Report : Asia Pacific Hospital Bed Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Semi-Electric Bed, Electric Bed, and Manual Bed), Usage (Acute Care Bed, Long-term Care Bed, Psychiatric Care Bed, and Others), Application (Non-Intensive Care Bed and Intensive Care Bed), and End User (Hospitals & Clinics, Elderly Care Facilities, Ambulatory Surgical Centers, and Home Care Settings)
At 6.7% CAGR, the Asia Pacific Hospital Bed Market is speculated to be worth US$ 1,178.64 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific hospital bed market was valued at US$ 796.88 million in 2022 and is expected to reach US$ 1,178.64 million by 2028, registering an annual growth rate of 6.7% from 2022 to 2028. Increasing prevalence of chronic diseases and rising preference for highly equipped hospital bed with innovative features.
According to a report by the Institute of Electrical and Electronics Engineers (IEEE), continuous patient monitoring during hospitalization is necessary for risk identification, and early diagnosis and treatment, resulting in reduced mortality and morbidity, and hospitalization costs. The fall of patients from bed, and bedsores or pressure sores can seriously harm them. Pressure ulcers or bedsores can be avoided by timely, accurate mapping of pressure points for inhibiting tissue perfusion, which might lead to a patient's death. Smart hospital bed, enabled with advanced technologies, have highly developed embedded control functions and interactivity. They support new functionalities such as continuous monitoring of patients’ vital signs, preventing them from falling off the bed, and averting the development of pressure ulcers. In September 2021, Baxter announced a collaboration with Hillrom, Inc. for developing smart hospital bed with Hillrom, accounting for US$ 10.5 billion for manufacturing hospital bed. In October 2020, Stryker announced the launching of smart hospital bed with the industry's first and only completed wireless hospital bed, namely, "ProCuity." The newly launched product was designed to help reduce in-hospital patient falls at all acuity levels, improve nurse workflow and safety, and help lower hospital costs. This is expected to drive the market during the forecast period.
On the contrary, bedsores or compression sores associated with hospital bed hurdles the growth of Asia Pacific hospital bed market.
- Based on type, the Asia Pacific hospital bed market is categorized into semi-electric bed, electric bed, and manual bed. The semi-electric bed segment held 44.0% market share in 2022, amassing US$ 350.58 million. It is projected to garner US$ 514.24 million by 2028 to expand at 6.6% CAGR during 2022–2028.
- Based on usage, the Asia Pacific hospital bed market is categorized into acute care bed, long-term care bed, psychiatric care bed, and others. The acute care bed segment held 46.9% market share in 2022, amassing US$ 373.67 million. It is projected to garner US$ 547.68 million by 2028 to expand at 6.6% CAGR during 2022–2028.
- Based on application, the Asia Pacific hospital bed market is bifurcated into non-intensive care bed and intensive care bed. The non-intensive care bed segment held 52.8% market share in 2022, amassing US$ 421.11 million. It is projected to garner US$ 641.63 million by 2028 to expand at 7.3% CAGR during 2022–2028
- Based on end user, the Asia Pacific hospital bed market is categorized into hospitals & clinics, elderly care facilities, ambulatory surgical centers, and home care settings. The hospitals & clinics segment held 54.4% market share in 2022, amassing US$ 433.62 million. It is projected to garner US$ 657.52 million by 2028 to expand at 7.2% CAGR during 2022–2028.
- Based on country, the Asia Pacific hospital bed market has been categorized into the China, Japan, India, South Korea, Australia, and Rest of Asia Pacific. Our regional analysis states that China captured 32.8% market share in 2022. It was assessed at US$ 261.11 million in 2022 and is likely to hit US$ 404.13 million by 2028, exhibiting a CAGR of 7.6% during the forecast period.
Key players dominating the Asia Pacific hospital bed market are Hill Rom Holding inc. (Baxter); Stryker Corporation; Arjo Medical Devices; Paramount Bed Holding Co., Ltd.; Invacare Corporation; Malvestio Spa; Savion Industries; and STIEGELMEYER GMBH AND CO.KG among others.
- In Mar 2021, Paramount Bed Holdings Japan has launched "PARAMOUNT BED Global channel" on YouTube which will increase the company’s product awareness globally.
- In April 2022, Stryker named one of Fortune’s 100 Best Companies to Work for 12th consecutive year.
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