The Asia-Pacific hospital bed market is expected to grow at a CAGR of 7.1% during the forecast period with its market size predicted to reach USD 1,109.4 million by 2024. Developing healthcare infrastructure, increasing healthcare expenditure, increasing geriatric population and increasing prevalence of chronic diseases are the primary growth drivers for the Asia-Pacific hospital bed market.
Older population is more prone to chronic and other diseases, which requires longer hospital stays. Therefore, the increasing aging population coupled with the increasing prevalence of chronic diseases in Asia-Pacific creates a huge demand for medical beds in the region. According to the UNDESA report on aging population, in 2017, 228.9 million people in China and 42.5 million people in Japan were aged 60 years or above and this population is anticipated to increase to 478.6 million and 46.1 million by 2050.
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Different types of hospital beds include general, bariatric, pediatric, pressure relief, birthing, and other medical beds. Among all types, the general beds are estimated to account the largest share in the hospital bed market in 2018 and are expected to grow at the fastest rate during the forecast period owing to its low cost. Large population base and government initiatives to provide the necessary infrastructure in public healthcare facilities of developing countries in Asia such as China, India, Philippines, Vietnam, is leading to the largest share of general beds.
Based on area of use, the Asia-Pacific hospital bed market is categorized into acute care, critical care, and long-term care beds. Among different areas of use, critical care hospital bed market is expected to grow significantly during the forecast period. Critical care beds are equipped with necessary requirements under emergency situations, which provide better care to the patients.
Hospital beds are either manually operated or are powered with electric and semi-electric power. Among the different types of power, the manual beds are estimated to account for the largest share in the hospital bed market in 2018 and are expected to grow at the fastest rate during the forecast period. The low cost of manual beds leads to the larger adoption of these beds in Asia-Pacific, especially in developing countries.
Different end-users of hospital beds include hospitals, elderly care facilities, and home care settings. Hospitals are the largest end-users of medical beds as hospitals are the primary healthcare facility for the treatment of chronic diseases and for the treatment of the majority of the population. Moreover, the aging population in the region has led to the fastest growing demand for medical beds in elderly care facilities.
Japan is the largest hospital bed market in the region owing to the aging population, high prevalence of chronic diseases and high healthcare expenditure. China is the second largest market for the medical beds in the region as the country is developing its healthcare facilities at a rapid pace. Moreover. with the aging population in these two countries, the demand for medical beds is anticipated to increase significantly for elderly care facilities in the coming years.
The Asia-Pacific hospital bed industry witnessed the fastest growth in India and the highest growth in the country is expected to remain during the forecast period. Public and private healthcare infrastructure is growing rapidly with initiatives from government and non-government organizations, which fuels the growth of the medical bed industry in the country.
Some of the key hospital bed industry players are Stryker Corporation, Medline Industries, Inc., Invacare Corporation, Paramount Bed Holdings Co., Ltd., Jiangsu Aegean Technology Co. Ltd., Hill-Rom Holdings, Inc., Merivaara Corp., Getinge AB, Midmark Corporation, and Carevel Medical Systems Private Limited are the key players offering hospital beds.
Asia-Pacific Hospital Bed Market Coverage
Type Insight and Forecast 2014-2024
Area of Use Insight and Forecast 2014-2024
Power Insight and Forecast 2014-2024
End-User Insight and Forecast 2014-2024
Hospital Bed Market by Country
Rest of Asia-Pacific