The Asia-Pacific Hospital Beds Market is projected to reach $1.95 billion by 2030
Meticulous Research®—a leading global market research firm—has released a comprehensive report titled, ‘Asia-Pacific Hospital Beds Market by Product (Bed, Accessories), Technology (Manual, Powered, Smart), Type of Care (Rehabilitative, Curative, Long-term), Healthcare Facility (Maternal, Pediatric, Critical, Bariatric, Homecare, Med-Surg) - Forecast to 2030’. This report provides an in-depth analysis of the Asia-Pacific hospital beds market, projecting it to reach $1.95 billion by 2030, with a compound annual growth rate (CAGR) of 8.9% during the forecast period.
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Market Drivers and Opportunities
The growth of the Asia-Pacific hospital beds market is primarily driven by several factors:
- Increasing Number of Hospitals: As the healthcare infrastructure expands, the demand for hospital beds is on the rise.
- Rising Surgical Procedures: An increase in surgical interventions necessitates a higher number of beds.
- Technological Advancements: Innovations in hospital bed technology, including smart and robotic beds, are enhancing patient care and driving market growth.
- Aging Population: The growing elderly demographic is contributing to a higher prevalence of chronic diseases, which increases the demand for hospital beds.
- Medical Tourism and Home Care Demand: The rise of medical tourism and the high demand for home care services are further expanding market opportunities.
- Healthcare Expenditures: Increased healthcare spending in countries such as China and India is fostering market growth.
However, the market faces challenges, including the growing preference for minimally invasive surgical procedures, which could restrain the demand for traditional hospital beds.
Market Segmentation and Key Insights
The Asia-Pacific hospital beds market is segmented by product, technology, type of care, healthcare facility, and country. Here’s a snapshot of the key segments:
- Product:
- Beds: Expected to dominate the market in 2023. Hospital beds are essential in healthcare facilities, with varying styles and sizes based on capabilities and user weight capacity. Rising hospitalization rates are expected to drive demand for various types of hospital beds.
- Powered Beds: Expected to hold the largest market share in 2023. The powered beds segment includes electric and semi-electric beds, with electric beds leading due to their advanced features like position adjustment, monitoring sensors, and fall detection capabilities.
- Curative Care: Anticipated to capture the largest market share in 2023. The demand for curative care is driven by increasing inpatient admissions due to chronic and infectious diseases. For example, the IDF Diabetes Atlas reports a significant rise in diabetes cases in China, which fuels the need for hospital beds.
- Homecare Settings: Expected to experience the highest CAGR during the forecast period. Homecare settings offer benefits such as reduced risk of hospital-acquired infections, personalized patient care, and cost-effectiveness compared to traditional hospital settings.
- China: Projected to account for the largest share of the market in 2023. Factors such as rising healthcare expenditure, an increasing incidence of non-communicable diseases (NCDs), and an aging population contribute to China's significant market share. NCDs like cardiovascular diseases, cancer, diabetes, and respiratory diseases are prevalent in China, driving the demand for hospital beds.
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Key Players in the Market
The report profiles several key players in the Asia-Pacific hospital beds market, including:
- Stryker Corporation (U.S.)
- Hill-Rom Holdings Inc. (Part of Baxter International Inc.) (U.S.)
- Getinge AB (Sweden)
- Invacare Corporation (U.S.)
- Paramount Bed Holdings Co., Ltd. (Japan)
- Medline Industries, LP (U.S.)
- Stiegelmeyer GmbH & Co. KG (Germany)
- LINET Group SE (Netherlands)
- Joerns Healthcare LLC. (U.S.)
- Savaria Corporation (Canada)
- Drive DeVilbiss Healthcare (U.S.)
- Malvestio Spa (Italy)
- Midmark Corporation (U.S.)
- Amico Corporation (U.S.)
- Famed Zywiec Sp. z o.o. (Poland)
Conclusion
The Asia-Pacific hospital beds market is poised for significant growth, driven by advancements in technology, increasing healthcare needs, and rising medical tourism. While challenges such as the preference for minimally invasive procedures may impact market dynamics, the overall outlook remains positive, with substantial opportunities for growth across various segments and countries.
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*Related research:
1. Europe Hospital Beds Market: https://www.meticulousresearch.com/download-sample-report/cp_id=4626?utm_source=article&utm_medium=social&utm_campaign=product&utm_content=18-09-2024
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