Asia-Pacific Hospital Bed Market – Analysis and Forecast (2019-2024)

1. Asia-Pacific Hospital Bed Market

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3. Asia-Pacific Hospital Bed Market 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 1.1 billion by 2024. The Asia-Pacific hospital bed market is primarily driven by factors such as developing healthcare infrastructure, increasing healthcare expenditure, increasing geriatric population and increasing prevalence of chronic diseases. Although the demand for manual beds is the highest in the region, the electric and semi-electric hospital beds are also anticipated to showcase considerable growth in the coming years.

4. Asia-Pacific Hospital Bed Market 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. The region has witnessed significant growth in the expenditure over healthcare facilities for the development of the healthcare infrastructure. Moreover, the private healthcare sector has outpaced the growth in the public sector with the adoption of advanced medical equipment including medical beds in the developing economies of the region. Geographically, Japan is the largest hospital bed market in the region owing to the aging population, high prevalence of chronic diseases and high healthcare expenditure. The medical beds demand in the elderly care facilities of Japan is very high, as its population is ageing rapidly.

5. Asia-Pacific Hospital Bed Market India is the fastest growing hospital bed market among Asia-Pacific countries. The healthcare infrastructure in the country is developing with the focus of Government in rural and semi-urban areas, thus creating demand for medical beds in the country. Although most of the demand is for manual medical beds, the expanding private sector creates opportunities for the industry players for the sale of electric and semi-electric beds. 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.

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