Hospital beds are equipment used by hospital chains to accommodate patients during their hospital stay. The beds differ according to quality and technology and assigned according to business models followed by major healthcare chains. The Americas hospital beds market report by Market Research Future studies the various market dynamics for the forecast period (2018–2023). It even considers the impact of the COVID-19 virus and its effects on the production process on the industry.
Hospital Beds Market Scope
The Americas hospital beds market is expected to grow during the forecast period at a CAGR of ~7.6%. It is expected to expand owing to their need by patients. Establishment of medical facilities and centers to cater to the inflow of patients can bode well for the market. Prevalence of chronic diseases, injuries cases, and investments in healthcare are other prime drivers of the market. The large geriatric populace can work in favor of the market as they are susceptible to various diseases. According to the Population Reference Bureau, the number of Americans aged 65 and above is expected to reach an amount of 98 million by 2060.
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Technological innovations in ICU beds can revolutionize the market as patients look at safety and comfort during their hospital stay. The number of patients undergoing surgeries is expected to benefit the market as large healthcare chains look to capitalize on the trend and supply beds accordingly. In addition, the emergence of home care during the COVID-19 pandemic has triggered the requirement for comfortable beds.
Rising costs of specialty beds and low procurement capital of public hospitals can hamper market growth.
Hospital Beds Market Segmentation
The Americas hospital beds market has been segmented by type, automation, treatment, and end-user. The study encompasses opportunities and threats for each of the segment and its impact on the overall market.
By type, the Americas hospital beds market has been classified into general purpose beds, pressure relief beds, birthing beds, bariatric beds and pediatric beds, and others.
By automation, it is segmented into power hospital beds, manual hospital beds, and others. Power hospital beds are further divided into fully electric and semi-electric.
According to treatment, hospital beds are categorized into critical care, long-term care, and acute care.
End-users of the market include elderly care facilities, hospitals and clinics, nursing homes, maternity homes, and others.
Hospital Beds Market Regional Analysis
The Americas is likely to show a prominent growth in the hospital beds market during the forecast period market owing to prevalence of chronic diseases among the elderly, increase in the number of surgeries, the presence of a well-established healthcare system, government initiatives and favorable regulatory policies, medical reimbursement schemes, and adoption of highly advanced technology.
Based on region, the Americas is divided into North America and South America. The North American region consists of the US and Canada. The presence of a well-established economy in North America is expected to contribute to the market growth. South America consists of Argentina, Brazil, Chile, and the rest of South America.
The North American region is likely to dominate the hospital beds market in the Americas due to sophisticated healthcare framework, modernization of infrastructure, and favorable policies. Major drivers include growing presence of hospitals and healthcare centers in the North American region, buyout of distressed small hospitals, increasing adoption of new technologies, and government initiatives for development of healthcare facilities can boost the regional hospital beds market growth. According to the Centers for Medicare and Medicaid Services (CMS), the majority of the population (around 90%) takes benefit of the insurance system and slashes the healthcare burden due to favorable reimbursement policies.
The South American region is also set for a windfall owing to the growing numbers of the middle class in Argentina, Colombia, Venezuela, and Chile. The improved purchasing power of corporations, disposable income levels of patients, and investments in healthcare infrastructure can positively impact the market.
Hospital Beds Market Competitive Outlook
Hospital bed manufacturers in the Americas market are Invacare Corporation, Paramount Bed Holdings Co., Arjo Huntleigh, Medline Industries, Hill-Rom Services, Inc., Span-America Medical Systems, Inc., Joerns Healthcare LLC., Savion Industries Ltd., Gendron, Inc., Stryker Corporation, LINET Group, and Joh. Stiegelmeyer GmbH & Co. KG.
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