The paper aims to meet the elderly's demand for the function (internal elements) and shape (external elements) of sleep health products, and guide designers to design sleep health products that meet the needs of the elderly. Through theoretical analysis, an analysis framework for the design of sleep health products for the elderly is constructed. Based on this framework, in terms of function, the questionnaire survey and field interview are used to collect old people sleep function demand factor of health products. Based on the analytic hierarchy process (AHP), the weight of each feature is obtained to get the old sleep health products ordered functional requirements; in the aspect of modeling, questionnaire survey, on-site interview and focus group selection are used to replace the expressive samples and image words, and then the corresponding relationship between modeling elements and image emotional words is constructed by combining the data obtained from questionnaire survey with the results of multiple regression analysis and quantitative class I theoretical analysis. Defining product functions (internal factors) and modeling (external elements) needs, and transforming intangible needs into tangible modeling elements can effectively guide the innovative design of sleep health products for the elderly, and has reference value to the product modeling design method of related industry.