At 5.2% CAGR, the North America Hospital Bed Market is projected to be worth US$ 1,466.55 million by 2028, says Business Market Insights

According to Business Market Insights’ research, the North America hospital bed market was valued at US$ 1,083.38 million in 2022 and is expected to reach US$ 1,466.55 million by 2028, registering an annual growth rate of 5.2% from 2022 to 2028. Rising prevalence of chronic diseases and growing preference for highly equipped hospital bed with innovative features.               

According to the National Health Council report, ~40 million Americans face constraints in their routine activities as they suffer from one or more chronic health conditions. Incurable chronic diseases affect ~133 million Americans, representing more than 40% of the total population as per the published report in 2019. Many people are living with one or more chronic illnesses, such as diabetes, heart disease, or depression, but with two or more conditions. Such a high prevalence of chronic diseases may result in a greater requirement for hospitalization, which drives the demand for hospital bed. According to the estimates presented in a report by the Department of Health & Children, ~80% of the general practitioners’ (GP) consultations and 60% of hospital bed requirements are related to chronic disease cases with associated complications. Patients are accommodated on this bed for managing labor (obstetrics), curing nonmental illness or providing definitive treatments to injuries, performing surgeries, and relieving symptoms of nonmental illnesses, among others. ~75% of the healthcare expenditure is allocated to managing chronic diseases every year in the US. This is expected to drive the market during the forecast period.

On the contrary, bedsores or pressure sores associated with hospital bed hurdles the growth of North America hospital bed market. 

• Based on type, the North America hospital bed market is categorized into semi-electric bed, electric bed, and manual bed. The semi-electric bed segment held 46.0% market share in 2022, amassing US$ 498.87 million. It is projected to garner US$ 669.56 million by 2028 to expand at 5.0% CAGR during 2022–2028.    
• Based on usage, the North America hospital bed market is categorized into acute care bed, long-term care bed, psychiatric care bed, and others. The acute care bed segment held 45.7% market share in 2022, amassing US$ 495.59 million. It is projected to garner US$ 667.57 million by 2028 to expand at 5.1% CAGR during 2022–2028.
• Based on application, the North America hospital bed market is bifurcated into non-intensive care bed and intensive care bed. The non-intensive care bed segment held 51.2% market share in 2022, amassing US$ 555.05 million. It is projected to garner US$ 776.14 million by 2028 to expand at 5.7% CAGR during 2022–2028
• Based on end user, the North America hospital bed market is categorized into hospitals & clinics, elderly care facilities, ambulatory surgical centers, and home care settings. The hospitals & clinics segment held 35.2% market share in 2022, amassing US$ 381.66 million. It is projected to garner US$ 546.61 million by 2028 to expand at 6.2% CAGR during 2022–2028.
• Based on country, the North America hospital bed market has been categorized into the US, Canada, and Mexico.  Our regional analysis states that US captured 84.9% market share in 2022. It was assessed at US$ 919.47 million in 2022 and is likely to hit US$ 1,259.43 million by 2028, exhibiting a CAGR of 5.4% during the forecast period.      

Key players dominating the North America hospital bed market are Hill Rom Holding inc. (Baxter); Stryker Corporation; Arjo Medical Devices; Invacare Corporation; Paramount Bed Holdings Co., Ltd.; GF Health Products Inc.; Malvestio Spa; Span America (Savaria Corporation); Savion Industries; and STIEGELMEYER GMBH & CO.KG among others.

• In Dec 2018, Hill Rom launches Centrella Smart plus Bed.
• In April 2022, Stryker named one of Fortune’s 100 Best Companies to Work for 12th consecutive year.

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