The growth of patient handling equipment market is largely driven by the rising geriatric population, high risk of injuries to caregivers during the manual handling of patients, and the implementation of regulations ensuring the safety of healthcare personnel during manual lifting processes.
The patient handling equipment market is projected to reach USD 12.6 billion by 2024 from USD 8.9 billion in 2019, at a CAGR of 7.2%.
The patient transfer devices segment is expected to account for the largest share of the market. The large share of this segment can primarily be attributed to factors such as the increasing installation of ceiling lifts in hospitals and the growing adoption of patient lifts for bariatric patient handling.
The wheelchairs & mobility scooters segment is expected to account for the largest share of the mobility devices market. The increasing geriatric, obese, and disabled population is the key factor contributing to the growth of this market.
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End User of Patient Handling Equipment Market:
2. Home Care Settings
3. Emergency Medical Services
4. Elderly Care Facilities
5. Trauma Centers
The hospitals segment is expected to account for the largest share of this market in 2019. The large share of this segment is primarily attributed to the growing patient population, rising geriatric population, growing number of disabled people, increasing number of injuries caused during the patient handling process, and the increasing preference for patient handling equipment over manual handling in hospitals.
Regional Growth, Development and Demand Analysis:
Europe is expected to account for the largest share of this market, followed by North America. The large share of this regional segment is attributed to the growing number of government and non-government initiatives regarding the adoption of safe patient handling equipment, wide acceptance of a â€œno-liftâ€ approach in European countries, and the presence of a large number of equipment manufacturers in Europe.
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The major companies in the patient handling equipment market include Arjo (Sweden), Invacare (US), and Hill-Rom Holdings (US).
Arjo (Sweden) has a broad range of patient handling equipment, which ensures safe and comfortable patient handling. With its strong geographical presence, brand image, and wide distribution network, the company is expected to hold a significant position in the market.
Key Questions Answered in The Report:
1. Who are the major market players in the market?
2. What are the regional growth trends and the largest revenue-generating regions for the market?
3. What are the major drivers and challenges in the market?
4. What are the major product segments in the market?