According to Report, the patient handling equipment market is expanding growth at a 15% CAGR during the forecast period 2021 to 2030 and is expected to reach US$ 28 billion by 2030.
The gaining traction from a number of factors such as rising geriatric population, high risk of injuries to caregivers as well as the patients during manual handling, increasing incidence of disabilities, and implementation of regulations pertaining to the safety at the healthcare facilities. On the other hand, the lack of skilled professionals to handle these equipment is hindering the market from attaining its true potential. Nevertheless, the vendors operating in the global patient handling equipment market are expected to gain new opportunities from private institutional nursing and the entry of several major players in domestic markets.
The healthcare industry is currently flourishing in a number of developed and emerging economies, and if the vendors operating in this market can formulate a way to train professionals to operate these equipment, the demand will be ideally met.
Rental Provisions Emerging as Market Trend to Create New Prospects
Rental provisions for patients requiring temporary lifts and slings have been envisaged to be one of the primary reasons for the rise in the demand for patient handling equipment in healthcare centers. The need to avoid the risk of developing musculoskeletal injuries to both patients and caregivers when manually lifting patients could be another factor augmenting the demand in the world patient handling equipment market.
Healthcare centers in developed nations could incentivize the adoption of patient handling equipment because of the high benefit to investment cost ratio. Patient handling equipment minimize the role of caregivers in patient assistance. Additionally, labor expenses could be directed to the purchase of patient handling equipment such as medical beds with assistive technology and patient lifts.
Worries about Return on Investment in Expensive Equipment Limit Adoption
With end users nervous about returns on investment in exorbitant technologically advanced equipment and low awareness among the general public, the international patient handling equipment market could see a fall in growth during the course of the forecast period. Furthermore, lack of regulatory and legal protocols for patient handling in emerging nations such as Sri Lanka and India has been foretold to hinder market growth in the coming years.
Nevertheless, there could be a rollout of new policies in favor of a healthcare system that is patient-centered because of rising pressure from international authorities. Moreover, high focus on implementing a decent work culture and improving patient care quality have been forecast to create promising opportunities in the international patient handling equipment market.
Medical Bed Segment Remains Most Prominent
Based on product-type, the market for patient handling equipment has been segment into wheelchairs, lifting slings, medical beds, ambulatory aids, and shower, bath, and toileting equipment. In 2020, medical bed segment was most profitable, and considering they are mandatory equipment for the caregivers and are readily invested on by the hospitals, the segment is expected to remain the most important throughout the forecast period. Moreover, a number of high-end super-specialty healthcare facilities are coming up, which are willing to invest on the latest products that enable their patients in bathing, walking, and toileting. Financially equipped patients in the urban parts of the world are also driven towards hospitals with modern facility, and thereby providing traction to the medical bed segment of the global patient handling equipment market. Curative care beds, long-term care beds, and psychiatric care beds are some of the sub-segments of the medical beds that are gaining demand across the world.
Europe Remains Highly Profitable Region
From geographical perspective, some of the most important regions for the patient handling equipment market are North America, Europe, and Asia Pacific. Among these, Europe held the leading position in 2020, and is likely to retain its top position throughout the forecast period, owing to robust healthcare infrastructure and government regulations in respective countries. By 2024, the Europe patient handling equipment market is estimated to be worth US$8.0 bn. On the other hand, the region of Asia Pacific, which resides some of the most promising emerging economies such as India, China, and Japan, are expected to turn into highly lucrative region towards the end of the forecast period. Growing popularity of medical tourism is also expected to favor the added demand for patient handling equipment from Asia Pacific.
ArjoHuntleigh (Getinge Group) is identified as the most prominent company currently operating in the global patient handling equipment market, although the report also picks out a few other notable players, such as V.Guldmann A/S, DJO Global, Hill-Rom Holdings, Inc., Invacare Corporation, Etac AB, Joerns Healthcare LLC, Permobil AB, Prism Medical, Stiegelmeyer & Co. GMBH, Stryker Corporation, Patterson Medical Holdings, Inc., and Sunrise Medical LLC.
Report Scope of the Patient Handling Equipment Market
|Market Size||US$ 28 Billion by 2030|
|Growth Rate||CAGR of 15% From 2021 to 2030
|Forecast Period||2021 to 2030|
|Fastest Growing Market||Asia Pacific|
|Companies Mentioned||V.Guldmann A/S, DJO Global, Hill-Rom Holdings, Inc., Invacare Corporation, Etac AB, Joerns Healthcare LLC, Permobil AB, Prism Medical, Stiegelmeyer & Co. GMBH, Stryker Corporation|
By End User
This report focuses on patient handling equipment market includes crucial information on market share, market size, and growth rate for the forecast period 2021 to 2030 at the global level, regional level and company level. From a global perspective, this report represents overall patient handling equipment market size by analyzing historical data and future prospect. The study highlights deep analysis on the major drivers of the market, restraints, and challenges to help the business owners, suppliers, and marketing personnel in planning effective strategies for the forecast period. This will help the business and manufacturers to lead the market and gain prominent position in future. The report also presents vital information through graphical representation on factors like table, charts, and statistics. The study includes drivers and restraints of the global patient handling equipment market.
The research not only conducts forecasts in terms of value, but also evaluates the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.
In order to understand and assess opportunities in this market, the report is categorically divided into five key sections on the basis of segments. The report analyzes the global market in terms of value (US$ dollers) and volume (Million Units).
The research report includes specific segments by region (country), by company, by all segments. This study provides information about the growth and revenue during the historic and forecasted period of 2017 to 2030. Every segment is further sub-segmented into several sub-segmented that are deeply analyzed by experts to offer valuable information to the buyers and market players. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Major Key Points Covered in Report:
Executive Summary: It includes key trends of the patient handling equipment market related to products, applications, and other crucial factors. It also provides analysis of the competitive landscape and CAGR and market size of the patient handling equipment market based on production and revenue.
Production and Consumption by Region: It covers all regional markets to which the research study relates. Prices and key players in addition to production and consumption in each regional market are discussed.
Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the Patient handling equipment market.
Market Segments: This part of the report discusses about product, application and other segments of the patient handling equipment market based on market share, CAGR, market size, and various other factors.
Research Methodology: This section discusses about the research methodology and approach used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.
The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2017 to 2030. These analyses will help the reader to understand the potential worth of investment in a particular region.
The report provides in-depth segment analysis of the global patient handling equipment market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the patient handling equipment market.
The report includes country-wise and region-wise market size for the period 2017-2030. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2017-2030.
This section of the report identifies various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The comprehensive report provides a significant microscopic look at the market. The reader can identify the footprints of the manufacturers by knowing about the global revenue of manufacturers, the global price of manufacturers, and sales by manufacturers during the forecast period of 2017 to 2019.
The analysts have provided a comprehensive analysis of the competitive landscape of the global patient handling equipment market with the company market structure and market share analysis of the top players. The innovative trends and developments, mergers and acquisitions, product portfolio, and new product innovation expected to provide a dashboard view of the market, ultimately providing the readers accurate measure of the current market developments, business strategies, and key financials.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users) and other segments.
The research methodology adopted by analysts for compiling the global patient handling equipment market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global patient handling equipment market.
The study objectives of this report are:
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