The medical elevator market is anticipated to expand at a high CAGR over the forecast period.
Elevators can be classified as a form of transportation from one place to another. There is a wide variety of elevators that exist in the present era, which evolved from hoists to steam hydraulic elevators and finally to motor elevators. The different types of elevators include freight elevators, boat lifts, stage lifts, sidewalk elevators, dumbwaiters, vehicle elevators, passenger elevators, aircraft elevators, residential elevators, paternoster, scissor lifts, and material handling belts. Passenger elevators are common in the majority of facilities and residential buildings. Passenger elevators provide transport to people from one floor to another, based on the floor desired by the passenger. They also consist of a few extra functions, which include loudspeakers that play music or announcements, audio or visual advertising, or a television display. Passenger elevators include residential elevators, commercial elevators, and medical elevators. Medical elevators are a type of passenger lift that functions to carry patients from one place to another.
Medical elevators are commonly used in hospitals and clinics and help in the transportation of patients, doctors, and medical equipment between floors. These elevators provide comfortable and efficient transportation of patients without any rugged movement or disturbances. It also provides smooth movement of medical personnel from one place to another inside the medical institute. Reliable medical elevators offer a wide range of features, which include enhanced efficiency and safety. These also optimize patient transportation, streamline workflow, and ensure safety, which results in efficient healthcare delivery while safeguarding the well-being of the patients and staff. The global medical elevator market is expected to witness significant growth due to factors such as the increase in the aging population influencing the market.
The North American region is expected to witness significant growth in the medical elevator industry during the forecasted period. The United States accounts for a major contribution to growth in the healthcare industry due to their strong healthcare infrastructure. The majority of the healthcare in the United States is governed and influenced by regulators and policymakers in America, which include The US Department of Health and Human Services (HHS), Agency for Healthcare Research and Quality (AHRQ), Centers for Disease Control and Prevention (CDC), National Institutes of Health (NIH), Office of Inspector General (OIG), The US Food and Drug Administration (FDA), Center for Drug Evaluation and Research (CDER), Center for Biologics Evaluation and Research (CBER), and the Center for Devices and Radiological Health (CDRH).
Another factor that leads to the increase in the growth of medical elevators is the increase in the elderly population. Due to the aged population increasing at a rapid rate, the need for convenient and efficient patient transportation is expected to increase. As per the Population Reference Bureau, the number of Americans who are aged 65 and above is expected to increase from 58 million in 2022 to 82 million by 2050, which is a 47% increase. As the region's aged population increases, the need for more convenient and efficient patient transportation is expected to rise, which will innovate and develop American healthcare further and also provide the necessary boost for the global medical elevator market growth during the forecasted period.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Segmentation | Type, Application, End-User, Geography |
| Geographical Segmentation | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Companies |
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