The market for Patient Handling Equipment Market is expected to reach US$ 24,364.3 Mn in 2026.
The global patient-handling equipment market is rapidly expanding; it was worth $10,600.1 million in 2017 and is expected to be worth $24,364.3 million by 2026. Increasing emergency procedures, trauma, the growing commonness of disabilities, injuries among the elderly, and faster patient transportation with higher safety, along with the growing adoption of branded equipment, drive the overall patient handling equipment market's growth. New technological evolutions in transfer and lifting equipment would also drive the overall market.
Overall patient handling equipment sales are increasing significantly, primarily in Asia Pacific and Western Europe. The market is further fuelled by rising private institutional nursing and the entry of major international players from Europe and the U.S. in domestic markets. A wide range of patient handling equipment, mainly in the wheelchair and scooter segment, incorporates experts to meet the dynamic demand. Growing emergency care services and high investment in the medical bed segment in hospitals and clinics are 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.
Stable development in the hospitals and clinics segment is expected to grow at a healthier CAGR. The changing dynamics of critical and emergency care, the demand for convenience in patient transfer from and to departments, as well as an increase in trauma cases and injuries among the elderly population are generating determined revenue now and will continue to do so in the coming years. Moreover, the expanded use of accessories and enhanced applications of lifting and transfer equipment for improved outcomes are driving the overall development of the market. Nevertheless, higher costs and a formless reimbursement structure in emerging nations are hindering the growth of the patient-handling equipment market.
North America will account for the greatest revenue share of the global patient-handling equipment market. Major factors boosting growth in North America and Europe include advanced elderly care management, widespread adoption of high-quality equipment, an increase in partnerships and long-term business engagements, and increased demand for advanced products in developing countries. However, in developing economic regions such as Asia-Pacific and Latin America, the availability of advanced equipment is inadequate. The patient handling equipment market's overall growth is being hampered by a lack of quick emergency care and skilled professionals, less accessibility of high-end product types, and extremely high costs with no reimbursement.
Major players in the patient handling equipment market are DJO Global and 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 advancements in transfer and lifting accessories. Furthermore, rapid product launches and expansion to hospitals and clinics in the form of partnerships will further spur revenue growth in the future.
This study report includes an analysis for each segment from 2016 to 2026, with 2017 as the base year. The compound annual growth rate (CAGR) for each of the respective segments is estimated for the forecast period from 2018 to 2026
The current report also includes qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities to provide a complete picture of the overall patient handling equipment market. Additionally, the global report also comprises a graphical representation of the competitive landscape based on their market initiatives and strategies, product portfolios, and business strengths.
The market for Patient Handling Equipment Market is expected to reach US$ 24,364.3 Mn in 2026.
The Patient Handling Equipment Market is expected to see significant CAGR growth over the coming years, at XX%.
The report is forecasted to 2018-2026.
The base year of this report is 2017
DJO Global, Linet, Inc,Handicare, Inc.,Benmor Medical Ltd.,V.Guldmann A/S are some of the major players in the global market