"Patient handling equipment market to exhibit lucrative growth during the forecast period"
The global patient handling equipment market is increasing significantly, was valued at US$ 10,600.1 Mn in 2017 and expected to reach US$ 24,364.3 Mn by 2026. Increasing emergency procedures, trauma, growing commonness of disabilities, injuries among the elderly, and faster patient transportation with higher safety along with the growing adoption of branded equipment drives the overall patient handling equipment market growth. New technological evolution in the transfer and lifting equipment would also drive the overall market.
Market Synopsis
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"Medical beds segment is expected to register higher growth by the end of 2026"
Overall sales of patient handling equipment is expanding significantly, mainly in the Asia Pacific and Western Europe. The market is further fuelled with rising private institutional nursing and the entry of major international players from Europe and the U.S. in domestic markets. Wide range of patient handling equipment, mainly in the wheelchair and scooters segment incorporate experts to meet the dynamic demand. Growing emergency care services, high investment in the medical beds segment in the hospitals and clinics is driving the growth successfully. Increasing super-specialty healthcare accommodations globally along with rising investment and adoption of new products with long-term care beds, curative care beds, and psychiatric care beds are fulfilling the demand globally.
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"The clinics segment is expected to register higher growth by the end of 2026"
Stable development in the hospitals and clinics segment expected to grow at healthier CAGR. The shifting dynamics in critical and emergency care, demand for convenience in patient transfer from and to departments along with increasing trauma cases and injuries among the elderly population is generating determined revenue in the current time and expected to do so in the coming years. Moreover, expanded use of accessories, enhanced applications of lifting and transfer equipment for improved outcomes are driving the overall development of the market. Nevertheless, higher costs, and formless reimbursement structure in emerging nations are hindering the growth of patient handling equipment market.
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"Increasing demand for advanced equipment, and the presence of established players holds North America in dominant position"
North America to contribute maximum revenue share in the global patient handling equipment market. Major factors enhancing the growth in North America and Europe include advanced elderly care management, high adoption of top quality equipment, growing number of partnerships and long term business engagements, and augmenting demand for advanced products in the developing nations. However, in developing economic regions such as Asia Pacific and Latin America, availability of advanced equipment is inadequate. Lack of swift emergency care along with skilled professionals, less accessibility of high-end product types and very high cost along with no reimbursement is limiting the overall growth of the patient handling equipment market.
"Dominance of multinational manufacturers with strong product portfolio in the developed regions"
Major players in the patient handling equipment market are DJO Global, Linet, Inc. Handicare, Inc., Benmor Medical Ltd., Hill Rom Holdings, Inc., Spectra Care Group, Etac Ltd., Guldmann, Inc., Joerns Healthcare LLC, Permobil AB, Stiegelmeyer, Inc., Mangar International Ltd., Stryker Corporation, Patterson Medical Holdings, Inc. and others. Manufacturers are implementing growth strategies along with technological advancement in transfer and lifting accessories. Furthermore, rapid product launch, expansion to hospitals and clinics in the form of partnerships will further spur revenue growth in future.
Historical & Forecast Period
This study report represents analysis for each segment from 2016 to 2026 considering 2017 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2018 to 2026.
Report Scope by Segments
| ATTRIBUTE |
DETAILS |
| Research Period |
2016-2026 |
| Base Year |
2017 |
| Forecast Period |
2018-2026 |
| Historical Year |
2016 |
| Unit |
USD Million |
| Segmentation |
Restorative Material Type (2016–2026; US$ Mn)
• Wheelchairs and Scooters
• Medical Beds
• Bathroom Safety Supplies
• Mechanical Lifting Equipment and Non-mechanical Lifting Equipment
• Ambulatory Aids
• Other Accessories
|
|
End-user Segment (2016–2026; US$ Mn)
• Hospitals
• Clinics and Nursing Homes
• Academic and Research Institutions
• Rehabilitation and Elderly Care Centers
|
|
Geography Segment (2016–2026; US$ Mn)
• North America (U.S., Canada)
• Europe (U.K., Germany, Rest of Europe)
• Asia Pacific (Japan, China, Rest of Asia Pacific)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Middle East & Africa (GCC, Rest of Middle East & Africa)
|
The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints and opportunities that gives a better market understanding of the overall Patient handling equipment market. Additionally, the global report also comprises graphical representation of competitive landscape based on their market initiatives and strategies, product portfolio and business strengths.
Key questions answered in this report
- What are the current market trends and dynamics in the patient handling equipment market and valuable opportunities for emerging players?
- Which segment accounts for the fastest CAGR during the forecast period?
- What is the impact of high cost of transfer and lifting equipment on the patient handling equipment market?
- What are the market trends and dynamics in emerging markets such as Japan, Latin America and Middle East & Africa?
