The international market for patient handling equipment market has
been prophesized to rise at a robust CAGR rate of 10.20% over the
forecast timeframe that extends from 2016 to 2024. Such a growth of
the market for patient handling equipment market is primarily due to
the rising risk of caregivers’ injury, increasing geriatric
population, and also the risk of injury to the patients while
handling them manually. Apart from that, other factors such as rising
incidences of disabilities, implementation of rules and regulations
that pertain to the safety and security at many of the healthcare
facilities.
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As the report on global patient handling equipment estimates, the
said market would be worth around US$ 22.4 bn towards the end of
forecast period, i.e. by 2024. The estimated amount at the end of
2024 has substantially risen from an evaluated market valuation of
US$ 9.5 bn in the year 2015. The industry of healthcare is at present
thriving in many a number of emerging and developed economies.
Taking vendor landscape into consideration, the market for patient
handling equipment can be regarded as moderately fragmented and the
market players has been focusing on strategically important moves
like partnerships, mergers and acquisitions so as to reinforce their
hold on the said market.
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The international market for patient handling equipment is
experiencing many new favorable market options such as the provision
of rental that is coming up as a trend in the market amongst those
patients who need lifts and slings for a short period of time in the
settings of healthcare system. In addition to that, the arrangement
for flexible payment option of rent makes providers of rent to manage
flow of cash all the year around. These various factors are
anticipated to further spearhead the growth of the said market. The
drivers that are primarily responsible for the growth of the market
include factors such the soaring need for aversion of musculoskeletal
injuries that could happen both to the patients and to the care
givers owing to physical actions like manual uplifting of patients.
In those cases, the said patient handling equipments are regarded as
the apt choice to uplift patients in the right way. In addition to
that, the savings on manual labor could now be utilized for the
procurement of equipment like medical beds that come with assistive
technology, patient lifts, and many such types of equipment. Such
patient handling equipment eventually diminishes the role that
caregivers play in helping patients.
The market research study on patient handling equipment also comes
with regional analysis and segmentations of the said market. In
accordance with the said study, the market spreads across the regions
of the Middle East and Africa (MEA), North America, Europe, Latin
America and Asia Pacific (APAC). Emerging economies such as Sri
Lanka, India, and China lack regulatory and legal protocols
associated with handling of caregivers and patients. As such, the
system of healthcare in these parts of the world can be considered
moderately fragmented. The market is marked with the presence of
medium and small scale end-users that are devoid of the benefits
arising out of patient handling equipment.
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However, owing to the political pressures coming out of international
bodies that pressurize on improving services of the healthcare
segment worldwide, it is prophesized that many countries would now be
coming out with new rules and regulations for the progress of
healthcare system that centers on patients. These initiatives by
various governments are meant for the improvement the standard and
quality of patient care and as such the same are anticipated to
bolster market growth.
The prominent market players that are operating in the world market
for patient handling equipment are ArjoHuntleigh (Getinge Group), DJO
Global, Invacare Corporation, Patterson Medical , Stryker
Corporation, Joerns Healthcare LLC, and Hill-Rom Holdings. The
company, ArjoHuntleigh (Getinge Group), is considered as the leading
market player in the international market for patient handling
equipment in the year 2015.
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