Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
U.S. Hospital Beds Market Driven By Increasing Chronic Diseases Needs Longer Hospital Stay
Hospitals beds are used for proper patient care in various settings, such as elderly care facilities, home care settings, ambulatory surgical centers, and hospitals. Hospital beds are comfortable than household beds as they are versatile in terms of inclination and reclined as per the patient condition. Household beds are difficult to clean and maintain hygiene for longer period of time. Moreover, hospital beds can be easily cleaned and are simple to maintain hygiene. Advancement in hospital beds leads to the development of electric bed and semi-electric bed, which is cutting the edge of need of medical assistance and nurses for patient monitoring. These are known as electrical/powered hospital beds. They are suitable for the patient’s requirement of a particular resting position. Hospital beds are comprised for many applications, such as psychiatry beds, pediatric beds, outpatient beds, maternity beds, bariatric beds, terminal patient beds, ambulatory, and intensive care unit beds. Furthermore, maternity beds are specially designed for obstetricians and expectant mothers for their comfort. Electric and semi-electric hospital beds are well equipped with foot rest, locomotion system, and wheel assisted mobility system. Besides, manual beds are helpful in setting where the electric embedded system is not consistent. However, electronic beds are expensive than manual beds, needs constant maintenance.
The U.S. hospital beds market is estimated to be valued at US$ 903.3 Mn in 2017 and is expected to witness a CAGR of 5.9% during the forecast period (2017 – 2025).
Figure 1. Hospital Beds Market Share (%), By Country, 2017
Source: Coherent Market Insights (2017)
Factors such as rising number of road accidents, sports injuries, and associated chronic infections mainly needs a surgery, which will drive growth in the hospital beds market in the U.S. For instance, according to World Health Organization (WHO), 2017, road traffic injuries are the leading cause of death among people aged between 15 and 29 years. High cases of bed-ridden and traumatic brain injury-related emergency patients demands longer hospital stays, in turn raising the demand for the hospitals beds, which is expected to propel the immense growth of the U.S. hospital beds market over the forecast period.
For instance, according to the Centers for Disease Control and Prevention (CDC), in 2013, around 2.8 million traumatic brain injury-related emergency department (ED) hospitalizations, visits, and deaths were estimated in the U.S. Traumatic brain injury estimated around 282,000 hospitalizations and around 2.5 million reported emergency department visits in the U.S. According to the data of CDC, it represents high prevalence of traumatic brain disorders, which requires constant care and longer hospital stays which in turn increase demand for hospital beds. This will fuel the growth of the U.S. hospital beds market over the forecast period.
Initiatives taken by the U.S government and healthcare organizations for proper disease management requiring long stay in hospital is expected to witness the growth of the U.S hospital beds market
In October 2017, U.S. navy’s hospital ship named USNS Comfort, designed a bed to treat people in disaster strike. The USNS comfort ship has 1,000 patient beds, which includes 80 intensive care bed and 12 operating rooms for both civilian and military. Furthermore, to improve healthcare facilities for the maximum patient outcome, Highmark has announced to build 160-bed hospital in Pine Township. Highmark is intended to provide affordable healthcare service in the U.S. Highmark is expected to get regulatory approval in mid-2018 and project completion in 2021. Thus, this portfolio aims to improve healthcare service for better treatment management, which is expected to boost the growth of U.S. hospital beds market growth over the forecast period.