Patient Handling Equipment Market is Anticipated to Expand at a CAGR of 10.2% from 2016 to 2024

Awareness about mobility aids is constantly increasing and several government organizations are known to offer subsidies, grants, and funding, while various public and private insurance players are provide insurance coverage. Increase in reimbursement for mobility and assistive devices by both private and government insurance players are likely to provide growth opportunities in the patient handling equipment market. Organizations such as the Occupational Safety and Health Administration (OSHA) and the American Nurse Association (ANA) recommend that manual lifting of patients must be minimized and eliminated.

For instance, a study conducted by OSHA in 2013 concluded that musculoskeletal disorders such as strains and sprains were one of the leading causes of injury to health care workers while manually moving, shifting, and lifting patients. These developments would drive the demand for these globally.

The research report on patient handling equipment market includes in-depth analysis of the product types, end-user, and geography. Base on product type, the market has been segmented into lifting slings, wheelchair, medical beds, ambulatory aids, shower, bath and toileting equipment, and others. In terms of end-user, the market has been divided into hospitals, home health care, nursing homes, assisted living facility, and others. The scope of this study analyzes each segment in terms of revenue (US$ Mn) and covers exhaustive information on the global volume trends of product equipment.

In 2015, medical beds product segment accounted for a lion’s share in the global patient handling equipment market. The hospital end user segment accounted for the largest market share compared to other end user segments in 2015. This end user segment is expected to maintain its dominance in the market; however, other end users such as rehabilitation centers, trauma centers are expected to witness the highest growth during the forecast period from 2016 to 2024. The global patient handling equipment market was analyzed across four geographies: North America, Europe, Asia Pacific, and Rest of the World.

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The key market players in this market have launched new products with technologically advanced and ergonomical design features in this market. In May 2015, Getinge Group introduced new Citadel Patient Care System, which is a medical bed with therapeutic mattresses for provision of improved care and support while handling high dependency patients. Technological advancements such as introduction of automated patient lifting and transfer techniques also act as a potential driver of the patient handling equipment market. These innovative products would sharply reduce the average time and number of caregivers that are deployed per patient in a health care setting. Therefore, advancements in assistive technology and improved product design coupled with government subventions are expected to contribute to market growth in the near future.

Geographically, Europe was the largest market for patient handling equipment in terms of revenue in 2015. The patient handling equipment market in Asia Pacific is anticipated to expand at the fastest growth rate during the forecast period from 2016 to 2024. Other emerging markets in rest of the world such as Latin America, and the Middle East & Africa are also expected to witness a steady growth during the forecast period. Increasing patient base, medical tourism, and rising income levels are also expected to propel the market.

Highly priced equipment’s have a minuscule consumer base in under- developed and developing regions due to the high cost of technologically advanced equipment which are unaffordable for small and medium size healthcare settings. In addition, apart from these factors the lower labor cost of caregivers in developing economies could further restrain the market growth in emerging economies.

Key players profiled in this report include Bayer AG, Continental Manufacturing Chemist, Inc., Elanco Animal Health, Inc., Indian Immunologicals Ltd., M.B.D. Marketing (S) Pte Ltd., Merck Animal Health, Merial, Nicosia International, Vallée S.A., and Zoetis, Inc.

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