Market Dynamics and Competitive Strategies in the Patient Handling Equipment Industry

The report "Patient Handling Equipment Market by Type (Patient Transfer Devices (Lifts , Sliding Sheets), Medical Beds (Electric, Manual), Mobility Devices (Powered Wheelchairs, Mobility Scooters), End User (Hospitals, Home-care Settings) - Global Forecast to 2027", is projected to reach USD 14.0 billion by 2027 from USD 10.4 billion in 2022, at a CAGR of 6.2%.
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.
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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).
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.
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.
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.