At 14.9% CAGR, the Asia Pacific Smart Hospital Beds Market is projected to be worth US$ 167.98 million by 2030, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific smart hospital beds market was valued at US$ 55.26 million in 2022 and is expected to reach US$ 167.98 million by 2030, registering a CAGR of 14.9% from 2022 to 2030. Digitalization in healthcare systems and upsurge in geriatric population are among the critical factors attributed to the Asia Pacific smart hospital beds market expansion.    

According to the United Nations, the global median age has changed notably in the last few decades; it increased from 24 in 1950 to 31 in 2020. This indicates that there has been a rise in the elderly population, along with the overall population, in every country. According to the World Health Organization (WHO) estimates published in October 2022, 1 in 6 people worldwide would be aged 60 or above by 2030; the number is further expected to surge from 1 billion in 2020 to 1.4 billion by 2030 and 2.1 billion by 2050. In addition, the number of people aged 80 and above is expected to reach 426 million by 2050.

The growing geriatric population can be associated with the growth of the Asia Pacific smart hospital beds market. These beds allow nurses and caregivers to take good care of elderly patients. Also, the demand for smart beds in homecare settings is soaring as installing smart beds in these setups helps reduce dependency on caregivers and nurses for changing positions of older patients on beds. Also, with smart beds, keeping a record of their vitals has become easier and simpler for caregivers.

On the contrary, cybersecurity risks and recalls associated with smart hospital beds hamper the Asia Pacific smart hospital beds market.

Based on patient weight, the Asia Pacific smart hospital beds market is segmented into less than 70 lb, 70 to 150 lb, 150 to 400 lb, 400 to 500 lb, and greater than 500 lb. The 400 to 500 lb segment held 43.2% share of Asia Pacific smart hospital beds market in 2022, amassing US$ 23.89 million. It is projected to garner US$ 74.48 million by 2030 to expand at 15.3% CAGR during 2022–2030.

Based on offering, the Asia Pacific smart hospital beds market is segmented into products & accessories, software & solutions, and services. The products & accessories segment held 46.5% share of Asia Pacific smart hospital beds market in 2022, amassing US$ 25.67 million. It is projected to garner US$ 76.24 million by 2030 to expand at 14.6% CAGR during 2022–2030.

Based on application, the Asia Pacific smart hospital beds market is segmented into fall prevention, pressure injury prevention, patient deterioration & monitoring, and others. The fall prevention segment held 81.5% share of Asia Pacific smart hospital beds market in 2022, amassing US$ 45.03 million. It is projected to garner US$ 138.08 million by 2030 to expand at 15.0% CAGR during 2022–2030.

Based on end user, the Asia Pacific smart hospital beds market is segmented into hospitals, clinics & nursing homes, ambulatory surgical centers, medical laboratories, long term care centers, and others. The hospitals segment held 71.3% share of Asia Pacific smart hospital beds market in 2022, amassing US$ 39.37 million. It is projected to garner US$ 119.70 million by 2030 to expand at 14.9% CAGR during 2022–2030.

Based on country, the Asia Pacific smart hospital beds market has been categorized into China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific. Our regional analysis states that China captured 29.2% share of Asia Pacific smart hospital beds market in 2022. It was assessed at US$ 16.14 million in 2022 and is likely to hit US$ 48.38 million by 2030, exhibiting a CAGR of 14.7% during 2022–2030.   

Key players operating in the Asia Pacific smart hospital beds market are Arjo AB, Hill-Rom Holdings Inc, Invacare Corp, LINET spol SRO, Malvestio SpA, Paramount Bed Co Ltd, Stiegelmeyer GmbH & Co. KG, and Stryker Corp, among others.

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