Patient Handling Equipment Market Size, Report By 2033

Prathamesh

4 weeks ago

The global patient handling equipment market size surpassed USD 11.90 billion in 2023 and is projected to cross 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 variety of devices designed to assist in the movement and transportation of patients with mobility challenges, whether they are due to age, illness, injury, or disability. These include manual and electric wheelchairs, mobility scooters, patient hoists and lifts, medical beds, and more. The market is experiencing significant growth as the global population ages and healthcare infrastructure expands.

Get a Sample: https://www.precedenceresearch.com/sample/4105

List of Contents

Toggle

Growth Factors:

The growth of the patient handling equipment market is primarily driven by the increasing aging population worldwide, which raises the demand for mobility aids and other patient handling devices. Additionally, a rise in the number of people with disabilities and chronic illnesses further boosts the market. Technological advancements, such as the development of lightweight and more user-friendly devices, contribute to market growth as well.

Region Insights:

North America leads the patient handling equipment market due to its advanced healthcare infrastructure and high healthcare spending. Europe is another major market, benefiting from a robust healthcare system and a growing elderly population. The Asia-Pacific region is expected to exhibit the highest growth rate due to improving healthcare infrastructure, an expanding middle class, and increased awareness of patient handling equipment.

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:

Key drivers of the patient handling equipment market include the growing elderly population, increasing prevalence of chronic diseases and disabilities, and the adoption of advanced technologies. These factors contribute to a higher demand for efficient and safe patient handling solutions. Additionally, stringent regulations for patient safety and a focus on reducing workplace injuries for healthcare workers drive the adoption of patient handling equipment.

Opportunities:

There are several opportunities in the patient handling equipment market, including the development of innovative and technologically advanced equipment such as smart wheelchairs and automated patient lifts. Integration of digital health technology, such as remote monitoring and IoT-enabled devices, presents potential for growth. Expansion into emerging markets with a growing need for healthcare infrastructure also provides avenues for market players.

Challenges:

Despite the growth prospects, the patient handling equipment market faces challenges such as high costs of advanced equipment and the need for trained personnel to operate the devices safely. Additionally, the market may encounter issues related to reimbursement policies in different regions, which can impact affordability and access to patient handling equipment. Moreover, regulatory hurdles and the need to comply with international standards may pose challenges for market players.

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