Rising Geriatric Population is driving the Patient Mechanical Lift Handling Equipment Market Growth

 

 Patient Mechanical Lift Handling Equipment Market

Patient Mechanical Lift Handling Equipment Market by Product (Bath Patient Lifters, Floor-based Lifts, Overhead/Ceiling Lifts, Powered Sit-To-Stand Lifts, Standup and Raising Lifts, and Other Products), End User (Hospitals, Home Healthcare, and Other End Users), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 – 2030

The global Patient Mechanical Lift Handling Equipment Market is estimated to be valued at US$ 1,619. 31 million in 2021 and is expected to exhibit a CAGR of 7.86 % over the forecast period as highlighted in a new report published by Coherent Market Insights.

Market Overview:

A harmless and protective approach towards patient handling equipment is being progressed and the use of manual handling equipment is reduced at every possible place. The main factor of wound to nursing and healthcare assistance is the outcome of continuous manual lifting, shifting and relocation of people and residence. With occurrence rates of work-related wounds necessitating leads to rise in leaves from the work, which can be a notable expense to hospital sector. Patient Handling Equipment plans have been one of the key innovations for hospital organizations, pursuing to decrease job-associated wounds and decreased grievances owing to patient falls.

Competitive Landscape:

Key players involved in the growth of global Patient Mechanical Lift Handling Equipment Market are Hill Rom Holding Inc., Mangar International Inc., Gainsborough Healthcare Group, Sunrise Medical LLC, Stryker Corporation, ARJO, Handicare Group AB, Invacare Corporation, Joerns Healthcare Inc., and Guldmann Inc.

Market Key Drivers:

Rising geriatric population and the increasing prevalence of chronic diseases is expected to boost the growth of global Patient Mechanical Lift Handling Equipment Market. For instance, as per WPP 2022, the contribution of the global population aged 65 years and above is predicted to increase from 10% in 2022 to 16% in 2050.

The increasing product approvals and launches by the key players is anticipated to drive the growth of global Patient Mechanical Lift Handling Equipment Market. For instance, in January 2021, Handicare introduced its AP-Series handheld Ceiling Lifts in North America.

Covid-19 Impact Analysis:

The Covid-19 positively affects the growth of global Patient Mechanical Lift Handling Equipment Market owing to the increasing rate of hospitalizations globally. Mechanical lifts are utilized for patients with severe debilitating problems, such as those who suffer from chronic disease, or for geriatric patients. For instance, as per CDC, COVID-19-related hospitalization rates were more amidst the elderly than in other age groups.

Key Takeaways:

The global Patient Mechanical Lift Handling Equipment Market is expected to exhibit a CAGR of 7.86 % during the forecast period owing to the Rise in musculoskeletal diseases. For instance, as per WHO, around 1.71 billion people globally suffer from musculoskeletal diseases.

Among regions, North America, Asia Pacific and Europe anticipated to witness robust growth in the global Patient Mechanical Lift Handling Equipment Market due to rising geriatric population, musculoskeletal diseases, disabilities, increasing healthcare infrastructure. For instance, as per OSHA, around 124 million Americans suffer from musculoskeletal diseases in U.S.