Growing Investment in Healthcare to Push the Americas Hospital Beds Market
Hospital beds are beds that are particularly designed for patients to provide them with comfort and security during the period of treatment. The hospital beds are made in accordance to the need and convenience of the patients as well as the medical staff. The beds are adjustable and offer some basic yet significant features like adjustable sides, electric supply to both sides, height adjustment, and adjustable railings. According to the recently released report by the team of Market Research Future (MRFR), the American hospital beds market is expected to experience decent growth during the forecast period. The calculated compound annual growth rate is projected to be 7.6% between 2018 and 2023.
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The growth of the market is identified to be centered around various key factors. The rising occurrences of trauma and accidental injuries, growing prevalence of chronic diseases, and rising investments in healthcare are projected to be some of the key factors influencing a positive growth herein. Furthermore, the rising volume of healthcare expenditure and the growing geriatric population significantly contribute to the market growth of American hospital beds. However, on the flip side, the rising cost associated with specialty beds and a deteriorating number of beds in public hospitals are all expected to hamper the growth of the market during the forecast period.
Competitive Landscape
The Americas Hospital Beds Market comprises of various leading players including Hill-Rom Services, Inc., Paramount Bed Holdings Co., Savion Industries Ltd., Joerns Healthcare LLC., LINET Group, Arjo Huntleigh (Division of Getinge AB), Invacare Corporation, Stryker Corporation, Medline Industries, Joh. Stiegelmeyer GmbH & Co. KG, Span-America Medical Systems, Inc., and Gendron, Inc.
March 22nd, 2019, Linak announced the launch of a new touch screen control for advanced forms of hospital beds. The new touch screen based hospital beds comprise a large screen for the ACT controller to provide the users with a view of all functions through an easy and effective format.
Market Segmentation
The Americas hospital beds market segmentation is done on the basis of automation, type, treatment, and end-user.
By type, the market comprises of general purpose beds, pressure relief beds, bariatric beds and pediatric beds, birthing beds, and others.
By automation, the market segments into power hospital beds, manual hospital beds, and others. Power hospital bed segment further divides into semi-electric and fully electric categories.
By treatment, the market includes acute care, long-term care, and critical care.
By end-user, the market includes nursing homes, hospitals and clinics, maternity homes, elderly care facilities, and others.
Regional Analysis
The Americas hospital beds market is geographically segmented into the following key regions: North America and South America. The North American region divides down into the US, Canada, and the Rest of North America. Whereas, the South America region divides down into Chile, Brazil, Argentina, and the Rest of South America.
The entire Americas region is expected to show prominent growth over the forecast period due to number of factors. The increasing number of surgical procedures, the growing prevalence of chronic diseases in the aging population, favorable government initiatives and regulatory policies, presence of a well-developed healthcare system, and the adoption of a highly advanced forms of technology.
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Among the two divided sections of the Americas, the North American segment is expected to dominate the hospital beds market owing to a well-developed healthcare industry and favorable government policies. In the North American region, factors like the increasing adoption of new and advancing technologies in the healthcare sector, growing presence of hospitals and healthcare centers, and supportive government initiatives to aid in the development of the healthcare facilities are all key factors driving the growth in this region. According to the Centers for Medicare and Medicaid Services (CMS), on average, a person in the US spends approximately USD 11,500 per year for healthcare purposes. The total spending of the Americas region in the healthcare sector accounts for USD 3.9 trillion.
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