What This Report Will Provide?

This study involved four major activities in estimating the current size of the patient handling equipment market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market.

The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the size of segments and subsegments.

Expected Revenue Growth:

The patient handling equipment market is projected to reach USD 12.6 billion by 2024 from USD 8.9 billion in 2019, at a CAGR of 7.2%.

Major Growth Boosters:

The growth of this market is largely driven by factors such as the rising geriatric population, high risk of injuries to caregivers during the manual handling of patients, and the implementation of regulations ensuring the safety of healthcare personnel during manual lifting processes. However, the persistent difficulties in handling bariatric patients are expected to limit market growth to a certain extent.

Patient Transfer Devices to be The Largest Growing Segment:

Based on type, the market is segmented into mobility devices, medical beds, bathroom & toilet assist equipment, patient transfer devices, and stretchers & transport chairs. In 2019, the patient transfer devices segment is expected to account for the largest share of the market. The large share of this segment can primarily be attributed to factors such as the increasing installation of ceiling lifts in hospitals and the growing adoption of patient lifts for bariatric patient handling.

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Key Questions Addressed in The Report:

1. Who are the top 10 players operating in the global patient handling equipment market?
2. What are the drivers, restraints, opportunities, and challenges in the patient handling equipment Industry?
3. What are the opportunities for stakeholders and provide details of the competitive landscape for key players?
4. What will be growth of patient handling equipment in North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa?

Regional Growth and Demand Analysis:

The APAC market is estimated to grow at the highest CAGR during the forecast period. Factors such as the increasing incidence of MSD-caused injuries to caregivers, growth in the elderly population, healthcare infrastructure improvements, and the increasing prevalence of chronic diseases are the major factors driving market growth in the Asia Pacific. Several countries in the APAC have implemented policies for safe handling to prevent caregiver injuries while transferring and lifting patients. In addition, the overall expansion of economies in India, China, and Southeast Asia has further compelled key industry players to invest in this region owing to the lucrative opportunities presented by this market.

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Key Players:

The major companies in the patient handling equipment market include Arjo (Sweden), Invacare (US), and Hill-Rom Holdings (US).

Arjo (Sweden) has a broad range of patient handling equipment, which ensures safe and comfortable patient handling. With its strong geographical presence, brand image, and wide distribution network, the company is expected to hold a significant position in the market. Approximately 44% of Arjo’s total sales attributed to its patient lift, slings, stretchers, and medical bed portfolio. The company’s main customers are private and public institutions, providing acute and long-term care.