The global patient lifting equipment market was valued at USD 2.85 billion in 2018. Increasing geriatric population along with growing rate of bariatric surgeries being performed across major economies shall fuel the market for patient lifting equipment in the near future.
Growing geriatric population pool, increasing number of disabled populations in countries such as India, China and Japan are anticipated to fuel the market for lifting device in coming years.
The global market for the Patient Lifting Equipment is anticipated to develop at a compound annual growth rate (CAGR) of 13.25% throughout the course of the forecast, to reach USD 7.89 billion by 2029.
.jpg "The Global Patient Lifting Equipment Market 2019-2029 (USD Billion)")
Rising injury from road accidents, sports injuries, etc. are major growth factors fueling the growth of patient handling equipment business. Disability is a chronic disorder which highly effects personal and professional lives in an individual's health. This is a common expression for disability, restriction of involvement and reduction of action. Approximately 15 per cent of the world's population has a sort of impairment, according to the World Health Organisation (WHO). Such high potential population is anticipated to benefit the equipment manufacturers in coming years.
Patient Lifting Equipment Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2029 |
| Study Period | 2018-2029 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2029 | USD 7.89 billion |
| Growth Rate | CAGR of 13.25% during 2019-2029 |
| Segment Covered | By Product, End- User, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | rjo, DJO Global, Inc., Drive DeVilbiss International, Hill-Rom Services Inc., Invacare Corporation, Joerns Healthcare LLC, Medline Industries, Inc., BESTCARE Medical, Nuk Healthcare, Home Medical Products Inc.,Orion Health group of companies, OSP Labs, AM HEALTHCARE TECHNOLOGY, Deevita LLC, GENERAL ELECTRIC COMPANY, and IBM among others. |
Key Segment Of The Patient Lifting Equipment Market
Product (USD Billion)
• eiling lifts
• stair and wheelchair lifts
• mobile lifts
• sit- to- stand lifts
• bath and pool lifts
• lifting slings
• accessories
End User, (USD Billion)
• Healthcare Providers
• Hospitals
• Home care settings
• Elderly care facilities
• others
Regional Overview, (USD Billion)
North America
• US
• Canada
Europe
• Germany
• France
• UK
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• Rest of Asia Pacific
South America
• Mexico
• Brazil
• Rest of South America
Middle East and South Africa
Frequently Asked Questions (FAQ) :
the patient lifting equipment market is growing at a CAGR of 13.25% during the forecast period.
The base year for the report is 2023 in patient lifting equipment market
Increasing patient lifting equipment demand and penetration in developing markets will give tremendous growth prospects for the global players. While the global demand in the emerging markets is rising at a significant pace, there is still a large unexplored demand in various developed countries as well. With the rapid economic growth and growing policy initiatives in Asia, the big patient handling equipment manufacturers are entering the region's untapped sector.
Currently, countries like China and India hold immense market potential. In the past few years, the healthcare industry in these countries have been experiencing tremendous expansion. The broad customer base and the development of healthcare facilities has drawn manufacturers of medical devices to establish their production sites in above-mentioned nations. In comparison, medical device processing goods in developed regions appear to reduce the total cost of production, thereby raising the expense of the drug without altering the price. Furthermore, Governments around countries work towards comprehensive healthcare coverage, which is likely to increase the uptake of advanced procedures and increase penetration rate of these lifting devices amongst the patient population.
Key vendors are focusing on product development and R&D. For instance, to retain its position in this market, ArjoHuntleigh has been continuously focused on prioritizing product design and user-friendliness in the production of new and current products. Arjo's research and development spending in 2018 rose to USD 16.2 million. This has enabled the organization greatly to perform customer-focused analysis and build innovative approaches to the challenging industry challenges. Such focus areas by key vendors are likely to bring innovative and user-friendly products in the market.
Based on the product, the market is classified into patient transfer devices, medical beds, mobility devices, bathroom & toilet assist equipment, and stretchers & transport chairs. In 2018 patient transfer device segment accounted for majority of the market share and is likely to maintain its position in coming years.
In terms of end users, hospital segment accounted for majority of market share and is likely to maintain its position pertaining to large number of surgical procedures occurring in hospitals compared to counterparts.
In terms of geography, Europe accounted for the largest share in the historic period of the global patient lifting equipment market. Similar trend is expected to continue over the forecast period. The market position is attributed to the existence of an increasing number of specialty clinics offering bariatric surgeries, qualified practitioners and competition for quality treatment coupled with favorable patient protection regulations. Growing the incidence of lifestyle diseases, and rising demand for home healthcare to drive market growth within the region.
APAC market is expected to expand at the most lucrative CAGR during the forecast period. Factors such as the growing frequency of MSD-related accidents to caregivers, the rise of the elderly population, the development of healthcare services and the rising prevalence of chronic diseases specifically paralysis are main factors of demand growth in the Asia Pacific. With increasing awareness regarding product availability in highly populated countries, the demand for patient lifting products is likely to show lucrative growth in coming years.
.png "Global Patient Lifting Equipment Market Share by Region (CAGR)")