Patient Lifts Market is Forecast to Touch USD by 2026, Growing at a CAGR of During 2020 to 2026

Published | 30 November 2020

According to BlueWeave Consulting, the global Patient Lifts market has reached USD in 2019 and is further projected to reach USD by 2026, growing at a CAGR during the forecast period. Patient Lifts are intended for the ease and safety of the patients and caregivers. Many healthcare organizations are growing the acceptance of these patient-handling equipment to avoid the injuries caused due to manual handling of the patients. Market development is mainly determined by issues such as growing research on global geriatric & bariatric populations, the high risk of injuries to caregivers during the manual conduct of patients, and the implementation of regulations safeguarding the safety of healthcare personnel during manual lifting. However, the lack of training provided to caregivers for the efficient operation of patient handling equipment is expected to confine the growth of this market during the prediction period.

Increasing elderly population

A rise in the global geriatric & disabled populations drives the patient lifts market. Patient lifts offer benefits such as avoidance of risk of musculoskeletal injuries while transferring from one place to another. Moreover, it is convenient for caregivers and hospital staff to handle patients with care. Power lifts enable caregivers to focus on the patient and not the lifter. Power lifts are perfect for transporting patients from bed to chair, vice versa, and for toileting, bathing, and showering.

Increasing incidence of chronic diseases

The rise in hospitalization rate due to the rise in the occurrence of chronic diseases and the surge in acceptance of nominally invasive surgeries are likely to increase demand for patient lifts during the forecast period. Safe patient treatment is major distress among people living in Europe, the U.S., and countries in the emerging regions. Hence, an increase in demand for patient lift skills is likely to make the patient lifts the market highly profitable for investment.

Restraints

The high price of the products and lack of alertness and training to caregivers about the obtainable progressive products are predictable to confine the global patient lifts market. Cost-effectiveness makes the segment good-looking in regions with limited spending capacity. Moreover, manual lifts are most used in home care settings due to insurance repayments and physician references.

Home Healthcare occupy the largest share of the Patient Lifts Market

By end-user, the market is bifurcated into hospitals, elderly care facilities, home care settings, and other end users like crisis medical services, long term acute care centers, trauma centers, & nursing homes. The home healthcare setting is likely to raise at high CAGR in the estimated period since there has been increasing focus and government initiatives on decreasing the complete healthcare cost by endorsing home healthcare setting.

North America is expected to witness significant growth in the market during the forecast period

North America is predicted to be the foremost market for patient lifts owing to the existence of large people suffering from physical incapacities, high nonrefundable income, the surge in research and growth activities, and the launch of progressive patient lifts. Europe is expected to be the second major market for patient lifts due to the occurrence of a large number of leading players offering a wide range of patient lifts, important government backing, and high alertness about advanced technologies for aging and incapacitated. The Asia Pacific is a potential market for patient lifts due to economic growth, rise in buying power of the population, and enhancement in health care infrastructure.

The leading players” in the Patient Lifts market includes, AliMed, Medcare Products, Vancare, Superior Mobility, Hoyer, Invacare, Medline, Drive Medical, Getinge Group (Arjohuntleigh), Hill-Rom Holdings, Inc. Prism Medical Ltd., Guldmann Inc., ETAC AB, Handicare as, Joerns Healthcare, LLC Silvalea Ltd. Spectra Care Group, and other prominent players are expanding their presence in the market by implementing various business strategies. 

Don’t miss the business opportunity of the Patient Lifts market. Consult our analysts, gain crucial insights, and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global Patient Lifts market size & forecast. The report promises to provide recent technology trends of the Patient Lifts market and industry insights that help decision-makers to make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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