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.
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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