Global Patient Handling Equipment Market to Witness Impressive Growth, Revenue to Surge to USD 25.9 Billion by 2028 – Zion Market Research
The Global Patient Handling Equipment market accounted for USD 15.8 Billion in 2020 and is expected to reach USD 25.9 Billion by 2028, growing at a CAGR of around 6.1% between 2021 and 2028.
Patient handling may be a task with a high level of risk that has a noncritical injury and musculoskeletal chaos for patients and caregivers. Tasks of patient handling within the patient handling equipment market include numerous activities like lifting, shifting, relocating, ambulating patients, bathing patients on the bed, dressing patients, making occupied beds, limb holding, standing for an extended time, and other duties involved in patient handling. These tasks are required to be performed by nurses or caregivers within the hospital ER, diagnostics lab, OR, imaging departments, in-patients care units, and outpatient clinics. Therefore, nurses face the large danger of musculoskeletal injuries and disorders. Here, the patients handling equipment executes a serious part in controlling these musculoskeletal injuries and disorders.
The increasing disabled population across the world drives the adoption of patient handling equipment. Consistent with the WHO, in 2019, around 17% of the world’s population lives with a particular sort of disability, and amongst them 3% to 5% experience difficulties in functioning. The amount of disabled people is escalating owing to the rapid spread of chronic diseases. Disabled people need patient handling equipment to hold out their daily activities smoothly. The rising cases of disability will significantly propel patient handling equipment market growth over the analysis period.
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COVID-19 Impact Analysis
Besides, the COVID-19 outbreak, there's a drastic rise in the demand for medical beds across the world. The increasing corona cases across the world are forcing governments of developed and emerging countries to extend their patient handling capacities. The general public health systems are providing funds to acquire the specified hospital infrastructure with medical beds that are among the important requirements. The upsurge in fundraising related to patient handling equipment is another major factor that will positively impact the market growth. However, insufficient training to caregivers for accessing patient handling equipment and problems in manual handling of patients are a number of the factors which will hinder the market growth.
Growth Factors
The global patient handling equipment market is propelled thanks to the increase within the obese and geriatric population since these individuals are more apt to numerous persistent diseases. So, the obese and geriatric population needs care with security and ease. Furthermore, the newest promising machinery in the patient handling market and growing the occurrence of unrelieved diseases are expected to fuel the event of patients handling equipment market. Additionally, the patient handling equipment market is notably mounting due to the rising incidents of road accidents. Similarly, rising investments by various companies in developing countries alongside the newest promising technologies for patient handling are leading to the generation of novel prospects for the patient handling equipment market within the upcoming years.
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Segment Analysis Preview
Based on the product type, the worldwide patient handling equipment market is segmented into stretchers, bed frames, patient lifts, wheelchairs & scooters, etc. The bed frames market ruled the worldwide patient handling equipment market with over 50% of market share in 2017. The bed frames section from the worldwide patient handling equipment market is projected to rise at a CAGR of about 4.2% for the estimated period. The rationale behind this rise is claimed to be the towering requirement for bed frame equipment. The wheelchairs & scooters segment is claimed to be the second biggest segment within the patient handling equipment market. it's projected to rise at the evident expansion rate within the upcoming period.
Based on the end-user, the patient handling equipment market is segmented into the hospital, home care, and others. The hospital segment demonstrated remarkable dominance in global patient handling equipment market after the house care segment. The hospital segment from the worldwide patient handling equipment market is anticipated to rise at the topmost rate for the upcoming period. With rising home care service and therefore the requirement for the house care patient handling equipment, homecare segment is meant to exhibit major development within the upcoming period.
Regional Analysis Preview
The APAC market is estimated to grow at the very best CAGR during the forecast period. Factors like the increasing incidence of MSD-caused injuries to caregivers, growth within the elderly population, healthcare infrastructure improvements, and therefore the increasing prevalence of chronic diseases are the main factors driving market growth within the Asia Pacific. Several countries within the APAC have implemented policies for safe handling to stop caregiver injuries while transferring and lifting patients. Additionally, the general expansion of economies in India, China, and Southeast Asia has further compelled key industry players to take a position during this region due to the lucrative opportunities presented by this market.
Key Market Players & Competitive Landscape
The major players that are comprised in Patient Handling Equipment market are Hill-Rom Holdings Inc., Stryker Corporation, Getinge Group, Invacare Corporation, Guldmann Inc., Prism Medical Ltd., Joerns Healthcare LLC, LINET Group SE, Handicare, and Stiegelmeyer-Group are several dominating players in the global patient handling equipment market.
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