric and electric beds from large healthcare facilities and emergence of telehealth & remote patient monitoring. This is prompting players to develop beds integrated with advanced technologies to improve care delivery.
Furthermore, major players are eyeing opportunities in international markets through partnerships with local players. They are strengthening their production capacities and distribution networks across Latin American and Asian countries to tap into the high growth potential.
Market Drivers
The primary driver for the U.S. hospital beds market is the rapid growth of the geriatric population who are more prone to developing chronic diseases. As per estimates, the 65+ demographic in the country is expected to double from 52 million to over 95 million between 2015 and 2060. This will augment the demand for long-term and post-acute care services involving hospital beds.
Market Restraints
One of the key challenges in the U.S. hospital beds market is the pricing pressure faced by players due to reimbursement cuts. There is growing scrutiny over healthcare costs which has resulted in declining reimbursement rates for hospitals. This adversely impacts the replacement demands and upgradation to premium beds.
Segment Analysis
The U.S. hospital beds market is dominated by the electric beds segment. Electric beds are preferred over manual beds as they offer enhanced comfort level and convenience to both patients and caretakers. Features like adjustable positions, remote control, and integrated scales have made electric beds a necessity in modern hospitals. Moreover, the easy maneuverability of electric beds facilitates movement of patients and improves workflow efficiency in hospitals. The growing demand for quality healthcare and increasing number of elderly patients suffering from limited physical ability further drives the demand for advanced electric beds.
Global Analysis
The Western region dominates the U.S. hospital beds market with highest market share currently. The availability of advanced healthcare infrastructure and focus on quality patient care are the major factors responsible for Western region's prominence. Moreover, the presence of many leading hospital bed manufacturers in states like California contributes to the Western region's dominance.
However, the U.S. Hospital Beds Market Regional Analysis is expected to rise rapidly in the Southern region during the forecast period. This can be attributed to growing geriatric population, improving medical reimbursement scenario, and ongoing hospital infrastructure expansion projects in states like Florida, Texas, and Arizona. With rising healthcare investments and emergence of many hospitals & clinics, the Southern region is poised to be the fastest growing market for hospital beds by 2031.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
