Key Players: Arjo (Sweden), Hill-Rom Holdings (US), and Invacare (US). The study includes an in-depth competitive analysis of these key players in the patient handling equipment market, along with their company profiles, recent developments, and key market strategies.
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“High risk of injuries to caregivers during the manual handling of patients to drive market growth.”
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% during the forecast period. The growth of this market is largely driven by factors such as 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.
On the other hand, the persistent difficulties in handling bariatric patients are expected to limit market growth to a certain extent.
“Patient lifts segment is expected to grow at the highest CAGR during the forecast period.”
Based on type, the patient transfer devices market is segmented into patient lifts, slings, sliding sheets, air-assisted lateral transfer mattresses, and accessories. The patient lifts segment is expected to grow at the highest CAGR in the forecast period.
The growth of this market is largely driven by factors such as the increasing installation of ceiling lifts in hospitals, increasing bariatric population, and the growing adoption of ceiling lifts in bariatric patient handling practices
“The electric beds segment is expected to grow at the highest CAGR during the forecast period.”
Based on type, the medical beds market is segmented into manual, electric, and semi-electric beds.
The electric beds segment is expected to grow at the highest CAGR in the forecast period. The benefits of electric beds over manual beds such as it helps to reduce risks &pressure damage and reduce bedsores in bedridden patients are some of the major factors expected to propel the growth of this market.
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“APAC to grow at the highest CAGR during the forecast period.”
The market in the Asia Pacific is estimated to grow at the highest CAGR during the forecast period. Factors such as the increasing incidence of MSD-caused injuries to caregivers, growth in the elderly population, healthcare infrastructure improvements, and the increasing prevalence of chronic diseases are the major factors driving market growth in the Asia Pacific.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the patient handling equipment market.
- By Company Type: Tier 1: 40%, Tier 2: 30%, and Tier 3: 30%
- By Designation: C-level Executives: 27%, Directors: 18%, and Others: 55%
- By Region: North America: 50%, Europe: 20%, APAC: 15%, and the RoW: 15%
The market study covers the Patient handling equipment market across various segments. It aims at estimating the market size and the growth potential of this market across different segments (on the basis of type, end user, and region).
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments, and key market strategies.
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In the end, the Global Patient Handling Equipment Market report’s conclusion part notes the estimation of the industry veterans.