Safe patient handling highly depends upon functional equipments for specific purposes. Different types of equipments like patient lifts and chairs are used to shift, transfer and move the patient population around the world. Growth in the demand, home healthcare industry and technological advancements in the industry are expected to drive the global patient handling equipment market. According to the experts, increased instances of lifestyle diseases are also expected to play a crucial role in the overall growth of the market. Strong rise in demand from the emerging markets is also expected to create potential business opportunities in the industry.
Segmentation in the Industry
In order to understand the current growth and future projections of the market, researchers segment the industry on the basis of the basic segments in the industry. The types of products available in the industry are segmented into various basic segments, which include bathroom safety supplies, wheelchairs, scooters, medical beds, mechanical equipment, ambulatory beds, non-mechanical equipments and others. The types of accessories in the patient handling equipment market include transfer, evacuation, hospital, stretcher, transfer sheets, bariatric boards, and such other accessories. End-users in the market are segmented into elderly care, home care, hospital, long-term care, nursing homes, and others. These equipments are used for wound, critical, bariatric, fall prevention, and other types of cares like patient transfers.
Major Market Drivers & Restraints
According to the experts, the major drivers for the patient handling equipment market include increasing geriatric population and growing population of the patients with lifestyle diseases. Technological advancements, changing government policies, strong demand in the US market, etc. factors are also expected to drive the market during near future. Growing injuries due to poor patient handling techniques and equipment are also expected to create growth opportunities in the market. Major restraining factors for the industry include challenges in the care of bariatric patients and lack of skilled and knowledgeable professionals in safe patient handling. However, growth in private institutional nursing and M&A and joint ventures are expected to drive growth in the market.
As per the latest research reports, the patient handling equipment market is expected to grow at a CAGR of over 10% from 2014 to 2019. At the projected rate, the market is anticipated to reach $14,227.1 million by the end of the year 2019. North America is expected to dominate the global market. Emerging markets like Asia Pacific are also expected to maintain a steady CAGR.