Patient Lifting Equipment - Market Insights, Competitive Landscape, and Market Forecast - 2030

Patient Lifting Equipment - Market Insights, Competitive Landscape, and Market Forecast - 2030

Patient Lifting Equipment Market By Product (Ceiling Lifts, Sit To Stand Lifts, Wheelchair Lifts, Mobile Lifts, Slings, Bath And Pool Lifts, And Others), Type (Manual, Electric, And Hydraulic), End-User (Hospitals & Clinics, Homecare, And Others), And Geography (North America, Europe, Asia-Pacific, And Rest Of The World) is expected to grow at a steady CAGR forecast till 2030 owing to the growing number of geriatric and obese population and rising number of injuries due to trauma

The global patient lifting equipment market is estimated to grow at a CAGR of 7.33% during the forecast period from 2024 to 2030. The demand for patient lifting equipment is primarily being boosted by the growing number of geriatric and obese population. Additionally, the growing incidence of injuries due to trauma is another key factor, which is contributing to the growth of the patient lifting equipment market during the forecast period from 2024 to 2030.

Patient Lifting Equipment Market Dynamics:

According to the data provided by the World Health Organization (WHO) (2024), in 2022 globally out of 8 people, 1 person was living with obesity. Furthermore, as per the same source in 2022, approximately 2.5 billion people were overweight and out of these 890 million people were living with obesity worldwide. Manually lifting or transferring bariatric patients poses significant risks of injury to both the patient and the healthcare providers. Patient lifting equipment mitigates these risks by providing mechanical assistance, ensuring safer handling, and reducing the risk of musculoskeletal injuries among caregivers. Thus, the growing prevalence of the bariatric population will drive the market for patient lifting equipment during the forecast years.

As per the data provided by the World Health Organization 2021, between 2015-2050, people falling between 60 years and above will be doubled from 12 – 22%, and will eventually reach 2.1 billion by the year 2050, globally. Moreover, by 2030, 1 in 6 people will age 60 years or above. Many elderly individuals experience decreased mobility due to age-related conditions such as arthritis, osteoporosis, and general muscle weakness. Patient lifts are essential for safely transferring and repositioning these individuals. Additionally, conditions like Parkinson's disease, stroke, and hip fractures are more common in the elderly and can severely impact their mobility, necessitating the use of patient lifts. Thus, the growing aging population will drive the market for patient lifting equipment.

However, high purchasing and maintenance expenses of the equipment in developing countries and lack of training for proper use of equipment are some of the key constraints that may limit the growth of the patient lifting equipment market.

Patient Lifting Equipment Market Segment Analysis:

Patient lifting equipment market by Product (Ceiling Lifts, Sit to Stand Lifts, Wheelchair Lifts, Mobile Lifts, Slings, Bath and Pool Lifts, and Others), Type (Manual, Electric, and Hydraulic), End-User (Hospitals & clinics, Homecare, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the product segment of the patient lifting equipment market, the mobile lifts category is estimated to grow at a significant CAGR in the patient lifting equipment market during the forecast period. This can be attributed to the various applications and advantages provided by the mobile lifts category. Mobile lifts can be easily moved from one location to another, making them versatile for use in different rooms or even different buildings within a healthcare facility. Additionally, these mobile lifts can be used in various environments, including hospitals, nursing homes, rehabilitation centers, and home care settings. Further, mobile lifts often come with various sling options that can be tailored to the patient's specific needs, ensuring a comfortable and secure fit. Furthermore, many mobile lifts are designed to be user-friendly, with intuitive controls making them accessible for caregivers of varying skill levels.

Therefore, owing to the above-mentioned factors, the mobile lift category is expected to register significant growth, thereby driving the growth of the overall patient lifting equipment market during the forecast period.

North America Is Expected To Dominate The Overall Patient Lifting Equipment Market:

North America is expected to account for the highest proportion of the patient lifting equipment market in 2023, out of all regions. This is due to the growing number of geriatric and obese population in the region. Additionally, the increasing incidence of injuries due to trauma, the presence of robust research and development initiatives, and a highly viable market in terms of product development, and launches are some of the key factors driving the growth of the patient lifting equipment market in North America.

As per the data provided by the Centers for Disease Control and Prevention 2024, it was stated that in the year 2022 obesity prevalence was higher than 20%, which accounts for more than 1 in 5 adults.

