Hospital Bed Manufacturing in the US - Market Research Report (2013-2028)
New York, United States
Last Updated: September 2023
NAICS OD4104Revenue
$2.8bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
4,325
Businesses
30
Wages
$XXX.Xm
Hospital Bed Manufacturing in the US industry analysis
Hospital bed manufacturing is currently experiencing a favorable performance in the market. With the increasing demand for healthcare services and the need for high-quality medical equipment, the industry is witnessing steady growth. Factors such as population growth, aging demographics, advancements in medical technology and the expansion of healthcare infrastructure contribute to the industry's positive outlook. Hospital bed manufacturers are capitalizing on these opportunities by offering innovative and technologically advanced products that enhance patient care and improve healthcare facility efficiency. The industry's focus on patient safety, environmental sustainability and regulatory compliance further strengthens its position in the market. Industry revenue is expected to increase at a CAGR of 4.4% to $2.8 billion in 2023, when revenue will expand an estimated 2.6%.In terms of profitability, the hospital bed manufacturing industry is performing well. The growing demand for hospital beds and related medical equipment has resulted in increased revenue for manufacturers. As hospitals and healthcare facilities strive to provide optimal patient care, they're willing to invest in high-quality and durable hospital beds that meet safety standards and offer advanced features. This has led to a favorable pricing environment for manufacturers, allowing them to generate a healthy profit margin. Additionally, manufacturers' efforts to enhance operational efficiency, streamline production processes and control costs contribute to their profitability in the industry. Profit is expected to be 9.7% in the current period.Overall, the hospital bed manufacturing industry demonstrates positive performance and profitability. It meets the increasing demand for hospital beds by offering technologically advanced, safe and durable products. The industry's contribution to the healthcare sector is significant, as it plays a vital role in enhancing patient care, improving workflow efficiency and supporting the overall functionality of healthcare facilities. Through innovation, collaboration and regulatory compliance, hospital bed manufacturers continue to drive the industry forward, meeting the evolving needs of the healthcare industry and contributing to the well-being of patients and healthcare professionals alike. Industry revenue is expected to increase at a CAGR of 1.7% to $3.0 billion over the next five years.
Trends and Insights
- Industry demand is steadily rising due to factors such as population growth, aging demographics, advancements in medical technology and the expansion of healthcare infrastructure. Hospital bed manufacturers are incorporating advanced technologies into their products, such as integrated electronic medical record systems, smart bed features and connectivity options.
- Industry products encompass a wide range of specialized beds and related equipment designed to meet the diverse needs of healthcare facilities. Hospital beds, the primary product in this industry, come in various configurations, including manual, semi-electric and fully electric models.
- The location of establishments in the Southeast and West regions is largely influenced by the size of the population and the age distribution of the population. Women in their childbearing years, young infants and elderly people tend to be heavy health and medical services users.
- The industry exhibits a high level of competition. Typically, operators compete on the basis of price, quality and relationships with downstream markets, namely hospitals, which may assist in product innovation.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has grown at a CAGR of 4.4 % over the past five years, to reach an estimated $2.8bn in 2023.
Trends and Insights
The hospital bed manufacturing industry is a vital component of the healthcare sector
- The industry has been steadily growing in recent years, driven by several factors.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Even more technological improvements are coming
- The industry is poised for enhanced revenue growth in the future, primarily driven by increased hospital bed capacity.
Biggest companies in the Hospital Bed Manufacturing in the US
| Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
|---|---|---|---|---|
Hill-Rom Holdings, Inc. | 928.6 | 123.1 | 13.3 | |
Stryker Corp | 468.3 | 70.6 | 15.1 | |
Invacare Corporation | 55.4 | 5.2 | 9.3 |
To view the market share and analysis for all 3 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Acute care hospital beds, Psychiatric care hospital beds and Other hospital beds. Acute care hospital beds is the largest segment of the Hospital Bed Manufacturing in the US.
Trends and Insights
Acute care hospital beds are used for short-term hospital stays
- According to the Organization for Economic Co-operation and Development (OECD), acute care beds accommodate patients where the clinical intent is regarding obstetrics, treating illness, surgery, relieving symptoms of illness or injury other than palliative care, protecting against complications of an illness or injury and diagnostic or therapeutic procedures. Acute care beds have also been defined as beds accommodating patients for fewer than 18 days.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Medical Instrument & Supply Manufacturing in the US
Complementors
- Mattress Manufacturing in the US
- Emergency & Other Outpatient Care Centers in the US
- Hospitals in the US
International industries
- Household Furniture Manufacturing in Canada
- Metal Furniture Manufacturing in Australia
- Furniture Manufacturing in New Zealand
- Kitchen Furniture Manufacturing in the UK
- Metal Furniture Manufacturing in China
Table of Contents
About this industry
Industry definition
This industry manufactures beds and other specialized furniture for use in hospital or clinical settings.
What's included in this industry?
