In the United States in 2021, there were more than 54 million adults 65 and older, or roughly 16.5% of the population, according to the Senior Report 2021, issued by America's Health Rankings United Health Foundation. Hospitalization rates are increasing due to this population's increased propensity for chronic illnesses and surgical procedures, which is anticipated to increase demand for patient mechanical lift handling equipment. Throughout the forecast period, there is expected to be an increase in the prevalence of musculoskeletal illnesses in United States.
Data Bridge Market Research shows that the Patient Lifting Equipment Market accounted for USD 2.91 billion in 2021 and is expected to reach USD 7.89 billion by 2029. The market is expected to grow with a CAGR of 13.25% from 2022 to 2029.
"Rising Incidence and Prevalence of Spinal Cord Injury Will Aid Growth"
The increasing prevalence and incidence of spinal cord injury are expected to be the main factors driving the growth of the global market for patient mechanical lifting equipment. For instance, a report published in Karger in 2012 said that the anticipated starting incidence of traumatic spinal cord injury (TSCI) in 2010 was 1,785 cases per year, and the discharge incidence was 1,389 instances. (41 in 1,000,000). The predicted number of non-traumatic spinal cord injuries (NTSCI) discharges 2,286. (68 per million). According to projections, 85,556 Canadians (51 percent have TSCI and 49 percent have NTSCI) have SCI. These are certain factors that will propel the market growth.
What restraints the growth of the Patient Lifting Equipment Market?
"Lack of Patient Awareness in Developing and Underdeveloped Countries Are Expected to Hamper the Market's Growth"
Improper budget allocation and a lack of patient awareness in developing and underdeveloped countries would act as a restraint and present further challenges to the growth of patient mechanical lift handling equipment during the forecast period.
Segmentation: Patient Lifting Equipment Market
The patient lifting equipment market is segmented on the basis of product, and end-users.
- The product segment of the patient lifting equipment market is divided into ceiling lifts, stair and wheelchair lifts, mobile lifts, sit- to- stand lifts, bath and pool lifts, lifting slings and accessories.
- Based on end- users, the patient lifting equipment market is segmented into hospitals, home care setting, elderly care facilities and other.
Regional Insights: North America is expected to dominate the Patient Lifting Equipment Market
North America is expected to dominate the market due to the rising geriatric and bariatric populations in the United States and Canada, the development of the home healthcare sector in the region, and the rising patient volume in nursing homes and elderly care facilities.
- In addition, the Asia-Pacific region is likely to register the highest growth rate during the forecast period of 2022 to 2029 due to an upsurge in the bariatric and geriatric population and an upsurge in the population's purchasing power in the region.
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Recent Developments in Patient Lifting Equipment Market
- In 2021, AmeriGlide announced the introduction of a completely new stair lift. Innovative features on the AmeriGlide UP Stairlift offer optimal safety and comfort when climbing and descending steps.
The Prominent Key Players Operating in the Patient Lifting Equipment Market Include:
- OpeMed (United Care) Ltd. (U.K.)
- Vendlet ApS (Denmark)
- Permobil, Stiegelmeyer GmbH & Co. KG (Germany)
- Stryker (U.S.)
- Sunrise Medical (Germany)
- LINET (Ireland)
- Mangar Health (U.K.)
- Benmor Medical Limited (U.K.)
- Arjo (Sweden)
- DJO LLC (U.S.)
- Drive DeVilbiss healthcare (U.K.)
- Etac (Sweden)
- GF Health Products Inc. (U.S.)
- V. Guldmann A/S (Denmark)
- Handicare Group (Sweden)
- Hill-Rom Services Inc. (U.S.)
- Invacare Corporation (U.S.)
- Joerns Healthcare LLC (U.S.)
- Medline Industries Inc. (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of patient lifting equipment market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Patient Lifting Equipment Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
