The patient handling equipment market is projected to grow at a CAGR of 7.94% to reach US$17.487 billion by 2025 from US$11.057 billion in 2019. Factors such as rising geriatric population, high risk of injuries, the needs of differently-abled, and regulatory measures regarding the safety of healthcare facilities are poised to throttle the growth of patient handling equipment market during the forecast period. Further from the end-user perspective, hospitals is expected to occupy a healthy share of the market. Additionally, the outbreaks of COVID 19 have led to a meteoric rise in the demand for patient handling equipment especially that of medical beds. Besides, the rising cases of the corona have made it governments of all nations’ top priority to increase their patient handling capacities. Moreover, the public health system is contributing to the flow of funds towards enhancing the hospital infrastructure to address the challenges of the pandemic. For instance, in the case of India, as of late June 2020, the Brihanmumbai Municipal Corporation of the city of Mumbai, decided to arrange at least 9,000 oxygen-supported beds by June 30 for coronavirus-afflicted patients experiencing breathlessness, to reduce dependence on intensive care units (ICUs). Again, in April 2020, in Kalamazoo Michigan, USA Stryker, medical technology company had reportedly developed a new medical bed designed with COVID-19 pandemic in mind. It is a low-cost, limited-release emergency response bed to quickly aid healthcare providers with efficient care during the COVID-19 pandemic. This equipment features a 30-degree head of bed angle to accommodate patients in respiratory distress, including ventilated patients. It also features a six-inch-thick foam surface, low height, and an attached IV pole. During the previous month of the same year, in light of the pandemic, a Californian high-end bedding producer E.S. Kluft was in the process of developing medical beds and face masks for healthcare professionals, facilities, and other organizations. This another example of participation from a non-medical entity which is adding the pool of patient handling equipment devices. Again, along the same lines, in March 2020, furniture parts manufacturer Hickory Springs is switching production lines to make medical mattresses and metal beds for hospitals, medical practices, and overflow medical areas dealing with COVID-19. In June 2020, it was reported that Tokyo Haneda International Airport is set to become the first in the world to utilize an autonomous mobility service for reduced mobility passengers. It is due to deploy autonomous mobility wheelchairs from Japanese supplier WHILL, with their introduction accelerated by the demands of the current Covid-19 pandemic. The devices utilize a combination of proximity sensors and automatic brakes to help guide passengers through the airport’s terminals.
Further, as of 2018 according to the World Health Organisation, over a billion people are estimated to live with some form of disability. This corresponds to about 15% of the world's population. Between 110 million (2.2%) and 190 million (3.8%) people 15 years and older have significant difficulties in functioning. Furthermore, the rates of disability are increasing in part due to aging populations and an increase in chronic health conditions.Further, People with disability report seeking more health care than people without disability and have greater unmet needs. For example, a recent survey of people with serious mental disorders showed that between 35% and 50% of people in developed countries, and between 76% and 85% in developing countries, received no treatment in the year before the study. Additionally, it is estimated that with an aging global population and a rise in non-communicable diseases, more than 2 billion people will need at least 1 assistive product by 2030, with many older people needing 2 or more. Today, only 1 in 10 people in need have access to assistive products. In view of the above, the current unmet global need for assistive technology is an estimated 75 million people who need a wheelchair and only 5% to 15% of those in need who have access to one. Thus, the above estimates are a clear indication of the extent the demand for patient handling equipment will be created in the future which is poised to drive the growth of patient handling equipment market during the forecast period. For instance, in May 2020, Able Innovations announced that it has come up with a working prototype of its automated lateral transfer device. The DELTA Platform uses a conveyor belt to “roll” its transfer platform under the person being lifted in a non-intrusive manner. It is aimed for the elderly population and the product is expected t be market-ready by early 2021. During the previous year around March 2019, it was reported that the global patient handling equipment supplier Arjo has acquired substantial equity in Atlas Lift Tech intending to give a strong platform to offer a unique end-to-end solution, with the mutual goal of reducing caregiver injuries and improving patient care, while creating efficiencies for healthcare facilities. Again 2019, it was reported that Mobility and moving & handling equipment supplier Etac has acquired a majority stake in the USA leader for air-assisted patient handling technologies focusing on devices for lateral transfer and repositioning, Pennsylvania-based HoverTech. This gave Etac astrong platform for further growth in Europe, the US, and important export markets.
Segmentation
Frequently Asked Questions (FAQs)
All our studies come with 2 months of analyst support.
We are in compliance with the global privacy laws.
