Patient Handling Equipment Market Projected to Reach $12.3 Billion by 2030, Says MarkWide Research
According to a new report published by MarkWide Research, titled “Patient Handling Equipment Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2023-2030,” the global patient handling equipment market is poised to witness substantial growth, reaching a projected value of $12.3 billion by 2030. The market is expected to expand at a compound annual growth rate (CAGR) of 5.8% during the forecast period.
The increasing prevalence of chronic diseases and the aging population worldwide have led to a growing demand for patient handling equipment. These devices play a crucial role in facilitating the transfer, movement, and transportation of patients in healthcare settings. Hospitals, nursing homes, and home care settings are adopting advanced patient handling equipment to enhance patient care and minimize the risk of injuries to both patients and healthcare workers.
One of the key drivers propelling the patient handling equipment market is the emphasis on patient and healthcare worker safety. Healthcare facilities are focusing on reducing manual lifting and transferring of patients, as these activities can lead to musculoskeletal injuries among caregivers. Patient handling equipment such as patient lifts, transfer slings, and slide sheets are being increasingly adopted to ensure smoother and safer patient transfers.
The report segments the patient handling equipment market based on product type, end-user, and region. By product type, the market is categorized into patient lifts, slings, transfer aids, stretchers, wheelchairs, and others. Patient lifts are anticipated to dominate the market during the forecast period due to their widespread use in various healthcare settings. These lifts offer efficient and secure transfers, reducing the risk of falls and injuries.
Hospitals and nursing homes are the major end-users of patient handling equipment. The report suggests that the hospital segment is likely to maintain its dominance in the market, owing to the high patient inflow and the need for effective patient handling to ensure proper care. However, the home care segment is expected to witness rapid growth due to the rising preference for home-based healthcare services and the availability of advanced patient handling solutions for home use.
Geographically, North America is projected to hold a significant share of the patient handling equipment market. The presence of well-established healthcare infrastructure, favorable reimbursement policies, and a growing aging population are driving market growth in this region. Europe is also expected to contribute substantially to the market revenue due to increasing government initiatives to improve healthcare facilities and ensure patient and healthcare worker safety.
The Asia-Pacific region is anticipated to register rapid growth during the forecast period. The increasing healthcare expenditure, rising awareness about patient safety, and expanding healthcare infrastructure in countries like China and India are fueling the demand for patient handling equipment. Moreover, technological advancements and the introduction of innovative products are further boosting the market growth in this region.
Key players in the global patient handling equipment market are focusing on product innovations, strategic collaborations, and mergers and acquisitions to strengthen their market presence. These companies are also investing in research and development activities to develop advanced and ergonomic patient handling solutions.
In conclusion, the global patient handling equipment market is witnessing significant growth due to the rising need for patient and healthcare worker safety, coupled with the increasing prevalence of chronic diseases. The adoption of advanced patient handling equipment in healthcare settings is expected to drive market growth during the forecast period. With a projected value of $12.3 billion by 2030 and a CAGR of 5.8%, the patient handling equipment market presents lucrative opportunities for industry players and investors worldwide.