Global Patient Lifting Equipments Market Overview, 2023-28

Global Patient Lifting Equipments Market Overview, 2023-28

Patient lifting equipment is used to safely and securely transport patients from one location to another and has seen an increase in demand in recent years due to the rising rate of hospitalization. The growing prevalence of impairments is driving the worldwide patient lifting equipment market. Individuals around the world are progressively suffering from mobility-impairing illnesses and conditions such as osteoarthritis, osteoporosis, fractures, paralysis, and obesity. The increased prevalence of disabilities boosts the need for patient handling equipment since it aids in the resolution of mobility challenges, which promotes market growth. Furthermore, developments in the design and technology of patient technology handling equipment are having a favorable impact on the market. Technological developments and improvements in the design of patient handling equipment make it easier for healthcare practitioners to use and increase patient comfort, causing a number of end-users to adopt it and invest in the market. The patient lifting equipment market is being driven by a rise in the number of accidents or misfortunes of disability in urban towns and cities. Disability is a complex disorder that involves both an individual's own health and environmental circumstances. It is a catch-all phrase for restrictions on participation, disability, and activity constraints. According to the World Health Organization (WHO), around 15% of the world's population is disabled. People with disabilities face numerous challenges in areas such as healthcare, education, work, and social services. People with impairments are less likely to seek health-care services, resulting in unmet health-care needs. The growth in disability owing to chronic diseases, falls, violence, injuries, accidents, and aging. The educator teaches old skills, and the absence of proper lifting equipment utilization is impeding worldwide market growth. As there are numerous myths about patient handling, such as patients are not comfortable with mechanical lifting and it takes less time to manually lift a patient than to use lift equipment, the use of patient lifting equipment is limited, limiting the market's growth.

According to the research report, “Global Patient Lifting Equipment Market Overview, 2023-28” published by Bonafide Research, the market is anticipated to cross USD 6 Billion by 2028, increasing from USD 4.42 Billion in 2022. The market is expected to grow with more than 6% CAGR by 2023-28. The growing geriatric and bariatric populations around the world are likely to drive significant demand for mobility devices. A rising number of accidents and musculoskeletal problems are also expected to boost the total patient lifting equipment market potential throughout the forecast period. Other variables that may boost patient lifting equipment market potential include increased government investments in healthcare infrastructure around the world, the application of strong patient safety standards, and the rising prevalence of chronic diseases. Providers of patient lifting equipment are focusing on the launch of new goods in order to boost their income generation capacity and acquire a competitive advantage over other market participants. Suppliers of patient lifting systems might also explore mergers, acquisitions, partnerships, and collaborations to improve their market presence and overall market share. The COVID-19 epidemic had a significant influence on the patient lifting equipment market at first. The severe lockdowns and government rules enacted to slow the spread of COVID-19 resulted in fewer hospital admissions. Thus, the COVID-19 outbreak had a substantial impact on market growth in its early stages; however, the market gained traction in the post-pandemic period, with the supply chain of devices returning to normal, and it is predicted to have stable growth during the forecast period. Furthermore, new product launches and strategic efforts by prominent market competitors are positively influencing market growth. AmeriGlide, a leading stair lift manufacturer, for example, will unveil the AmeriGlide UP Stair Lift in July 2021. The new stair lift has novel features that ensure the patients' safety while using it. As a result of such product releases and partnerships, the market under consideration is predicted to grow significantly throughout the forecast period.

The Asia-Pacific region is witnessing a significant surge in the patient lifting equipment industry, and this growth can be attributed to a combination of demographic shifts, increasing healthcare awareness, economic development, and the ongoing impact of the COVID-19 pandemic. One of the primary drivers of this growth is the rapidly aging population across several countries in the region, such as Japan, China, and South Korea. As these nations undergo demographic transitions, there is a marked increase in the number of elderly individuals who often face mobility challenges. This demographic trend has resulted in a growing demand for patient lifting equipment to facilitate safe and efficient patient handling in various healthcare settings, ranging from hospitals to long-term care facilities and even home care environments. Furthermore, the rising awareness of the importance of patient safety and the adoption of advanced healthcare practices are contributing to the increased uptake of patient lifting solutions. Healthcare facilities in the Asia-Pacific region are recognizing the crucial role that patient lifting equipment plays in ensuring the well-being of both patients and caregivers. As a result, there has been a notable shift towards investing in modern and technologically advanced patient lifting solutions that not only enhance the quality of patient care but also contribute to the overall efficiency of healthcare services. Economic development in the Asia-Pacific region has led to an expanding middle class and increased disposable income, creating a greater capacity for healthcare spending. This economic growth has translated into higher investments in healthcare infrastructure and medical equipment, including patient lifting devices. The availability of financial resources enables healthcare facilities to adopt sophisticated and innovative patient lifting technologies, driving the growth of the industry in the region.

