Global Patient Lifting Equipment Market was valued US$ 2.8 Bn in 2018 and is expected to reach US$ 5.9 Bn by 2026 at a CAGR of 9.8 % during the forecast period.
Global Patient Lifting Equipment: Overview
The increasing prevalence of disabilities is driving the global patient lifting equipment market. Individuals around the world are increasingly suffering from disabilities and conditions such as osteoarthritis, osteoporosis, fractures, paralysis, and obesity, which affects their mobility. This rising prevalence of disabilities increases the demand for patient handling equipment since it helps in overcoming mobility issues, which in turn drives the market expansion.
Also, the advancements in the design and technology of patient technology handling equipment are positively impacting the market. Technological advancements and improvements in the design of patient handling equipment make it easy to use by the healthcare providers and enhance the comfort for patients, which drive a number of end-users to adopt it and invest in the market.
Global Patient Lifting Equipment: By Segment Analysis
Based on end user, the patient lifting equipment market has been segmented into hospital, home healthcare, elderly care, and others. The hospital segment regarded for the major share in the global market in the historical period and it is expected to hold a market share of over 50% by 2026.
Geographically, Europe accounted for the largest share in the global patient lifting equipment market in the historical period and it is witnessed to be the largest market for patient lifting throughout the forecast period. The market is growing due to the presence of a large number of healthcare facilities, demand for better services along with supportive regulation and trained professionals for patient safety.
Global Patient Lifting Equipment: Drivers and Restraints
An increase in the number of accidents or misfortune of disabilities in urban towns and cities are the driver of the patient lifting equipment market. Disability is a complex condition which interacts between an individual’s personal health condition and environmental factor. It is a collective term for participation restriction, impairment and activity limitations. According to the World Health Organization (WHO), approximately 15% of the world’s population has some form of disability.
People with a disability cope with various barriers in services such as healthcare, education, employment, and social services. People with disabilities have less approach to health care services, therefore, experience unmet health care needs. The number of disabilities due to an increase in chronic diseases, fall, violence, injuries, accidents, and aging.
The educator teaching obsolete techniques and lack of proper use of lifting equipment is hindering the growth of the global market. As there are innumerable myths regarding patient handling, such as patients are not comfortable with the mechanical lifting, and it takes less time to manually lift a patient than to utilize lift equipment, limits the use of the patient lifting equipment, which further hampers the growth of the patient lifting equipment market.
The objective of the report is to present comprehensive assessment projections with a suitable set of assumptions and methodology. The report helps in understanding Patient Lifting Equipment dynamics, structure by identifying and analyzing the market segments and projecting the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, growth strategies, and regional presence. To understand the market dynamics and by region, the report has covered the PEST analysis by region and key economies across the globe, which are supposed to have an impact on market in forecast period.
PORTER’s analysis, and detailed SWOT analysis of key players has been done to analyze their strategies. The report will to address all questions of shareholders to prioritize the efforts and investment in the near future to the emerging segment in the Global Patient Lifting Equipment Market.
Scope of Patient Lifting Equipment Market-
Patient Lifting Equipment Market, By Product
• Wheelchairs & Scooters
• Medical Beds
• Mechanical &Non mechanical Equipment
• Ambulatory Aids
Patient Lifting Equipment Market, By Type
• Bariatric Care,
• Fall Prevention
• Critical Care
• Wound Care
Patient Lifting Equipment Market, By End-user
• Home Care Settings
• Elderly Care Facilities
Patient Lifting Equipment Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating in Patient Lifting Equipment Market
• Linet, Inc.
• Handicare, Inc.
• Benmor Medical Ltd
• ArjoHuntleigh, Inc.
• Spectra Care Group
• Etac Ltd.
• Guldmann, Inc.
• Stiegelmeyer, Inc.
• Mangar International Ltd.
• Sidhil Ltd.
• Strykar Corporation
• Hill-Rom Holdings Inc.
• Prism Medical
• Joerns Healthcare
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