Market Definition
The Patient Handling Equipment Market is a vital sector within the healthcare industry, providing essential tools and devices to facilitate the safe and efficient movement of patients. This market encompasses the production, development, and distribution of patient handling equipment—innovative solutions designed to assist healthcare professionals in lifting, transferring, and repositioning patients with care and comfort. Patient handling equipment plays a crucial role in ensuring the well-being of both patients and healthcare providers, contributing to the delivery of high-quality patient care.
Market Outlook
The global patient handling equipment market was valued at USD 23.2 billion in 2021 and it is anticipated to grow up to USD 44.7 billion by 2031, at a CAGR of 6.8% during the forecast period.
The Patient Handling Equipment Market is experiencing substantial growth, driven by the aging global population, the increasing prevalence of chronic diseases, and the emphasis on ergonomics and patient safety in healthcare settings. As healthcare facilities strive to improve patient outcomes and reduce the risk of musculoskeletal injuries among healthcare workers, the market is characterized by ongoing innovations in patient lift systems, transfer aids, and mobility devices, reflecting the industry’s commitment to advancing patient handling solutions.
Factors propelling the market include the rise in demand for bariatric patient handling equipment, the integration of smart technologies in patient lifts, and the focus on providing solutions for patients with limited mobility. Patient handling equipment contributes to enhancing patient comfort, preventing caregiver injuries, and optimizing workflow efficiency, positioning the market for sustained growth. As healthcare delivery models evolve and patient care becomes more personalized, the Patient Handling Equipment Market remains instrumental in providing state-of-the-art solutions for safe and dignified patient handling.
While the Patient Handling Equipment Market experiences substantial growth, it faces challenges such as the need for standardization in equipment design, addressing issues related to device interoperability, and adapting to the evolving needs of diverse patient populations. Overcoming these challenges requires collaboration within the healthcare, medical device, and regulatory sectors, investment in user-friendly designs, and continuous improvement in patient handling equipment functionalities.
Opportunities within the market arise from the ability to provide innovative, adaptable, and patient-centered handling solutions. The convergence of robotics in patient lifts, advancements in materials for comfort and durability, and the increasing demand for specialized equipment for pediatric and bariatric patients create opportunities for market players to lead in the advancement of Patient Handling Equipment. Proactive engagement with healthcare institutions, regulatory authorities, caregivers, and technology partners, coupled with a commitment to patient safety and dignity, positions companies to capitalize on the expanding opportunities within the Patient Handling Equipment Market.
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Research Objectives
- Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
- Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
- Identify factors influencing market growth and challenges, opportunities, drivers and restraints
- Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
- Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
- Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
- To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
- Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Market Segmentation
The report analyses the global patient handling equipment market based on Product, Application, End-use and Region.
Global Patient Handling Equipment Market by Product
Based on product, it is segmented into wheelchairs and scooters, medical beds, mechanical lifting & transfer equipment, ambulatory aid devices, bathroom safety supplies and others. Among these, the wheelchairs and scooters segment accounted for significant market share in 2021. Wheelchairs and scooters cover manual wheelchair, powered wheelchair, and mobility scooters. The rising number of accidental injuries resulting in disabilities will upsurge the demand for wheelchairs and scooters. Additionally, people of age 65 and above are more prone to injuries and fall as compared to other age groups. This age group generally requires wheelchairs and scooters for enhanced safety, thereby driving segmental growth. Moreover, the growing geriatric population will further escalate the demand for wheelchairs and scooters. Since countries like Germany and Italy have a high percentage share of the population aged 60 and older, these countries are worst affected by COVID-19. The patient handling equipment demand has increased significantly in a way that several medical bed manufacturers have ramped up the production to meet the soaring market demand.
Global Patient Handling Equipment Market by Application
Based on application, it is segmented into acute & critical care, long term care, mobility assistance, fall prevention and others. Among them, the acute & critical care segment is expected to experience the fastest growth rate during the forecast period. The increasing population suffering from chronic disorders such as myocardial infarction and stroke will drive the segmental growth during the forecast period. Moreover, rising number of patient admissions due to increasing prevalence of chronic disease drives segmental growth. Furthermore, adoption of innovative technologies for acute & critical care patient handling will further drive the overall market growth.
Global Patient Handling Equipment Market by End-use
Based on End-use, it is segmented into hospitals, home care settings, elderly care facilities and others. Among them, hospital segment is expected to experience the fastest growth rate during the forecast period. Rising number of patients requiring critical care in hospitals along with advanced healthcare infrastructure will boost the segmental growth during the forecast period. Hospitals provide technologically advanced patient handling equipment including, ICU beds, sling lifts, transfer chairs, slide boards, etc. Thus, increasing demand for technologically advanced patient handing instruments will drive the market growth.
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Major Players
The key players in the market are Getinge , Stryker Corporation, Invacare, Hill Rom Services, Guldmann, Stiegelmeyer, LINET, Joerns Healthcare, HoverTech International, Handicare, Prism Medical, Ossenberg, Drive Medical, Antano Group and ORTHOS XXI, among others.
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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
- Market Size in 2021 – $23.2 Billion
- Market Size in 2031 – $44.7 Billion
- CAGR % – 6.8%
- Historic Period – 2015 – 2020
- Forecast Period – 2022 – 2031
- Base Year – 2021
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