The growth of bath and pool lifts within the patient lifting equipment industry can be attributed to an increasing recognition of the importance of inclusive and comprehensive patient care. These specialized lifting solutions cater to individuals with limited mobility, particularly those who face challenges in bathing and aquatic activities. The aging global population and a growing awareness of the needs of individuals with disabilities or mobility impairments have driven the demand for bath and pool lifts. These lifts are designed to facilitate safe and dignified transfers of patients in and out of baths or pools, providing not only essential hygiene care but also contributing to the overall well-being and quality of life for individuals with mobility constraints. The expansion of home healthcare and the emphasis on enabling individuals to age in place have further fueled the demand for bath and pool lifts. As more individuals seek to maintain their independence and stay in their homes as they age, the need for assistive devices that address specific activities of daily living, such as bathing, becomes paramount. Bath and pool lifts not only assist patients but also ease the burden on caregivers, reducing the risk of injuries associated with manual lifting and transfers. Moreover, the therapeutic benefits of aquatic activities for rehabilitation and physical well-being have garnered attention in the healthcare industry. Bath and pool lifts enable individuals with limited mobility to access water-based therapies, aiding in rehabilitation, muscle strengthening, and improving overall health. This dual functionality of promoting both hygiene and therapeutic interventions contributes to the growing popularity of bath and pool lifts within the broader landscape of patient lifting equipment. In addition, stringent safety regulations and standards in healthcare settings have prompted the adoption of specialized lifting equipment to ensure compliance. Bath and pool lifts are designed with a focus on safety features, such as secure harness systems, sturdy construction, and waterproof components, making them suitable for use in aquatic environments. This emphasis on safety aligns with the overarching goal of enhancing patient care and minimizing the risk of accidents during transfers, particularly in water-related activities.

The growth of homecare within the patient lifting equipment industry is reflective of a broader shift towards decentralized healthcare delivery and an increasing recognition of the benefits of providing medical assistance within the comfort of one's home. Homecare has witnessed a remarkable surge due to several interconnected factors. Firstly, the aging population globally is driving the demand for patient lifting equipment that can be seamlessly integrated into home environments. As individuals prefer to age in place and receive care within familiar surroundings, the need for patient lifting solutions suitable for home use has grown significantly. Homecare not only promotes independence and a higher quality of life for individuals with mobility challenges but also reduces the burden on overcrowded healthcare facilities. Furthermore, advancements in medical technology and the development of more compact, user-friendly patient lifting equipment have facilitated the feasibility of home-based care. Innovations in portable and easily deployable lifting devices allow caregivers and family members to assist with patient transfers and mobility within domestic settings. This adaptability aligns with the broader trend of patient-centered care, emphasizing personalized solutions that cater to individual needs and preferences. The COVID-19 pandemic has further accelerated the growth of homecare in the patient lifting equipment industry. The emphasis on reducing hospital visits and minimizing exposure to healthcare facilities has prompted a greater reliance on home-based care solutions. Patient lifting equipment plays a pivotal role in enabling caregivers to provide essential assistance without the need for frequent hospital trips, ensuring continuity of care while mitigating the risk of infection. Moreover, as healthcare systems globally face increasing pressure and rising costs, homecare presents a cost-effective alternative. Investing in patient lifting equipment for home use can lead to long-term cost savings by preventing unnecessary hospital admissions and reducing the strain on healthcare resources. This economic consideration, coupled with the desire for patient-centric care models, has contributed to the growing popularity of homecare solutions within the patient lifting equipment industry.

