APAC Hospital Beds Market

APAC Hospital Beds Market Size (2023 to 2028)

As per our research report, the APAC hospital beds market size was worth USD 2.14 billion in 2023 and is predicted to be growing at a CAGR of 8.01% between 2023 to 2028.

The Asia-Pacific hospital beds market is majorly driven by the factors such as a surge in the prevalence of chronic diseases, the proliferation of the aging population, and developments in the healthcare infrastructure. Growing usage of beds for various treatments such as critical care, long-term beds, and acute care is another significant factor hiking the growth rate of the market. On the other hand, an increase in diabetic patients in emerging countries such as India and China demands more treatment procedures. Over the years, cardiovascular diseases, skin, and other conditions have grown significantly, which is further expected to propel the market growth.

Additionally, factors such as rising investments by private and government organizations to improve the organizational infrastructure, the rising number of hospital beds in private hospitals in the countries such as India and China, and technological advancements in ICU beds are further projected to promote the growth rate of the hospital beds market in this region. Increasing patient care is more likely to accelerate market growth in the coming years. Moreover, the COVID-19 pandemic has rapidly augmented the hospital beds market's growth in Asian countries in recent times. After the pandemic effect, the market players are provided with large opportunities in terms of revenue. 

However, in India, the declining number of beds in public hospitals is expected to impede market growth. High costs associated with the hospital beds, lack investments, and budget constraints from the governments in the underdeveloped countries further diminish the demand of the Asia-Pacific hospital beds market.

Impact of COVID-19 on APAC hospital beds market:

Since the pandemic's arrival, drastic changes have taken place in the APAC region. While the different sectors are in the critical stage, the hospital industry has been positively impacted by the recent novel coronavirus. 

COVID-19 was first identified in China, Wuhan. The virus has been spread to the globe, including the APAC region. The Asian countries have also implemented the lockdown and ban on transportation. The surge in the cases has required hospital beds and isolation ward beds due to the prohibition on transportation and flights, and the supply chain had been disrupted during the first quarter of 2021. However, after the uplift of lockdown, the supply chain has been resumed. As the acceleration in the COVID-19 positive case has required the number of hospital beds, hence the demand for the hospital beds has rapidly increased. Hospital bed manufacturers have produced many beds and supplied them to the hospital and patients based on the requirements. Moreover, the demand for home care trends has been increased in the recent period, which is expected to increase the market growth. 

This research report on the APAC hospital beds market has been segmented and sub-segmented into the following categories.

By Usage:

• Acute care beds
• Long term care beds
• Psychiatric care beds
• Others (maternity, etc.)

By Power:

• Electric Bed
• Semi-Electric Bed
• Manual Bed

By End-User:

• Hospitals
• Clinics
• Ambulatory services
• Others

By Country:

• India
• China
• Japan
• South Korea
• Australia
• New Zealand
• Thailand
• Malaysia
• Vietnam
• Philippines
• Indonesia
• Singapore
• Rest of APAC

Geographically, the APAC hospital beds market is predicted to be the most dominating region in the global market by the end of the forecast period. The rising number of contract manufacturing organizations and an increasing number of private hospitals are major factors driving the market growth in this region.

The Chinese market is forecasted to account for the largest share in this regional market during the forecast period. Y-O-Y growth in the population, growing prevalence of chronic diseases, and key market participants' availability drive the market. 

The Indian market is considered the most lucrative regional market in the Asia-Pacific during the forecast period. The Indian government has taken initiatives to improve the better hospital facilities, and growing government investments and funding are expected to accelerate India's market.

The Japanese market is expected to register a healthy growth rate during the forecast period and account for a substantial share in this regional market by the end of the forecast period.

KEY MARKET PARTICIPANTS:

Some of the notable companies dominating the APAC hospital beds market profiled in this report are Invacare Corporation, Paramount Bed Holdings Co. Ltd., Gendron Inc., Medline Industries Inc., LINET spol. S r.o., Savaria Corporation, Savion Industries, Hill-Rom Holdings Inc., Stryker Corporation, and Getinge Group.