Categories: Market Research

Patient Handling Equipment Market Growth Trajectory Through 2024-2033

The Patient Handling Equipment by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Patient Handling Equipment, The patient h&ling equipment market size has grown steadily in recent years. It will grow from $21.25 billion in 2023 to $22.1 billion in 2024 at a compound annual growth rate (CAGR) of 4.0%. The growth in the historic period can be attributed to increased geriatric population, increased healthcare expenditure, increasing prevalence of chronic diseases, strong economic growth in emerging markets and regulations favoring disabled friendly places.

The patient h&ling equipment market size is expected to see steady growth in the next few years. It will grow to $26.19 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%. The growth in the forecast period can be attributed to healthcare infrastructure improvements, rise in healthcare expenditure, and rapid growth in the geriatric population. Major trends in the forecast period include focus on incorporating sensors and intelligence in wheelchairs to reduce the need for human interaction, investing extensively in r&d activities for the development of effective and innovative treatments, strategic collaborations to boost innovations, products and services that can establish category leadership, and adopting rfid technology to enhance patient experience.

The increasing geriatric population profile of most countries contributes 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, the number of people aged 65 years and above 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.

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The patient handling equipment market covered in this report is segmented –

1) By Product Type: Wheelchairs, Mobility Scooters, Medical Beds, Patient Transfer Equipment, Other Product Types
2) By Care Type: Critical Care, Fall Prevention, Bariatric Care, Wound Care, Other Care Types
3) By End-User: Homecare, Hospitals, Other End-Users

The development of smart wheelchairs is a key trend gaining popularity in the patient handling equipment market. A smart wheelchair is a power wheelchair fitted with sensors, cameras, and a computer-based system as the main processing unit, allowing it to handle complex tasks. Major organizations and researchers are concentrating on smart wheelchairs that incorporate sensors and intelligence to reduce the need for human interaction. For instance, in March 2023, Golden Technologies LLC, a US-based company that manufacturer mobility and healthcare products, including wheelchairs launched new lightweight foldable power wheelchairs, GP301 Stride aluminum folding power wheelchair and the GP302 Cricket carbon fiber folding power wheelchair. These wheelchairs are perfect for people who require mobility help because they are made to be adaptable and simple to travel .

The patient handling equipment market report table of contents includes:

1. Executive Summary
2.Patient Handling Equipment Market Characteristics
3.Patient Handling Equipment Market Trends And Strategies
4.Patient Handling Equipment Market analysis
5. Patient Handling Equipment Market Size And Growth
6.Patient Handling Equipment Segmentation
7.Patient Handling Equipment Regional And Country Analysis
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27.Patient Handling Equipment Competitive Landscape And Company Profiles
28.Patient Handling Equipment Key Mergers And Acquisitions
29.Patient Handling Equipment Future Outlook and Potential Analysis

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