Healthcare workers and caregivers use patient mechanical lift handling equipment to transfer, lift, and reposition patients. Caregivers and healthcare workers are prone to musculoskeletal injuries during manual handling of patients. Hospitals and healthcare institutes prefer using mechanical lifting equipment to ensure safety and convenience of patients. In addition, mechanical lifts improve the quality of life of bed-ridden patients by increasing their mobility and prevent pressure ulcers.
Increase in bariatric & geriatric population and rise in incidence of musculoskeletal injuries among caregivers drive the growth of the market. Moreover, increase in number of accidents and disabilities contribute toward the growth of the market. However, cost associated with the equipment, lack of awareness among patients, and inaccessibility to quality healthcare services in developing economies are the major barriers for the growth of the market. On the contrary, rise in demand for home healthcare services is expected to offer lucrative opportunities for market expansion during the forecast period.
The patient mechanical lift handling equipment market is segmented on the basis of product, end user, and region. On the basis of product, the market is segmented into stand up & raising lifts/aids, overhead/ceiling lifts, floor-based lifts, gantry lifts, powered sit-to-stand lifts, bath patient lifters, and others. According to end user, it is categorized into homecare, hospitals, elderly care homes, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a detailed quantitative analysis of the current market trends and future estimations from 2020 to 2030, which assists to identify the prevailing market opportunities
- An in-depth analysis of various regions is anticipated to provide a detailed understanding of the current trends to enable stakeholders to formulate region-specific plans
- A comprehensive analysis of the factors that drive and restrain the growth of the patient mechanical lift handling equipment market is provided
- An extensive analysis of various regions provides insights that allow companies to strategically plan their business moves
- Key market players and their strategies have been analyzed to understand the competitive outlook of the market
KEY MARKET SEGMENTS
By PRODUCT
- Stand Up & Raising Lifts/Aids
- Overhead/Ceiling Lifts
- Floor-Based Lifts
- Gantry Lifts
- Powered Sit-to-stand Lifts
- Bath Patient Lifters
- Others
By End User
- Homecare
- Hospitals
- Elderly Care Homes
- Others
By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
KEY MARKET PLAYERS
- Baxter International Inc
- Gainsborough Specialist Bathrooms
- Getinge AB
- Guldmann Inc
- Invacare Corporation
- Joerns Healthcare LLC
- Savaria Corporation
- Stryker Corporation
- Sunrise Medical LLC
- Winncare Group
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Table of Contents
Executive Summary
According to a new report titled, “Patient Mechanical Lift Handling Equipment Market by Product and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030, the global patient mechanical lift handling equipment market was valued at $1,241.04 million in 2020, and is projected to reach $2,676.16 million by 2030, registering a CAGR of 8.5% from 2021 to 2030.Patient mechanical lift handling equipment is a type of device that is used to hoist disabled patients who need to move but their weight makes them unsafe to move or lift them manually. These devices are particularly used in homecare, hospitals, and elderly care homes. Some of the examples of patient mechanical lift handling equipment include stand up & raising lifts/aids, overhead/ceiling lifts, floor-based lifts, gantry lifts, powered sit-to-stand lifts, and bath patient lifters. These types of patient lifting equipment are used to ensure absolute patient transfer system.
The major factors that drive the growth of patient mechanical lift handling equipment market are increase in number of accidents, rise in incidences of disabilities, surge in the bariatric & geriatric population, and surge in cases of musculoskeletal injuries. Moreover, risk of sleep disorder, rise in the geriatric & obese population, and increase in prevalence of sleep disorder contribute toward the growth of the market. However, cost associated with the equipment and lack of awareness among patients are expected to restrain the market growth during the forecast period. Conversely, rise in demand for home healthcare services offer lucrative growth opportunities for the patient mechanical lift handling equipment market.
