Patient Handling Equipment Market | Business Opportunities 2020 | Arjo, Invacare, Hill-Rom Holdings Key Players
According to the new market research report “Patient Handling Equipment Market by Type (Wheelchairs, Mobility Scooters, Medical Beds (Electric Beds), Patient Transfer Device (Lift (Ceiling Lifts), Slings, Slide Sheets), Stretchers), End User (Hospitals, Home Care settings) – Global Forecast to 2024“, published by MarketsandMarkets™, the Patient Handling Equipment Market is projected to reach USD 12.6 billion by 2024 from USD 8.9 billion in 2019, at a CAGR of 7.2% during the forecast period.
The growth of this market is largely driven by the rising geriatric population, high risk of injuries to caregivers during the manual handling of patients, and the implementation of regulations ensuring the safety of healthcare personnel during manual lifting processes. On the other hand, the persistent difficulties in handling bariatric patients are expected to limit market growth to a certain extent.
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The wheelchairs & mobility scooters segment is expected to account for the largest share of the mobility devices market in 2019
Based on type, the mobility devices market is segmented into wheelchairs & mobility scooters and ambulatory aids. The wheelchairs & mobility scooters segment is expected to account for the largest share of the mobility devices market. The increasing geriatric, obese, and disabled population is the key factor contributing to the growth of this market. This includes patients suffering from chronic and degenerative diseases such as heart diseases, cancer, and diabetes, all of which result in old-age disability. Similarly, being obese increases the likelihood of a person suffering from related co-morbidities that make it difficult to perform day-to-day tasks without assistance.
Browse in-depth TOC on “Patient Handling Equipment Market“
102 – Tables
23 – Figures
160 – Pages
Hospitals are the largest end users of patient handling equipment
Based on end user, the patient handling equipment market is segmented into hospitals, home care settings, and other end users (elderly care facilities, emergency medical services, long-term acute care centers, trauma centers, and nursing homes). The hospitals segment is expected to account for the largest share of this market in 2019. The large share of this segment is primarily attributed to the growing patient population, rising geriatric population, growing number of disabled people, increasing number of injuries caused during the patient handling process, and the increasing preference for patient handling equipment over manual handling in hospitals.
Europe will continue to dominate the patient handling equipment market during the forecast period
On the basis of region, the patient handling equipment market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World (RoW). In 2019, Europe is expected to account for the largest share of this market, followed by North America. The large share of this regional segment is attributed to the growing number of government and non-government initiatives regarding the adoption of safe patient handling equipment, wide acceptance of a “no-lift” approach in European countries, and the presence of a large number of equipment manufacturers in Europe.
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The major players in the patient handling equipment market include Arjo (Sweden), Hill-Rom Holdings (US), and Invacare (US).
Arjo is the leading player in the patient handling equipment market. The company offers a broad range of patient handling equipment that ensures safe, comfortable, and dignified patient transfer. The company is expected to grow at a high rate in the patient handling market during the forecast period, owing to a strong geographic presence, product innovation, robust brand image, wide distribution network, and continuous expansions in developed and developing regions. Arjo focuses on expanding its presence in the patient handling equipment market with the adoption of organic and inorganic growth strategies.
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