Additionally, according to the data provided by the Government of Canada 2020, about 1 in 4 Canadian adults, which accounts for (26.6%) are living with obesity. Thus, the rising obese population will create a demand for patient lift equipment thus driving the patient lifting equipment market in the North America region.

Further, various key product launches in the region are some of the other factors that are influencing the positive growth of the market in North America. For Example, in May 2022, Invacare Corporation launched its Birdie™ Evo XPLUS in the United States. The Birdie™ Evo XPLUS by Invacare Corporation is an innovative patient lift solution for the post-acute care setting.

Therefore, the factors mentioned above, are some of the important factors that are thereby responsible for driving the overall market for patient lifting equipment in North America during the forecast period.

Patient Lifting Equipment Market Key Players:

Some of the key market players operating in the patient lifting equipment market include Baxter, Invacare Corporation, Hill-Rom Holdings, Handicare, Medline Industries LP, Prism Medical UK, GF Health Products, V. Guldmann A/S, Stiegelmeyer, Inc., Joerns Healthcare, Savion, aacurat GmBH, Lifeway Mobility, Meden-Inmed, Vermeiren Group, Antano Group, Trautwein GmbH, Benmor Medical, USL Medical, and others.

Recent Developmental Activities In The Patient Lifting Equipment Market:

In September 2023, Invacare was granted a patent for a patient lift apparatus that includes a supporting frame, a boom portion, and a spreader element.

In November 2021, Benmor Medical, a prominent provider of patient lifting equipment, earned the ISO 14001 certification. This internationally recognized standard outlines the requirements for an effective environmental management system, enabling the identification, management, and control of environmental issues.

Key Takeaways From The Patient Lifting Equipment Market Report Study

Market size analysis for current patient lifting equipment market size (2023), and market forecast for 6 years (2024 to 2030)

Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years

Key companies dominating the patient lifting equipment market.

Various opportunities available for the other competitors in the patient lifting equipment market space.

What are the top-performing segments in 2023? How these segments will perform in 2030?

Which are the top-performing regions and countries in the current patient lifting equipment market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for patient lifting equipment market growth in the coming future?

Target Audience Who Can Be Benefited From This Patient Lifting Equipment Market Report Study

Patient lifting equipment product providers

Research organizations and consulting companies

Patient lifting equipment-related organizations, associations, forums, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Distributors and Traders dealing in patient lifting equipment

Various end-users who want to know more about the patient lifting equipment market and the latest technological developments in the patient lifting equipment market.

Frequently Asked Questions For The Patient Lifting Equipment Market:

1. What is meant by patient lifting equipment?

Patient lifting equipment refers to a range of devices and apparatus designed to assist in the safe and efficient lifting, transferring, and repositioning of patients with limited mobility. These devices are used in various healthcare settings, including hospitals, nursing homes, and rehabilitation centers, to ensure the safety and comfort of both patients and caregivers.

2. What is the market for patient lifting equipment?

The global patient lifting equipment market is estimated to grow at a CAGR of 7.33% during the forecast period from 2024 to 2030.

3. What are the drivers for the global patient lifting equipment market?

The patient lifting equipment market is slated to witness prosperity owing to factors such as the growing number of geriatric and obese population. Additionally, the growing incidence of injuries due to trauma is another key factor, which is contributing to the growth of the patient lifting equipment market during the forecast period from 2024 to 2030.

4. Who are the key players operating in the global patient lifting equipment market?

Some of the key market players operating in the patient lifting equipment market include Baxter, Invacare Corporation, Hill-Rom Holdings, Handicare, Medline Industries LP, Prism Medical UK, GF Health Products, V. Guldmann A/S, Stiegelmeyer, Inc., Joerns Healthcare, Savion, aacurat GmBH, Lifeway Mobility, Meden-Inmed, Vermeiren Group, Antano Group, Trautwein GmbH, Benmor Medical, USL Medical, and others.

5. Which region has the highest share in the global patient lifting equipment market?

North America is expected to dominate the overall patient lifting equipment market during the forecast period, 2024 to 2030. This is due to the growing number of geriatric and obese population in the region. Additionally, the increasing incidence of injuries due to trauma, the presence of robust research and development initiatives, and a highly viable market in terms of product development, and launches are some of the key factors driving the growth of the patient lifting equipment market in North America.