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 size was valued at USD 544.46 million in 2019 and is poised to grow from USD 576.04 million in 2023 to USD 904.35 million by 2031, growing at a CAGR of 5.8% in the forecast period (2024-2031).

Asia medical/hospital beds market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Hill-Rom Holdings Inc.', 'Stryker Corporation', 'Getinge AB', 'Linet Spol. S.R.O.', 'Invacare Corporation', 'Paramount Bed Co., Ltd.', 'Malvestio Spa', 'Merivaara Corporation', 'Span-America Medical Systems Inc.', 'Savion Industries Ltd.', 'Jiangsu Saikang Medical Equipment Co., Ltd.', 'Suzhou Zhongjian Medical Technology Co., Ltd.', 'Beijing Jingdong Technology Co., Ltd.', 'Nanjing Jin Bai He Medical Apparatus Co., Ltd.', 'Shanghai Pinxing Medical Equipment Co., Ltd.', 'Guangdong Kareway Medical Technology Co., Ltd.', 'Guangzhou Shileva Medical Equipment Co., Ltd.', 'Foshan Jianlian Homecare Products Co., Ltd.', 'Beijing Fuxing Xiaocheng Medical Technology Co., Ltd.', 'Guangdong Baihe Medical Technology Co., Ltd.'

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.

Sensors for body temperature, blood, heartbeat, oxygen, and pressure are all included in smart hospital beds. These sensors continuously transmit patient signals to a central system for physician review, and they play a critical role in the care of patients who require critical care. Robotic beds are becoming more popular as a promising tool for improving patient handling and reducing RSI. As a result, smart and robotic beds present major opportunities for the Asian medical/hospital beds market.

Asia Pacific is expected to hold the increased incidences of various chronic diseases; increased prevalence of cancers of the digestive, urinary, respiratory, and reproductive systems; development in per capita healthcare spending; growing investments in the Indian healthcare sector; and augmentation of private healthcare institutions in rural areas all contributed to India occupying the largest share of the Asia medical/hospital beds market. China, on the other hand, is predicted to expand the fastest throughout the forecast period. China's rapid expansion is largely caused by increased healthcare funding in national budgets, an increasing middle-class population, a geriatric population, increasing disposable income, and optimised healthcare accessibility. As a result, the growing elderly population will generate higher demand for medical/hospital beds.