Patient Handling Equipment Market Size, Growth , Report 2033

The global patient handling equipment market size is anticipated to reach around USD 22.60 billion by 2033, growing at a CAGR of 6.62% from 2024 to 2033.

Key Points

• The North America patient handling equipment market size reached USD 4.64 billion in 2023 and is projected to be worth around USD 8.81 billion by 2033.
• North America has generated highest revenue share of 37% in the patient handling equipment market in 2023.
• Asia Pacific is observed to grow at the fastest rate during the forecast period.
• By product, the wheelchairs and scooters segment dominated the patient handling equipment market in 2023.
• By application, the acute & critical care segment dominated the market with revenue share of 28% in 2023.
• By end-use, the hospitals segment dominated the patient handling equipment market in 2023 and captured a revenue share of 41%.
• By application, the mobility assistance segment significantly growing in the market during the forecast period.

The patient handling equipment market refers to the industry that produces devices and tools designed to assist healthcare providers in moving, transferring, and positioning patients safely and comfortably. This market includes products such as mobility aids, medical beds, stretchers, patient hoists, and other related equipment. These devices are critical for the safety and well-being of both patients and healthcare workers, as they help reduce the risk of injuries from manual handling.

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Growth Factors

Several factors contribute to the growth of the patient handling equipment market. One of the primary drivers is the aging population worldwide, which increases the demand for medical care and, consequently, patient handling equipment. Additionally, the rise in the prevalence of chronic diseases, such as diabetes and obesity, necessitates specialized equipment for managing and caring for patients. Advancements in technology, such as the development of electric and automated patient handling devices, further propel market growth by offering enhanced safety and efficiency.

Region Insights

The patient handling equipment market varies across different regions. In North America, the market is driven by a well-established healthcare infrastructure, high healthcare expenditure, and a growing elderly population. Europe follows closely, with countries like Germany and the UK leading the market due to their advanced healthcare systems and emphasis on patient safety. The Asia-Pacific region is expected to experience significant growth in the coming years, driven by increasing healthcare awareness, a large population base, and rising investments in healthcare infrastructure.

Patient Handling Equipment Market Scope

Patient Handling Equipment Market Dynamics

Drivers

Several key drivers contribute to the growth of the patient handling equipment market:

1. Rising Elderly Population: The increasing number of elderly individuals worldwide boosts the demand for patient handling equipment.
2. Technological Advancements: Innovations such as electric lifts and automated hoists improve efficiency and safety.
3. Healthcare Workforce Safety: A focus on reducing injuries among healthcare workers encourages the adoption of patient handling equipment.
4. Healthcare Expenditure: Increased spending on healthcare drives the adoption of patient handling equipment in hospitals and other healthcare facilities.

Opportunities

The patient handling equipment market offers numerous opportunities for growth:

1. Product Innovation: Companies can develop new products with enhanced features to cater to diverse patient needs.
2. Emerging Markets: Developing countries present opportunities for market expansion due to rising healthcare investments and growing populations.
3. Home Healthcare: The trend toward home healthcare opens up a market for patient handling equipment suited for residential use.

Challenges

Despite its growth potential, the patient handling equipment market faces some challenges:

1. High Costs: Advanced equipment can be expensive, limiting accessibility for smaller healthcare facilities and home users.
2. Regulatory Compliance: Stringent regulations for medical devices can pose challenges for manufacturers.
3. Competition: The market is competitive, with several established players vying for market share, which can create barriers for new entrants.

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Recent Developments

• In March 2023, Medtronic, the largest healthcare technology company in the world, and NVIDIA announced a partnership to develop AI in the healthcare system more quickly and integrate innovative AI-based solutions into patient care. The businesses will incorporate NVIDIA healthcare and edge AI technology into the Cosmo Pharmaceuticals-developed and -manufactured Medtronic GI Genius TM intelligent endoscopy module. The first AI-assisted colonoscopy tool approved by the FDA, GI Genius, enables doctors to find polyps that may eventually develop into colorectal cancer.
• In December 2022, Helix Flex, a new device from Freudenberg Medical, was introduced at PMEC India and CPhI. The product is a high-purity thermoplastic elastomer (TPE) tubing intended for fluid transfer applications in the biopharmaceutical industry.

Patient Handling Equipment Market Companies

• Getinge
• Stryker
• Invacare
• Hill Rom Services
• Guldmann
• HoverTech International
• Handicare
• Prism Medical
• Ossenberg
• Drive Medical
• Antano Group
• ORTHOS XXI
• Stiegelmeyer
• LINET
• Joerns Healthcare

Segments Covered in the Report

By Product

• Wheelchairs and Scooters
  • Manual Wheelchair
    • Folding Frame Manual Wheelchairs
    • Rigid Frame Manual Wheelchairs
  • Powered Wheelchair
  • Mobility Scooters
• Medical Beds
  • Acute Care Beds
  • Long Term Care Beds
  • Bariatric Beds
  • Others
• Mechanical Lifting & Transfer Equipment
• Ambulatory aid Devices
• Bathroom Safety Supplies
• Others

By Application

• Acute & Critical Care
• Long Term Care
• Mobility Assistance
• Fall Prevention
• Others

By End-use

• Hospitals
• Home Care Settings
• Elderly Care Facilities
• Others

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

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Prathamesh

I have completed my education in Bachelors in Computer Application. A focused learner having a keen interest in the field of digital marketing, SEO, SMM, and Google Analytics enthusiastic to learn new things along with building leadership skills.

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