What is Patient Lifting Equipment Market?
Ageing populations in both developed and developing countries such as the US, Italy, Japan, and Canada are straining current resources in healthcare. Patient handling equipment needs are growing in response to this societal trend, as it helps in reducing the biomechanical load and physical stress associated with patient lifting and transferring tasks. and Patient handling equipment is assistive devices that allow the patients who lack the strength to control body movements to transfer to other places. These equipment are specifically designed to help patients in hospitals, medical centres, and nursing homes with some mobility. Patient handling equipment is cost-efficient than retrofitting and ensures increased productivity of caregivers and patient’s safety. According to the research in the United States, nursing had the highest rate of non-fatal occupational injuries and illnesses it is reported that 41,450 days away from work injuries with a median of 6 days away; an incident rate of 3 times greater than the rate for all workers. In order to address these hazards, hospitals have adopted Safe Patient Handling and Mobility programs and policies and have purchased patient lift equipment for use on inpatient units
The market study is being classified by Type (Ceiling/Overhead Lift, Stair Lift, Sit to Stand Lift and Bath & Pool Lift) and major geographies with country level break-up.
Arjo (Sweden), DJO Global (United States), Drive DeVilbiss Healthcare (United States), ETAC (Sweden), GF Health Products (United States), Guldmann (United States), Handicare (Sweden), Hill-rom Holdings, Inc. (United States), Invacare (United States) and Joerns Healthcare (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Medline Industries (United States) and Prism Medical (United Kingdom).
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Patient Lifting Equipment market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Patient Lifting Equipment market by Type, Application and Region.
On the basis of geography, the market of Patient Lifting Equipment has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Rising Geriatric and Bariatric Populations
- High Risk of Injuries to Caregivers During the Manual Handling of Patients
- Implementation of Regulations Ensuring the Safety of Healthcare Personnel Against Manual Lifting
Market Trend
- Use of smart technologies in the patient lifting equipment to ease the work
- Innovative patient handling devices driven by IoT and RFID technology
Restraints
- Improper use, poor maintenance, wear, corrosion, and fatigue can lead to mechanical failures
Opportunities
- Growing global geriatric and bariatric populations and the implementation of regulations is expected to drive the overall growth of the patient lifting equipment market
- Increasing Patient Volume in Nursing Homes and Rising Demand for Home Healthcare
Challenges
- Persistent Difficulties in Handling Bariatric Patients
- Lack of Training Provided to Caregivers for the Efficient Operation of Patient Handling Equipment
In October 2020 Stryker Corporation United States-based medical technologies firm Launches Industry’s First Completely Wireless Hospital Bed named as ProCuity. This intelligent bed was invented to support and reduce in-hospital patient falls at all acuity levels, improve nurse workflow efficiencies and safety, as well as help lower hospital costs.
Analyst Comment
The technology will continue to improve the quality of care while reducing overall time and energy spent on patient handling and tracking. The equipment’s developed, smart technology will continue to lead the way in the development of patient lifting equipment. Medical facilities can expect to see an increase in both options and patient demand for improved care as more approved products expand a market driven by the demands of an aging population comfortable with technical equipment’s.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Patient Lifting Equipment Manufacturer, Government Regulatory and Research Organizations and End-Use Industry