Patient Handling Equipment Market Size By Product (Wheelchairs and Scooters, Medical Beds, Bathroom Safety Supplies, Mechanical and Transfer Equipment, Ambulatory Aids, Others), By Application (Acute and Critical Care, Long Term Care, Mobility Assistance, Fall Prevention, and Others), By End-Use (Hospitals, Home Care Settings, Elderly Care Facilities, and Others) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Poland, China, India, Japan, Malaysia, Thailand, Australia, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE, Egypt), Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024
Published Date: October 2017 | 125 Pages | Report ID: GMI2142 | Report Format: PDF
Patient Handling Equipment Market size was over USD 9.8 Billion in 2016, with an expected forecast of over 11% CAGR from 2017 to 2024.
U.S. Patient Handling Equipment Market size, By Product, 2013-2024 (USD Million)
Patient handling equipment market is expected to witness significant growth due to growing acceptance of these equipment owing to their wide array of applications. Rising prevalence of disabilities and high adoption rate of these equipment to cater needs of patients has led their increased usage.
Favorable government legislations, launch of new innovative products, increased investment by the major players in research and development should escalate the industry growth. Furthermore, implementation of regulations against the manual lifting of patients such as Safe Patient Handling Policy in UK and other developed countries around world would aid in growth of the market.
Increasing incidence of disabilities and growing number of elderly population should serve as a high impact rendering aspect. The number of nurses suffering from musculoskeletal disorders due to manual lifting of patients have been growing at alarming rate. The demand for patient handling equipment should increase to serve this demand.
Patient Handling Equipment Market, By Product
Medical beds accounted for largest market share in 2016 and is projected to grow at 10.3% CAGR over the forecast period. Advancement in technology particularly in ICU beds, increased number of critical care patients, will attribute to the growth of the market. The technological advancement has led to patient care to be more individualized and patient specific which has increased the patient compliance and comfort.
Mechanical and transfer equipment will witness robust growth rate in the coming years. Several incidences have proved that use of mechanical lifts for patient have resulted in decreased musculoskeletal injuries in the caregivers which should be the major factor driving the growth of the market. Increasing adoption of mechanical lifts, slings and transfer boards in positioning of patient will boost the market in future.
Patient Handling Equipment Market, By Application
Mobility assistance segment held the largest market share in 2016 and is estimated to grow at robust growth rate in forecast period. The growing number of patient population needing assistance of walking aids and wheelchairs is expected to drive the market. Similarly, technological advancement in powered wheelchairs, increased reimbursement for the equipment will enhance the business growth. Associated benefits such as user friendly and easy to use features have contributed to increased adoption of these equipment.
Increased geriatric population globally will have led a way to increased need of the long-term care to cater to their demands. As life expectancy as well as the growth in number of older people is increasing it will thereby increase the number of injuries, falls, mental diseases. Patient handling equipment are helpful to provide comfort to these patients in their daily activities and should escalate industry growth.
Patient Handling Equipment Market, By End-use
Hospitals held the largest revenue share in 2016 and is projected to show similar trend over the forecast period. The increasing number of patient requiring critical care in hospitals will attribute to the growth of this market. A paradigm shift has been occurring where in patient are preferring home care settings over hospitals. This can be attributed to increased patient comfort and decreased cost due to which the home care settings segment will show fastest growth rate over the forecast period.
Patient Handling Equipment Market, By Region
Germany market accounted for largest regional share in 2016 owing to high geriatric population requiring assistance in addition with government support in the country. Germany has advanced technology for medical devices which is used to enhance the wellbeing and comfort of patients. For instance, Hill-Rom has manufacturing facilities in Germany, for production of Volker S 962-2 hospital bed, these beds are well equipped with special features which make them user friendly and increase patient independence.
U.S market accounted for largest share in 2016, the major factors driving patient handling equipment market include implantation of safe patient handling programs which constitute the minimal lift policy. For instance, the University of Iowa Hospitals and Clinics in U.S. implemented a safe patient handling programs and thereby reduced its workers compensation cost as well as recovered the initial investment on equipment in three years.
Japan market held largest share in 2016, which can be attributed to innovative technological advancement such as robotic electric wheelchairs which is designed to provide maximum comfort to user. Furthermore, major players like Paramount Bed Holdings Co., Ltd. operations are based in Japan which increases the local population to be easily accessible to the patient handling equipment that propels industry growth.
Competitive Market Share
Some of the major industry players are Hill-Rom, Stryker Corporation, Getinge Group, and Paramount Bed Holdings Co., Ltd. The key players adopt various strategies such as new product development, collaborations and expansions to expand their market position and product portfolio. For instance, in May 2017, Hill-Rom introduced Envella Air Fluidized Therapy Bed. This bed provides high quality of care for patients suffering from advanced wounds. This bed is designed to make patients more comfortable and easy to use for caregivers.
Patient Handling Equipment Industry Background
Patient handling equipment industry is extremely competitive and has many players operating which compete to maintain their position in the market. Technological advancement which leads to launch of innovative products should drive patient handling equipment market. The industry is projected to witness robust growth in the coming years due to the government support by implementing laws against manual handling of patients, implementation of safe patient handling programs, increasing funding and investment in research and development.
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