Yahoo Finance Patient Handling Equipment Global Market Report 2023
Major players in the patient handling equipment market are ArjoHuntleigh Inc., Hill-Rom Holdings Inc., Invacare Corporation, Stryker Corporation, Drive Divilbiss Healthcare Inc., ETAC AB, Gf Health Products Inc.
New York, Feb. 09, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Patient Handling Equipment Global Market Report 2023" - https://www.reportlinker.com/p06280854/?utm_source=GNW
, Guldmann, Inc., Handicare Group AB, and Joerns Healthcare LLC.
The global patient handling equipment market is expected to grow from $19.31 billion in 2021 to $20.35 billion in 2022 at a compound annual growth rate (CAGR) of 5.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The patient handling equipment market is expected to grow to $23.19 billion in 2026 at a CAGR of 3.3%.
The patient handling equipment market consists of sales of accessories, air lateral transfer systems, bed frames, commodes, patient lifts, stretchers, therapy surfaces, and transfer chairs.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Patient handling equipment is an assistive device that helps home care and hospital settings for transferring patients between chairs, beds, and other places. They are used for specific lifting, transfer, and movement of patients.
North America was the largest region in the patient handling equipment market in 2022.Western Europe was the second largest region in the patient handling equipment market.
The regions covered in the patient handling equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The patient handling equipment market covered in this report is segmented by product type into wheelchairs, mobility scooters, medical beds, patient transfer equipment, and others.The patient transfer equipment is used for transferring patients between chairs, beds, and other places.
It is also segmented by care type into critical care, fall prevention, bariatric care, and by end-user into homecare, hospitals, and others.
The increasing geriatric population profile of most countries contribute to the growth of the patient handling equipment market.The older population accounts for a higher percentage of hospital admissions owing to the high risk of acquiring chronic and other diseases, thereby generating a higher need for patient handling equipment.
According to the World Health Organization, in 2020, there were 1 billion people in the world who were aged 65 years and above. The numer is expected to rise to 1.4 billion by 2030 and 2.1 billion by 2050. Therefore, an increase in the size of the geriatric population is anticipated to boost the demand for the patient handling equipment market during the forecast period.
Inconvenience caused by wheelchairs and other patient handling equipment is likely to act as a major restraint for patient handling equipment’s market growth.Physical barriers associated with wheelchairs include inaccessible surroundings, lack of pavements, and climate and physical terrain.
For instance, according to the American Nurses Association (ANA), the physical environment can lead to restrictions on the movement and positioning of the patients. This scenario is projected to impact the growth of the patient handling equipment market.
In March 2021, Direct Healthcare Group, a UK-based medical device company, acquired United Care BV for an undisclosed amount.The acquisition would expand direct healthcare group’s safe moving and handling portfolio and help it better serve the customers.
United Care BV is a Netherlands based manufacturer of patient handling solutions.
The countries covered in the patient handling equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The patient handling equipment market research report is one of a series of new reports that provides patient handling equipment market statistics, including patient handling equipment industry global market size, regional shares, competitors with a patient handling equipment market share, detailed patient handling equipment market segments, market trends and opportunities, and any further data you may need to thrive in the patient handling equipment industry. This patient handling equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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