According to Report, the patient handling equipment market is expanding growth at a 15% CAGR during the forecast period 2021 to 2030 and is expected to reach US$ 28 billion by 2030.
Patient Handling Equipment Market (By Product: Lifting Slings, Wheelchairs, Medical Beds, Ambulatory Aids, Shower, Bath, and Toileting Equipment, and Transfer and Positioning Aids and Patient Lifts; By End User: Hospitals, Nursing Homes, Assisted Living Facilities, Home Healthcare, and Trauma, Rehabilitation, and Paramedical Centers) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2021-2030
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The gaining traction from a number of factors such as rising geriatric population, high risk of injuries to caregivers as well as the patients during manual handling, increasing incidence of disabilities, and implementation of regulations pertaining to the safety at the healthcare facilities. On the other hand, the lack of skilled professionals to handle these equipment is hindering the market from attaining its true potential. Nevertheless, the vendors operating in the global patient handling equipment market are expected to gain new opportunities from private institutional nursing and the entry of several major players in domestic markets.
The healthcare industry is currently flourishing in a number of developed and emerging economies, and if the vendors operating in this market can formulate a way to train professionals to operate these equipment, the demand will be ideally met.
Rental Provisions Emerging as Market Trend to Create New Prospects
Rental provisions for patients requiring temporary lifts and slings have been envisaged to be one of the primary reasons for the rise in the demand for patient handling equipment in healthcare centers. The need to avoid the risk of developing musculoskeletal injuries to both patients and caregivers when manually lifting patients could be another factor augmenting the demand in the world patient handling equipment market.
Healthcare centers in developed nations could incentivize the adoption of patient handling equipment because of the high benefit to investment cost ratio. Patient handling equipment minimize the role of caregivers in patient assistance. Additionally, labor expenses could be directed to the purchase of patient handling equipment such as medical beds with assistive technology and patient lifts.
Worries about Return on Investment in Expensive Equipment Limit Adoption
With end users nervous about returns on investment in exorbitant technologically advanced equipment and low awareness among the general public, the international patient handling equipment market could see a fall in growth during the course of the forecast period. Furthermore, lack of regulatory and legal protocols for patient handling in emerging nations such as Sri Lanka and India has been foretold to hinder market growth in the coming years.
Nevertheless, there could be a rollout of new policies in favor of a healthcare system that is patient-centered because of rising pressure from international authorities. Moreover, high focus on implementing a decent work culture and improving patient care quality have been forecast to create promising opportunities in the international patient handling equipment market.
Medical Bed Segment Remains Most Prominent
Based on product-type, the market for patient handling equipment has been segment into wheelchairs, lifting slings, medical beds, ambulatory aids, and shower, bath, and toileting equipment. In 2020, medical bed segment was most profitable, and considering they are mandatory equipment for the caregivers and are readily invested on by the hospitals, the segment is expected to remain the most important throughout the forecast period. Moreover, a number of high-end super-specialty healthcare facilities are coming up, which are willing to invest on the latest products that enable their patients in bathing, walking, and toileting. Financially equipped patients in the urban parts of the world are also driven towards hospitals with modern facility, and thereby providing traction to the medical bed segment of the global patient handling equipment market. Curative care beds, long-term care beds, and psychiatric care beds are some of the sub-segments of the medical beds that are gaining demand across the world.
Europe Remains Highly Profitable Region
From geographical perspective, some of the most important regions for the patient handling equipment market are North America, Europe, and Asia Pacific. Among these, Europe held the leading position in 2020, and is likely to retain its top position throughout the forecast period, owing to robust healthcare infrastructure and government regulations in respective countries. By 2024, the Europe patient handling equipment market is estimated to be worth US$8.0 bn. On the other hand, the region of Asia Pacific, which resides some of the most promising emerging economies such as India, China, and Japan, are expected to turn into highly lucrative region towards the end of the forecast period. Growing popularity of medical tourism is also expected to favor the added demand for patient handling equipment from Asia Pacific.
ArjoHuntleigh (Getinge Group) is identified as the most prominent company currently operating in the global patient handling equipment market, although the report also picks out a few other notable players, such as V.Guldmann A/S, DJO Global, Hill-Rom Holdings, Inc., Invacare Corporation, Etac AB, Joerns Healthcare LLC, Permobil AB, Prism Medical, Stiegelmeyer & Co. GMBH, Stryker Corporation, Patterson Medical Holdings, Inc., and Sunrise Medical LLC.
Report Scope of the Patient Handling Equipment Market
|Market Size||US$ 28 Billion by 2030|
|Growth Rate||CAGR of 15% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Fastest Growing Market||Asia Pacific|
|Companies Mentioned||V.Guldmann A/S, DJO Global, Hill-Rom Holdings, Inc., Invacare Corporation, Etac AB, Joerns Healthcare LLC, Permobil AB, Prism Medical, Stiegelmeyer & Co. GMBH, Stryker Corporation|
- Lifting Slings
- Medical Beds
- Ambulatory Aids
- Shower, Bath and Toileting Equipment
- Transfer and Positioning Aids and Patient Lifts
By End User
- Nursing Homes
- Assisted Living Facilities
- Home Healthcare
- Trauma and Rehabilitation and Paramedical Centers
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Rest of the World
- Latin America
- Middle East and Africa
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2021) and forecast (2021-2030);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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