The Asia Pacific hospital bed market size was $1.3 billion in 2015 and is forecasted to grow at a CAGR of 5.2% during the period 2016-2022. General beds have been witnessing the fastest growth, and are projected to grow at a CAGR of 5.6%, during the forecast period, among the various types of beds available in the market namely, birthing beds, pediatric beds, bariatric beds, pressure relief beds and others.
Some of the significant factors driving the Hospital Bed Market in the region include, surge in the aging population, rising prevalence of chronic diseases, and improving hospital infrastructure.
Hospital beds are being utilized for various types of treatments such as acute care, critical care and long-term beds, acute care beds held the largest share of the hospital bed market in the region, in 2015.
Increase in diabetes causes numerous diseases to a human being such as cardiovascular diseases, nerve damage, kidney damage, skin conditions and others, due to which the patients need to be admitted in the hospital at times for monitoring and treatment. According to the Asian Diabetes Prevention Initiative, around 60% of diabetics in the world live in Asia. It is also expected that without intervention, both China and India combined are likely to have almost half a billion of population suffering from diabetes, by 2030.
Some of the key players operating in the Asia-Pacific Hospital Bed industry are Hill-Rom Holdings Inc., Stryker Corporation, Paramount Bed Co. Ltd., SEAHONENCE, INC., FRANCE BED HOLDINGS Co. Ltd., Guangdong Kareway Medical Technology Co. Ltd., Jiangsu Aegean Technology Co. Ltd., Midmark Corporation, Nanning Passion Medical Equipment Co. Ltd. and Carevel Medical Systems Private Limited.
News Courtesy: P&S Market Research
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