The expansion of the child category within the patient lifting equipment industry can be attributed to a heightened awareness of the unique needs of pediatric patients with mobility challenges, disabilities, or medical conditions. As medical advancements have improved the survival rates and outcomes for children with complex health issues, there is an increasing focus on enhancing the quality of life and ensuring optimal care for this vulnerable demographic. The growing prevalence of congenital disorders, neuromuscular conditions, and other pediatric disabilities has underscored the need for specialized patient lifting equipment tailored to the smaller size, weight, and unique requirements of children. The child category's growth is also a reflection of evolving healthcare practices that emphasize family-centered care and the importance of creating a supportive environment for pediatric patients. Homecare for children with chronic conditions or disabilities has gained prominence, driven by the belief that children fare better when surrounded by their families in familiar settings. Consequently, there is a rising demand for patient lifting equipment designed specifically for pediatric use, enabling parents and caregivers to provide the necessary assistance for transfers, mobility, and activities of daily living. Moreover, the recognition of the psychosocial impact of mobility challenges on pediatric patients has played a role in the industry's expansion. Pediatric patients often face unique emotional and developmental considerations, and appropriately designed patient lifting equipment contributes to maintaining their sense of independence, dignity, and comfort. Manufacturers have responded by developing lifting solutions with child-friendly designs, vibrant colors, and safety features that cater to the specific needs of pediatric users. In recent years, there has been a growing advocacy for inclusive healthcare practices that address the needs of pediatric patients comprehensively. Pediatric patient lifting equipment is not only essential for transferring children safely but is also integral to supporting their overall growth and development. The expansion of this category aligns with the broader trend towards a more patient-centric and family-oriented approach in healthcare, ensuring that children with mobility challenges receive the specialized care they deserve.

Major Driver

• Healthcare Facility Modernization and Infrastructure Investments: The ongoing trend of healthcare facility modernization and increased infrastructure investments acts as a major driver for the global patient lifting equipment market. As healthcare systems strive to enhance the quality of patient care and safety, there is a growing focus on upgrading and expanding healthcare infrastructure. New and renovated healthcare facilities are increasingly integrating state-of-the-art patient lifting equipment to improve operational efficiency and provide better care. Modern facilities are investing in innovative solutions that not only meet current patient handling needs but also align with future healthcare trends. This driver highlights the interconnected relationship between advancements in healthcare infrastructure and the demand for cutting-edge patient lifting technologies, positioning the market for sustained growth.

• Growing Awareness of Healthcare Worker Safety and Well-being: A significant driver for the global patient lifting equipment market is the increasing awareness of healthcare worker safety and well-being. Healthcare professionals, including nurses and caregivers, face a high risk of musculoskeletal injuries due to the physical demands of lifting and transferring patients. The awareness of these occupational hazards has led to a greater emphasis on implementing patient lifting equipment to reduce the physical strain on healthcare workers. Hospitals and healthcare facilities are recognizing the importance of investing in lifting solutions that prioritize the safety and health of their staff. This driver aligns with a broader global movement towards improving working conditions in the healthcare sector, promoting a culture of safety, and enhancing the overall quality of patient care.

Major Challenge

• Regulatory Compliance and Certification: A critical challenge faced by the global patient lifting equipment market is the complex landscape of regulatory compliance and certification requirements. Patient lifting devices must adhere to stringent standards and regulations to ensure their safety, efficacy, and reliability. Navigating this regulatory landscape can be arduous for manufacturers, often resulting in delays in product launches and increased compliance costs. Additionally, healthcare providers face challenges in selecting equipment that meets the necessary regulatory requirements for their specific healthcare settings. As the healthcare industry evolves, the need for more streamlined and harmonized regulatory frameworks becomes crucial to facilitate the development, adoption, and deployment of patient lifting equipment on a global scale.

• Limited Reimbursement Policies for Patient Lifting Equipment: A considerable challenge affecting the global patient lifting equipment market is the limited reimbursement policies for these devices. In many healthcare systems, reimbursement policies may not adequately cover the costs associated with the purchase and maintenance of patient lifting equipment. This financial barrier can deter healthcare facilities from investing in advanced lifting solutions, particularly in regions where budget constraints are prevalent. To overcome this challenge, there is a need for policymakers and healthcare payers to reassess reimbursement structures, acknowledging the long-term benefits of patient lifting equipment in terms of reducing workplace injuries, improving patient outcomes, and optimizing overall healthcare efficiency.

