Northbrook, IL 60062 -- (SBWIRE) -- 07/26/2023 -- Patient Handling Equipment Market in terms of revenue was estimated to be worth $10.4 billion in 2022 and is poised to reach $14.0 billion by 2027, growing at a CAGR of 6.2% from 2022 to 2027 according to a new report by MarketsandMarkets™. The growth of this market is primarily fuelled by the growing number of obese and geriatric populations, high risk of injuries to healthcare providers during the manual handling of patients, rising number of patient admissions in hospitals, and the implementation of regulations and guidelines ensuring the safety of healthcare workers during the manual lifting. However, improper training provided to caregivers for the efficient operation of patient handling equipment is a major factor hampering the market growth.

The global patient handling equipment industry is expected to witness significant growth in the near future, mainly due to the increasing demand for safe and comfortable patient handling solutions. The increasing focus on patient safety and comfort, government initiatives for the provision of healthcare services, and rising awareness about the benefits of patient handling equipment are the key factors anticipated to propel the growth of the industry. Additionally, the rising demand for technologically advanced patient handling solutions and the introduction of new products with advanced features are further expected to drive the growth of the industry. Moreover, the increasing prevalence of chronic diseases, such as arthritis and osteoporosis, is anticipated to drive the demand for patient handling equipment.

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Browse in-depth TOC on "Patient Handling Equipment Market"

272 - Tables
42 - Figures
291 - Pages

Key Market Players:

The key players operating in the patient handling equipment market include include Arjo (Sweden), Baxter International Inc. (US), Savaria (Canada), Invacare Corporation (US), Stryker (US), Drive DeVilbiss Healthcare (US), Etac AB (Sweden), GF Health Products, Inc. (US), V. Guldmann A/S (Denmark), Joerns Healthcare LLC (US), Medline Industries, Inc. (US), Prism Medical UK Ltd. (UK), LINET (Czech Republic), Stiegelmeyer GmbH & Co. KG (Germany), Benmor Medical (UK), Malvetio Spa (Italy), EZ Way, Inc. (US), Ossenberg GmbH (Germany), Antano Group (Italy), Winncare (UK), Getinge AB (Sweden).

Drivers: Growing number of geriatric and obese populations

The number of people aged 60 and above has grown steadily over the years. The elderly population is more prone to fall-related injuries, which can lead to different types of functional disabilities and dependence on mobility equipment. According to the World Health Organization (WHO), by 2030, 1 in 6 people in the world will be 60 years of age or older. As a result, high growth in the geriatric population globally will drive the need for patient handling equipment.

Restraints: Lack of training provided to healthcare providers for the efficient operation of patient handling equipment

The healthcare providers spent a significant amount of time in patient handling operations across healthcare facilities. As a majority of time is spent on patient handling, it is important to implement effective training programs to create awareness regarding safe patient handling and to avoid any risk of injury during patient handling. Training plays an important role when lifting patients with special conditions, such as patients with pressure sores or burns, as well as bariatric patients.In the case of improper training, caregivers may gradually move to manual handling as they gain a better understanding of manual handling techniques and may find the use of patient lifting equipment cumbersome. This will hinder the adoption of patient handling equipment to some extent.

Opportunities: Increasing demand for home healthcare services

Globally, a rising number of government regulations and guidelines are being implemented to reduce the duration and cost of healthcare treatments. For instance, the Centers for Medicare and Medicaid Services (CMS) has implemented steps to promote nursing homes and home healthcare to decrease hospitalization rates. In general, providing care at a patient's home is more affordable than doing it in a facility, especially if the available informal care is well utilized. Moreover, with the rising number of new technologies, such as remote patient monitoring, the home care segment is expected to see significant growth in the upcoming years. The rising demand for home care will, in turn, increase the demand for equipment required for treating patients in home care settings, including mobility devices, patient transfer devices, and medical beds, in the upcoming years.
Patient transfer devices segment is expected to register the highest CAGR during the forecast period.
By type, the patient handling equipment market is segmented into medical beds, patient transfer devices, mobility devices, bathroom & toilet assist equipment, and stretchers & transport chairs. In 2021, the patient transfer devices is expected to register highest growth during the forecast period. The high share of this segment can primarily considered to the rising installation of ceiling lifts in hospitals and the rising adoption of patient lifts for bariatric patient handling.

Hospital segment accounted for the largest share in the patient handling equipment market in 2021
By end users, the patient handling equipment market is segmented into home care settings, hospitals, and other end users. In 2021, the hospitals segment accounted for the largest share of the patient handling equipment market. Growth can be attributed due to the rising number of patient population, rising number of disabled people, growing number of geriatric populations, and the increasing number of injuries caused during the patient handling.

Europe accounted for the largest share of the patient handling equipment market in 2021.

By region, patient handling equipment market is segmented into North America, Europe, Asia Pacific, Latin America and Middleeast and Africa. In 2021, Europe accounted for the largest share of the global patient handling equipment market. The large share of this market can be attributed due to the presence of large number of patient handling equipment manufacturers in Europe and the increasing number of government and non-government initiatives to adopt safe patient handling equipment. The Asia Pacific patient handling equipment market is expected to grow at the highest CAGR during the forecast period of 2022-2027. The Asia Pacific market growth is attributed to the increasing number of healthcare facilities in Asian countries.

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Recent Developments

- In September 2022, Handicare offers an expanded portfolio, including the Garaventa Lift range of wheelchair platform lifts, as well as new and improved products, such as the 4000 curved stairlifts.

- In May 2022, Invacare launched Birdie Evo XPLUS, an innovative patient lift solution for post-acute care settings. With its sleek and modern design, it provides innovative technology that helps maximize comfort and security when lifting or transferring a patient to or from a bed, chair or floor.

- In March 2022, Stryker launched the Multi-Position MATS Mobile Air Transfer System, that prevents patients from sliding during tilt procedures and protect nurses during pre- and post-surgical lateral transfers.

- In May 2021, Hill-Rom participated in the fire-side chat in the UBS Global Healthcare Virtual Conference to support its healthcare business.

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Patient Handling Equipment Market Advantages:

- Patient handling equipment helps in transferring the patient from one place to another.

- They allow for secure and safe transfer of the patient and reduce the chances of accidents.

- The equipment helps reduce the risk of injury to the caregiver who is transferring the patient.

- The equipment is designed to be lightweight and easy to maneuver.

- It helps reduce the physical strain on the caregiver as well as the patient.

- The equipment is available in different sizes, shapes, and configurations to suit different patient needs.
- The equipment helps reduce the risk of infections as it is easy to clean and sanitize.

- The equipment is cost-effective and helps reduce the overall cost of healthcare.

Patient Handling Equipment Market- Report Highlights:

Refinements in the segments of the patient handling equipment market:

- The current edition of the report consists of an updated market overview, along with updated market assessments across all segments from 2020 to 2027. Also, the updated industry trends, technology analysis, pricing analysis, and patent analysis have been provided in the market overview chapter.

- The current edition of the report consists of the impact of the recession on the market in the geographic analysis section.

- The competitive landscape chapter has been updated with the company evaluation quadrant for major players as well as for start-ups/SMEs. The competitive landscape also includes the revenue share analysis of the top players, market share analysis, and competitive scenarios of the global market.

- The current edition of the report considers an ongoing economic recession and provides an impact of the same in market sizing. Detailed qualitative insights for recession impact by region have been provided across the regional analysis section.