September 22, 2024

Patient Handling Equipment Market Size, Share, Report 2033

The global patient handling equipment market size reached USD 11.90 billion in 2023 and is projected to attain 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.

Patient Handling Equipment Market Size 2024 to 2033

The Patient Handling Equipment Market encompasses a wide range of devices and tools designed to assist healthcare providers in safely moving and transferring patients. These equipment include patient lifts, transfer aids, stretchers, hospital beds, mobility aids, and more. The market has seen significant growth in recent years due to several factors such as the aging population, rising incidence of disabilities, increased focus on patient safety, and advancements in healthcare technology. As healthcare facilities strive to improve patient outcomes and reduce the risk of injury to both patients and caregivers, the demand for patient handling equipment continues to rise.

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Growth Factors:

Several factors contribute to the growth of the Patient Handling Equipment Market. Firstly, the aging population worldwide is driving the demand for patient handling equipment, as older adults often require assistance with mobility and transfers. Additionally, the increasing prevalence of chronic diseases and disabilities further fuels the demand for these devices. Technological advancements have also played a significant role, with the development of innovative products that enhance patient comfort and caregiver efficiency. Furthermore, stringent regulations regarding patient safety and ergonomics in healthcare settings have prompted healthcare facilities to invest in state-of-the-art patient handling equipment.

Regional Insights:

The demand for patient handling equipment varies across different regions, influenced by factors such as healthcare infrastructure, demographics, and government regulations. Developed regions such as North America and Europe have a mature market for patient handling equipment, driven by a high prevalence of chronic diseases and well-established healthcare systems. In contrast, emerging markets in Asia-Pacific and Latin America are experiencing rapid growth due to improving healthcare infrastructure and increasing healthcare expenditure.

Patient Handling Equipment Market Scope

Report Coverage Details
Growth Rate from 2024 to 2033 CAGR of 6.62%
Global Market Size in 2023 USD 11.90 Billion
Global Market Size in 2024 USD 12.69 Billion
Global Market Size by 2033 USD 22.60 Billion
Largest Market North America
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered By Product, By Application, and By End-use
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Patient Handling Equipment Market Dynamics

Drivers:

Several drivers propel the growth of the Patient Handling Equipment Market. One significant driver is the growing awareness of patient safety and the importance of ergonomic practices in healthcare settings. Healthcare facilities are increasingly recognizing the need to minimize the risk of patient and caregiver injuries during patient transfers and mobility tasks. Additionally, the shift towards home-based care and outpatient services has created a demand for portable and easy-to-use patient handling equipment that can be used in non-traditional healthcare settings.

Opportunities:

The Patient Handling Equipment Market presents numerous opportunities for growth and innovation. There is a growing demand for technologically advanced devices that enhance patient comfort and caregiver efficiency. Manufacturers have the opportunity to develop smart patient handling solutions equipped with sensors, automation, and connectivity features. Moreover, expanding into emerging markets presents significant growth opportunities, as healthcare infrastructure in these regions continues to improve, and awareness of patient handling practices increases.

Challenges:

Despite the promising growth prospects, the Patient Handling Equipment Market faces several challenges. One key challenge is the high cost associated with advanced patient handling equipment, which may limit adoption, particularly in developing regions with budget constraints. Additionally, healthcare facilities may encounter resistance from staff when implementing new patient handling protocols and equipment, highlighting the importance of comprehensive training and education programs. Regulatory compliance and safety standards also pose challenges for manufacturers, requiring ongoing investment in research and development to ensure compliance with evolving regulations.

Read Also: Organic Seed Market Size to Reach USD 11.20 Billion by 2033

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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