Patient Handling Equipment Market Analysis

Patient Handling Equipment Market Analysis

The wheelchairs and scooters segment was valued over USD 5.8 billion in 2019. 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.
 

The acute & critical care segment accounted for around 18% revenue share in 2019. 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.
 

The hospitals segment accounted for over 30% of overall patient handling equipment market share in 2019. 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.
 

North America held maximum revenue share in 2019 and will witness around 2% CAGR during 2020 to 2026. The advanced healthcare infrastructure and increasing prevalence of chronic diseases are some of the factors driving the market growth in the region. 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.