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North America Hospital Bed Market Overview
The hospital bed market size in North America was $1.5 billion in 2015 and is forecasted to grow at a CAGR of 4.9% during 2016-2022. Among the various types of beds available in the market such as birthing, bariatric, pediatric, pressure relief and other hospital bed, general beds contributed the maximum revenue, standing at $584.6 million in 2015, to the hospital bed industry in the region. Patients are also allocated beds in the hospital depending upon their class of treatment such as acute care, critical care or long term.
The size of hospital bed market in North America has been increasing due to rising prevalence of chronic diseases and growing geriatric population. Adding to this, the increasing incidence of hospitalization, technological advancements in hospital beds and growing healthcare expenditure are also driving the market demand. On the basis of power, the beds are bifurcated into manual, semi-electric and electric beds. Among these, the manual beds are likely to witness the fastest growth, and are expected to generate a revenue of $996.8 million by 2022.
Factors such as high cost of hospital beds and injuries due to hospital beds have been creating a negative impact on the growth of the hospital bed market in the region.
North America Hospital Bed Market – Competitive Landscape
Due to growing market for hospital beds the companies in the region are investing in developing new and innovative beds for better patient care. For instance, in May 2017, LINET Americas launched their new birthing bed, AVE 2, which is intended to provide comfort and efficiency during every stage of child birth. The bed provides various features such as a unique telescopic column construction of the bed making it adjustable for any situation, an independent pelvic tilting function that gives the obstetrician/midwife the perfect vantage points throughout the birthing process and one of the most important feature is the one-touch, foot section swivel mechanism that allows for easy and immediate access to the expected newborn.
Following this, hospitals in Florida implemented first of its kind bed in North America namely, Babyleo TN500 IncuWarmer beds from Dragerwerk, Inc., in September 2017. According to the World Health Organization (WHO), an estimated 15 million babies born preterm annually in the U.S., and such beds are important for babies and their families.
The key players operating in North America hospital bed market are Hill-Rom Holdings Inc., Stryker Corporation, Invacare Corporation, Gendron Inc., Medline Industries Inc., Savaria Corporation, Drive DeVilbiss Healthcare, Drägerwerk AG, LINET Americas, DIA Medical USA, UmanoMedical, Rotec International, and NOA Medical Industries Inc.