The demand for beds is on the rise especially with the current aging population. The demographics today will drive the demand for beds, particularly hospital beds as more and more people will require industry products to cater to their medical needs. Additionally, manufacturers will also introduce new products incorporating the latest technologies like those equipped with vital signs monitor and integrated scales in order to stimulate demand. With this trend, it is expected that the industry of the hospital bed manufacturing will continuously improve. The revenue is expected to grow in line with new innovations in the market as well as with the consistent and increasing demand.
A new chapter in business
The industry of hospital bed manufacturing has only moderate barriers to entry. There are some regulations in place which posed as a serious barrier to the new industry entrants. Take for example the medical device excise tax. This certain tax rule will apply a 2.3 percent tax to some of the common medical devices which are manufactured after December 31, 2012. This has added a burden as well as a competition in the industry. Additionally, the new manufacturers of bed hospitals face a significant competition from the incumbent and innovative manufacturers. These manufacturers who have been in the industry for several decades have already established a strong relationships with hospitals and other health care providers who assist them in improving their products and serve as a constant stream of revenue for their respective businesses. These incumbent manufacturers of hospital beds also have favorable and secure contracts with GPOs or the group purchasing organizations. These and many more factors make them a formidable force in the industry that cannot be easily thwarted.
On a global scale, there is a wide demand for hospital beds and even beds used in homes, whether it be king single bed or just mere single beds. As the population in the world continuously increase, so as their needs and wants and one of the fundamental needs of human beings is to have a relaxing place to sleep and relax after a day of hard work.