Northbrook, IL -- (SBWIRE) -- 10/08/2020 -- According MarketsandMarkets Research - The Patient Lateral Transfer Market is expected to reach USD 446.2 billion by 2025 from USD 288.7 billion in 2020, at a CAGR of 9.1% during the forecast period of 2020 to 2025.

Market Growth Opportunities: Growing demand of home health care services;

Globally, an increasing number of government regulations are being implemented for reducing the duration and cost involved in healthcare treatments. For instance, the Centers for Medicare and Medicaid Services (CMS) has implemented steps to provide incentives to healthcare providers for reducing hospitalization costs. Under this initiative, the CMS is promoting healthcare settings such as nursing homes and approaches such as home healthcare as they can provide quality care at reduced costs (as compared to the cost of hospitalization).

Homecare settings are expected to account for 28.3% of the patient handling equipment market in the US. Owing to this, private nursing institutions and geriatric care homes have become highly viable end-user segments in the US. market. This will eventually increase opportunity for home healthcare services in patient lateral transfer market

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The regular air-assisted transfer mattress segment will dominate the air-assisted lateral transfer.

Based on type, the air-assisted lateral transfer mattresses market has been segmented into regular, split-leg, and half mattresses. In 2019, the regular mattresses segment accounted for the largest market share. The large share of this segment can primarily be attributed to their wide range of benefits and high usage in a variety of settings, such as critical care and emergency settings and operation theaters.

Hospitals are the largest end users of patient lateral transfer market.

Based on end users, segmented into hospitals, ambulatory surgery centers, and other end users. Hospitals accounted for the largest share of the patient lateral transfer market in 2019. This can be attributed to many patient admissions in hospitals, rising prevalence of various chronic conditions, and growing regulatory norms to use safe patient transfer equipment.

Recent Developments in Industry;

- In April 2020, Handicare divested its Patient Handling Europe business to Direct Healthcare Group (UK).

- In February 2020, Sizewise signed an agreement with LINET (Europe).

- In January 2020, MedLine acquired Medi-Select (Canada), a distributor of medical and dental supplies.

- In May 2019, Handicare signed an agreement to divest its distributor of medical consumables- Puls AS to Mediq International BV

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The patient lateral transfer market is divided into five regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. These regions are further analyzed at the country levels. North America held the largest share of the patient lateral transfer market in 2019, followed by Europe and the Asia Pacific. The Asia Pacific market is projected to grow at the highest CAGR during the forecast period. The Asia Pacific market is primarily driven by the increasing awareness regarding the benefits of safe patient handling, the presence of a large population base, growth in the geriatric population, and the rising prevalence of chronic diseases.

Some of the prominent players in this market are Stryker Corporation (US), Hill-Rom Holdings, Inc. (US), Sizewise (US), Arjo (Sweden), Haines Medical Australia (Australia), Handicare (Sweden), Medline Industries, Inc. (US), AliMed (US), and Airpal Inc. (US).