Global Patient Handling Equipment Market Is Expected to Reach USD 21.46 Billion by 2027 : Fior Markets – GlobeNewswire

September 15, 2020 01:00 ET | Source: Fior Markets

Newark, NJ, Sept. 15, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global patient handling equipments market is expected to grow from USD 10.53 billion in 2019 and to reach USD 21.46 billion by 2027, growing at a CAGR of 9.31% during the forecast period 2020-2027.

The increasing chronic diseases and growing prevalence of the disabilities has led to the market growth. The geriatric population also needs assistance in mobility which is increasing the demand for patient handling equipment in the elderly care facilities. Apart from this, the implementation of strict regulation by government of many regions has made it necessary to ensure the safety of the patients and medical staffs; which has accelerated the market growth on a global level.

The patient handling equipment comprises of various devices such as patient transfer devices, ambulatory devices, mobility devices, stretchers, etc. The function of these equipment is to assist the patient and health workers in operating. The patient handling equipment is used to maintain the hygiene of the patients and to reduce the chances of contamination. These equipment are less costly than retrofitting and also decrease the probability of any injuries. The care givers are benefitted from the mobility devices as it helps to transfer and move the patient conveniently inside the medical premises. The increased use of automation function has helped to save time of the medical staffs and provide comfort to the patients.

The increasing technological advancements have led to the acceptance of the patient handling equipment in diverse branches. These equipment are also used in critical surgeries such as cardiac surgeries and orthopaedic surgeries. It eases up the whole process and also provides relaxation to the patient. The rising healthcare expenditure has improved the quality of the equipment. However, the higher cost of these equipment and inability to integrate with the existing facilities has restricted the market growth. Also, the limited number of skilled professionals is impacting the market demand.

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Key players operating in the global patient handling equipments market include Invacare Corporation, GF Health Products, Arjo, Hill-Rom Holdings, Stryker Corporation, SM Scientific Instruments, Antano Group, Handicare, Joerns Healthcare, Ossenberg, Medline Industries Inc., Etac, Drive DeVilbiss Healthcare, Mangar Health, LINET, Prism Medical UK, Guldmann, EZ Way Inc., McAuley Medical, Savaria, Malvestio, AirPal, Inc., PARAMOUNT BED CO., LTD., Stiegelmeyer, Lojer Oy and others. The majority of the manufacturers present in the patient handling equipment market are keen to adopt specific expansionary strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships, in order to gain higher market shares and strengthen their position in the market. Hill-Rom Holdings and Stryker Corporations are some of the biggest manufacturers present in the global market of the patient handling equipment.

Medical beds segment dominated the market and held the largest market share of 26.81% in the year 2019 On the basis of the product segment, the global patient handling equipments market includes medical beds, wheelchairs and scooters, mechanical and non-mechanical equipment, ambulatory aids, sliding sheets, slings, patient lifts, mobility devices, stretchers and transport chairs and bathroom safety supplies. The medical beds further include manual beds, semi-electric beds and electric beds. The wheelchairs and scooters segment further includes powered wheelchairs, manual wheelchairs and mobility scooters. Medical beds segment dominated the market and held the largest market share of 26.81% in the year 2019. The demand for beds has increased owing to the growing patient population. The electric beds have better battery backup, friction reduction and provide ease of use; thus the demand for these beds have gone up.

Acute and critical care segment dominated the market and held the largest market share of 23.01% in the year 2019 On the basis of the care type segment, the global patient handling equipments market includes bariatric care, acute and critical care, wound care, fall prevention, lifting, transfer, neurologic care, orthopaedic care and rehabilitation. Acute and critical care segment dominated the market and held the largest market share of 23.01% in the year 2019. The growing chronic diseases have increased the demand for patient handling equipment. However, the wound care segment is expected to register the highest growth rate. The increasing technological advancement for the wound care management has resulted in increase in demand.

Hospitals dominated the market and held the largest market share of 37.90% in the year 2019 On the basis of the end user segment, the global patient handling equipment market includes hospitals, home care settings, elderly care facilities, nursing homes and others. Hospitals dominated the market and held the largest market share of 37.90% in the year 2019. The hospitals are increasingly adopting the patient handling equipment for improving the facilities. Also, the hospitals have been instructed to adhere to the safety guidelines by the government which is accelerating the demand for patient handling equipment.

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Regional Segment Analysis of the Patient Handling Equipment Market

On the basis of geography, the global patient handling equipment market is classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America region accounted for a significant market share of 39.11% in the year 2019. The growth in geriatric population is the primary factor for the increasing market demand. Additionally, the supportive initiative by the government, advance medical facilities and increasing awareness among the patient population is collectively contributing to the market growth. However, Asia-Pacific is expected to register a prospering market growth. The increasing elderly population and improving healthcare infrastructure are the market drivers.

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About the report: The global patient handling equipment market is analyzed on the basis of value (USD Billion), volume (Units), export (Units) and import (Units). All the segments have been analyzed on a global, regional, and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.

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Global Patient Handling Equipment Market Is Expected to Reach USD 21.46 Billion by 2027 : Fior Markets - GlobeNewswire