U.S. HOSPITAL BEDS MARKET ANALYSIS

U.S. Hospital Beds MarketSize and Trends

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)

The increasing hospitalization of patients is expected to drive the U.S hospital beds market growth over the forecast period.

For instance, according to the American Hospital Association, total admissions in all U.S hospitals were 36,241,815 in 2019.

Increasing geriatric population is expected to drive the market growth over the forecast period.

For instance, in the U.S, according to U.S Census Bureau, the total population aged 65 and older was 54.1 million in 2019 and they represented 16% of the population, more than one in every seven Americans.

Increasing product launches and approvals are expected to drive the market growth over the forecast period.

For instance, in October 2020, Stryker, one of the world’s leading medical technology companies, had launched the industry’s first and only completely wireless hospital bed, ProCuity. This intelligent bed was designed to help reduce in-hospital patient falls, improve nurse workflow efficiencies and safety, and lower hospital cost.

Figure 2. U.S Hospital Beds Market Value (US$ Mn) & Y-o-Y Growth (%), 2017-2030

U.S Hospital Beds Market – Impact of Coronavirus (COVID-19) Pandemic

Coronavirus (COVID-19) outbreak was first reported on December 31, 2019, in Wuhan, China. The World Health Organization (WHO) declared COVID-19 a pandemic on March 11, 2020. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the WHO, over 63,397,935 cases due to coronavirus disease (COVID-19) were reported till January 12, 2022, in the United States.

Due to the COVID-19, the number of patients getting admitted to hospitals rose drastically, which has subsequently increased the demand for hospital beds. Furthermore, the increasing prevalence of various medical ailments such as cancer and cardiovascular diseases (CVDs) is driving the demand for hospital beds.

For instance, according to the Centers for Disease Control and Prevention (CDC), the 7-day daily average of hospitalization for January 5, 2022 to January 11, 2022 was 20,637, indicating a 24% increase from the prior 7-day average (16,571) from December 29, 2021 to January 4, 2022.

Market- Trends

Increasing hospitalization of patients is expected to drive the U.S hospital beds market growth over the forecast period.

For instance, according to the American Hospital Association, total admissions in all U.S hospitals were 36,241,815 in 2019.

Increasing geriatric population is expected to drive the market growth over the forecast period.

For instance, in the U.S, according to U.S Census Bureau, the total population aged 65 and older was 54.1 million in 2019 and they represented 16% of the population, more than one in every seven Americans.