Asia Medical/Hospital Beds Market Size, Share, Growth Analysis, By Product(Hospital/medical beds, and accessories), By Area of use(Critical care, long-term care, med-surg, homecare), By Type of care(Long-term care, curative care, rehabilitative care), By Technology(Powered beds, and manual beds), By End-user(Hospitals, home care settings, elderly care settings), By Region - Industry Forecast 2024-2031

Asia Medical/Hospital Beds Market Drivers

Rise in Geriatric Population to Boost Demand for Hospital Beds during Forecast Period

• According to the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), nearly 12.4% of the region's population was 60 years or more in 2016, however this figure is expected to grow to even more than a quarter, or 1.3 billion people, by 2050. There are, however, differences across the region. More than a third of the population in East and North Asia (which includes places with significant geriatric populations including Japan and the Republic of Korea) is presumed to be 60 years or older by 2050, whilst one in every four people in North and Central Asia will indeed be 60 years or older. According to UNESCAP, the number of elderly people in East and North East Asia was higher in 2016, followed by North and Central Asia. South East Asia is predicted to experience the fastest rising elderly population in the upcoming years, with an expansion to 21.1% in 2050. The elderly population is raising the rate of various chronic illnesses.

Asia Medical/Hospital Beds Market Restraints

High Cost associated with Hospital Beds to Hinder Market Growth

• The high cost of hospital beds, injuries associated with hospital beds, and advancements in the pharmaceutical sector may also lead to a slowdown in hospital admission are some of the reasons holding back the growth of the hospital beds market in the region during the forecast period.