Manufacturing hospital beds and other specialized hospital furnitureResearching and developing hospital beds and other specialized hospital furnitureMarketing hospital beds and other specialized hospital furnitureCompanies
Hill-Rom Holdings, Inc.Stryker CorpInvacare CorporationPurchase this report to view all 3 major companies in this industry.
Related Terms
MED-SURGSMARTBEDACUTEIndustry Code
NAICS 33911 - Hospital Bed Manufacturing in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Industry demand is steadily rising due to factors such as population growth, aging demographics, advancements in medical technology and the expansion of healthcare infrastruct...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2013-2022) and forecast (2023-2028)
- Employees, including historical (2013-2022) and forecast (2023-2028)
- Businesses, including historical (2013-2022) and forecast (2023-2028)
- Profit, including historical (2013-2023)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Industry products encompass a wide range of specialized beds and related equipment designed to meet the diverse needs of healthcare facilities. Hospital beds, the primary pro...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2023
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
The location of establishments in the Southeast and West regions is largely influenced by the size of the population and the age distribution of the population. Women in thei...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2023
Tables
- Number and share of establishments in each state in 2023
- Number and share of revenue each state accounts for in 2023
- Number and share of wages each state accounts for in 2023
- Number and share of employees in each state in 2023
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
The industry exhibits a high level of competition. Typically, operators compete on the basis of price, quality and relationships with downstream markets, namely hospitals, wh...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2018-2023
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
The industry is primarily dominated by a few major players with significant market share. These established manufacturers benefit from their strong brand reputation, extensiv...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2019 through 2023
- Major companies in the industry, including market share, revenue, profit and profit margin in 2023
- Overview of Hill-Rom Holdings, Inc.'s performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Stryker Corp's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Invacare Corporation's performance by revenue, market share and profit margin from 2017 through 2023
Detailed analysis
- Description and key data for Hill-Rom Holdings, Inc., and factors influencing its performance in the industry
- Description and key data for Stryker Corp, and factors influencing its performance in the industry
- Description and key data for Invacare Corporation, and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
In the United States, the Food & Drug Administration (FDA) regulates medical devices. These regulations seek to standardize product designs, labeling, packaging, manufacturin...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2013-2028)
- Assistance historical data and forecast (2013-2028)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
The cost structure for companies in the industry varies depending on several factors. Items affecting cost structure can differ depending on the level of the company's size a...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Investment vs. share of economy
Data tables
- Industry Multiples (2016-2021)
- Industry Tax Structure (2016-2021)
- Income Statement (2016-2021)
- Balance Sheet (2016-2021)
- Liquidity Ratios (2016-2021)
- Coverage Ratios (2016-2021)
- Leverage Ratios (2016-2021)
- Operating Ratios (2016-2021)
- Cash Flow & Debt Service Ratios (2013-2028)
- Revenue per Employee (2013-2028)
- Revenue per Enterprise (2013-2028)
- Employees per Establishment (2013-2028)
- Employees per Enterprise (2013-2028)
- Average Wage (2013-2028)
- Wages/Revenue (2013-2028)
- Establishments per Enterprise (2013-2028)
- IVA/Revenue (2013-2028)
- Imports/Demand (2013-2028)
- Exports/Revenue (2013-2028)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2013-2028)
- IVA (2013-2028)
- Establishments (2013-2028)
- Enterprises (2013-2028)
- Employment (2013-2028)
- Exports (2013-2028)
- Imports (2013-2028)
- Wages (2013-2028)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Hospital Bed Manufacturing in the US industry in United States in 2024?
The market size of the Hospital Bed Manufacturing in the US industry in United States is $2.8bn in 2024.
How many businesses are there in the Hospital Bed Manufacturing in the US industry in 2023?
There are 30 businesses in the Hospital Bed Manufacturing in the US industry in United States, which has grown at a CAGR of 0.7 % between 2018 and 2023.
Has the Hospital Bed Manufacturing in the US industry in United States grown or declined over the past 5 years?
The market size of the Hospital Bed Manufacturing in the US industry in United States has been growing at a CAGR of 4.4 % between 2018 and 2023.
What is the forecast growth of the Hospital Bed Manufacturing in the US industry in United States over the next 5 years?
Over the next five years, the Hospital Bed Manufacturing in the US industry in United States is expected to grow.
What are the biggest companies in the Hospital Bed Manufacturing in the US market in United States?
The biggest companies operating in the Hospital Bed Manufacturing market in United States are Hill-Rom Holdings, Inc., Stryker Corp and Invacare Corporation
What does the Hospital Bed Manufacturing in the US in United States include?
Manufacturing hospital beds and other specialized hospital furniture and Researching and developing hospital beds and other specialized hospital furniture are part of the Hospital Bed Manufacturing in the US industry.
Which companies have the highest market share in the Hospital Bed Manufacturing in the US in United States?
The company holding the most market share in United States is Hill-Rom Holdings, Inc..
How competitive is the Hospital Bed Manufacturing in the US industry in United States?
The level of competition is high and increasing in the Hospital Bed Manufacturing in the US industry in United States.
