Acumen research and consulting estimates that the global patient handling equipment market is anticipated to reach market size of around US$ 15,000 Mn by 2027 and is anticipated to grow at a CAGR of around 7% in terms of revenue during the forecast period 2020 – 2027.
Patient handling equipment is a support tool that helps patients to move between beds and chairs in hospitals, nursing homes and other care facilities. The electronic equipment used for the treatment of the patient based on medical conditions, specifically for the welfare of the health care provider, the medical and the recovery goals. Various tools are available, such as transmission sheets, which allow manual intervention in lateral transfers, repositioning and patient satisfaction to be reduced. Beds that transform patients in a sitting position automatically. Sit down and stand assists to support people with moving places. Non-mechanical assistance Mobile automatic elevators which can take patients from the floor to switch and reposition patients, take patients from ambulances.
In the market for patient handling equipment in Europe, the increase in diseases in ways of life and the growing elderly population is the main driver. Health departments expand the use of patient care tools in order to avoid injuries sometimes caused by physical diagnosis. Tasks in the treatment of patients include shifting, lifting and repositioning (turning of patients into bed, baths on the bed, patient dressing, etc.). Operating boards, armboard boards, wheelchairs, hospital frames, and scooters. poles and attachments. The transporting people from one place to another who need emergency attention, swings, wheelchairs and scooters are used. Patients should change location for relaxation and provide a supportive space for sleep in medical beds.
The growing demand and penetration of patient handling equipment in developing markets would provide the global patient handling equipment industry with tremendous growth opportunities. While the global demand for patient handling equipment is rising considerably in developing markets, the demand in various countries remains significantly unexplored. The big producers of patient handling equipment enter the unexploited demand in the regions with fast economic growth and rising policy measures in Asia. There is immense business demand for countries such as China and India. In these countries, the healthcare industry is undergoing tremendous expansion. Medical equipment suppliers will build their manufacturing facilities in these countries on the large customer base and enhanced health infrastructure. Moreover, in the developed countries, the manufacture of medical devices products continues to reduce total production costs and thus lower product prices without changing price. Governments are moving towards universal healthcare coverage in different countries. There are, therefore, ample prospects for growth on the global market of patient handling tools in these countries to improve their health care access.
The largest regional patient handling equipment market share in the world is in North America. Over the projected era, the rising obesity prevalence rate is expected to fuel market demand. In the US, for instance, the prevalence of obesity in 2018-19 was roughly 42.2% (about 39.8% in 2015-16) according to the Centers for the Control and Prevention of Diseases (CDC). Thanks to heavy research and development spending, Europe has held the second largest position in the market for patient handling devices. In 2018, for instance, nearly 40% of all medical technology patent applications from Europe were filed under MedTech Europe. Thanks to a increasing life expectancy, the increasingly rising global demand for medical supplies. In the area of South Asia, the World Bank records 69.1 and 69.4 years of life at birth in 2017 and 2018. In fact, rising healthcare investment fuels business demand. For reference, in 2018, according to the World Bank, Japan, China and India's health spending amounted to approx. 10.94%, 5.15% and 3.53%. These higher costs assisted by life expectancy rates will raise competition for health care facilities over the next few years. Thanks to the high levels of obesity, this area is projected to expand steadily. For starters, about 28.3% of adults and 81.3% of women in the South African region suffered from obesity according to the World Health Organisation in 2018. In the region, however, poor health infrastructure in the projected period is expected to hamper business development.
Major players included in this report are Stryker Corporation, Hill-Rom Holdings Inc., Invacare Corporation, Guldmann Inc., Prism Medical, Getinge Group, Linet Spol. S.R.O., Stiegelmeyer & Co. GmBH, Joerns Healthcare, and others. The growing number of mergers and procurements, the rising number of alliances and agreements, and the accelerated introduction of goods are some of the new developments in the European industry for patient handling devices.
The global patient handling equipment market is segmented as below:
Patient Handling Equipment Market By Product
Patient Handling Equipment Market By Type of Care
Patient Handling Equipment Market By End User
Elderly Care Homes
Patient Handling Equipment Market By Geography
Middle East & Africa
The market value of patient handling equipment is anticipated to be around US$ 15,000 Mn in 2027
It is anticipated to grow around 7% CAGR amid the forecast period 2020-2027
North America held maximum share in 2019
Asia Pacific is projected to grow at a fast pace during forecast period from 2020-2027
Growing aging population is expected to drive the growth of the patient handling equipment market
Insufficient training to caregivers for operating patient handling equipment is a major factor expected to restraint the growth of the market.
The key players operating in handling equipment market such as Stryker Corporation, Hill-Rom Holdings Inc., Invacare Corporation, Guldmann Inc., Prism Medical, Getinge Group, Linet Spol. S.R.O., Stiegelmeyer & Co. GmBH, Joerns Healthcare, and others.