Major Trend

• Shift towards Home Healthcare and Portable Solutions: An emerging trend influencing the global patient lifting equipment market is the shift towards home healthcare and the development of portable solutions. With a growing preference for home-based care, there is an increasing demand for patient lifting equipment that is not only effective in healthcare facilities but is also adaptable to home environments. Portable and easily deployable patient lifting devices cater to the changing landscape of healthcare delivery, allowing individuals to receive necessary care in the comfort of their homes. This trend reflects a broader movement towards patient-centric care models and the recognition that mobility solutions need to be versatile and user-friendly across different care settings. Manufacturers are responding by innovating with compact, lightweight, and easy-to-use patient lifting solutions that can be seamlessly integrated into home healthcare practices.

• Customization and Personalization of Patient Lifting Solutions: An evolving trend in the global patient lifting equipment market is the increasing focus on customization and personalization of lifting solutions. Recognizing that patient needs and healthcare environments vary, manufacturers are developing adaptable and customizable lifting devices to cater to specific requirements. This trend aligns with the broader shift towards patient-centered care, acknowledging the diversity of patient conditions and preferences. Customizable patient lifting equipment allows healthcare providers to tailor solutions to individual patient needs, ensuring a more personalized and comfortable experience during transfers. As technology advances, the trend towards customization is likely to lead to the development of intelligent and adaptive lifting solutions that enhance the overall quality of patient care.

Covid-19 Impacts

The pandemic has put an unprecedented strain on healthcare systems globally. With a surge in COVID-19 patients requiring critical care, there has been an increased demand for patient lifting equipment in hospitals and other healthcare facilities. Patient lifting devices are essential for the safe and efficient transfer of patients, particularly those who are critically ill or require respiratory support. This heightened demand has underscored the importance of patient lifting equipment in pandemic response and preparedness. In the wake of the pandemic, there has been a heightened emphasis on infection prevention and control measures. Patient lifting equipment, being an integral part of patient care, has undergone changes to adhere to strict hygiene standards. Manufacturers have worked to design equipment with smooth surfaces that are easy to clean and disinfect. Additionally, there has been an increased adoption of disposable or easily sanitized slings and accessories to minimize the risk of cross-contamination. Like many industries, the patient lifting equipment sector has faced challenges in its supply chain and manufacturing processes due to disruptions caused by the pandemic. Lockdowns, restrictions on movement, and workforce shortages have led to delays in production and distribution. These challenges have affected the timely delivery of patient lifting equipment to healthcare facilities, impacting their ability to respond effectively to the surge in patient numbers. The economic fallout of the pandemic has led to financial constraints and budgetary pressures in the healthcare sector. While the demand for patient lifting equipment has increased, healthcare facilities may face challenges in allocating resources for such investments. This has influenced purchasing decisions, with a focus on cost-effective solutions and a careful evaluation of the return on investment for patient lifting equipment. The pandemic prompted a rapid expansion of telehealth services and a greater emphasis on home-based care to minimize hospital visits. As a result, there has been an increased demand for patient lifting equipment suitable for home use. This shift in care delivery models has influenced manufacturers to develop more portable, user-friendly, and accessible patient lifting solutions that can be utilized in home care settings.

Competitive Landscape

The Patient Lifting Equipment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. Some of the major players operating in the Patient Lifting Equipment market are Baxter International Inc., GF Health Products, Inc., Etac AB, V. Guldmann A/S, Arjo, Invacare Corporation, Joerns Healthcare., Medline Industries, LP, Stryker Corporation, Sunrise Medical Inc., Savaria Corporation, linet, inc, Paramount Bed Co. Ltd, Winncare Group, Fluidra S.A and Direct Healthcare Group among others.

Considered in this report:

• Geography: Global
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report:

• Global Patient Lifting Equipment market Outlook with its value and forecast along with its segments
• Region-wise Patient Lifting Equipment market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Regions covered in the report

• North America
• Europe
• Asia-Pacific
• South America
• Middle-East & Africa

By Products

• Ceiling Lifts
• Stair Lift
• Mobile Lifts
• Sit-to-Stand Lifts
• Lifting Slings
• Bath & Pool Lifts
• Lifting Accessories

By End User

• Hospitals
• Homecare
• Elderly Care facilities
• Others

By Category

• Adult
• Pediatric

The approach of the report:

This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:

This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Patient Lifting Equipment, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

***Please Note: It will take 48 hours (2 Business days) for delivery of the report upon order confirmation.