The patient handling equipment market was evaluated at US$11.886 billion for the year 2020, growing at a CAGR of 6.22% reaching the market size of US$18.139 billion by the year 2027.
Factors such as the rising geriatric population, high risk of injuries, the needs of differently-abled people, and regulatory measures regarding the safety of healthcare facilities are poised to stifle the growth of the market during the forecast period. Further from the end-user perspective, hospitals are expected to occupy a healthy share of the market.
Furthermore, according to the World Health Organisation, over a billion people are estimated to live with some form of disability. This corresponds to 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, owing to ageing populations along with an increase in chronic health conditions. Further, People with disability report seeking more health care than people without disabilities 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 proper treatment 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. Because 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 have access to one. The aforementioned projections, therefore, provide a clear picture of the level of future demand for patient handling equipment, which is anticipated to fuel the market's expansion. For instance, in May 2020, Able Innovations announced that it had come up with a working prototype of its automated lateral transfer device aimed at the elderly population, and the product is expected to be market-ready by early 2021. In 2019, it was reported that mobility and moving and handling equipment supplier Etac had acquired a majority stake in Pennsylvania-based HoverTech, the US leader in air-assisted patient handling technologies. This gave Etac a strong platform for further growth in Europe, the US, and important export markets.
Medical beds are anticipated to have a sizable market share by product category. The increased use of handling equipment in hospitals, home care settings, care homes, trauma centres, as well as long-term acute care facilities is responsible for this expansion. Additionally, modern medical beds with features like bed frames, adjustable angles, and support surfaces for comfort and ease of movement are changing people's preferences away from conventional beds and increasing demand. Advanced beds have several key features that are expected to increase demand shortly, including an electric backrest, friction and shear reduction, battery backup, and simple assembly and disassembly.
Due to the increased usage of patient handling equipment for the clinical safety of patients and caregivers, hospitals led the end-use segment. The element causing market expansion is also the increased application of safety regulations and pressure from governmental authorities to adhere to these regulations. For instance, to promote patient health in the UK, the National Patient Safety Agency keeps track of patient safety issues in hospital settings. Additionally, it is anticipated that spending on healthcare infrastructure improvement to provide better services and facilities will fuel market expansion throughout the projection period.
Recent Developments and expansions
The outbreaks of COVID 19 have led to a meteoric rise in the demand for patient handling equipment, especially medical beds. Besides, the rising cases of 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, During the previous month of the same year, in light of the pandemic, the 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 is another example of participation from a non-medical entity that is adding to the pool of patient handling equipment devices. 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.
|Market size value in 2020||US$11.886 billion|
|Market size value in 2027||US$18.139 billion|
|Growth Rate||CAGR of 6.22% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments Covered||Product Type, End-Users, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Antano Group, Arjo (Getinge AB), BESTCARE Medical, DJO Global, Inc. (Colfax Corporation), Drive DeVilbiss International, Etac AB, Guldmann Inc, Handicare Group AB, Hill-Rom Services Inc., Invacare Corporation, Saikang Medical, Joerns Healthcare LLC, LINET, Mangar Health, McAuley Medical, Inc|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the patient handling equipment market size by 2027?
A1. The patient handling equipment market is projected to reach a market size of US$18.139 billion in 2027.
Q2. What is the size of the global patient handling equipment market?
A2. Patient Handling Equipment Market was valued at US$11.886 billion in 2020.
Q3. What are the growth prospects for the patient handling equipment market?
A3. The patient handling equipment market is projected to grow at a CAGR of 6.22% over the forecast period.
Q4. How is the patient handling equipment market segmented?
A4. The patient handling equipment market has been segmented by product type, end-user, and geography.
Q5. What factors are anticipated to drive the patient handling equipment market growth?
A5. Factors such as the 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 the patient handling equipment market during the forecast period.
Arjo (Getinge AB)
DJO Global, Inc. (Colfax Corporation)
Drive DeVilbiss International
Handicare Group AB
Hill-Rom Services Inc.
Joerns Healthcare LLC
McAuley Medical, Inc
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