The market for patient lifting equipment is anticipated to grow at a compound annual growth rate (CAGR) of 12.7% from USD 3.0 billion in 2019 to USD 5.4 billion in 2024. The market is expected to develop due to a number of factors, including the growing body of research on the world’s elderly and bariatric populations, the high risk of caregiver injuries during patient handling, and the introduction of rules that protect healthcare workers from harm during manual lifting. The expansion of this market is anticipated to be constrained during the forecast period, nevertheless, by the lack of training given to caregivers regarding the proper use of patient handling equipment.
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Browse in-depth TOC on “Patient Lifting Equipment Market”
67 – Tables
21 – Figures
132 – Pages
Key Market Players :
The major companies in the patient lifting equipment market include Arjo (Sweden), DJO global (US), Drive DeVilbiss healthcare (US), ETAC (Sweden), GF Health Products (US), Guldmann (US), Handicare (Sweden), Hill-Rom Holdings, Inc. (US), Invacare (US), Joerns Healthcare (US), Medline Industries (US), Prism Medical UK.
Hill-Rom (US) was the leading player in the market in 2018. The company provides a wide range of patient lifts such as mobile lifts, overhead lifts, free-standing lifts, sit-to-stand lifts, slings and lift sheets, and other lifting accessories. The company makes significant R&D investments, which is an integral part of its operations. Hill-Rom invested USD 0.14 billion towards R&D in 2018 (4.8% of total revenue). This significant investment in product development enabled the company to focus on product innovation. The constant focus on innovation helps the company to enhance its product offerings for the patient lifting equipment market.
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Based on the product, the patient lifting equipment market is segmented as follows:
- Ceiling Lifts
- Star & Wheelchair Lifts
- Mobile Lifts
- Sit-to-stand lifts
- Bath & Pool Lifts
- Lifting Slings
- Lifting accessories
Based on end users, the patient lifting equipment market is segmented as follows:
- Hospitals
- Home Care Settings
- Elderly Care facilities
- Other End Users (Emergency medical services, long term acute care centers, trauma centers, and nursing homes)
Ceiling lifts to account for the largest share of the global patient lifting equipment market in 2019
Based on product, the patient lifting equipment market is segmented into ceiling lifts, stair & wheelchair lifts, mobile lifts, sit-to-stand lifts, bath & pool lifts, lifting slings, and lifting accessories. Ceiling lifts are expected to account for the largest share of the patient lifting equipment market in 2019, owing to the factors such as the growing adoption of ceiling lifts in bariatric patient handling practices coupled with an increase in the installation of ceiling lifts in hospitals as well as expanding bariatric population pool.
Hospital projected to account for the largest end-user of the market in 2019
Based on end-user, the patient lifting equipment market is segmented into hospitals, home care settings, elderly care facilities, and other end-users (including emergency medical services, long-term acute care centers, trauma centers, and nursing homes). The hospital segment is expected to dominate the market in 2019. The growing patient population, increase in geriatric population, rising number of disabled people, an increasing number of injuries caused during the patient handling process, growing preference of patient lifts over manual handling in hospitals, and improvements in the healthcare infrastructure are expected to drive the demand and adoption of patient lifting equipment in hospitals.
North America to witness the highest growth in the hospital segment market during the forecast period
North America is estimated to grow at the highest CAGR during the forecast period. Factors such as the increasing geriatric & bariatric population in the US & Canada, the growth of the North American home healthcare industry, and the growing patient volume in nursing homes and elderly care facilities are the major factors supporting the growth of the North American patient lifting equipment market.
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