The latest market report published by Acute Market Reports, Inc. “Patient Handling Equipment Market Growth, Future Prospects, and Competitive Analysis, 2018 – 2026” the patient handling equipment market was valued at US$ 10,600.1 Mn in 2017 and expected to reach US$ 24,364.3 Mn by 2026 at a CAGR of 9.7% during the forecast period from 2018 to 2026.
The global patient handling equipment market shows productive growth during the forecast period from 2018 to 2026 attributed to an increase in bariatric care, critical care, fall prevention and wound care procedures globally in hospitals. Additionally increasing emergency care services, rising incidence of injuries and subsequent due to lack of caution observed in manual patient transfer, and expansion of top trauma centers, long-term acute care institutions, and nursing homes are the key factors driving the market growth globally. Increasing medical tourism, advancement in top quality equipment in the lifting and transfer equipment is further going to spur revenue growth globally. Medical beds hold the major share in the patient handling equipment market in 2017. The global patient handling equipment market has gained widespread acceptance globally by miscellaneous departments such as orthopedics, critical care units, neurology, rehabilitation and bariatric surgeries. Incidence of disabilities is increasing due to upsurge in chronic diseases, violence, fall, injuries, trauma, and accidents, mainly in the elderly population. The overall demand for top patient handling equipment in the developing nations is gaining traction slowly along with better social and healthcare services. High costs, less availability of skilled technicians, lower awareness regarding availability of novel and advanced products in developing regions will restrain the overall market growth during the forecast period.
The market in Europe and North America is witnessing upward growth due to the presence of huge number of multispecialty healthcare facilities, availability of skilled and trained professionals and demand for enhanced healthcare services along with supportive federal regulations for higher patient safety. Moreover, growing prevalence of chronic diseases and demand for home care services are also few other factors driving the overall growth of the market globally, mainly in Europe and the U.S.
Key Market Movements:
- Globally, the patient handling equipment market remains to exhibit a lucrative growth with a CAGR of 9.7% for the period from 2018 to 2026
- Based on the type, the medical beds segment shows lucrative growth with increasing applications in the hospital industry
- Increasing number of clinics along with emergency care, availability of branded products with enhanced applications, and increasing healthcare expenditure developing nations will contribute the overall growth of the patient handling equipment market
- Major players in this vertical are DJO Global, Linet, Inc., Handicare, Inc., Benmor Medical Ltd., Hill Rom Holdings, Inc., Spectra Care Group, Etac Ltd., Guldmann, Inc., Joerns Healthcare LLC, Permobil AB, Stiegelmeyer, Inc., Mangar International Ltd., Stryker Corporation, Patterson Medical Holdings, Inc. and others.