Patient Handling Equipment Market Worth $12.6 billion: Market Growth Projections and Development
This report aims to provide detailed insights
into the global safe patient
handling equipment market. It provides valuable information on
the type, procedure, application, and region in the market. Furthermore, the
information for these segments, by region, is also presented in this report.
Leading players in the market are profiled to study their product offerings and
understand the strategies undertaken by them to be competitive in this market.
Expected
Revenue Growth:
The Patient Handling Devices Market is projected to reach USD 12.6 billion by 2024
from USD 8.9 billion in 2019, at a CAGR of 7.2% during the
forecast period.
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Key Factors Driving Market Growth:
The growth of patient handling devices market is largely driven by the rising
geriatric population, high risk of injuries to caregivers during the manual
handling of patients, and the implementation of regulations ensuring the safety
of healthcare personnel during manual lifting processes. On the other hand, the
persistent difficulties in handling bariatric patients are expected to limit
market growth to a certain extent.
The wheelchairs & mobility scooters segment is expected to
account for the largest share of the mobility devices market in 2019
Based on type, the mobility devices market is segmented into wheelchairs &
mobility scooters and ambulatory aids. The wheelchairs & mobility scooters
segment is expected to account for the largest share of the mobility devices
market. The increasing geriatric, obese, and disabled population is the key
factor contributing to the growth of this market. This includes patients
suffering from chronic and degenerative diseases such as heart diseases,
cancer, and diabetes, all of which result in old-age disability. Similarly,
being obese increases the likelihood of a person suffering from related
co-morbidities that make it difficult to perform day-to-day tasks without
assistance.
Hospitals are the largest end users of patient handling equipment
Based on end user, the patient handling equipment market is segmented into
hospitals, home care settings, and other end users (elderly care facilities,
emergency medical services, long-term acute care centers, trauma centers, and
nursing homes). The hospitals segment is expected to account for the largest
share of patient handling devices market in 2019. The large share of this
segment is primarily attributed to the growing patient population, rising
geriatric population, growing number of disabled people, increasing number of
injuries caused during the patient handling process, and the increasing
preference for patient handling equipment over manual handling in hospitals.
Europe will
continue to dominate the patient handling equipment market during the forecast
period
On the basis of region, the patient handling devices market is segmented
into North America, Europe, the Asia Pacific, and
the Rest of the World (RoW). In 2019, Europe is expected to account for the
largest share of this market, followed by North America. The large share of this
regional segment is attributed to the growing number of government and
non-government initiatives regarding the adoption of safe patient handling
equipment, wide acceptance of a "no-lift" approach in European
countries, and the presence of a large number of equipment manufacturers
in Europe.
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The major players in the patient handling equipment market include Arjo (Sweden), Hill-Rom
Holdings (US), and Invacare (US).
Arjo is the leading player in the patient
handling devices market. The company offers a broad range of patient handling
equipment that ensures safe, comfortable, and dignified patient transfer. The
company is expected to grow at a high rate in the patient handling market
during the forecast period, owing to a strong geographic presence, product
innovation, robust brand image, wide distribution network, and continuous
expansions in developed and developing regions. Arjo focuses on expanding its
presence in the patient handling devices market with the adoption of organic
and inorganic growth strategies.
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