Patient Handling Equipment Market Analysis And Forecast To 2031: By Product (Wheelchairs and Scooters, {Manual Wheelchair [Folding Frame Manual Wheelchairs, Rigid Frame Manual Wheelchairs], Powered Wheelchair, Mobility Scooters}, Medical Beds {Acute Care Beds, Long Term Care Beds, Bariatric Beds}, Mechanical Lifting & Transfer Equipment, Ambulatory Aid Devices, Bathroom Safety Supplies), By Application (Acute & Critical Care, Long Term Care, Mobility Assistance, Fall Prevention), By End-use (Hospitals, Home Care Settings, Elderly Care Settings), And Region
The global patient handling equipment market was valued at USD 23.2 billion in 2021 and it is anticipated to grow up to USD 44.7 billion by 2031, at a CAGR of 6.8% during the forecast period.
Patient handling equipment are used for patients that require physical assistance, as well as for people under medication or illness. The patient handling equipment are generally used at hospitals, home care settings, elderly care facilities and rehabilitation centre among others. The patient handling equipment ensures the safety of doctors as well as caregivers while handling patients. Moreover, it also reduces the possibility of patient injuries,
Market Trends and Drivers
Rising incidence of disabilities upsurges the business progression. The increasing disabled population across the globe drives the adoption of patient handling equipment. According to the WHO, in 2019, around 15% of the world’s population lives with a certain form of disability, and amongst them 2% to 4% experience difficulties in functioning. The number of disabled people is escalating due to rapid spread of chronic diseases. Disabled people need patient handling equipment to carry out their daily activities smoothly. The rising cases of disability will significantly propel patient handling equipment market growth over the analysis period. Furthermore, due to the COVID-19 outbreak, there is a drastic rise in the demand for medical beds across the globe. The increasing corona cases across the globe are forcing governments of developed and emerging countries to increase their patient handling capacities. The public health systems are providing funds to procure the required hospital infrastructure with medical beds that are one of the important requirements. The upsurge in fundraising for associated with patient handling equipment are some other major factors that will positively impact on the market growth.
Market Restraints and Challenges
Lack of training provided to caregivers for the efficient operation of patient handling equipment may impede the industry growth. Effective training programs need to be implemented to create awareness regarding safe patient handling and to enable caregivers to efficiently operate transfer devices. Training plays a crucial role while lifting patients with special conditions, such as patients with pressure sores or burns, as well as bariatric patients. Owing to the cost-cutting initiatives being implemented in hospitals across several developing and developed countries, a limited number of training sessions (in terms of effective handling of patients) are being provided to caregivers. This is because the initial cost of equipment and maintenance is high, which also includes training costs, and most healthcare institutions cannot afford patient handling equipment as per the requirement. In the case of inadequate training, caregivers may gradually shift to manual handling as they have a better understanding of manual handling techniques and may find the use of patient lifting equipment cumbersome. This will affect the adoption of patient handling equipment to some extent.
Global Patient Handling Equipment Market Segmental Overview
The report analyses the global patient handling equipment market based on Product, Application, End-use and Region.
Global Patient Handling Equipment Market by Product
Based on product, it is segmented into wheelchairs and scooters, medical beds, mechanical lifting & transfer equipment, ambulatory aid devices, bathroom safety supplies and others. Among these, the wheelchairs and scooters segment accounted for significant market share in 2021. Wheelchairs and scooters cover manual wheelchair, powered wheelchair, and mobility scooters. The rising number of accidental injuries resulting in disabilities will upsurge the demand for wheelchairs and scooters. Additionally, people of age 65 and above are more prone to injuries and fall as compared to other age groups. This age group generally requires wheelchairs and scooters for enhanced safety, thereby driving segmental growth. Moreover, the growing geriatric population will further escalate the demand for wheelchairs and scooters. Since countries like Germany and Italy have a high percentage share of the population aged 60 and older, these countries are worst affected by COVID-19. The patient handling equipment demand has increased significantly in a way that several medical bed manufacturers have ramped up the production to meet the soaring market demand.
Global Patient Handling Equipment Market by Application
Based on application, it is segmented into acute & critical care, long term care, mobility assistance, fall prevention and others. Among them, the acute & critical care segment is expected to experience the fastest growth rate during the forecast period. The increasing population suffering from chronic disorders such as myocardial infarction and stroke will drive the segmental growth during the forecast period. Moreover, rising number of patient admissions due to increasing prevalence of chronic disease drives segmental growth. Furthermore, adoption of innovative technologies for acute & critical care patient handling will further drive the overall market growth.
Global Patient Handling Equipment Market by End-use
Based on End-use, it is segmented into hospitals, home care settings, elderly care facilities and others. Among them, hospital segment is expected to experience the fastest growth rate during the forecast period. Rising number of patients requiring critical care in hospitals along with advanced healthcare infrastructure will boost the segmental growth during the forecast period. Hospitals provide technologically advanced patient handling equipment including, ICU beds, sling lifts, transfer chairs, slide boards, etc. Thus, increasing demand for technologically advanced patient handing instruments will drive the market growth.
Geographical Analysis of Global Patient Handling Equipment Market
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America held the largest share in the market largely due to the advanced healthcare infrastructure and increasing prevalence of chronic diseases. As per the UN statistics, in 2017, the number of elderly populations aged 60 years and above is expected to increase from 78.5 million in 2017 to 123.9 million in 2050. Thus, the growing population with disability increases the need for patient handling equipment, thereby fostering the business growth. The presence of major industry players along with well-established and advanced healthcare facilities will propel the U.S. market growth. Moreover, availability of well-trained nursing staff in the U.S. will propel the regional market expansion..
Major Players in the Global Patient Handling Equipment Market COVID-19 Impact
The impact of COVID-19 on the patient handling equipment industry is observed to be positive. The COVID-19 pandemic had a positive impact on the patient handling equipment market, and the market is expected to witness exponential growth in the coming years. COVID-19 is an infectious disease caused by the SARS CoV-2 virus. Most people who fall sick with COVID-19 will experience mild to moderate symptoms and recover at home, but some require serious medical attention. During this period, the overall growth of various sectors has been heavily impacted. Industries such as hospitality, oil & petroleum, and aeronautics are experiencing a steep fall in revenues while industries such as healthcare, pharmaceutical, and biotechnology are using this situation to serve a maximum number of patients and hospitals.
The pandemic has led to a significant increase in the demand for patient handling solutions for efficient treatment and care. According to the CDC, in January 2021, approximately 69.8 per 100,000 people were hospitalized in the age group of 65 and above. Such a high rate of hospitalization has increased the demand for medical beds in hospitals as many hospitals and healthcare centers were out of beds for COVID-19 treatment and or other chronic diseases associated with it like lung diseases. These requirements have triggered the demand for patient handling equipment for enhanced safety and to reduce the risk of injuries while treating patients. The demand and adoption of patient handling equipment have been constant throughout the pandemic. Some of the foremost players in the patient handling equipment market grew organically with the surge of COVID-19.
Recent Developments
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