Coronavirus (COVID-19) was discovered in late December in Hubei province of Wuhan city in China. The disease is caused by a virus, namely, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), which is transmitted among humans. Amidst the initial outbreak of COVID-19, the outlook for the patient mechanical lift handling equipment industry has changed significantly. The COVID-19 pandemic led to the significant rise in demand for patient mechanical lift handling equipment to handle various patients admitted in the hospitals. increase in number of patients who got admitted to hospital resulted in increased use of patient handling equipment. For instance, according to the data of Centers for Disease Control and Prevention, in March 2020, the rate of population hospitalized between the age group of 65 and above was approximately 13.8 per 100,000 population.
This impacted the market by the increase in the demand for the patient handling products. Moreover, rise in number of cases of COVID-19 patients across the globe increased the use of patient mechanical lift handling equipment. Overall, the impact of COVID-19 on the patient mechanical lift handling equipment market was recorded to be fairly positive. This was attributed to increase in demand for patient mechanical lift handling equipment to handle patients. Moreover, market players have increased investment in materials and resources, owing to increase in manufacturing demands for the devices in all the regions.
The patient mechanical lift handling equipment market is segmented on the basis of product, end user, and region. By product, the market is classified into stand up & raising lifts/aids, overhead/ceiling lifts, floor-based lifts, gantry lifts, powered sit-to-stand lifts, bath patient lifters, and others. Depending on end user, it is categorized into homecare, hospitals, elderly care homes, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
On the basis of product, the global patient mechanical lift handling equipment market is classified into stand up & raising lifts/aids, overhead/ceiling lifts, floor-based lifts, gantry lifts, powered sit-to-stand lifts, bath patient lifters, and others. Powered sit-to-stand lifts segment was the major contributor to the global market in 2020, and is anticipated to remain dominant during the forecast period due to technological advancements in the patient handling devices, increase in adoption of patient handling devices, rise in incidence rate of chronic diseases, and increase in number of advanced & effective product launches.
By end user, the global patient mechanical lift handling equipment market is fragmented into homecare, hospitals, elderly care homes, and others. Hospitals segment was the major contributor to the global market in 2020, and is anticipated to remain dominant during the forecast period, due to increase in healthcare awareness, rise in incidence of chronic diseases, rise in incidence of musculoskeletal injuries, and growth in geriatric & bariatric population.
North America accounted for major share of the global patient mechanical lift handling equipment market share in 2020, and is expected to remain dominant throughout the forecast period. This is attributed to increase in number of accidents & disabilities, surge in demand for patient handling devices, availability of advanced healthcare facilities with trained medical professionals, rise in number of R&D activities along with large presence of key players, and surge in investment made by governments in the healthcare system. However, Asia-Pacific is expected to experience the highest growth rate during the forecast period. Moreover, Japan and China are expected to grow at highest CAGR in Asia-Pacific patient mechanical lift handling equipment market majorly due to improvement in healthcare infrastructure, rise in number of hospitals equipped with advanced instruments, development of the R&D sector, rise in healthcare reforms, and technological advancements in the field of patient handling.
Key Findings Of The Study
- By product, the powered sit-to-stand lifts segment held majority share in the global patient mechanical lift handling equipment market in 2020
- Depending on end user, the hospitals segment held largest patient mechanical lift handling equipment market share in 2020, and is expected to remain dominant throughout the forecast period
- Region wise, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 105% during the forecast period
Companies Mentioned
- Baxter International Inc.
- Gainsborough Specialist Bathrooms
- Getinge AB
- Guldmann Inc.
- Invacare Corporation
- Joerns Healthcare LLC
- Savaria Corporation
- Stryker Corporation
- Sunrise Medical LLC
- Winncare Group
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 170 |
Published | February 2022 |
Forecast Period | 2020 - 2030 |
Estimated Market Value ( USD | $ 1241.04 million |
Forecasted Market Value ( USD | $ 2676.16 million |
Compound Annual Growth Rate | 8.0% |
Regions Covered | Global |
No. of Companies Mentioned | 10 |