Patient Handling Equipment Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.
The growing geriatric population across the world is expected to drive global patient handling equipment market share in the coming years. Additionally, increasing instances of numerous diseases is also projected to fuel the overall market growth over the coming years. Patient handling equipment is generally designed to ensure safer and simpler patient movement. Various technological advancements in the medical sector are projected to drive the industry outlook primarily due to the increasing adoption of new equipment as well as upgradation of the existing patient handling equipment.
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The growing presence of several occupational safety organizations across the globe would further compliment the product adoption rate and revenue growth of patient handling equipment market over the forthcoming time period. Organizations like OSHA (Occupational Safety and Health Administration) actively advocate that hospitals and other medical facilities should own and also have the right amount of patient handling equipment on premises. In absence of such devices, hospital workers have to physically handle the patients during medical procedures, which puts both the patient and the worker in the path of potential harm. Such initiatives are expected to actively support the market revenue expansion over the coming years.
In terms of the product, the market is bifurcated into bathroom safety supplies, ambulatory aids, scooters, wheelchairs, mechanical and transfer equipment, medical beds, and others. Of these, the ambulatory aids segment was valued for more than $7 billion in 2019 and is likely to foresee tremendous growth over the coming years as the demand for walking aids is increasing across hospitals worldwide, especially due to the ongoing COVID-19 pandemic. Ambulatory aids comprise devices such as walkers and canes. Ambulatory aids, also known as walking aids, are among the numerous devices used by patients to increase their balance while moving independently, in an effort to enhance their walking patterns post-surgery or trauma.
With reference to application, the market is classified into mobility assistance, acute and critical care, long term care, fall prevention, and others. Of these, in 2019, the long term care segment held a crucial industry share of approximately 20%. The segment is forecast to register a remunerative growth trend through the analysis timeframe. This projected growth is ascribed to the steadily increasing amount of geriatric population. Long term care is especially offered to the aging population to offer better care as people start to lose their motor skills with age.
With respect to end-use, the market is categorized into hospitals, home care settings, elderly care facilities, and others. The hospital segment is projected to observe a CAGR of about 2% through the threshold timeframe. The segment growth is ascribed to the increasing number of coronavirus patients globally, who need critical care. The segment is also slated to foresee significant development due to the advanced healthcare infrastructure.
Major market players are making active efforts to expand their respective footprint beyond their regional boundaries. Investment rounds, collaborations, and acquisitions are a few of the techniques these firms utilize. Citing an instance, in July 2019, Etac, an international mobility, handling, and moving equipment supplier reportedly purchased a majority shares in HoverTech International, a US-based provider of patient handling technologies expand its footprint in North America.
The competitive landscape of the patient handling equipment market is inclusive of players such as Antano Group, Drive Medical, Ossenberg, Prism Medical, Handicare, HoverTech International, Joerns Healthcare, LINET, Stiegelmever, Guldmann, Hill Rom Services, Invacare, Stryker, and Getinge among
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Partial Chapter of the Table of Content
Chapter 5. Patient Handling Equipment Market, By Application
5.1. Key segment trends
5.2. Acute & critical care
5.2.1. Market size, by region, 2015 – 2026 (USD Million)
5.3. Long term care
5.3.1. Market size, by region, 2015 – 2026 (USD Million)
5.4. Mobility assistance
5.4.1. Market size, by region, 2015 – 2026 (USD Million)
5.5.1. Market size, by region, 2015 – 2026 (USD Million)
Chapter 6. Patient Handling Equipment Market, By End-use
6.1. Key segment trends
6.2.1. Market size, by region, 2015 – 2026 (USD Million)
6.3. Home care settings
6.3.1. Market size, by region, 2015 – 2026 (USD Million)
6.4. Elderly care settings
6.4.1. Market size, by region, 2015 – 2026 (USD Million)
6.5.1. Market size, by region, 2015 – 2026 (USD Million)