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Press release content from Business Wire. The AP news staff was not involved in its creation.

Asia Pacific Industry for Electric Beds to 2027 - Rise in Prevalence of Chronic Diseases is Driving Market Growth - ResearchAndMarkets.com

April 15, 2021 GMT

DUBLIN--(BUSINESS WIRE)--Apr 15, 2021--

The “Asia Pacific Electric Beds Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product; Application; End User and Country” report has been added to ResearchAndMarkets.com’s offering.

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According to this report the Asia Pacific electric bed market is expected to reach US$ 1,027.55 million in 2027 from US$ 446.36 million in 2019. The market is estimated to grow with a CAGR of 10.4% from 2020 to 2027. The report highlights trends prevailing in the Asia Pacific electric beds market and the factors driving market along with those that act as hindrances.

Based on product, the electric bed market is segmented into semi-automatic electric beds and fully automatic electric beds. The semi-automatic segment held the largest share of the market in 2019. However, the fully automatic electric beds segment is estimated to register the highest CAGR in the market during the forecast period. Electric beds allow adjusting both upper and lower body positions as well as the height of the bed. They help in dealing with a variety of medical issues and exponentially increase comfort. Rising prevalence of chronic diseases such as cancer, cardiovascular disease (CVD), and diabetes escalate the demand for electric beds. Also, the patients in higher stages of cancer lose their ability to perform various physiological tasks on their own, and electric beds assist healthcare staff looking after such patients. As per estimates by the Globocan 2018: India Factsheet, there were 1,157,294 new cancer cases and 784,821 cancer deaths in 2018. Thus, the increasing prevalence of chronic diseases is driving the growth of the Asia Pacific electric bed market. Also, the rising number of hospitals and clinics across Asia Pacific would boost the market growth during the forecast period.

The growth of the Asia Pacific electric beds market is attributed to key driving factors such as rise in number of chronic diseases, increasing number of hospitals and clinics and increase in number of public-private partnership in healthcare industry. However, the steep prices of electric beds and reduction in average length of hospital stays by population are likely to hinder the market growth.

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Arjo Medical Devices, Hill Rom Holding Inc. and Medline Industries, Inc are among the leading companies operating in the Asia Pacific electric beds market.

Reasons to Buy

  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Asia Pacific electric beds market.
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific electric beds market, thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.

Market Dynamics

Drivers

  • Rise in Prevalence of Chronic Diseases
  • Increasing Number of Hospitals and Clinics
  • Surge in Number of Public-Private Partnerships in Healthcare Sector

Restraints

  • Steep Prices of Electric Beds
  • Reduction in Average Length of Hospital Stays

Opportunities

  • Growth of Medical Tourism

Future Trends

  • Launch of Innovative Products

Companies Mentioned

  • Arjo Medical Devices
  • Hill Rom Holding Inc.
  • Medline Industries, Inc.
  • Invacare Corporation
  • Stryker Corporation
  • Malvestio Spa
  • LINET
  • Gendron Inc.
  • Joerns Healthcare LLC

For more information about this report visit https://www.researchandmarkets.com/r/ieuj0o

View source version on businesswire.com:https://www.businesswire.com/news/home/20210415005508/en/

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KEYWORD: ASIA PACIFIC

INDUSTRY KEYWORD: MANAGED CARE HOSPITALS HEALTH

SOURCE: Research and Markets

Copyright Business Wire 2021.

PUB: 04/15/2021 06:43 AM/DISC: 04/15/2021 06:42 AM

http://www.businesswire.com/news/home/20210415005508/en